Flathead Electric Cooperative Inc

“Members consist of individuals and businesses that receive electric service from the Cooperative. Members receive a share of the Cooperative's margins through an allocation and approved retirement of patronage capital.”

“Trustee NominationsA. In any year in which a vacancy in the office of trustee shall occur in any district, there shall be nominated from the vacant district at least one candidate for the office of trustee.B. A candidate for each vacancy shall notice his or her interest in the vacant or expiring position by submitting a nominating petition to the nominating committee of the Board at least five (5) business days before the annual meeting. Each petition shall consist of the printed name, address, telephone number, and original and dated signature of not less than twenty-five (25) members from the candidate's district.C. The nominating committee shall review the petitions to determine that all signers are members and reside in said district, and that the nominee is qualified to serve.D. A written profile of each nominee shall be required.Trustee ElectionsA. The election of trustees shall take place in conjunction with the annual meeting of the members at which time members shall elect the number of trustees necessary to fill the position or positions of those whose terms have expired or been vacated.B. Elections of trustees shall be determined by a plurality vote. If, after a recount, there is a tie for a trustee position, the winner shall be determined by a coin toss.C. If, because of redistricting, two (2) Board members whose terms have not expiredrepresent the same district, an election shall be held between these two current Board members.”

“Changes to the Cooperative's by-laws require approval by its members. Each member is entitled to one vote for making changes to the Cooperative's by-laws.”

“After the Form 990 has been prepared by the independent accountants, management reviews the Form for accuracy and completeness. Once management believes the Form is complete and accurate, the Form is submitted to the Board for their review and approval. Upon receiving their approval, the Form is signed and filed.”

“Management ensures the enforcement of the policy. Management and the Board review any potential conflicts of interest, at least annually. Any potential conflicts are discussed with legal counsel in order to determine the appropriate form of action, if necessary, in accordance with the policy.”

“The Board of Trustees reviews the General Manager's compensation and, to the extent possible, compares it to the compensation of General Managers of other comparably-sized electric cooperatives within the region using an independent consultant and survey information obtained from NRECA. Additionally, the Board reviews the General Manager's compensation relative to the compensation of other executive-level positions within the geographical area as a measure of reasonableness. After consideration of these factors, along with the performance of the individual under review, the Board approves the General Manager's compensation package.”

“Compensation of other officers or key employees, if any, are determined annually by the General Manager and Human Resources Director utilizing data prepared by an independent consultant along with a salary matrix and written performance evaluations.”

“Some documents and information are available on the organization's website. Other information is available upon request, in accordance with Board policy.”

“Additions to other equities = $205672”

“Other adjustments = -$752”

“Patronage capital to be allocated = $6059685”

“Retirement of capital credits = -$3026002”

“The Cooperative has interpreted the instructions for Part IX, Line 4 of the 2013 Form 990, regarding patronage dividends paid, to include the total amount of capital credits to be allocated for the tax year.”