Appendix F: Carrying Cost of Investment
| Item No. | Description | Amount ($) | |
|---|---|---|---|
| 1 | Total Utility Plant | $423,862,414 | |
| Item No. | Description | Amount ($) | Percent of T.U.P. |
| 2 | Carrying Costs | ||
| 3 | Dist. Expense – Operations | $12,006,601 | 2.83% |
| 4 | Dist. Expense – Maintenance | $9,435,208 | 2.23% |
| 5 | Customer Accounts | $3,734,985 | 0.88% |
| 6 | Sales Expense | $1,717,584 | 0.41% |
| 7 | Admin. & General Expense | $9,807,914 | 2.31% |
| 8 | Depreciation Expense | $14,944,212 | 3.53% |
| 9 | Interest on Long-Term Debt | $6,134,799 | 1.45% |
| 10 | Operating Margin | $6,934,231 | 1.64% |
| 11 | Total – Annual Rate | 15.27% | |
| 12 | Monthly Rate | 1.30% | |
2025 NGEMC Annual Meeting Minutes
As printed in the July 2026 Georgia Magazine
Mr. Ted Clark, Chairman of the Cooperative, called the 2025 Annual Business Meeting of North Georgia Electric Membership Corporation to order. Mr. Clark welcomed all members and thanked those attending the community meeting. He later turned the meeting over to Henry Tharpe, Attorney for North Georgia EMC.
Mr. Tharpe read the proof of notice of the 2025 Annual Meeting of the Members. Mr. Tharpe stated that Georgia Magazine, which included the official notification of the 2025 Annual Meeting of the Members, had been sent to all members of record as of June 2, 2025, and magazines had been presented 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 2024 Annual Meeting minutes were printed in the July 2025 Georgia Magazine and members who register online or in person confirm and approve of the minutes.
Mr. Tharpe stated the next order of business would be the election of a director from District 2 and District 4. 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 were Mr. Jason Parker, District 2, and John Howard, District 4.
Mr. Tharpe informed the members that no candidates by petition were received. Therefore, Mr. Jason Parker, District 2, and John Howard, District 4, were duly elected. Mr. Tharpe turned the meeting over to Mrs. Kathryn West.
Mrs. West gave her President’s Remarks, and introduced a video that presented the Chairman’s Report, which included the accomplishments of the last 12 months and the Cooperative’s financial condition.
The CEO thanked the members for watching the 89th Annual Membership Meeting and expressed appreciation for the opportunity to serve NGEMC’s members. There being no further business, Mrs. West then declared the meeting adjourned.