United Electric Co-Op Inc

“Businesses and individuals who receive electric services from the cooperative.”

“Each year, petittions are accepted for candidates to run for election to the governing body. The candidates are placed on a ballot and members of the organization vote at an annual meeting to elect members of the governing body. Voting is allowed in person at the meeting, by proxy or by absentee ballot.”

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

“After the form 990 has been prepared by the independent accountants, the general manager reviews the form with accounting staff for accuracy and completeness. Once the general manager believes the form is complete and accurate, the form is submitted to the board for their review and approval. Upon receiving their approval, the general manager signs the form and files.”

“Both the board of directors and the general manager enforce the policy. The board and general manager review any potential conflicts of interest at least annually, and discuss them in order to determine the appropriate form of action, if necessary, in accordance with the policy.”

“The board of directors reviews the general managers current compensation and, to the extent possible, compares it to the compensation of the general managers of other comparably-sized electric cooperatives within the region. Additionally, the board reviews the general managers 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 managers compensation package.”

“The general manager reviews the current compensation of key employees and, to the extent possible, compares them to the compensation of similar positions of other comparably-sized electric cooperatives within the region. Additionally, the general manager reviews key employees compensation relative to the compensation of equivalent 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 general manager approves the compensation of key employees with confirmation from the board of directors.”

“The organization reponds to members inquiries for information. Customer service rules & corporate by-laws are available to the member on the organizations secured website. Printed policies or financial information is provided upon request of the member, in accordance with board policy.”

“Other changes in net asset totaled $1,573,939. This total cames from a change in memberships of $7,900, discount on deceased patronage of $58,643, patronage capital to be allocated of $2,270,467, retirement of capital credits $(832,696), decrease in other equities $(5,432) and unclaimed capital credits of $75,057.”