Elmhurst Mutual Power and Light Company

“The corporation has a single class of members. Members shall consist of all persons and other legal entities who apply for and are admitted to membership. Each membership shall be entitled to one vote on all matters submitted to a vote of the corporation members.”

“The members of the organization elect the governing body.”

“The power to make, alter, amend or repeal decisions are vested in the board of directors, provided however, the board of directors shall provide a manner in which members may also adopt changes or make new laws.”

“Form 990 is presented to the board at the monthly meeting to be reviewed before filing with the irs.”

“The conflict of interest policy is designed to help directors, officers, and employees of the organization identify situations that present actual or potential conflicts of interest and to provide the company with procedures which, if observed, will allow a transaction to be treated as valid and binding even though a director, officer, or employee has or may have a conflict of interest with respect to the transactions. This policy is also intended to assist the organization and its directors, officer, and employees from engaging in improper transactions. Each new responsible person shall be required to review a copy of the policy. Each director and the general manager shall annually review a disclosure form identifying any relationships, positions, or circumstances in which the director or general manager is involved that reasonably could contribute to a conflict of interest. This review is conducted as part of the monthly board meeting and documented in the minutes. Prior to board or committee action of a contract or transaction or other circumstance involving a conflict of interest, a director of committee member having a conflict of interest and who is in attendance at the meeting shall disclose all the facts that a reasonably prudent person would believe material to the conflict of interest situation. Such disclosure shall be reflected in the minutes of the meeting. A person who has a conflict of interest shall not participate in or be permitted to hear the board's or committee's discussion of the matter except to disclose material facts and or respond to questions. Such person shall not attempt to exert his or her personal influence with respect to the matter, either at or outside the meeting.”

“The board is responsible for determining the salary of the organization's ceo and other key employees. This review is performed on an annual basis in january and includes a review and survey of salary information from other similar organizations in our industry. The total compensation packages are noted as approved in the board minutes.”

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

“The amounts for compensation and employee benefits in the statement of functional expenses do not include all wages for the company. The amounts shown on the statement of functional expenses pertain mainly to general and administrative wages. All other wages are integrated throughout accounts that are related to the repair, maintenance, or capital improvements of the company's utility plant.”

“Change in memberships 20,620.”

“The board of directors stand as the oversight and review committee of the audited financial statements.”