Mt Olive Water Association

“Copies of the 990 are available at the organizations business office located at 1020 Ruben Circle in Bolton, MS. Copies can be picked up or mailed upon request. They can also be Emailed to members. Limited Emaii access exists for some members due to spotty broaband services in the area. Membership is limited to those who obtain the services and acquire a tangible interest in system assets in proportion to the business done with the organization and have a voice in its management. One membership at time may be held for each property served.”

“The board of directors shall consist of 9 members. Each set of three director serves three-year staggered terms. Each director holds office until a successor has been elected and qualified. Members presence at a meeting entitled to cast in their right by the total number of active members present shall constitue a quorum. Each member has a vote.”

“Monthly meetings are held by the board to conduct business. All business is conducted at the meeting. Meeetings are announced by the board ten days in advance and members are able to attend. Member can offer input at the meeting and is entitled to exercise all rights and make charges and submit petitions.”

“The IRS form 990 is prepared from data provided by the accounting and management staff of the organization to an independent preparer. The draft report is distributed to board members and discussed at its monthly meeting. Recommendations and approvals are garnered and submitted to the preparer for final publication. The publication is approved by the board and made available for filing and review.”

“The officers are required to review and accept the organizations policies and by laws which include conflict of interest. Board members must declare if any members have relatives or business relations exist with other members or providers. Stiff penalties are imposed to deter violations of conflict policy or a lack of complete disclosure.”

“Compensation of officers may be fixed only at a regular or special meeting of the members. Directors shall receive no compensation for their services as director.”

“Officers are elected at the annual meeting of the organization. Prior notice is distributed to each member in writng reminding them of the meeting schedule and agenda. The compensation of officers are approved at this meeting with along with any compensation changes of key employees at that time. Each member has one vote and a majority of votes cast is required for approval.”

“Copies of all governing documents are available at the business office located at 1020 Ruben Circle in Bolton, MS. They can reviewed there or obtained from the Board in person or by mail. Our members are from the general public though we have a special relationship in that we provide them water services. Members are encouraged to attend the water system meetings where all information and documents are readily available. Form 990 is made available for review at the Water systems business office. Customers can visit the office or request a copy. The US mail service and electronic messaging are options for delivery.”

“Payments for system improvements(USDA) 4,804 _______Improvements were made to the water well system resulting in greater capacity and improved water pressure to user-members. Compensation of officers may be fixed only at regular or special meetings of the members. Directors shall receive no compensation for their services as director. Other Fees for Services:Grounds Maintenance 5,800Meter Upkeep 9,310Billing Services 10,560Utility System Services 79,198Water Well Services 2,609Water Lines Tracking 2,595 _______ 110,072”