Manager's Report
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written 12/30/11
I’m writing this report on the last working day of 2011. Oh how the days turn into months and the months turn into years. 2012 has a nice ring to it. It will be the year of our first grandchild.
In fact later today, I will be heading home, packing a bag and driving to Sioux Falls where mother-to-be is being transported. Baby Cowan actually wants to meet the family a little earlier; and we absolutely can’t wait!
News of Interest:
Moreau-Grand board recently hired new legal counsel. John Burke from the law firm of Thomas Braun Bernard & Burke, LLP from Rapid City was officially given the title of Moreau-Grand’s attorney on December 16th. John being raised in Isabel and graduating from Isabel High School is very familiar with Moreau-Grand’s service area. We welcome John to the co-op family and look forward to the expertise he will bring to the table.
The board approved amendment #6 to the Revenue Deferral plan at the December board meeting, which will transfer $150,000 of revenue from 2011 to year 2013. This action requires our banker (Rural Utility Service) approval and is intended to absorb a portion of the expected increase to our wholesale power costs going forward. As discussed with the membership numerous times over the years, the revenue deferral plan has played a significant role in keeping rate increases to a minimum. An unexpected bill credit from Basin Electric in December of 2011 – drove this decision. The bill credit resulted from margins realized from the Dakota Gas Company, a subsidiary of Basin Electric. Prior to this action, the current deferral plan was due to terminate the end of 2012.
The 2012 budget was approved by the board at the December meeting. This now sets the stage for all the work projects lined up in 2012. As always, the employees are prepared to accomplish the next challenge that comes our way.
Until next month… keep enjoying the mild winter
