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Tombigbee Electric Power Association 2018 Annual Meeting and Director Election Results On Saturday, August 11, 2018 at 10:00 am, Tombigbee Electric Power Association (TEPA) held its 85th Annual Meeting, as required by the Association’s Bylaws. The purpose of the meeting is twofold: to nominate eligible Association members for the director election; and to update the membership for activities and financial matters for the prior fiscal year. Members are provided public notice by area newspapers, the Association’s website and by notice on facebook and tweeter encouraging them to attend the Annual Meeting held at the Association auditorium. The Auditing firm of Franks, Franks, Wilemon & Hagood, CPAs, was selected during the Annual Meeting to tally and present Director Election results. Results were reported and certified according to Association Bylaw requirements during a September 6, 2018 Association Executive Committee meeting. During this year’s election, twenty (20) members qualified and were listed on the ballot. From those twenty candidates nominated and confirmed at the annual meeting, five (5) were elected by members during the election process to serve on the Board. Association members elected to three-year terms as Directors are: from Itawamba County: Jim Gray (Fulton) and Andy Spradling (Mantachie); and from Lee County: Steve Holland (Plantersville), Don Knight (Saltillo) and Cecil Weeks (Auburn). These five members elected represent one-third of the total 15-member board and each director serves a 3-year term. In addition to ballot preparation details during the Annual Meeting, TEPA staff provided member attendees with Association operating details. For the fiscal year ending June 2018, TEPA serves 43,610 members and operates 4,176 miles of electric lines throughout the more than 1,000 square mile service area. TEPA serves predominately Itawamba and Lee Counties and portions of the six adjoining counties. In fiscal year 2018, TEPA’s customer base grew slightly less than 1 percent with most growth occurring in the residential and small business/commercial sectors. Total retail electric sales were $115.8 Million. Wholesale power cost paid to TVA was $89.8 Million. Ending June 2018, the total investment in system electric plant assets is $219.4 Million and the depreciated value of system assets is $118.2 Million. TEPA’s long term debt is $4.45 Million. TEPA staff reported to members that a 1.5% increase in retail revenue will begin October 2018. This is TEPA’s first retail rate increase to members since 2009. TEPA purchases all its electric power for resale to members from TVA. TVA regulates and approves TEPA retail rates and other service charges. Retail sales less wholesale power cost paid to TVA is utilized to meet system growth needs and expansion and maintenance costs. Wholesale power cost alone represents approximately 77.5 cents of every dollar paid to TEPA by its members. All work completed and system growth to accommodate member needs is paid for with this remaining 22.5 cent portion of revenue dollars. For more information, or to register questions or concerns or to learn more about your member electric cooperative, please visit the TEPA website at www.tepa1.com or write to P. O. Drawer 1789, Tupelo, MS, 38802. Additional regional electric supply and electric program information can be found at the TVA website, www.tva.gov.