The total amount of patronage taxable income allocated for the calendar year of 2023 is $6,987,444. The allocation factor is 0.0805547041 for residential accounts, 0.0951201481 for general service/commercial accounts, and 0.0548115062 for large power accounts. To determine your amount of capital credit allocation, multiply the allocation factor by the total amount of your electric bill for 2023. The amount of your allocation is available from the Cooperative upon request.
This notice is for your information only. This amount is not available as either cash or credit on your electric bill. Refund of this amount in full or in part at any time in the future shall be based on the decision of the Board of Trustees that the financial condition of the Cooperative shall not be impaired by making such refund. This amount is not required to be reported by you for income tax purposes until redeemed for cash and then only if you receive an income tax deduction for the payment made to the cooperative during 2023. Accordingly, it is unlikely that residential patrons will be required to report such allocations even when paid to them in cash or credited to their electric bill. If you cease to be a member, please keep us advised of your current address. Copies of the Cooperative Bylaws are available upon request. If you have any questions concerning this allocation, please call Amanda Sevedge or Kyle Stuart at (580) 332-3031.