Central Electric Cooperative Inc

“Any person, firm, corporation or political body may become a member in the cooperative by paying the required membership fee, purchasing electric energy from the cooperative and agreeing to be bound by the articles of association and by-laws of the cooperative. If the above requirements are met the board of directors approves the applicant as a member. Each member is entitled to one vote. All questions at member meetings will be decided by a vote of majority of the members voting thereon when a quorum is present.”

“An election will be held by written vote through the mail for a contested board seat. Each member in the district with the contested board seat is entitled to one vote, and a majority vote decides the successful candidate.”

“Data was prepared by the accounting department and submitted to the cpa firm for review. Before filing the board reviews the form 990 with the ceo and vp of finance and accounting at a regular board meeting.”

“A conflict of interest certification and disclosure form is distributed to each officer, director, trustee, and key employee annually to be completed, signed, and forwarded for review by the board of directors. When a conflict arises the board of directors will take appropriate action.”

“Ceo and other top management salaries are determined based upon comparison of national, regional, and state compensation data for similar positions. This data is presented annually to the board for review.”

“The conflict of interest is not made available to the public. Audited financial statements, governing and organization documents are made available to members upon request.”

“Membership additions 2,630. Retirement of capital credits, net -3,417,542. Donated capital 796,686. Amount of benefits paid to members per 990 instructions, interpreted to equal net margins as that is the equivalent of the benefits members receive in the current year 6,782,943.”