Amicalola Electric Membership

“The cooperative has members as provided for in its bylaws which are included as a part of this return.”

“The cooperative has members who elect members of the governing body as provided for in its bylaws which are included as a part of this return.”

“Certain decisions of the governing body are subject to approval by members as provided for in its bylaws which are included as a part of this return.”

“Form 990 is reviewed by the board with all supporting documentation made available to them.”

“The cooperative regularly and consistently monitors and enforces compliance with their conflict of interest policy as provided for in its policy which is included as a part of this return.”

“Compensation for the ceo is reviewed and approved by the board as provided for in the cooperative's policy which is included as a part of this return.”

“Compensation for key employees is reviewed and approved by the board as provided for in the cooperative's policy which is included as a part of this return.”

“The cooperative makes its bylaws, conflict of interest policy, and financial statements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi, section c, line 18.”

“Donated capital 277,592 memberships 13,810 retired capital credits 172,253 retirement of patronage capital -2,601,411 asc 980 deferred revenue recognized 3,100,000 patronage capital credit 446,489 total 1,408,733”

“The electric utility industry has historically allowed utilities to either record unbilled revenue or disclose the unbilled amounts in their audited financial statements without recording. Until 2017, the corporation chose to report the unbilled revenue amount as a disclosure only. During 2017, the corporation began recording unbilled electric revenue due to management's belief that this provides a better reflection of the corporation's financial position and results of operations. In addition, technology now exists to obtain a more accurate determination of these amounts eliminating estimates related to usage that previously affected the calculation. This change in accounting principle resulted in a prior period adjustment of 5,786,763. Since a substantial portion of this accrual is attributable to prior years and the patronage for those years has already been assigned, accrued unbilled utility revenues as of december 31, 2016 (5,786,763) will remain a component of other equities until the corporation is liquidated or dissolved, at which time it will be allocated and assigned as patronage capital to the members that contributed the patronage.”