Empire Electric Association Inc

“David sitton (board president) is the owner and norman butler (board director) is an employee of aspen wall wood, inc.”

“Empire electric association, inc is a member owned electric distribution cooperative.”

“The service territory is divided into seven districts. Each district is represented by one board member. Every member of the cooperative is entitled to vote for all open board of director seats either by mail or at the cooperatives annual meeting. Directors are elected for four year terms.”

“The board may not sell, merge, lease, or otherwise dispose of the cooperative assets without the affirmative vote of at least two-thirds (2/3) of the members.”

“A copy of the form 990 is circulated to the board of directors. During a board meeting, management reviews the form 990 with the board and any questions regarding the document are addressed. The board approves the form 990 at the meeting.”

“Annually the board of directors and the cooperatives senior management complete a conflict of interest disclosure statement. This disclosure statement provides the name, address, affiliation, and type of business for the organizations that have a business relationship with the coopertive and the individual completeing the disclosure statement. This policy is also reviewed annually with all employees at the cooperatives annual all employee meeting.”

“Annual financial statements are mailed to each member of the cooperative prior to the cooperatives annual meeting. In addition to these statements, a copy of the independent auditors report, board minutes and list of the current board members is published on our website. Board policies, monthly financial statement, written communications to members as a group, corporate reports delivered to the states of colorado and utah, general information about the hiring practices and salary ranges, general information about capital credits, and information provided to the cooperative as a shareholder or member of an affiliated organization is available to any member upon request. Articles of incorporation, bylaws, a list of board committees and members serving on those committees, published tariffs, and published rules and regulations are available to the general public upon request. The general public may request information available to members by submitting a request to the board of directors.”

“Other changes in net assets total $4,179,318. This is the net of capital credits allocated $5,511,513, other changes in other equities of $346,594, and retirement of capital credits of ($1,678,789).”