Covington Electric Cooperative Inc

“Form 990, part vi, section a, line 6: covington electric cooperative, inc. Is an electric distribution cooperative consisting of approximately 23,000 members. Each customer of the cooperative receiving electric service is a member.”

“Form 990, part vi, section a, line 7a: the cooperative is divided into 6 districts. The members are allowed to vote for the election of a director for each district.”

“Form 990, part vi, section a, 7b: members are allowed to vote on proposed by-law changes during the annual membership meeting.”

“Form 990, part vi, section b, line 11b: the form 990 is prepared by the cooperative's independent auditor. It is presented for review before it is filed. If discrepancies are found, corresponding corrections are made prior to its filing.”

“Form 990, part vi, section b, line 12c: policy no. 154, conflict of interest policy has been enacted by the cooperative to outline the conduct of trustees and employees in regards to conflicts of interest. Each trustee and employee signs an agreement.”

“Form 990, part vi, section b, line 15: salaries of management and key personnel are reviewed by the board using comparable data from others in the industry. Periodically, positions and salaries are reviewed by an outside consultant.”

“Form 990, part vi, section c, line 19: all new members are provided with a copy of the bylaws. The cooperative provides all active members condensed financial statements at the annual meeting of members. Policies and other financial information is available to members upon request.”

“Part ix, line 4- retirement of patronage capital credits disclosed represent the retirement of patronage capital allocated in prior years which were paid to members in the current year.”

“Salaries of management and key personnel are reviewed by the board using comparable data from others in the industry. Periodically, positions and salaries are reviewed by an outside consultant.”

“Subsidiary earnings 674,359 in other equities 0 change in memberships 1,760 in other equities -559,338 unrecognized postretirement benefit cost -294,818 total -178,037”