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.
Meeting Minutes and 2019-2020 Financials
Minutes of the 2019 Annual Meeting of North Georgia E.M.C.
Held August 1, 2019; 1:15 p.m. at Dalton Convention Center.
Mr. Ted Clark, Vice Chairman of the Cooperative, called the 2019 Annual Meeting of North Georgia Electric Membership Corporation to order. Mr. Clark stated a quorum was present and the Annual Members’ meeting could be held according to the bylaws.
Mr. Clark welcomed everyone to the meeting and reflected on the recent passing of Mr. Gerald Lowery. He then asked the Rev. Will Linginfelter, of Zion Hill Baptist Church, to give the invocation. Mr. Clark then asked the audience to remain standing following the invocation for the presentation of colors presented by American Legion Post 167, the Pledge of Allegiance conducted by local law enforcement, and the national anthem performed by the Earl Brackin Band.
Mr. Clark then welcomed Kathryn West, President and CEO of the Cooperative. Mrs. West introduced the Board of Directors, guests and ORU trustees.
Mrs. West asked Mr. Henry Tharpe, Attorney for North Georgia EMC, to read the proof of notice of the 2019 Annual Meeting of the Members. Mr. Tharpe stated that Georgia Magazine, which included the official notification of the 2019 Annual Meeting of the Members, had been sent to all members of record as of May 30, 2019, and magazines had been presented this day to comply with the Bylaws stating that notification must be deposited with the United States Postal Service. Mr. Tharpe then declared the Annual Meeting of the Members lawfully convened.
Mr. Tharpe then informed the members that the 2018 Annual Meeting minutes were printed in the July 2019 Georgia Magazine and in the Annual Report contained in their registration material. Mr. Tharpe asked if any corrections or additions should be made to the minutes. Hearing none, the 2018 minutes stood approved as presented.
Mr. Tharpe stated the next order of business would be the election of Directors from Murray and Walker counties. Mr. Tharpe reviewed the procedures to be followed in the election of Directors, stating there are two ways to nominate a candidate: (1) nominations by petition signed by fifty or more members of the county to be elected; and (2) nominations by Nominating Committee.
The Nominating Committee candidates included Mrs. Kathy Welch from Murray County and Mr. John Howard from Walker County.
Mr. Tharpe informed the members that no candidate by petition was received. Therefore, Mrs. Kathy Welch from Murray County and Mr. John Howard from Walker County were recommended as Directors. Mr. Tharpe asked for a motion from the floor that these nominees be approved as Directors to serve for a term of three years. A motion was made, seconded and passed with no dissenting votes. Mr. Tharpe then declared Mrs. Kathy Welch from Murray County and Mr. John Howard from Walker County to be duly elected directors.
Mr. Tharpe asked if there was any other new business to come before the meeting. There being none, Mr. Tharpe turned the meeting over to Mrs.Kathryn West.
Mrs. West gave her President’s Report which recognized North Georgia EMC retirees and employees for their service and expressed the community is truly the heartbeat of our purpose. Mrs. West then introduced a video that presented the Chairman’s Report, which included the accomplishments of the last 12 months and the Cooperative’s financial condition. Mrs. West then introduced North Georgia EMC Engineers Kyle Barfield and Allyn Walls who spoke about substations and distribution lines.
The CEO thanked the members for attending the 83rd Annual Membership Meeting and expressed appreciation to the Board of Directors and employees of North Georgia EMC for their commitment to each member of the cooperative.
Mrs. West gave her closing remarks and thanked everyone for the opportunity given to her and the Board to serve NGEMC’s members. There being no further business, Mrs. West then declared the meeting adjourned and proceeded with the drawing for prizes.
|Property, Plant and Equipment||460,426,071|
|Less Accumulated Depreciation||(129,045,686)|
|Total Fixed Assets||331,380,385|
|Accounts Receivable - Net||11,301,544|
|Materials & Supplies||2,824,112|
|Other Current Assets||8,594,802|
|Total Current Assets||28,332,130|
|Investments in Associated Organizations||4,103,558|
|Energy Right Program Loans||4,647,367|
|Prepaid Expense & Clearing Accts||824,988|
|Other Deferred Debits||2,047,665|
|Total Other Assets||12,111,756|
LIABILITIES AND NET WORTH
|Other Current Liabilities||11,000,941|
|Total Current Liabilities||31,394,984|
|Energy Right Program Payable||4,799,816|
|Long-Term Debt & Post Retire Benefits||134,258,370|
|Total Other Liabilities||139,058,186|
|Beginning of Year||194,799,731|
|Current Net Income||5,732,240|
|Total Earnings Reinvested in System Assets||200,531,971|
|Total Liabilities and Net Worth||371,824,271|
|Sales of Electric Energy||230,644,556|
|Total Operating Revenue||238,297,269|
|Customer Accounting & Collecting||5,573,862|
|Administration & General||8,563,567|
|Depreciation & Amortization||16,493,260|
|Total Operating Expenses||228,764,491|
|Misc. Income Deduction||(55,058)|
|Other Income - Interest||1,782,382|
|Other Expense - Interest||(5,527,862)|
|Net Income from Operations||5,732,240|
|Investment in Electric Plant|
|Year Ending June 30, 2020||(19,027,411)|
|Depreciation & Amortization - Net||6,743,600|
|Net Change in L.T. Debt||12,668,564|
|Net Change in Liabilities||(7,410,930)|
|Net Change in Assets||1,438,060|
|Net Change in Cash||144,123|