Meade County Rural Electric

“Line 6 explanation - must be a member to receive electric service. Each member has 1 vote. May have more than 1 service per membership.”

“Line 7a explanation - nominating committee meets every year there is an election to select member to run for director. Member may run for director with petition signed by 100 or more eligible members.”

“Line 7b explanation - articles of incorporation can only be changed by at least a 2/3 majority of membership. Bylaws may be altered by a majority vote of the board of directors.”

“Line 11b explanation - directors are furnished a draft copy of the form 990 prior to filing. May make inquiries and changes to the information contained in the filing.”

“Directors and key employees annually complete questionnaire on family and business relationships.”

“15a. And b. The board receives data from both local and national surveys. The board uses this data, along with performance review for the ceo, to set compensation.”

“Bylaws and articles of incorporation are made available to each new member. Each year an annual meeting of members is held, with financial information distributed at this meeting. Financial information is available on kentucky public service commission website.”

“Comprehensive income-postretirement benefits -47,614. Margins allocated to members 640,801. Memberships issued -2,115. Refunds of capital credits -308,038. Other equities 10,709.”

“No changes from prior year.”

“Meade county was obligated federal awards through fema for the tax year ended 12/31/24 and will timely complete and submit the required single audit as set forth in the uniform guidance for the fiscal year ended 10/31/24.”

“Represents patronage capital allocated to members in accordance with the cooperative's bylaws. This reporting results in a difference between book income and income reported on the form 990 by the same amount.”