North Arkansas Electric Cooperative Inc

“There is only one class of members. All members have one vote each. The members elect the governing body and approve whether the company can be sold.”

“No committees are used at this time.”

“Julie haney, cfo, reviews all information. If all appears to be correct to the financial statements of the organization, she passes it to the ceo, mel coleman, for his review. If all appears to be in order, the board is presented with a copy for each member to review and approve.”

“The board interprets and enforces this policy. Cooperative's legal counsel must annually review this policy with all officials. The minutes of all board meetings should record all disclosures, votes, authorizations, and other actions taken under this policy. Each official must annually complete and sign the conflict of interest certification and disclosure form attached to this policy and deliver the completed and signed form to president or manager. If an official discovers any information or fact that could impact another official's compliance with this policy, then the official must disclose the information or fact to president or manager immediately. If manager or president receives a form disclosing any information or fact that could impact an official's compliance with this policy, then, respectively, manager must deliver the form to president and president must distribute the form to the board. If manager or president receives or discovers any other information or fact that could impact any official's compliance with this policy, then, respectively, manager must disclose this information or fact to president and president must disclose this information or fact to the board. Upon receiving or discovering any information or fact that could impact a director's compliance with this policy, the board must: a. Provide the director an opportunity to comment orally and in writing regarding the information or fact, and an opportunity to be represented by legal counsel; and b. Determine whether the director complies with this policy. If the board determines that a director does not comply with this policy, then: a. The board must provide the director an opportunity to comply with this policy within thirty days; and b. If the director does not comply with this policy within thirty days, then, as allowed by law, the board must sanction, disqualify, and/or remove the director. Upon receiving or discovering any information or fact that could impact any other official's compliance with this policy, the board must act as appropriate or authorize the manager to act as appropriate.”

“North arkansas electric cooperative has an independent consultant that develops the salary range structure based on comparability data. The consultant does not approve the compensation, but develops the salary ranges that are used in merit review compensation for all positions.”

“Governing documents, conflict of interest policy, and financial statements are made avaliable to the public upon written request.”

“Column f includes nontaxable benefits, 401k contributions, and the current year change in expected benefit received from rs plan.”

“Amount noted on this line relates to patronage dividends assigned after 2018 year end for the 2019 year.”

“Net income before patronage assigned: $7,592,382 change in membership fees: 3,048 changes in other equities: 159,563 retirement of capital credits: (5,149,505) change in accumulated other comprehensive loss-postretirement benefits: 3,749,816 income from subsidiary (645,383) contribution in aid unrelated business income 6,401 book to tax depreciation difference 1,764,245 ------------------------------------------------------------- total: $7,480,567”