Summary of Key Dates for CU*Answers Owners - Director Handbook

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The CU*Answers current fiscal calendar begins on October 1 and ends September 30. This is an example of a board calendar of events and is subject to change. The Board of Directors sets the calendar at the beginning of each year to make planning schedules easier.

October

Reorganization meeting
Election of Chair, Vice Chair and Secretary/Treasurer
Appointment of Nominating Committee
Appointment of Handbook Committee – publish revisions in time to be included with the opening of nominations
Approval of Annual Calendar
Task 4 in the Ownership Distribution annual cycle (see Distributing Returns to Owners): Evaluate targets related to ownership distributions and performance for the previous year and set final distribution of income (for example, in October 2011 set 2011 distribution amounts based on Sept. 30th closing financials).

January

Distribution of Annual Report, Audited Financials, and Board Member Handbook to all CU*Answers stockholders
Distribution of Patronage Dividends.

At the Board’s discretion dividends may be sent in December.
Distribution of Stock Dividends
Nominating Committee begins open acceptance of applications for Board election

March 31

Nominating Committee closes acceptance of applications for Board election
Nominating Committee reviews applications and present candidates, with notification to stockholders of ballot after the board meeting

April

Nominating Committee considers petitions for additional candidates to be added to the ballot; any amendments to the ballot will be communicated to stockholders.
Mid-year Budget Revision
Annual Employee Resource Outlook report
Task 2 in the Ownership Distribution annual cycle (see Distributing Returns to Owners): Assess mid-year performance for the current business year as it relates to ownership distributions.

June

Leadership Conference
Annual Stockholders Meeting and Election of Officers
Golf Outing
Task 3 in the Ownership Distribution annual cycle (see Distributing Returns to Owners): Set targets related to ownership distributions for the next business year's budget (for example, in June 2011 set targets for the 2012 budget).

August

Annual Planning Session
Approve upcoming year Business Plan and Budget
Approve Compensation Budget
Task 1 in the Ownership Distribution annual cycle (see Distributing Returns to Owners): Evaluate targets related to ownership distributions against the projected net income of the next year's budget; ensure owners' priorities for income distributions are considered (for example, in August 2012 set 2013 budget).
Nominating Committee initiates the Board Reorganization process