2011-11-15T13:47:44-06:00 2011-06-30 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2010-07-01 580370240 NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION NORT 7062599441 PO BOX 1407 DALTON GA 307221407 RONALD O HUTCHINS 7062599441 2011-11-14 JERRY SMITH 4237567771 2011-11-14 2010 2016-02-24 21:20:13Z RONALD O HUTCHINS PO BOX 1407 DALTON GA 307221407 243031552 0 X WWW.NGEMC.COM X 1936 GA TO PROMOTE AND ENCOURAGE THE USE OF ELECTRIC ENERGY AND MAKE IT AVAILABLE TO CONSUMERS AT THE LOWEST POSSIBLE COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. 7 7 202 0 0 0 0 1825669 210709166 235196609 647852 486045 7037025 5523229 218394043 243031552 0 0 0 0 11153875 12991422 0 0 0 202253174 225595744 213407049 238587166 4986994 4444386 275681742 279991082 142745944 142934198 132935798 137056884 TO PROMOTE AND ENCOURAGE THE USE OF ELECTRIC ENERGY AND MAKE IT AVAILABLE TO CONSUMERS AT THE LOWEST POSSIBLE COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. 0 0 238587166 TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS. 238587166 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 62 0 202 1 0 0 0 0 0 0 0 242600030 431522 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X RONALD O HUTCHINS 7062599441 1850 CLEVELAND ROAD DALTON GA 30722 GERALD G LOWERY 12.00 X 9250 0 0 E DEAN SMITH JR 10.00 X 7500 0 0 TED CLARK 6.00 X 5450 0 0 MARVIN L HOLSONBACK 4.00 X 4200 0 0 EDWARD WORLEY 5.00 X 5700 0 0 JOHN HOWARD 8.00 X 5450 0 0 KATHY WELCH 4.00 X 5475 0 0 GENE FRANKLIN 50.00 X 164113 0 0 RONALD O HUTCHINS 60.00 X 339960 0 82575 KATHRYN D WEST 60.00 X 149296 0 52094 MARK SMITH 40.00 X 98938 0 41466 KIM GAMEL 40.00 X 100038 0 47544 895370 0 223679 4 0 1 0 SUMTER UTILITIES INC 1151 N PIKE W SUMTER SC 29151 CONSTRUCTION 2023454 DIVERSIFIED SERVICES INC 2910 HIGHWAY 31 N HARTSELLE AL 35640 CONSTRUCTION 1129747 MARABLE-PIRKLE SERVICE LLC PO BOX 3178 CLEVELAND TN 37320 CONSTRUCTION 993215 WA KENDALL & CO INC PO BOX 831 LAWRENCEVILLE GA 30046 RIGHT OF WAY SERVICE 982766 TRU CHECK INC 817 W COLUMBIA ST 2 SOMERSET KY 42501 METER READING 780547 5 1825669 1825669 RESIDENTIAL SALES 221000 145586072 145586072 LARGE COMMERCIAL 221000 71157376 71157376 SMALL COMMERCIAL 221000 15879633 15879633 OUTDOOR LIGHTING 221000 3518431 3518431 UNBILLED ELECTRIC SALE 221000 -944903 -944903 235196609 486045 486045 3980015 3980015 3980015 3980015 FEMA GRANT RECLASSIFIC 221000 -1825669 -1825669 3368883 3368883 1543214 243031552 241205883 0 0 895370 11994891 101161 218110 48740 869835 5169028 11373730 244249 COST OF POWER 194712653 DISTRIBUTION - OPERATIO 8118565 DISTRIBUTION - MAINTENA 5702331 CONSUMER ACCOUNTS 5594814 EXPENSES RECLASSIFIED T -8412937 1956626 238587166 1979863 1969938 712080 774525 21191659 21102076 5838287 6887622 1234043 1354440 1410324 1517388 323253042 82594760 237858062 240658282 5455847 5719527 1577 7284 275681742 279991082 34411126 33985911 99305560 99305967 9029258 9642320 142745944 142934198 X 811150 809350 0 0 132124648 136247534 132935798 137056884 275681742 279991082 X 4444386 -323300 X X 0 1 1 X 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2272834 2272834 7516695 2233587 5283108 310434253 80361173 230073080 3029260 3029260 240658282 CUSTOMER DEPOSITS 4188071 POST RETIREMENT BENEFITS 5454249 9642320 243031552 238587166 4444386 -323300 -323300 4121086 243031552 0 243031552 0 243031552 238587166 0 238587166 0 238587166 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: NOTE 17 UNCERTAIN TAX POSITIONS EFFECTIVE JULY 1, 2009, NGEMC IMPLEMENTED THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF ASC TOPIC 740, INCOME TAXES (PREVIOUSLY FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AN INTERPRETATION OF FASB STATEMENT NO. 109). THE ADOPTION OF FASB ASC 740 DID NOT HAVE A MATERIAL IMPACT ON NGEMCS FINANCIAL STATEMENTS. NGEMC HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS. NGEMCS EVALUATION WAS PERFORMED FOR TAX YEARS ENDED JUNE 30, 2008 THROUGH JUNE 30, 2011, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS JUNE 30, 2011. PART XI, LINE 8 - OTHER ADJUSTMENTS: MEMBERSHIP DECREASE DURING YEAR -1,800. OTHER COMPREHENSIVE LOSS - APBO -321,500. INVESTMENTS - LAND, BUILDINGS AND EQUIPMENT - PART VI - OTHER: OTHER ASSETS IS MADE UP OF CONSTRUCTION AND RETIREMENT WORK IN PROGRESS. X 0 0 0 GENE FRANKLIN 164113 0 0 0 0 0 0 0 0 0 164113 0 0 0 RONALD O HUTCHINS 339960 0 0 0 0 0 65905 0 16670 0 422535 0 0 0 KATHRYN D WEST 149296 0 0 0 0 0 35101 0 16993 0 201390 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 NGEMC HAS 98,494 CUSTOMERS TO WHICH IT PROVIDES POWER. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERS OF NGEMC THROUGH A DEMOCRATIC PROCESS. FORM 990, PART VI, SECTION B, LINE 11 NGEMC'S BOARD OF DIRECTORS WILL REVIEW THE 990 WITH THE CPA FIRM WHICH PREPARED IT BEFORE SUBMITTING IT TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO DISCLOSE ANUALLY ANYTHING THAT IS CONSIDERED TO BE A CONFLICT OF INTEREST AS DEFINED BY NGEMC'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS YEARLY. THE BOARD ALSO DETERMINES THE COMPENSATION FOR MANAGEMENT ON A YEARLY BASIS. FORM 990, PART VI, SECTION C, LINE 19 NGEMC WILL PROVIDE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. FEMA GRANT RECLASSIFICATION FORM 990, PG. 9, LINE 11A, MISCELLANEOUS REVENUE DURING NGEMC'S FISCAL YEAR ENDED JUNE 30, 2011, THE CORPORATION INCURRED SUBSTANTIAL TORNADO DAMAGE. THE CORPORATION RECEIVED A FEMA DISASTER ASSISTANCE GRANT TO SUBSIDIZE THEIR REPAIR COSTS. THIS GRANT IS GIVEN ON A REIMBURSEMENT BASIS AND FEMA HAS NOT FINISHED THEIR AUDIT TO FINALIZE THE ACTUAL AMOUNT OF THE GRANT. NGEMC HAS BOOKED AN ESTIMATE OF $1,825,669 AS A RECEIVABLE. DUE TO RURAL UTILITY SERVICE REPORTING REQUIREMENTS FOR GRANTS, THE $1,825,669 IS SEEN AS A REIMBURSEMENT FOR EXPENSES AND THE GRANT INCOME IS REPORTED AS AN OFFSETTING AMOUNT TO EXPENSES INCURRED RELATING TO THE DISASTER. THE SURPLUS OF GRANT INCOME OVER EXPENSES INCURRED IS REPORTED IN CONSTRUCTION WIP AS AN OFFSETTING AMOUNT TO CAPITAL EXPENDITURES INCURRED AS A RESULT OF THE TORNADO. THEREFORE, FOR 990 REPORTING PURPOSES, WE HAVE INCLUDED $1,825,669 AS GOVERNMENT GRANT INCOME AND -$1,825,669 AS MISCELLANEOUS INCOME. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: MEMBERSHIP DECREASE DURING YEAR -1,800. OTHER COMPREHENSIVE LOSS - APBO -321,500. TOTAL TO FORM 990, PART XI, LINE 5: -323,300. AUDIT OVERSIGHT PROCESS REMAINS UNCHANGED FROM THE PRIOR YEAR.