Snapping Shoals Electric Membership Corporation

“The cooperative has members who elect members of the governing body as provided for in its bylaws which are included as a part of this return.”

“Certain decisions of the governing body are subject to approval by members as provided for in its bylaws which are included as a part of this return .”

“Form 990 is reviewed by the board as provided for in the cooperative's policy which is included as a part of this return.”

“The cooperative regularly and consistently monitors and enforces compliance with their conflict of interest policy as provided for in its policy which is included as a part of this return.”

“Ceo compensation is reviewed and approved as provided for in the cooperative's policy which is included as a part of this return.”

“Key employee compensation is reviewed and approved as provided for in the cooperative's policy which is included as a part of this return.”

“The cooperative makes its bylaws, conflict of interest policy, and financial statements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi section c line 18.”

“Directors of the corporation holding officer positions as provided for in the corporation's bylaws have been identified as officers and directors/trustees in column (c) of section a. Directors of the corporation are compensated on a per diem basis for renumeration of fulfilling their duties as directors. Directors are not employees of the corporation.”

“The disclosed number of employees reported on form w-3 in question 2a represent shared paid employees of snapping shoals electric membership corporation (ein 58-0433463) and snapping shoals energy management co. (ein 58-2360640). Required payroll filings are made as required by snapping shoals energy management co. (ein 58-2360640). Additional information regarding the shared employees is disclosed in schedule r of this return.”

“Membership fee 8,153 retired capital credits - gain 229,399 donated capital 9,395 patronage capital allocations 313,728 revenue recognized under asc 980 3,426,000 patronage capital credits - retirements -4,065,855 total -79,180”