Lake Keowee Utility Systems Inc

“Keowee key utility system paid keowee key property owners association a management fee of $56,508 to perform the management functions of keowee key utility system.”

“Any individual who owns property in keowee key is considered a member of keowee key utility system, inc.”

“Each year, members receive a listing of persons nominated for the board of directors. The members then cast their vote and return their ballots to elect members to the board of directors.”

“Each year members receive a copy of the proposed budget. They are then required to approve the budget, or address any issues with the board of directors.”

“The board of directors will normally be given a copy of the form 990 for review prior to the next scheduled board meeting. Time will be set aside for discussion of the 990 at the board meeting, and the return will be approved by all board members and signed by the board president prior to its filing. If the return must be approved prior to the next board meeting, an electronic copy of the form 990 will be emailed to board members as soon as it is made available by our tax preparers. The 990 will be reviewed by board members and the board members will convey their votes electronically, after which the board president will sign the return. The tax return approval will be incorporated into the minutes of the next board meeting.”

“The kkus board of directors, community general manager and controller are aware of, and in agreement with, the conflict of interest policy, which includes the duty to disclose any possible conflict of interest. Any breach or suspected breach of this policy would be addressed in the next available monthly board meeting, and the proceedings and findings would be recorded in the board minutes.”

“The kkpoa general manager in conjunction with the kkus board of directors periodically utilizes compensation surveys to compare the annual compensation of the kkus director with utility directors within the same region to ensure the compensation is reasonable.”

“Keowee key utility systems' bylaws are available to members at the keowee key property owners' association website. Its annual audited financials are mailed to members each april as part of keowee key's annual report. Monthly financials and bylaws are available to members at keowee key property owners association's administrative offices at 1392 stamp creek road, salem sc 29676.”

“The process has not changed from the prior year.”