Happy New Year...
Here it is, the first article of the New Year. Those of you that I have not had the chance to visit with in the last month or so, “Happy New Year!” It is our hope that 2012 will be a better year than you have ever had. While I am at it, “Happy Valentine’s Day”, and do not forget that special person in your life.
Annual Meeting…
The annual membership meeting will be February 22, 2012 at the 4-H building in Wheatland. You will be voting for two director seats and taking any other action that might come up at the meeting. Yes, we will again have door prizes (must be present to win) and a great noon meal for all attendees. Each membership will also receive a $40 credit on a visit to have your blood drawn at the local outpatient facilities (more details to come). Please take the time to read more about the annual meeting in other parts of this newsletter and in the annual meeting booklet to be mailed in February. Make plans to participate in the annual meeting today.
You will also hear how your Association has done during the past year and we will have special speakers to update you on what is happening in the electrical world. Plan now to attend and take an interest in your Association.
Capital Credits...
The Board of Directors took action at their December meeting to hand out capital credit checks at the annual meeting. Wheatland REA capital credit checks for the years 1990, $76,064 and 1991, $97,744 for a total of $173,809 will be handed out on February 22, 2012. We will also be issuing checks for Tri-State capital credits earned in 1995 for $134,094. In other words we will be issuing checks for a little over $307,000 and will be available for pickup at the annual meeting. If for some reason you are unable to attend this year’s annual meeting the checks will be mailed after the annual meeting. If you were taking service in 1990, 1991 or 1995 and do not receive a check, please contact the office.
What are capital credits, you ask? Simply put, capital credits are what is left of our revenue after all the bills of running this Association are paid. As a nonprofit organization all margins are returned to the members of this Association in the form of capital credits. The capital credits are used to help build and maintain power lines and purchase equipment rather than borrowing the money from a bank. We are in essence borrowing the money from our members for the good of our members. When the financial condition of the Association is in a position that the Board of Directors feels is adequate for the day to day operations, they take action to refund capital credits.
Tri-State Board Meeting…
I had the opportunity to attend part of the January Tri-State G&T board meeting. During one of the reports where they were looking at long range power cost, my attention was caught by the rapid increasing costs. Yes, we will be seeing increases in the cost of our power that we purchase from Tri-State for the foreseeable future. Increasing cost in everything that they purchase is forecast along with increasing cost of regulations, both state and federal. The new air regulations just passed will increase the cost of producing power, as will other regulations pushed by the Environmental Protection Agency. Tri-State has also passed a new rate structure for the way that they will charge Wheatland REA for power starting in 2013. I will report more on this new rate structure in future articles.
If you have any comments or questions about this article, contact me and I will try to answer them.
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