The official 84th Annual Meeting of the Membership of North Georgia EMC. This video was recorded in advance to ensure quality production. We hope you enjoy the meeting!
Para asistencia con la reunión, por favor llame cualquier oficina de North Georgia Electric.
Emergency Bylaws enacted by the NGEMC Board of Directors on May 21, 2020 allowed members to register online or by phone for the 2020 Annual Meeting.
All financials presented in this meeting are under review by independent auditors and will be posted to www.ngemc.com/report after the audit is complete.
The NGEMC 2020 Annual Meeting Video is a production of NGEMC. Narration provided by Cynthia Wilson and additional drone imagery provided by Mach 3 Aerial Photography.
North Georgia EMC is an equal opportunity provider and employer.
2020 Financial Statements
|Property, Plant and Equipment||462,289,825|
|Total Fixed Assets||333,286,353|
|Accounts Receivable - Net||11,291,590|
|Materials & Supplies||2,824,112|
|Other Current Assets||8,594,802|
|Total Current Assets||30,144,963|
|Investments in Associated Organizations||4,103,558|
|Other Special Funds||488,178|
|Energy Right Program Loans||4,647,367|
|Prepaid Expense & Clearing Accts||814,430|
|Other Deferred Debits||353,854|
|Total Other Assets||10,407,387|
LIABILITIES AND NET WORTH
|Other Current Liabilities||11,225,268|
|Total Current Liabilities||33,488,335|
|Energy Right Program Payable||4,799,816|
|Long-Term Debt & Post Retire Benefits||134,032,839|
|Total Other Liabilities||138,832,655|
|Beginning of Year||194,799,731|
|Current Net Income||5,878,852|
|Total Earnings Reinvested in System Assets||200,678,583|
|Total Liabilities and Net Worth||373,838,703|
|Sales of Electric Energy||230,644,556|
|Total Operating Revenue||238,297,269|
|Customer Accounting & Collecting||5,573,271|
|Administration & General||8,303,357|
|Depreciation & Amortization||16,451,046|
|Total Operating Expenses||228,471,196|
|Misc. Income Deduction||(55,058)|
|Other Income - Interest||1,634,405|
|Other Expense - Interest||(5,526,568)|
|Net Income from Operations||5,878,852|
|Investment in Electric Plant|
|Year Ending June 30, 2020||(20,891,164)|
|Depreciation & Amortization - Net||6,701,386|
|Net Change in L.T. Debt||12,443,033|
|Net Change in Liabilities||(5,317,579)|
|Net Change in Assets||3,152,382|
|Net Change in Cash||1,966,910|