Upper Missouri G&T Electric Cooperative

“The cooperative has only one class of members. Each member has one voting right.”

“The member cooperatives elect a board member and an alternate that will fill in during the director's absence to represent their cooperative on the board of directors.”

“Each member cooperative provides a delegate and alternate delegate, along with the board member to the annual meeting to vote on items on the agenda at the annual meeting.”

“There are no committees that have the authority to act on behalf of the governing board.”

“The form 990 was reviewed by the general manager and controller. A copy was provided electronically to the board before filing form 990 with the irs.”

“The conflict of interest policy is reviewed annually by the board of directors and officers of the organization. The board reviews any potential conflicts, and the individual with the potential conflict abstains from discussions and voting on the issue at hand.”

“Each board member annually completes a questionnaire rating the general manager in different performance areas. The legal counsel compiles the ratings and provides the results to the board. The board then discusses the summary internally and then with the general manager. The board also uses comparability data through the use of the nreca compensation study. There are no other officers or key employees of the organization.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Compensation of officers: included in part vii, section a, column "f", estimated amount of other compensation is the estimated annual increase in the actuarial value of the defined benefit plan. For the following individuals listed, the estimated increase is: jeremy mahowald: $157,212, brent hanson: $12,276, and justin boyer: $2,010. This amount is an estimate in the increase of the value of the plan and is not current year expenses of the cooperative. Current year contributions into the defined benefit plan by upper missouri g&t electric cooperative were: jeremy mahowald: $58,960, brent hanson: $40,323, and justin boyer: $4,243. These amounts are current year expenses and therefore included in the statement of functional expenses.”

“Allocated costs: the labor and pension reported on lines 5-8 are already included in administrative & general expense and transmission expense. Therefore, these amounts are being subtracted out as an other deduction on line 24e in the amount of $(901,840).”

“Benefits paid to members: 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.”

“Retirement of capital credits -260,401. Retirement of capital credits - basin -4,118,544. Patronage capital credits allocated during current year 45,418,925.”

“There has been no change to the oversight or selection process of the independent auditors. The full board of directors reviews and approves the independent auditors.”