2024-05-14T16:02:03-05:00 2023-06-30 521073331 DEMBO JONES PC 6116 EXECUTIVE BLVD SUITE 500 NORTH BETHESDA MD 20852 990 2022-07-01 530204609 NATIONAL ASSOCIATION OF REGULATORY UTILITY COMMISSIONERS NATI 2028982200 1101 VERMONT AVENUE NW 200 WASHINGTON DC 20005 GREG R WHITE EXECUTIVE DIRECTOR 2028982200 2024-05-14 1 GREG WHITE 999009999 0 DAVID J SHERDEL CPA P01306021 3017705100 2024-05-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GREG R WHITE 1101 VERMONT AVENUE NW 200 WASHINGTON DC 20005 19261092 0 X WWW.NARUC.ORG X 1889 DC TO SERVE THE PUBLIC INTEREST BY IMPROVING THE QUALITY AND EFFECTIVENESS OF PUBLIC UTILITY REGULATION. 38 38 57 121 0 0 7796400 10168236 3476229 5613385 493548 111655 19916 52799 11786093 15946075 1716220 1474574 0 0 7006727 8358725 0 0 0 3305691 5365569 12028638 15198868 -242545 747207 13222705 16319185 4325265 5895975 8897440 10423210 X FOUNDED IN 1889, THE NATIONAL ASSOCIATION OF REGULATORY UTILITY COMMISIONERS (NARUC) IS A NON-PROFIT ORGANIZATION DEDICATED TO REPRESENTING THE STATE PUBLIC SERVICE COMMISIONS WHO REGULATE THE UTILITIES THAT PROVIDE ESSENTIAL SERVICES SUCH AS ENERGY, TELECOMMUNICATIONS, WATER AND TRANSPORTATION. 0 0 9262003 1474574 207183 EDUCATION, GRANTS AND RESEARCH - PURPOSE IS TO STUDY THE DEVELOPMENT OF DIVERSE ENERGY RESOURCES, INCLUDING CLEAN ENERGY; TO STUDY EMERGING ISSUES IN THE ELECTRIC POWER AND NATURAL GAS INDUSTRIES, INCLUDING COMPETITIVE MARKET FORCES, ENERGY SECURITY AND RESILIENCE, AND SYSTEM PLANNING AS IT RELATES TO GRID MODERNIZATION; TO EXCHANGE INFORMATION ABOUT NEW UTILITY COMMISSIONS IN DEVELOPING COUNTRIES WORLWIDE; AND TO FACILITATE TRAINING AND CONSULTING SUPPORT TO STATE COMMISSIONS. 1847660 3888306 MEETINGS - PURPOSE IS TO PROMOTE THE STUDY AND DISCUSSION OF MEANS TO MAKE PUBLIC UTILITIES AND CARRIERS MORE RESPONSIVE TO THE NEEDS OF THE PUBLIC. 1460621 1517896 POLICY DEVELOPMENT & GOVERNMENT AFFAIRS- POLICY DEVELOPMENT - PURPOSE IS TO PROVIDE STAFF SUPPORT AND GUIDANCE TO ITS COMMITTEES RESPONSIBLE FOR DEVELOPING THE ASSOCIATION'S POLICY POSITIONS ON ISSUES INVOLVED IN THE REGULATION OF TELECOM, ENERGY AND WATER UTILITIES. THESE POLICY POSITIONS ARE SUBSEQUENTLY ADOPTED BY THE NARUC BOARD OF DIRECTORS TO REPRESENT THE CONSENSUS VIEWS OF NARUC'S MEMBERSHIP. GOVERNMENT AFFAIRS - PURPOSE IS TO ASSIST ITS PRINCIPAL MEMBERS, STATE REGULATORY AGENCIES ENGAGED IN THE REGULATION OF PUBLIC UTILITIES, AS A LIAISON TO AND ADVOCATE BEFORE THE U.S. CONGRESS, AGENCIES AND THE FEDERAL COURTS. 12570284 0 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 40 0 1 57 1 0 0 0 0 0 0 0 0 0 0 0 0 X 38 38 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X GREG R WHITE 2028982208 1101 VERMONT AVE NW NO 200 WASHINGTON DC 20005 MICHAEL CARON PRESIDENT 5.00 X X 0 0 0 JULIE FEDORCHAK FIRST VICE PRESIDENT 5.00 X X 0 0 0 TRICIA PRIDEMORE SECOND VICE PRESIDENT 5.00 X X 0 0 0 TONOLA BROWN-BLAND TREASURER 5.00 X X 0 0 0 ABIGAIL ANTHONY BOARD MEMBER 1.00 X 0 0 0 ANN RENDAHL BOARD MEMBER 1.00 X 0 0 0 ART GRAHAM BOARD MEMBER 1.00 X 0 0 0 BOB ANTHONY BOARD MEMBER 1.00 X 0 0 0 BRAD JOHNSON BOARD MEMBER 1.00 X 0 0 0 BRANDON PRESLEY BOARD MEMBER 1.00 X 0 0 0 CHRIS NELSON BOARD MEMBER 1.00 X 0 0 0 CRYSTAL RHOADES BOARD MEMBER 1.00 X 0 0 0 D ETHAN KIMBREL BOARD MEMBER 1.00 X 0 0 0 DALLAS WINSLOW BOARD MEMBER 1.00 X 0 0 0 DANIEL SCRIPPS BOARD MEMBER 1.00 X 0 0 0 DAVID CLARK BOARD MEMBER 1.00 X 0 0 0 DAVID E ZIEGNER BOARD MEMBER 1.00 X 0 0 0 DAVID W DANNER BOARD MEMBER 1.00 X 0 0 0 DIANNE SOLOMON BOARD MEMBER 1.00 X 0 0 0 ELLEN NOWAK BOARD MEMBER 1.00 X 0 0 0 ERIC SKRMETTA BOARD MEMBER 1.00 X 0 0 0 GLADYS M BROWN DUTRIEUILLE BOARD MEMBER 1.00 X 0 0 0 HAYLEY WILLIAMSON BOARD MEMBER 1.00 X 0 0 0 JEHMAL HUDSON BOARD MEMBER 1.00 X 0 0 0 JEREMY ODEN BOARD MEMBER 1.00 X 0 0 0 JOHN W BETKOSKI III PAST PRESIDENT 1.00 X 0 0 0 JUDITH W JAGDMANN PAST PRESIDENT 1.00 X 0 0 0 KENNETH HILL BOARD MEMBER 1.00 X 0 0 0 KIMBERLY A O'GUINN BOARD MEMBER 1.00 X 0 0 0 LILLIAN MATEO-SANTOS BOARD MEMBER 1.00 X 0 0 0 MAIDA J COLEMAN BOARD MEMBER 1.00 X 0 0 0 MARY-ANNA HOLDEN BOARD MEMBER 1.00 X 0 0 0 MATTEW SCHUERGER BOARD MEMBER 1.00 X 0 0 0 ODOGWU OBI LINTON ESQ BOARD MEMBER 1.00 X 0 0 0 SARAH FREEMAN BOARD MEMBER 1.00 X 0 0 0 TREMAINE L PHILLIPS BOARD MEMBER 1.00 X 0 0 0 JEFFREY A HUGHES BOARD MEMBER 1.00 X 0 0 0 DAVID E ZIEGNER BOARD MEMBER 1.00 X 0 0 0 GREG R WHITE EXECUTIVE DIRECTOR 40.00 2.00 X 353266 0 46680 JAMES B RAMSAY GENERAL COUNCIL 40.00 X 279292 0 42711 AIDA P TIMM SR. DIRECTOR, FINANCE & GRANTS ADMINISTRATION 40.00 X 204552 0 32045 JENNIFER MURPHY SR. DIRECTOR, ENERGY POLICY 40.00 1.00 X 260857 0 18950 HISHAM CHOUEIKI PRINCIPAL TECHNICAL ADVISOR, ENERGY REGULATION 40.00 X 203731 0 35142 MICHELLE A MALLOY SR DIRECTOR OF MEETING 40.00 X 202994 0 44272 ERIN HAMMEL SR. DIRECTOR, INTERNAL PROGRAM 40.00 X 202195 0 23338 DANIELLE BYRNETT SR. DIRECTOR CENTER FOR PARTNERSHIPS & INNOVATION 40.00 X 196736 0 32988 1903623 0 276126 22 0 1 0 CONVERGE STRATEGIES LLC 50 HOLBROOK ST BOSTON MA 02130 CONSULTING SERVICES 223559 JACKOTECH 5691 SYCAMORE CANYON DR KISSIMMEE FL 34758 AUDIO VISUAL 196947 NEOS GROUP INC 100 OCEANGATE STE 1200 LONG ISLAND CA 90802 CONSULTING SERVICES 196713 BOLDT FINANCIAL SOLUTIONS 332 WEST LEE HIGHWAY STE 215 WARRINGTON VA 20186 ACCOUNTING SERVICES 159953 THE CADMUS GROUP LLC ONE CENTER PLAZA STE 320 BOSTON MA 02108 CONSULTING SERVICES 121623 7 10168236 10168236 MEETINGS AND SEMINARS 541900 3654529 3654529 MEMBER ASSESSMENTS 541900 1517896 1517896 CONTRACTS 541900 207183 207183 MEETING SPONSORSHIP 541900 135333 135333 SUBSCRIPTION AND SALES 541900 98444 98444 5613385 229266 229266 3197406 3315017 -117611 -117611 -117611 ADMINISTRATIVE FEES 561000 42827 42827 MISCELLANEOUS 900099 9972 9972 52799 15946075 5613385 0 164454 840487 840487 29962 29962 604125 604125 1010343 333655 676688 25372 25372 4630896 3671401 959495 276633 219316 57317 1946466 1543170 403296 469015 371838 97177 9893 9893 154487 154487 54988 54988 740128 387802 352326 136440 86013 50427 765852 599041 166811 1462326 1365792 96534 1431697 1412838 18859 105330 91637 13693 MISCELLANEOUS 292206 172338 119868 SUBSCRIPTIONS 150642 126757 23885 PRINTING AND REPORDUCTI 44854 41499 3355 REGISTRATION 15226 6288 8938 1500 666325 -664825 15198868 12570284 2628584 0 935605 1702217 2060848 2207034 225440 493354 94034 75481 1440314 1210546 335098 229768 9482141 10020730 89539 1590601 13222705 16319185 1881682 1949677 408722 771823 1100240 956528 934621 2217947 4325265 5895975 X 8781273 10287877 116167 135333 8897440 10423210 13222705 16319185 747207 692739 85824 0 X X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 7315620 7315620 10379371 3063751 7315620 10379371 10379371 10379371 10379371 10379371 10379371 1.00000 0 0 823950 617986 205964 216954 214566 2388 399410 377994 21416 229768 DEPOSITS 107699 RIGHT OF USE ASSET 1482902 1590601 OBLIGATIONS UNDER CAPITAL LEASE 2304 ACCRUED SEVERANCE PAYABLE 120083 DUE TO COMMITTEES 120059 OPERATING LEASE LIABILITY 1975501 2217947 X 17194023 692739 610197 1302936 15891087 54988 54988 15946075 15754077 610197 610197 15143880 54988 54988 15198868 PART X, LINE 2: NARUC IS A NONPROFIT ORGANIZATION AS DEFINED BY THE INTERNAL REVENUE CODE (IRC) SECTION 501(C)(4). INCOME DERIVED FROM ITS EXEMPT PURPOSE ACTIVITIES IS NOT SUBJECT TO INCOME TAX. NARUC IS SUBJECT TO FEDERAL AND DISTRICT OF COLUMBIA TAX ON ANY UNRELATED BUSINESS INCOME. NARUC IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE ORGANIZATION'S FEDERAL AND STATE INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAX AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THE RETURNS ARE FILED. NARUC IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 970825 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 289327 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 757206 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 272812 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 415671 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 1218394 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 54273 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 PROGRAM SERVICES TECHNICAL ASSISTANCE 2518064 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES TEHCNICAL ASSISTANCE 167208 0 0 0 0 0 0 6496572 167208 6663780 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, TECHNICAL ASSISTANCE 113658 0 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, TECHNICAL ASSISTANCE 216770 0 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, TECHNICAL ASSISTANCE 58700 0 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, TECHNICAL ASSISTANCE 38242 0 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, TECHNICAL ASSISTANCE 32011 0 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, TECHNICAL ASSISTANCE 30251 0 RUSSIA AND NEIGHBORING STATES TECHNICAL ASSISTANCE 59950 0 SUB-SAHARAN AFRICA TECHNICAL ASSISTANCE 16800 0 0 6 TECHNICAL ASSISTANCE RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 1 12000 TECHNICAL ASSISTANCE RUSSIA AND NEIGHBORING STATES 1 25743 0 0 0 0 0 0 PART I, LINE 2: NARUC'S INTERNAL POLICY OUTLINES PROCEDURES FOR MONITORING, REVIEW AND EXPENDITURE APPROVAL TO ENSURE COMPLIANCE WITH FEDERAL REQUIREMENTS AND PROJECT BUDGET CONSISTENCY. ASSIGNED STAFF PROVIDE FISCAL AND ADMINISTRATIVE OVERSIGHT OF ALL GRANTS. MONITORING IS ACCOMPLISHED THROUGH DIFFERENT LEVELS OF REVIEWS PERFORMED BY NARUC STAFF INCLUDING ON SITE REVIEWS. PART III ACCOUNTING METHOD: 1 NEOS GROUP INC 100 OCEANGATE SUITE 1200 LONG ISLAND CA 90802 117304392 48168 0 CYBERSECURITY -TECHICAL ASSISTANCE ESTA INTERNATIONAL 21526 RIDGETOP CIRCLE SUITE 200 STERLING VA 20167 264709007 67650 0 TECHNICAL ASSISTANCE - CENTRAL AMERICAN REGIONAL THE CADMUS GROUP LLC 100 5TH AVENUE SUITE 100 WALTHAM MA 02451 042793775 153246 0 TECHNICAL ASSISTANCE JQ RESOURCES LLC 46320 STATION ROAD NEW BUFFALO MI 49117 812527195 34597 0 TECHNICAL ASSISTANCE - MOROCCO/RWANDA JQ RESOURCES LLC 46320 STATION ROAD NEW BUFFALO MI 49117 812527195 18020 0 TECHNICAL ASSISTANCE - SRI LANKA JQ RESOURCES LLC 46320 STATION ROAD NEW BUFFALO MI 49117 812527195 15588 0 TECHNICAL ASSISTANCE - NIGERIA JQ RESOURCES LLC 46320 STATION ROAD NEW BUFFALO MI 49117 812527195 11977 0 TECHNICAL ASSISTANCE ENERGY VENTURES ANALYSIS INC 1901 N MOORE STREET SUITE 1200 ARLINGTON VA 22209 541184349 6189 0 TECHNICAL ASSISTANCE HUNTERSTON CONSULTING PO BOX 474 NORTHPORT MI 49670 833410571 12825 0 TECHINCAL ASSISTANCE KNOWLEDGE PROBLEM LLC 1246 W WINNEMAC AVE APT 4 CHICAGO IL 60640 833500741 6216 0 TECHINCAL ASSISTANCE PLUGGED IN STRATEGIES 9492 OLYMPIA DRIVE EDEN PRAIRIE EDEN PRAIRIE MN 55347 821060591 25913 0 TECHNICAL ASSISTANCE CONVERGE STRATEGIES LLC 50 HOLBROOK STREET BOSTON BOSTON MA 02130 820679269 237978 0 TECHNICAL ASSISTANCE PUBLIC SECTOR CONSULTANTS 230 N WASHINGTON SQUARE SUITE 300 LANSING MI 48933 382402199 90760 0 TECHNICAL ASSISTANCE ENERGY AND ENVIRONMENTAL ECONOMICS 4 MONTGOMERY STREET SUITE 1500 SAN FRANCISCO CA 94104 943218646 52052 0 TECHNICAL ASSISTANCE - ARMENIA THE NATIONAL ASSOCIATION OF STATE ENERGY OFFICIALS 1300 NORTH 17TH STREET SUITE 1275 ALEXANDRIA VA 22209 521474553 501(C)(3) 19490 0 TECHNICAL ASSISTANCE E9 INSIGHT 3020 JEFFERSON STREET BOULDER CO 80304 464276371 21332 0 TECHNICAL ASSISTANCE ELECTRIC POWER RESEARCH INSTITUTE INC PO BOX 10412 PALO ALTO CA 94303 237175375 501(C)(3) 5005 0 TECHNICAL ASSISTANCE ELEVATED ENGAGEMENT 1233 CHARTWELL CARRIAGE WAY N EAST LANSING MI 48823 920800565 13481 0 TECHNICAL ASSISTANCE 2 13 TECHNICAL ASSISTANCE 1 15304 TECHNICAL ASSISTANCE 1 9658 TECHNICAL ASSISTANCE 1 5000 PART I, LINE 2: NARUC'S INTERNAL POLICY OUTLINES PROCEDURES FOR MONITORING, REVIEW AND EXPENDITURE APPROVAL TO ENSURE COMPLIANCE WITH FEDERAL REQUIREMENTS AND PROJECT BUDGET CONSISTENCY. ASSIGNED STAFF PROVIDE FISCAL AND ADMINISTRATIVE OVERSIGHT OF ALL GRANTS. MONITORING IS ACCOMPLISHED THROUGH DIFFERENT LEVELS OF REVIEWS PERFORMED BY NARUC STAFF INCLUDING ON SITE REVIEWS. 1 X X X 0 0 0 0 0 0 0 0 0 GREG R WHITE EXECUTIVE DIRECTOR 353266 0 0 0 0 0 8700 0 37980 0 399946 0 0 0 JAMES B RAMSAY GENERAL COUNCIL 279292 0 0 0 0 0 8002 0 34709 0 322003 0 0 0 JENNIFER MURPHY SR. DIRECTOR, ENERGY POLICY 260857 0 0 0 0 0 7451 0 11499 0 279807 0 0 0 MICHELLE A MALLOY SR DIRECTOR OF MEETING 202994 0 0 0 0 0 5840 0 38432 0 247266 0 0 0 HISHAM CHOUEIKI PRINCIPAL TECHNICAL ADVISOR, ENERGY 203731 0 0 0 0 0 5556 0 29586 0 238873 0 0 0 AIDA P TIMM SR. DIRECTOR, FINANCE & GRANTS ADMIN 204552 0 0 0 0 0 5409 0 26636 0 236597 0 0 0 DANIELLE BYRNETT SR. DIRECTOR CENTER FOR PARTNERSHIPS 196736 0 0 0 0 0 5243 0 27745 0 229724 0 0 0 ERIN HAMMEL SR. DIRECTOR, INTERNAL PROGRAM 202195 0 0 0 0 0 5659 0 17679 0 225533 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A EXECUTIVE COMMITTEE SHALL CONSIST OF VOTING MEMBERS IN THE CAPACITY OF THE PRESIDENT, THE FIRST VICE PRESEIDENT, THE SECOND VICE PRESIDENT, AND TWO ADDITIONAL MEMBERS APPOINTED BY THE PRESIDENT. THE EXECUTIVE COMMITTEE SHALL RECOMMEND THE SELECTION OF THE EXECUTIVE DIRECTOR AND SHALL PROVIDE POLICY GUIDANCE AND SUPERVISE THE ACTIVITIES OF THE EXECUTIVE DIRECTOR WITHIN THE FRAMEWORK OF POLICIES ADOPTED BY THE BOARD OF DIRECTORS. THE EXECUTIVE SHALL RECOMMEND POLICY REVISIONS TO THE BOARD OF DIRECTORS AND SHALL UNDERTAKE OTHER ACTIONS AND RESPONIBILITIES AS DELEGATED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION OUT-SOURCED CFO DUTIES TO BOLDT FINANCIAL WHILE LOOKING FOR A PERMANENT EMPLOYEE FOR THE POSITION. THE COMPANY PAID $159,953 FOR THE 2022 CALENDAR YEAR. FORM 990, PART VI, SECTION A, LINE 6 NARUC'S MEMBERS INCLUDE THE GOVERNMENTAL AGENCIES THAT ARE ENGAGED IN THE REGULATION OF UTILITIES AND CARRIERS IN THE FIFTY STATES, THE DISTRICT OF COLUMBIA, PUERTO RICO AND THE VIRGIN ISLANDS. NARUC'S MEMBER AGENCIES REGULATE THE ACTIVITIES OF TELECOMMUNICATIONS, ENERGY AND WATER UTILITIES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ASSOCIATION ELECT THE OFFICERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE ASSOCIATION MUST APPROVE CHANGES TO THE BYLAWS AND THE CONSTITUTION. FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND EXECUTIVE DIRECTOR CONDUCT AN INITIAL REVIEW AND THEN PASS THE RETURN ON TO THE ASSOCIATION'S AUDIT COMMITTEE FOR REVIEW AND APPROVAL BEFORE THE FORM 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REQUIRES FULL DISCLOSURE OF ALL ACTUAL AND POTENTIAL CONFLICTS OF INTEREST. EACH COVERED OFFICIAL SHALL DISCLOSE ANY AND ALL FACTORS THAT MAY BE CONSTRUED AS A CONFLICT OF INTEREST. BOTH THROUGH AN ANNUAL DISCLOSURE PROCESS AND WHENEVER SUCH ACTUAL OR POTENTIAL CONFLICT OCCURS, THE BOARD WILL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS AND WHETHER OR NOT SUCH CONFLICT MATERIALLY AND ADVERSELY AFFECTS THE INTERESTS OF NARUC. A COVERED OFFICIAL WHOSE POTENTIAL CONFLICT IS UNDER REVIEW MAY NOT DEBATE, VOTE OR OTHERWISE PARTICIPATE IN SUCH DETERMINATION. IF IT IS DETERMINED THAT AN ACTUAL OR POTENTIAL CONFLICT DOES EXIST, THE BOARD SHALL DETERMINE AN APPROPRIATE REMEDY. THE BOARD OF DIRECTORS MAY DELEGATE ITS AUTHORITY TO REVIEW AND REMEDY POTENTIAL CONFLICTS OF INTEREST TO THE NARUC EXECUTIVE COMMITTEE. ONLY DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE MAY PARTICIPATE IN ANY SUCH REVIEW. THE EXECUTIVE COMMITTEE SHALL INFORM THE BOARD OF ITS DETERMINATION AND RECOMMENDED ACTION. THE BOARD SHALL RETAIN THE RIGHT TO MODIFY OR REVERSE SUCH DETERMINATION AND ACTION, AND SHALL RETAIN THE ULTIMATE ENFORCEMENT AUTHORITY WITH RESPECT TO THE INTERPRETATION AND APPLICATION OF THIS POLICY. ON AN ANNUAL BASIS, EACH MEMBER OF THE BOARD OF DIRECTORS SHALL BE PROVIDED WITH A COPY OF THIS POLICY, AND SHALL COMPLETE AND SIGN THE ACKNOWLEDGEMENT AND DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 NARUC EXECUTIVE DIRECTOR COMPENSATION: THE PROCESS OF DETERMINING THE EXECUTIVE DIRECTOR COMPENSATION IS MADE BY THE EXECUTIVE COMMITTEE MEMBERS WHO ARE NOT EMPLOYEES OF THE ASSOCIATION AND RECEIVE NO COMPENSATION FROM THE ASSOCIATION. NARUC RELIES ON INDUSTRY SALARY SURVEYS, EXECUTIVE COMPENSATION REVIEWS BY A PROFESSIONAL MANAGEMENT FIRM, AND OTHER COMPARABLE INFORMATION TO REVIEW THE COMPENSATION OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR IN CONSULTATION WITH THE NARUC DEPARTMENT HEADS DETERMINES THE COMPENSATION OF OTHER KEY PERSONNEL. NARUC STAFF COMPENSATION: NARUC RELIES ON INDUSTRY SALARY SURVEYS, COMPENSATION ANALYSIS BY A PROFESSIONAL MANAGEMENT FIRM, AND OTHER COMPARABLE INFORMATION TO REVIEW THE COMPENSATION OF THE EXECUTIVE DIRECTOR AND KEY PERSONNEL. GENERALLY, EVERY 3-4 YEARS THE ASSOCIATION ENLISTS A THIRD-PARTY CONSULTANT TO PERFORM A COMPENSATION ANALYSIS FOR EACH NARUC STAFF POSITION. THE ANALYSIS REPORT PROVIDES SALARY RANGES FOR EACH STAFF POSITION. THESE RANGES ARE SHARED WITH DEPARTMENT DIRECTORS AND USED WHEN DETERMINING THE COMPENSATION OF OTHER KEY PERSONNEL AND MAKING FUTURE HIRING DECISIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION MAKES ITS FINANCIAL STATEMENTS, CONFLICT OF INTEREST AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. NATIONAL REGULATORY RESEARCH INSTITUTE (NRRI) 1101 VERMONT AVE STE 200 NW WASHINGTON DC 20005 261439365 RESEARCH DE 501(C)(3) LINE 11 NATIONAL ASSOCIATION OF REGULATORY UTILITY COMMISSIONERS 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0