Yellowstone Valley Electric Cooperative Inc

“The cooperative has 15,023 voting members at december 31, 2013.”

“The members elect two or three board of directors to serve a three year term at the cooperative annual meeting held in march of each year.”

“All bylaw changes recommended by the board of directors are approved and ratified by the majority of membership at the cooperative annual meeting.”

“Board members will review form 990 at a regular monthly board meeting. Once the board members approve form 990, it then will be entered in the minutes as approved.”

“The cooperative conflict of interest policy is included in the organization policy handbook. All trustees must disclose annually in writing to the board any situation or transaction in which the trustee is involved which violates or could appear to violate the intent of the conflict of interest policy.”

“Salaries and wages for employees are determined using meca & nreca surveys, subject to board approval. Union employees wages are determined by negotiation between management and the union, subject to board approval.”

“All governing documents, policies, financial reports-rus form 7- and form 990 are available upon request at the cooperative headquarter office. In addition, each new member is provided with a copy of yellowstone valley electric cooperative's by laws. Also the statement of financial condition is sent out yearly to all members in the annual meeting notice prior to the annual meeting held in march of each year.”

“Increase in membership deposits 3,311.”

“The board of directors require a formal three year audit engagement letter contract fixing the annual audit fee and performs oversight over the audit. In addition, the auditor is required to formally present the audit and any findings to the board of directors. Also, the board of directors request that the auditor present the cooperative statement of financial condition to its membership at the annual meeting held in march of each year.”