| Return Reference | Explanation |
|---|---|
| FORM 990, PAGE 6, PART VI, LINE 6 | THE COOPERATIVE HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 7A | THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BLYAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 7B | CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 11B | FORM 990 IS MADE AVAILABLE AND REVIEWED BY THE BOARD OF DIRECTORS AT A REGULAR BOARD MEETING PRIOR TO THE DUE DATE AND FILING OF THE RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THEIR CONFLICT OF INTEREST POLICY AS PROVIDED FOR IN ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE CEO'S COMPENSATION IS REVIEWED ANNUALLY BY AN INDEPENDENT COMPENSATION CONSULTANT. THE CONSULTANT PERFORMS A REVIEW OF COMPETITIVE MARKET SALARY DATA FOR CEO'S WORKING FOR ELECTRIC COOPERATIVES AND UTILITIES COMPARABLE TO THE COOPERATIVE UTILIZING METHODOLOGY CONSISTENT WITH IRS GUIDELINES FOR SETTING SALARY RANGES FOR CEO'S FOR NOT-FOR-PROFIT ORGANIZATIONS. THE CONSULTANT PRESENTS UP-TO-DATE SALARY INFORMATION IN COMPARABLY-SIZED COOPERATIVES AND SIMILAR ORGANIZATIONS BASED ON: TOTAL CUSTOMERS SERVED, OPERATING REVENUE, TOTAL UTILITY PLANT, AND WORKFORCE SIZE. BASED UPON RECOMMENDATION BY THE INDEPENDENT CONSULTANT AND A BOARD SURVEY OF THE CEO'S PERFORMANCE, THE PRESIDENTIAL APPRAISAL COMMITTEE APPROVES THE CEO'S COMPENSATION. |
| FORM 990, PAGE 6, PART VI, LINE 15B | AN INDEPENDENT CONSULTANT PERFORMS A REVIEW OF COMPETITIVE MARKET SALARY DATA FOR VICE PRESIDENTS (VP) AND HIGHLY COMPENSATED EMPLOYEES WORKING FOR SIMILAR SIZE ELECTRIC COOPERATIVES AND UTILITIES WITH COMPARABLE JOB DESCRIPTIONS. BASED ON THE CONSULTANTS RECOMMENDED SALARY RANGES AND THE EMPLOYEE'S PERFORMANCE, THE CEO APPROVES VP AND OTHER HIGHLY COMPENSATED EMPLOYEE COMPENSATION ANNUALLY. |
| FORM 990, PAGE 6, PART VI, LINE 19 | GOVERNING DOCUMENTS ARE MADE AVAILABLE TO MEMBERS AND THE PUBLIC UPON REQUEST AND THE COOPERATIVE'S WEBSITE WWW.PALMETTO.COOP. IN ADDITION, THE COOPERATIVE MAKES ITS BYLAWS, CERTAIN POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. |
| FORM 990, PART XI, LINE 9 | MEMBERSHIPS 5,190 PATRONAGE CAPITAL CREDITS 7,493,049 OTHER 139,025 CHANGE IN UNBILLED 698,380 PATRONAGE CAPITAL CREDIT RETIREMENTS -3,259,959 MARGIN STABALIZATION PLAN TIER ADJUSTMENT -2,144,426 TOTAL 2,931,259 |
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