Central Electric Membership Corporation

“Central electric membership corporation is an electric membership corporation that delivers electricity to the members of the cooperative. The members elect the board of directors, which serve as the governing body of the cooperative.”

“All members of central electric membership corporation receive one vote with respect to selecting the governing board of directors.”

“Certain decisions of the governing body are subject to approval by the members as provided for in the cooperative bylaws.”

“Management reviews a copy of the 990 for accuracy before furnishing it to the ceo and the board of directors.”

“Conflicts of interest are covered under the organization's code of conduct, which states "employees are encouraged to talk to supervisors, managers or other appropriate personnel about observed illegal or unethical behavior, as well as actual or suspected violations of the policy of which they are aware, or concerns about the best course of action in a particular situation." a copy of the policy is posted on-line at each office location. Employees are notified once a year about the policy and are expected to review it. Employees are expected to cooperate in internal investigations of misconduct. Directors are similarly encouraged to discuss such issues with fellow directors or with the president of the board. Directors sign a questionnaire that asks about the potential conflicts of interest.”

“The organization periodically uses the services of a consulting service which compares the organization's compensation with that of similar organizations. Salaries of management personnel are reviewed by the board of directors, and files are maintained for the review process by which merit raises are granted.”

“The organization periodically uses the services of a consulting service which compares the organization's compensation with that of similar organizations. Salaries of management personnel are reviewed by the board of directors, and files are maintained for the review process by which merit raises are granted.”

“A copy of the bylaws are provided to new members. A condensed financial statement is provided to the members as part of the organization's annual report. The governing documents, conflict of interest policy, and financial statements are available upon request at the organization's headquarters. The board of directors assumes responsibility for oversight of the annual audit and the selection of the independent accountant.”

“Noncash patronage allocations not revenue per irs 1,117,734 patronage div. Paid to members 3,233,949 oci adjustment to equity 5,300 increase in memberships 885 book tax difference sandhills utility services 914,139 contributions in aid of construction -150,110 net retirement of capital credits -1,541,280 rounding adjustment -2 total 3,580,615”