Central GA EMC Gives to Henry County Schools
Submission Date: October 29, 2018
Release Date: For Immediate Release
Contact: J.D. Hardin, 770-957-6601 ext. 161, firstname.lastname@example.org
(Release # 0010-10-18)
Central Georgia EMC Gives to Henry County Schools
Local EMC continues trend of support for school system
HENRY COUNTY, GA – Henry County Schools is once again the beneficiary of community support from business community member Central Georgia EMC.
Warren Holder, board member for the local electric membership cooperative, presented the $24,170 check to Henry County Schools Superintendent Mary Elizabeth Davis at a recent meeting at the Henry County Chamber of Commerce. This is the largest amount given by the EMC to the school system.
According to Central Georgia EMC, the funds they distribute to school systems come from unclaimed capital credits that remain with the EMC after five years. Unclaimed capital credits were once remitted to the state of Georgia Department of Revenue, under Georgia’s Disposition of Unclaimed Property Act (DUPA). Unclaimed capital credits remaining after five years can now stay in the communities served by Central Georgia EMC for the sole purposes of funding education, economic development and 501 (c) (3) charitable organizations in the EMC service area.
Capital credits are margins over and above the cost of providing service for members of Central Georgia EMC for a specific year, after Central Georgia EMC’s financial obligations have been met. According to unique cooperative business principles, capital credits may be returned to each member on a pro-rata basis with a schedule determined by the respective EMC management and the board of directors. The amount of unclaimed capital credits will fluctuate annually, depending on the amount of capital credits refunded to members in a given year.
“Henry County Schools is fortunate to have a strong community partnership with Central Georgia EMC,” said Superintendent Davis. “Their support of our schools is well-documented, and we are able to positively impact the work in our classrooms with their generosity and commitment to education in our community.”
You can find out more about Henry County Schools at www.henry.k12.ga.us.
Photo: Superintendent Mary Elizabeth Davis (third from left) accepts a check from Central Georgia EMC Board Member Warren Holder (second from right). Also pictured (L-R) Brandon Stooksbury, Central Georgia EMC Key Accounts Representative; Leonard Sledge, Henry County Development Authority Executive Director; Superintendent Davis; David Gill, Henry County Chamber of Commerce President & CEO; Warren Holder; Christy Chewning, Central Georgia EMC Member Engagement Coordinator.