February Message from the Manager
The state of the cooperative
2020 was a unique year. We faced a global pandemic and economic difficulty amongst our membership in various industries.
2020 marked the 75th anniversary of the cooperative. Our plans for a big celebration with our members turned into a drive-in annual meeting in October broadcast over FM radio. It was a success!
Thanks to all of you who ventured to Columbus to attend the meeting. We believe it was our shortest, coldest annual meeting on record! We look forward to getting back to our traditional annual meetings where we can socialize with all of you.
The office staff is working to close out the 2020 fiscal year records in preparation for the year-end financial statements. They are organizing records and preparing reports needed for the annual independent financial audit scheduled for later this month.
We continue to work on our 2019-2022 construction work plan (CWP). In 2020, we completed the construction of a new substation in the Kenmare area and several system reliability projects across the system. Projects for 2021 will focus on system reliability.
Future planning is a fundamental piece to the success of your cooperative. An essential part of this planning is looking at the costs to provide electric service to our membership. This year, a team from the National Rural Utilities Cooperative Finance Corporation (CFC), one of the cooperative’s financial institutions, will perform an in-depth cost-of-service study. The board of directors will use this study to evaluate our current rate structure to ensure that fair and equitable rates exist for our members.
As always, know that we are working hard for you. Feel free to contact us with any questions or concerns you have about your cooperative. We look forward to serving you, our member-owners, in 2021.
Until next time,