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As a
non-profit cooperative, PREMA allocates our annual operating
margins, or profits, to members receiving service during the
year. These margins (revenue in excess of expenses) are based
on your patronage and are called capital credits. They are used
by PREMA for operating funds and paid back to the members as the
financial conditions of the cooperative will permit and bylaw
provisions are met.
Members are
notified of the balance of their capital credits each spring
after the annual audit by an allocation statement. Your capital
credit balance does not represent cash, but rather equity in our
cooperative and cannot used as payment towards your bill.
Each September, if the financial
conditions and bylaw provisions are met, PREMA issues checks in
a general retirement equal to 1/25th of the total
Patronage Capital account to those who were on the system for
the years being paid.
Should you
ever move from PREMA’s territory, please keep us informed of
your current mailing address as this will assure you of
receiving your capital credit payment. As always, please feel
free to contact us with any questions.
If you have any questions,
please contact your
customer accountant. |
