Pioneer Electric Cooperative Inc

“Pioneer Electric Cooperative is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the cooperative's bylaws.”

“The members of Pioneer Electric Cooperative may elect one or more members of the governing body at the annual meeting.”

“The membership must approve decisions that involve substantial transfers of cooperative assets, amendments to the cooperative's bylaws, as well as other decisions requiring approval of the membership by law, the Articles of incorporation, and/or the cooperative's bylaws.”

“The Form 990 was reviewed by management before it was presented to the Board of Trustees. The external accountant who assisted management in the preparation of the Form 990 conducted a formal review of the Form 990 with the Trustees at the monthly board meeting before the Form 990 was filed.”

“On an annual basis, Pioneer Electric Cooperative requires disclosure of potential conflicts of interests on a questionnaire. These are then reviewed by the accounting staff at the Cooperative. If conflicts are found, they are reported to the Board (in the case of conflicts of interest involving Board Members or the General Manager) or to the General Manager (in the case of conflicts of interest involving Key Employees).”

“Information is gathered from state and national electric cooperative organizations to insure that levels of compensation are within statistical norms of the industry. For the General Manager's compensation, the Board of Trustees review the facts and figures and determine the rate of compensation. For the key staff, the general manager gives an overview of the salaries as they compare with state and national averages with the Board, though he makes the final determination.”

“The governing documents, conflict of interest policy, and financial statements are available upon request at Pioneer Electric Cooperative's main office in Greenville, Alabama. The Cooperative's By-Laws are also available on its Website.”

“Patronage Allocation of Current Year Margins to Members 1,250,913. Retirement of Capital Credits -631,208. Utility Tax Refund Assigned Directly to Members 84,247. Reclaimed Capital Credits 87.”

“Pioneer Electric Cooperative's financial statement year end differs from its tax year end. The cooperative receives audited financial statements on an annual basis for the year ended June 30th.”