Mountain View Electric Association

“The organization is a member owned cooperative.”

“Members elect the board of directors.”

“At the annual meetings the members vote on any changes to the articles of incorporation.”

“There were no committees that were granted broad authority to act on behalf of the board.”

“The form 990 is prepared by the organization's independent accountant based on information provided by management. The board of directors then review the form 990 prior to filing.”

“A "certificate to disclose any conflicts of interest" will be completed annually by each director, the ceo, each executive team member, and the association attorney. In addition, any newly appointed or elected board members or individuals recently hired in the capacity of ceo, executive team or association attorney will complete a "certificate to disclose any conflicts of interest." these certificates will be submitted to the board president for review and appropriate action. The association attorney will be responsible for maintaining a current file of these certificates. When a potential conflict of interest or a situation arises that violates, may violate, or could appear to violate the intent of this policy, they will make a full and open disclosure of the facts to the board. The board will make the proper inquiry, request the opinion of the association attorney, and make a determination if a violation of the policy or a conflict of interest exists. If this determination is made, the director will be excused from the meeting; and the director will disqualify themselves from discussion and decisions which pose a conflict of interest or the appearance of a conflict of interest. If a director with a conflict of interest that is known to other directors does not declare the conflict of interest or leave the meeting following such a declaration and determination, the board may, upon motion, vote to direct the director to leave the meeting for the discussion and vote.”

“Salary data is gathered and reviewed from outside sources and board of directors make the final salary decisions which is documented in the board minutes. Wage information from a third party is used to determine the compensation for the ceo as well as the other officers and key employees. This process was last completed in 2019.”

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

“The irs instructions state that patronage dividends paid by section 501(c)(12) organizations to their members should be reported on line 4. The organization has interpreted patronage dividends paid to mean patronage dividends allocated or to be allocated for the current year. Since this allocation is not an expense under generally accepted accounting principles (gaap), this has resulted in a reconciling item to net assets in part xi on page 12.”

“Patronage dividends allocated 8,543,076. Capital credits retired -3,543,771. Retirements -980,167.”

“The audit for mountain view electric association is done as of july 31. The reporting period for the audit, therefore, does not match the reporting period of the 990.”