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The ElectraLite
DECEMBER 2012 CVEC Capital Credit Allocations for 2011
Canadian Valley Electric Cooperative capital credit assignments are based on the cooperative’s revenues in excess of its expenses. These numbers are recorded as capital furnished by the members and are thus referred to as capital credits. For the year 2011 this amounted to $823,178.63. This value is not represented as cash, but as the cooperative’s equity interest in its distribution system. Canadian Valley also receives assignments from its generation and transmission cooperative, Western Farmers Electric Cooperative, from which it purchases its power supply. For 2011, this assignment amounted to $1,098,517.64. This money is also assigned as capital cred- its to the members of CVEC. This article will serve as your notice regarding the assignment of the capital credits for 2011. This method of notice is being used to avoid the expense of preparing, handling and mailing individual notices. Specific information about your account is available at the coopera- tive at your request. The 2011 capital credits are assigned to the consumers as a book figure on the records of the Cooperative. The capital credits are
payable to the patrons only upon dissolution of the cooperative after all indebtedness of the cooperative shall have been paid. Any remaining balance shall then be retired on a prorated basis at that time, provided that the Board of Trustees may make a partial retirement prior to such event upon the determination that the financial condition of the cooperative will not be impaired thereby. The capital credits are not cash and cannot be applied as payments on your electric bills. Here’s how to determine you capital credits: 1. Add up your electric bills for 2011. (Omit taxes and any other non-electricity usage charges.) 2. Locate your rate code on a recent electric bill. 3. Match the rate code in one of the classifications below. 4. Take the classification’s decimal factor times the total of your 2011 bills. 5. This amount is your 2011 capital credit. 6. Do this for each electric account you have. Example: 2011 Total Billing - $1,000.00 Rate Code is 2
$1,000.00 x .017360117= 2011 CVEC capital credit $17.36 $1,000.00 x .016930026= 2011 WFEC capital credit $16.93
Classification Residential
Small Commercial Irrigation
Large Power
Rate Code 1 – 4
10 – 14 16 – 18 24, 26
CVEC Factor 0.017360117 0.022320907 0.022320907 0.02016285
WFEC Factor 0.016930026 0.014645167 0.014645167 0.015639133
Operation Round Up builds better communities
Through a giving program known as Operation Round Up, CVEC members have donated more than $1,250,000 mil- lion to help families cope with hardships and support nonprofi t organizations working to bold better commuitites - and they’ve done it with pennies, nickels and dimes.
Operation Round Up is a community outreach program that is funded by CVEC members who “round-up” their electric bills each month. Added up, the small change that results from “rounding up” monthly electric bills - fi fty cents on average - has made a big impact throughout the co-op’s ten-county ser- vice area.
Over the years, grants have provided vital equipment to volunteer fi re depart- ments and senior centers, and money has been used to fund drug education and awareness and literacy programs for youth. Disabled persons have gotten safety and mobility equipment, families
have been clothed and fed, and individuals have gotten dentures and eyeglasses- all thanks to the generosity of CVEC members through Operation Round Up. The CVEC Foundation Board, a group of community volunteers who come from various parts of CVEC’s service territory, is entrusted to administer the contributions. All share a deep commitment to both their com- munities and their role as a guard- ians of the members’ charitable gifts. Their thoughtful deliberation and responsible grant-making practices are ultimately linked to the success of the Operation Round Up program. This year, the Board of Directors for the CVEC Foundation approved almost $2,500 to pay for a set of cribbing for the Tecumseh Fire Department. Ac- cording to the fi re department, cribbing is one of the most valuable pieces of
The hidden account number hidden in The ElectraLite is worth $25. The account number must be your own and found within the contents of the paper. Your number must be reported by the 15th of each month to our office by phone, mail or in person.
CVEC gives to Techumseh Fire Department through its Operation Round Up program. From left to right: Steven Scarberry, Jimmy Stokes, CVEC Board Member Frank Oliver, Chad Larman, Fire Chief Aaron Williams, and Shane Overby. Photo by Bob Weaver
equipment is one that protects fi refi ght- ers and patients. The funds will be used to replace the substandard, aged, wood cribbing with a full set of plastic crib- bing for rescue operations.
Application forms to request funding are available on CVEC’s website, www.
canadianvalley.org, in CVEC’s offi ce or by mail. Call 405-273-4680 for more information or to request an application.
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