Sheridan Electric Cooperative

“The cooperative is a member owned cooperative.”

“Each member of the cooperative has one vote in elections of the board members.”

“Each cooperative member is allowed a vote to approve any by-law changes.”

“The form 990 was presented at a board meeting. The form 990 is reviewed prior to it being presented to the board and prior to it being filed with the irs.”

“At each board meeting, any director who actually or potentially is involved with a self-dealing matter, shall make full disclosure of the interest, shall not vote on the matter, and shall leave the board room during the discussion of the matter unless requested to stay in the board room during the discussion.”

“The board of directors make a decision based on meca data on mt ceo salaries”

“The financial statements are presented at the annual meeting held by the cooperative. Copies of the governing documents, conflict of interest policy, and financial statements are available upon request.”

“Included in column f, estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for all individuals listed on the table is as follows: scott westlund - $82,315 riley tommerup - $20,231 kory opp - $71,518 josh johnson - $20,379 shawn sansaver - $21,682 bryan lenz - $24,687 joshua ming - $7,771 this amount is an estimate of the increase of the value of the plan and is not a current year expense of the cooperative, therefore these amounts have not been carried over to compensation of current officers, directors, trustees and key employees on the statement of functional expense for the applicable individuals. The actual expense incurred for all individuals listed on the table who participate in the defined benefit plan is as follows: scott westlund - $57,783 riley tommerup - $42,533 kory opp - $43,127 josh johnson - $37,117 shawn sansaver - $27,125 bryan lenz - $28,254 joshua ming - $27,689”

“The cooperative has interpreted the instructions to part ix, line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the bylaws of the cooperative.”

“The labor/payroll and other benefits, reported on lines 5 - 9 are already included in distribution expense, administrative & general expense, and customer expense. Therefore, these amounts are being subtracted out as an other deduction (allocated costs) on line 24e in the amount of $1,712,255.”