Pacific Northwest Generating Cooperative DBA Pngc Power

“The organization is a utility cooperative serving its members.”

“Members elect the board of directors by a majority vote of the number of members present, entitiled to vote, and voting at a meeting in which a quorum is present. The terms of the directors are staggered.”

“Certain governance decisions are reserved to or subject to approval by a majority vote of the number of members present, entitled to vote, and voting at a meeting at which a quorum is present: 1. Election of the board of directors 2. Reinstatement of an expelled member under cettain conditions; and 3. Disposition of all or substantially all pngc property, with certain exceptions related to the pledging or encumbering or property or assets.”

“Committees can only recommend actions to the full board. They cannot act on behalf of the governing body without board affirmation.”

“A final draft of the form 990 is sent to the board electronically for their review and comment prior to issuance.”

“The compliance policy is reviewed on an annual basis and discussed with directors and key employees.”

“National surveys are used to assess the pay scales for executive positions annually and all decisions go before the board for approval. Every 3-5 years a consulting firm, such as milliman, is hired to do a compensation survey. Individual salary actions are based on performance within the range established by the board.”

“Governing documents, conflict of interest policy and financial statemetns are not made available to the public.”

“The mission of pngc power is to maximize the competitive position of its member-owners by meeting their collective power supply and management needs. Pngc power is a cooperatively owned business providing economic and strategic value through innovation, technical and policy leadership, and maintenance of the highest professional standards.”

“Unrealized holding gains 65,968. Reclassification adjustment for net (gains)/losses included in net margins -104,563.”