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4 Thursday, May 8, 1997 Pahrump Valley Gazette
Valley Electric Association Disburses $1.4 Million
Capital Credits To 1983-84 Members
by Andy Holtmann
The board of directors for the Valley Electric Associa-
tion recently approved the payment of capital credits to
those who were members and paid for electric service for
portions of 1983 and 1984,
Checks were mailed to these consumers at their last
known addresses that were on record at the VEA on April
21, 1997. A total of $1.4 million was disbursed to about
3500 people who were VEA members during that time
period.
Capital credits are portions of money that are left over in
a year after all of VEA's costs are met. The VEA is a
nonprofit organization that is basically owned by the cus-
tomers which it services.
Any margin of money that is left over in a given year is
returned to members from that year in the form of capital
credit checks.
The VEA does not return capital credits immediately to
its members. Currently, there is about a 15 year wait for pay
backs. During this wait, the VEA uses this money to build
power lines and other electrical apparatuses to service the
public. Some of the money also serves as a buffer that helps
absorb wholesale power rate increases. Without this buffer
UPTO
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CHROME
FROM T s39"
155/R12 ..... 21 .
175/70R13 .... 2S.OOea
185/70R13 .... 29.00ea
185/70R14 .... 31 .gCJea
195/70R14 .... 33.ggea
Non Big 0 brand.
P185/75R14... ZT.00u
P195/75R14... 29.00u
P205]75R14... 31.00ea
P205/75R15... 3S.OOez
P215/75R15.,. 37.00ea
Non Big 0 brand
for*l
PERFORMANCE!
P185/60f114 .43.99ea
P195160R14 .411.99ea
P195/60R15 .49.99ea
P205MR15 .51 .ggea
P215/60R15 .51LJea
Non Big 0 brand
rate increases would many times be passed on to the con-
sumer.
Customers are credited on a first in, first out basis,
meaning that those who were members of the co-op first, get
their credits first. So far, the VEA has credited its members
for the years 1965 through half of 1984 for years in which
margins were made.
.... We Are Aiming For Around 6.7% To Be Re-
turned To Our members," said Larry Ortman, Manager of
Office Services. "This total and when the payments are
issued are still the decision of the board of directors though."
The discretion of these
payments is left up to the
VEA's board of directors.
They base their decision o,"
MXV4
P235/75R15,..sg.99ea
30X9.50R15C..73.99ea
31X10.SOR15.. 79.99ea
LT235/75R15 . 69.99ea
LT235/85R16 . 85.99ea
Non Pg 0 ran
BF GOODRICH
TOURING T/A H4
*!0 OFF
Any 2 Wheel Brake Service
*20 OFF
I I Mostcas
I " I I Not vahO with Any 4 Wheel Brake Service
t Free unit is JtmCe Ihe iowe, cos! onI | I any othm oHe • wh,,,,a i
/ installation exlla Expires/30/7 j • Expires5/31/97 ,.,_hm ";"w',,Iw .... I M0St vehicles W@coupon NO;V3 ,'2, wi',",any
.m,.m m,Vn,,,4wnt L other olle, Expes 5/31/97
.... L ............ J ............ J
With Big O's Exclusive
Credit Card O.A.C.
PAHRUMP
1301 E, HIGHWAY 372
727-8400
LAKE MEAD & I)ECAllB
1965 N. DECATUR
647-6020
RANClIO & CRAIG
4520 N. RANCHO
656-7499
BOHAHZA & U
787 N. NELLIS
438-3282
P1851SOR14
Non Big
HENDER51)N
828 S. BOULDER HWY.
565-9393
IIEBEUOIWlEEH VALLEY
170 N. PECOS
263-9333
DESERT INN & JONES
3303 S. JONES
873-6410
FI.AMBGO & BIHUER HWY..
4728 E. FLAMINGO
451-2208
its review of the co-ops ove. I
all financial standing.
The VEA sends the
capital credit checLs to the
customers last known ad-
dress. Unclaimed capital
credits go to the state after a
period of five years. Senate
Bill 123 however could
change that. The bill, sup-
ported by State Senator Mike
McGinness (R-Fallon), the
VEA, and the Nevada Rural
Electric Association, would
have capital credits remain
with their cooperatives and
available indefinitely, re-
gardless of where the mem-
bers are located.
Any questions regard-
ing capital credits should be
referred to the VEA at the
Pahrump main office at 1-
702-727-5312, or toll free at
1-800-742-3330.
VEA
Scholarship
winners
Doug Monroe and Tyson
Ferro of Pahrump Valley
High School and Rick Jack-
son of Beatty High School
are this year's recipients of
Valley Electric Association's
$500 High School Senior
Scholarship awards. The
three winners were an-
nounced on, April 26 at the
electric cooperative's annual
full membership meeting
held at the Beatty Commu-
nity Center.
Each winner will receive
a $500 scholarship after suc-
cessfully completing their
first semester or quarter of
academic study at a post high
school educational nstitu-
tion and show that tlly plan
to start a second erm of
iqdgs in theprevus two
y..ears.of the program, high
school seniors who live iL
VEA's service area were eli-
gible to apply for the schol-
arship.
VIA's service area ex-
tends from and includes
Sandy Valley in the south, to
Fish Lake Valley in the north
and also includes the com-
munities of Pahrump,
Amargosa Valley and
Beatty.
Monroe plans to attend
DeVry Institute in Phoenix
this fall; Ferro will attend
the University of Nevada,
Las Vegas; and Jackson
plans to attend Cerro Coso
Community College in
Ridgecrest, Calif.
