By Mehgaan Jones
Central Georgia EMC recently presented three Clayton County organizations with funds totaling $6,000, to go toward community and economic development activities. The electric membership cooperative is headquartered in Jackson, Ga.
Central Georgia EMC (CGEMC) Board Member Warren Holder presented the Clayton County Chamber of Commerce, Clayton County Schools and the Industrial Development Authority of Clayton County, each with a check for $2,000, last Friday, according to a media advisory issued by Christy C. Chewning, Central Georgia EMC spokesperson. The checks were presented at the Clayton County Chamber of Commerce.
Charles White, Clayton County Public Schools spokesman, said that the $2,000 check will be added to Superintendent Edmond Heatley's scholarship funds. "The funds provide support to students interested in higher education," said White.
Central Georgia EMC will hand-deliver 22 checks this month totaling $120,310 to area chambers of commerce, school boards, and industrial development authorities, in eight counties, Chewning said in the statement.
She said the funds come from unclaimed capital credits that remain with the utility company after five years. "Unclaimed capital credits were once remitted to the Georgia Department of Revenue, under Georgia's Disposition of Unclaimed Property Act," Chewning explained. She said that unclaimed capital credits remaining after five years can now stay in the communities served by Central Georgia EMC, for the sole purpose of funding education, economic development, and 501(c)(3) charitable organizations.
Chewning explained that the capital credits are margins over and above the cost of providing service for members of Central Georgia for a specific year, after the company's financial obligations have been met. "The amount of unclaimed capital credits will fluctuate annually, depending on the amount of capital credits refunded to members, in a given year," she added.
According to the written statement, to declare an unclaimed capital credit, Central Georgia EMC must follow specific member notification requirements. "Central Georgia must post either on the company's web site or at the EMC headquarters, a list of members and addresses who have failed to claim capital credits," said Chewning.
The electric membership cooperative must advertise the location of the list, three to six months before the retirement of the fund, the statement said. The advertisement must be placed in the newspaper designated as the county's legal organ.
"Moreover, the list must contain notification that unclaimed funds will be donated to education, economic development, or charities," Chewning said.
President and CEO of the Clayton County Chamber of Commerce Yulonda Beauford said the chamber is thankful for the funds. "We will be using the funds for various programs and services to the community."
The Industrial Development Authority of Clayton County could not be reached for comment, on Wednesday.