Dakota Valley Electric Cooperative Inc

“All board members and officers have a business relationship with each other as each board member and officer also served on the board of Dakota Valley Services Corporation, the wholly owned subsidiary.”

“Section 303 of the Bylaws were updated to change the date range for Caucus meetings to be held between March 1 and April 1, as well as the deadline date for direcor petitions to be filed by April 1.”

“There is only one class of members. They all have the same rights, which entitles them to one vote.”

“Members elect the Board of Directors. There are nine separate districts, and each district can vote in one person to the Board. The director must live in the district in which he/she is serving.”

“There are several major decisions that require member approval. They include decisions to change the bylaws, elect directors, decisions to merge or consolidate, and the decision to sell, lease, transfer or otherwise dispose of the physical plant in excess of 5% of the Cooperative's value.”

“The Cooperative does not have any committees with the authority to act on behalf of the full Board of Directors.”

“Copies of the Form 990 will be provided to the board members at a Board meeting. The 990 will be reviewed and approved for filing at the board meeting.”

“The employee conflict of interest policy is administered and enforced by the Manager. The Manager would restrict employee involvement in any Cooperative activity for which the employee has a conflict of interest. Directors are covered by the Board conflict of interest policy; the Chairman or Vice-Chairman reviews the responses in order to determine whether issues need to be addressed by the full Board. The Board will determine restrictions on a case by case basis.”

“The governing board reviews and approves the General Manager's compensation using a state wide compensation survey. The process is documented in the board minutes. The Business Manager's compensation is reviewed by management using comparability data as well.”

“The bylaws and articles of incorporation are mailed out to new members. Any changes that are made to the bylaws are mailed to members prior to approval by the members. Year end annual financial statements are provided to all members. The conflict of interest policy, articles of incorporation and bylaws can also be found on Dakota Valley Electric Cooperative's website.”

“Compensation of Officers: Included in Part VII, Section A, Column "F", estimated amount of other compensation is the estimated annual increase in the actuarial value of the defined benefit plan. For the following individuals listed, the estimated increase is: Mark Kinzler: $65,767 Kelly Wald: $93,694 Brandon Giesler: $19,878 Trevor Intveld: $38,515 This amount is an estimate in the increase of the value of the plan and is not current year expenses of the Cooperative. Current year contributions into the defined benefit plan by Dakota Valley Electric Cooperative were: Mark Kinzler: $69,768 Kelly Wald: $46,438 Brandon Giesler: $35,624 Trevor Intveld: $32,997 Monty Zimmer: $24,748”

“The labor, pension, and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction on line 24d in the amount of $(5,997,250).”

“Benefits Paid to Members: The Cooperative has interpreted the instructions to Part IX, Line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Bylaws of the Cooperative.”

“Retirement of Capital Credits -1,605,103. Patronage Capital Credits Allocated During Current Year 5,928,382. Earnings from Wholly Owned Subsidiary 144,674.”