McNair, McLemore, Middlebrooks & Company, of Macon, Georgia, audited the Consolidated Financial Statements as of December 31, 2023 and 2022. The auditors have issued an unqualified opinion on
those statements. The complete Independent Auditor’s Report is available for inspection at the cooperative’s headquarters office in
Hillsborough, N.C.
The Consolidated Balance Sheets and Consolidated Statements of Operations contained in this report are derived from the audited financial statements and reflect a continued strong financial position.
Until retired as capital credits, our 2023 total margins of $5,001,911 will be used to upgrade and expand Piedmont Electric’s system to
provide you, our members, with optimum service.
Capital credits reflect each member’s ownership in Piedmont Electric. Any margins or revenues related to the sale of electric service remaining after all expenses have been paid are allocated to the co-op members in proportion to their total bills. The allocation factor, which determines your share of the co-op’s margin for 2023, is 6.63%.
Click the image below for a closer look.
