Copper Valley Electric Association Inc

“Copper valley electric association is a rural electric cooperative owned and governed by its members. The members elect the members of the board of directors, approve significant decisions of the board, and receive a share of the cooperative profits and a share of the cooperative net assets upon the cooperative dissolution. Members of the cooperative are those persons who own or use property which receives electric service from the cooperative and who have been accepted as a member by the cooperative.”

“Each member is entitled to one vote on each matter submitted to a vote at an election, including the election of members of the board of directors, ballot proposition and advisory votes. Changes to the cooperative's bylaws are voted by sealed ballots. The cooperative has two geographic districts. Members are assigned to their district based on geographical designation in the cooperative's bylaws. Should a member be considered eligible for membership in either district, such member shall choose his district and shall not change his election until one week after the annual membership meeting following his choice of district. Annual meetings of members shall be held by district. District meetings shall be held at such time and place designated by the board of directors. Business may be conducted at a district membership meeting to include, but not limited to, electing directors and conducting such business as may require the vote of the membership according to law and the cooperative's bylaws.”

“Form 990 is reviewed by cvea cfo and by cvea ceo before it is signed and filed.”

“Cvea's code of ethics and conflict of interest are self governed by individual directors. This is possible because the directors are all part of a small community. When one director perceives a potential conflict of interest or ethics violation, they raise the issue to the board for discussion. Cvea is currently working on enhancing it's current policy to better align with form 990, part vi, section b, line 12 instructions.”

“Raise in grade program is prepared by an independent accountant hired by the board. There is an established methodology based upon industry data and 800 other electric cooperatives. Numbers are updated annually. Salary plan covers all non union employees and there is a separate plan with the same methodology for the ceo. The board sets the ceo's salary.”

“Upon request. Financial statements are available via the website and are mailed to each member via the annual report. Bylaws/articles are given to new members and are also available on the website. Most governance policies are on the website.”

“Retirement of capital credits -827,036. Assignable margins -360,343. Interest earned on r&r fund -133,609. R&r fund maintenance adj -1,202,884. Depreciation adjustment 1,032,557. Benefits adjustment -62,137.”