2016-11-14T09:31:02-06:00 2015-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2015-01-01 580198155 COBB ELECTRIC MEMBERSHIP CORP COBB 7704292100 PO BOX 369 MARIETTA GA 300610369 WILLIE T NELSON PRESIDENT & CEO 6783553005 2016-11-09 true WILLIAM R ROUNTREE P01231836 4787466277 2016-11-14 2015 2017-02-10 21:41:12Z ATTN ROBERT STEELE WILLIE T NELSON 1000 EMC PARKWAY MARIETTA GA 30060 412980142 false X HTTPS://WWW.COBBEMC.COM X 1938 GA COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. 9 9 492 17767 16767 0 422363713 411120211 1683831 1560428 465828 299503 424513372 412980142 0 0 1725095 2173376 0 0 416437726 381951713 418162821 384125089 6350551 28855053 871014666 875165959 492443608 579146249 378571058 296019710 X COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. false false COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. false false false false false false false false false true false true false true false false false false false false false false false false false false false false true false false false false false false false false false false false true true true false true 155 0 true 492 true true true false false false false 399799104 20162546 false X 9 9 false false true false true true true true true false false true true true true true true true true false GA X ROBERT D STEELE 7704292100 1000 EMC PARKWAY MARIETTA GA 30060 BRYAN BOYD CHAIRMAN 25.00 X X 70770 0 0 WILLIAM C SHARP III VICE CHAIRMA 15.00 X X 49199 0 0 DAVID MCCLELLAN SECRETARY/TR 15.00 X X 34186 0 0 KELLY P BODNER DIRECTOR 15.00 X 37686 0 0 ERIC BROADWELL DIRECTOR 15.00 X 47186 0 0 EDWARD CROWELL DIRECTOR 15.00 X 59670 0 0 CHARLES M SWANSON DIRECTOR 15.00 X 39186 0 0 DAVID V TENNANT DIRECTOR 15.00 X 50758 0 0 RUDY R UNDERWOOD DIRECTOR 15.00 X 38098 0 0 WILLIE T NELSON PRESIDENT & 58.00 2.00 X 530271 0 1216366 DAVID B JOHNSON COO 58.00 2.00 X 374154 0 140422 ROBERT D STEELE CFO 58.00 2.00 X 365583 0 124474 JAMEY HULSEY SR VP-ELEC O 50.00 X 250385 0 99133 KEVAN ESPY VP-MKT/CORP 50.00 X 213358 0 70562 TIM SOSEBEE VP-BUSINESS 50.00 X 202662 0 86357 2363152 1737314 108 false true false ERNST YOUNG US LLP 200 PLAZA DRIVE SECAUCUS NJ 07094 IT CONSULTANT 2108797 CORUS360 130 TECHNOLOGY PKWY SOUTH NORCROSS GA 30092 IT CONSULTANT 387833 MARK RITE UTILITY SERVICES 308 BREEZE CT CANTON GA 30014 UTILITY LOCATE 311321 NEXGEN UTILITY SOLUTIONS LLC 4080 MGINNIS FERRY RD SUITE 904 ALPHARETTA GA 30005 PWR CONSULTANT 237265 CONVERGENT IDEAS 626 YORKSHIRE RD NE ATLANTA GA 30306 ERP CONSULTING 229767 12 ELECTRIC REVENUE 221000 399799104 399799104 PATRONAGE CAPITAL 221000 8981598 8981598 POLE/TOWER RENTAL INCOME 2339509 2339509 411120211 1560428 1560428 281736 17767 281736 17767 299503 17767 281736 412980142 408780702 17767 4181673 2173376 23942821 33046849 PURCHASED POWER 251699107 ADMINISTRATIVE & GENERAL 24680653 DISTRIBUTION MAINTENANCE 19658779 CONSUMER ACCOUNTS 17862033 11061471 384125089 0 0 0 3190210 5578361 1296277 1659261 32745283 29496487 4570903 4570903 1963246 2297367 5566089 2562708 868452791 275656606 589350923 592796185 186977284 193845114 8082500 7446500 37271951 34913073 871014666 875165959 42922572 36943715 425121852 407611901 21500000 24399184 113090633 492443608 579146249 X 545130 521485 378025928 295498225 378571058 296019710 871014666 875165959 X 28855053 -104286138 -7120263 X false true X true false 10087825 10087825 858364966 275656606 582708360 592796185 INVESTMENTS IN ASSOCIATED ORGS 158298462 C INVESTMENTS IN CTC'S 32485968 C CFC MEMBER CAPITAL SECURITIES 2000000 C U.S. CORPORATE BONDS 1060684 C 193845114 ACCRUED PENSION COSTS 97922427 CONSUMER DEPOSITS 12844653 GAIN ON DEBT EXTINGUISHMENT 2293663 OTHER DEFERRED CREDITS 29890 VOLUNTARY EARLY RETIREMENT LIABILITY 113090633 SCHEDULE D, PAGE 4, PART XIII AUDITED AND REVIEWED FINANCIAL STATEMENTS: COBB EMC'S FISCAL YEAR IS APRIL 30TH. COBB EMC WAS INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS AT APRIL 30, 2016 AND 2015. IN ADDITION, COBB EMC'S FINANCIAL STATEMENTS ARE REVIEWED, AS PART OF CONSOLIDATED FINANCIAL STATEMENTS, BY AN INDEPENDENT ACCOUNTANT AT THE END OF EACH FISCAL QUARTER. THE INTERIM QUARTERLY REVIEW REPORTS ARE MADE AVAILABLE TO ALL MEMBER-OWNERS ON THE CORPORATION'S WEBSITE. THE AFOREMENTIONED SERVICES ARE OVERSEEN BY THE CORPORATION'S AUDIT COMMITTEE. X true true X X X false true false WILLIE T NELSON PRESIDENT & CEO 515459 14812 1200000 16366 1746637 DAVID B JOHNSON COO 357032 17122 115821 24601 514576 ROBERT D STEELE CFO 350669 14914 99873 24601 490057 JAMEY HULSEY SR VP-ELEC OPS 236698 13687 74533 24600 349518 KEVAN ESPY VP-MKT/CORP COMM 197330 16028 62137 8425 283920 TIM SOSEBEE VP-BUSINESS OPS 193747 8915 61008 25349 289019 SCHEDULE J, PAGE 1, PART I, LINE 1A SOCIAL CLUB DUES PAID FOR PERSONS LISTED IN PART VII, SECTION A: MARIETTA COUNTRY CLUB: (1) WILLIE T. NELSON (PRESIDENT & CEO) - 4,543 GEORGIAN CLUB: (1) WILLIE T. NELSON (PRESIDENT & CEO) - 94 (2) ROBERT D. STEELE (CFO) - 1,128 (3) KEVAN ESPY (VP-MKT/CORP COMM) - 1,128 SCHEDULE J, PAGE 1, PART I, LINE 4 WILLIE T. NELSON 0 1,200,000 0 DAVID B. JOHNSON 0 32,376 0 ROBERT D. STEELE 0 16,428 0 SCHEDULE J, PART III EFFECTIVE MAY 1, 2014, COBB EMC ADOPTED A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). THE SERP IS A NONQUALIFIED DEFERRED COMPENSATION PLAN THAT BENEFITS CERTAIN DESIGNATED COBB EMC EMPLOYEES WHO ARE WITHIN A SELECT GROUP OF KEY MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES. THE PURPOSE OF THE SERP IS TO RETAIN AND REWARD LONG SERVICE PERSONNEL, ATTRACT AND RETAIN MANAGEMENT EMPLOYEES AND TO RECTIFY THE EFFECT OF LIMITATIONS IMPOSED BY IRC SECTIONS 415 AND 401(A)(17). THE SERP CONTAINS CERTAIN VESTING PROVISIONS WHICH PARTICIPATING EMPLOYEES MUST MEET IN ORDER TO RECEIVE THE BENEFITS PROVIDED UNDER THE SERP. THE NONQUALIFIED AMOUNTS LISTED ABOVE WERE THE AMOUNTS ACCRUED UNDER THE PLAN IN 2015. THERE WERE NO DISTRIBUTIONS TO ANY PLAN PARTICIPANTS IN 2015. FORM 990 - ORGANIZATION'S MISSION COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. FORM 990 THE CORPORATION'S RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION (18CFR.PART 101). THOSE PRACTICES UTILIZE ALLOCATION OF CERTAIN EXPENSES BASED ON LABOR CHARGES OR OTHER ALLOCATION BASES. AS A RESULT, IT WOULD REQUIRE SIGNIFICANT EFFORT TO BREAK OUT EXPENSES IN THE FUNCTIONAL CATEGORIES PROVIDED FOR ON THE STATEMENT OF FUNCTIONAL EXPENSES. MANAGEMENT HAS OPTED TO CLASSIFY ITS EXPENSES ON THE STATEMENT OF FUNCTIONAL EXPENSES IN THE SAME MANNER IT REPORTS ITS FINANCIAL RESULTS TO LENDERS AND ITS MEMBER-OWNERS. FORM 990, PAGE 6, PART VI, LINE 4 THE CORPORATION'S MEMBERS APPROVED FOUR BYLAW AMENDMENTS AT THE SEPTEMBER 19, 2015 ANNUAL MEETING. A COPY OF THE REVISED BYLAWS IS ATTACHED TO THIS FORM. FORM 990, PAGE 6, PART VI, LINE 6 THE CORPORATION HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7A THE CORPORATION'S MEMBERS DEMOCRATICALLY ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN THE CORPORATION'S BYLAWS WHICH ARE INCLUDED AS PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN THE CORPORATION'S BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY THE FULL BOARD OF DIRECTORS PRIOR TO SUBMITTAL. FORM 990, PAGE 6, PART VI, LINE 12C THE CORPORATION REGULARY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE FOLLOWING POLICIES, WHIC ARE INCLUDED AS PART OF THIS RETURN: POLICY 602 - CONFLICT OF INTEREST POLICY 901 - EMPLOYEE CODE OF CONDUCT POLICY 911 - EMPLOYEES' OUTSIDE ACTIVITIES FORM 990, PAGE 6, PART VI, LINE 15A CEO COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS BASED ON THE CRITERIA OUTLINED IN BOARD POLICY 903, WHICH IS INCLUDED AS PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 15B KEY EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED AS PROVIDED FOR IN BOARD POLICY 908, A COPY OF WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 19 THE CORPORATION MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI SECTION C LINE 18. FORM 990, PART XI IN PERFORMING THE VALUATION OF COBB EMC'S DEFINED BENEFIT PENSION PLAN LIABILITY FOR THE AUDIT YEAR ENDED APRIL 30, 2015, COBB EMC'S THIRD- PARTY ACTUARIAL FIRM DISCOVERED ERRORS IN THE METHODOLOGY THAT THEY HAD USED IN PRIOR YEAR CALCULATIONS, AS WELL AS THE OMISSION OF CERTAIN PLAN PROVISIONS. THE CUMULATIVE EFFECT OF THE PRIOR PERIOD ADJUSTMENT WAS A REDUCTION IN EQUITY OF 104,286,138. FORM 990, PART XI, LINE 9 WHOLLY-OWNED SUBSIDIARY EARNINGS 13,405,122 CHANGE IN DONATED CAPITAL 36,810 CHANGE IN MEMBERSHIP FEES -23,645 CAPITAL CREDIT RETIREMENTS -4,974,789 OTHER COMPRENSIVE LOSS -15,563,761 TOTAL -7,120,263 GAS SOUTH LLC PO BOX 4298 ATLANTA GA 30302 203608242 NAT GAS MA GA N/A C CORP 13412656 93000000 1.00000 true COBB ENERGY MANAGEMENT CORPORATION 1000 EMC PARKWAY MARIETTA GA 30060 582345061 HOLDING CO GA N/A C CORP -7534 38000 1.00000 true false false false false false true false false false false false false false false false false true false false GAS SOUTH LLC F 15764000 COST GAS SOUTH LLC Q 5099824 COST SCHEDULE R RELATED ORGANIZATIONS: COBB ENERGY MANAGEMENT CORPORATION (COBB ENERGY) WAS INCORPORATED IN THE STATE OF GEORGIA ON SEPTEMBER 3, 1997 TO PROVIDE VARIOUS SERVICES TO COBB ELECTRIC MEMBERSHIP CORPORATION (COBB EMC), ITS SUBSIDIARIES AND OTHER THIRD PARTIES. AS OF DECEMBER 31, 2015 COBB ENERGY MANAGEMENT CORPORATION HAS NO OPERATING ACTIVITIES. GAS SOUTH, LLC (GAS SOUTH) IS A CERTIFIED NATURAL GAS MARKETER IN THE STATE OF GEORGIA. AS SUCH, IT IS ALLOWED TO COMPETE TO SERVE CUSTOMERS WHO TAKE SERVICE ON ATLANTA GAS LIGHT'S (AGL) NATURAL GAS DISTRIBUTION PIPELINES WITHIN THE STATE OF GEORGIA. GAS SOUTH PURCHASES NATURAL GAS FROM WHOLESALE SUPPLIERS FOR DELIVERY TO THE CITYGATE WHERE AGL ASSUMES RESPONSIBILITY AND LIABILITY ASSOCIATED WITH THE DELIVERY OF NATURAL GAS TO GAS SOUTH'S CONSUMERS. AS OF DECEMBER 31, 2015, COBB EMC DIRECTORS BRYAN BOYD, ED CROWELL AND WILLIAM C. SHARP, III WERE ON THE GAS SOUTH MANAGEMENT COMMITTEE. IN ADDITION, THE FOLLOWING MEMBERS OF COBB EMC MANAGEMENT WERE ON THE GAS SOUTH MANAGEMENT COMMITTEE: WILLIE T. NELSON (CHAIR/COBB EMC- CEO), ROBERT D. STEELE (COBB EMC-CFO) AND DAVID JOHNSON (COBB EMC-COO).