Matanuska Electric Association Inc

“At the april 23, 2013 annual meeting of the members, the following bylaw changes were passed: proposition 1 - allows for electronic notification of members' meetings proposition 2 - amends membership types and joint membership language proposition 3 - changes election overseer duties proposition 4 - allows for future modifications to the tenure of board members, establishes a fourth district director, and eliminates one at-large director position proposition 5 - clarifies board member qualifications and removes certain drug test requirements proposition 6 - eliminates the nominating committee and establishes the election committee and duties thereof proposition 7 - establishes the requirements for a board of directors code of ethics proposition 9 - eliminates the member advisory committee and its duties”

“The association has one class of member-owners, entitled to one vote each, that elects the board of directors to represent them.”

“The association has one class of member-owners, entitled to one vote each, that elects the board of directors to represent them.”

“The association has one class of member-owners, entitled to one vote each, whose authorization is required for the association to sell, lease, or otherwise dispose of all or a substantial portion of the association's property, or authorize the merger or consolidation of the association with another cooperative or entity.”

“The draft form 990 was reviewed by the association's tax advisor, and then reviewed with the board finance committee and provided to the board of directors prior to filing with the irs.”

“The association bylaws and management policies provide guidelines for avoiding and disclosing potential conflicts of interest. The agenda for each regular monthly meeting of the board of directors includes an agenda item for director disclosures.”

“The process for determining the compensation for the general manager was based on contract language. The general manager receives an increase or decrease by a percentage equal to the percentage change in the annual average unadjusted consumer price index for anchorage. This process was last undertaken in 2013. Form 990, part vi, section b, line 15b: board officers, like other board members, do not receive a salary, but are paid a fixed fee for each day of attendance at a meeting of the board. The fee is determined annually based on the average fixed fee paid to board members of other non-profit electric cooperatives in alaska serving more than 20,000 members. The process for determining the compensation for a key employee other than the general manager was based on performance evaluations by the general manager and adjustments are made in accordance with board policy 302-1, nonunion compensation plan, which is reviewed annually by the board. This process was last undertaken in 2013.”

“The association bylaws provide for the members ability to examine and make copies of the books and records of the association at a reasonable time and for a proper purpose in accordance with alaska statutes.”

“Increase in memberships 3,985. Increase in other margins & equities 172,644. Patronage capital retired -440,555. Patronage dividends paid (assignable to members) 6,265,202.”