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Monthly Managers Column
March was a busy month for the office staff. A team of three auditors from Ketel Thorstenson accounting firm out of Rapid City completed the annual audit the week of March 19. In addition to the normal financial audit duties, a FEMA audit was also required due to the extent of FEMA projects completed in 2017 as a result of the Christmas 2016 storm. The board will receive the completed audit reports at the April board meeting. I’m pleased to report on another very clean audit, which comes as the result of diligent employees who take pride in their duties.
Your board also approved the new four-year Construction Work Plan for $10.9 million at the March meeting. This is a prerequisite for our next loan application to RUS (Rural Utilities Service). The plan is to then complete a $9 million loan application at the April meeting. Our current loan will expire in September of this year.
Congratulations are in order for two of our area youth – Elsie Du Bray from Timber Lake High School is the recipient of our annual Basin Electric $1,000 scholarship. Elsie has been accepted to the prestigious Stanford University this fall. Wignunka Little Sky from Takini High School will be attending the Washington, D.C., Youth Tour this summer on behalf of your co-op. We are encouraged to watch our youth take an interest and become involved in the co-op.
April 9 will be recognized as National Lineman Appreciation Day – check out our Facebook page. Several years ago, our national organization selected the second Monday in April of each year for this well-deserved honor. They sign up to serve the membership 24/7 and 365 – God Bless our linemen and keep them safe.
For the second month, I’m sharing the notice of a couple policy changes beginning on June 1, 2018.
Policy 10-10 – A service deposit in the amount of $125 shall be paid to the cooperative with each application for service beginning on June 1, 2018. Note: The current deposit has been $75 since 1995, thus hasn’t increased in 23 years. The updated deposit of $125 will better match the average monthly residential bill.
Policy 10-12 – Line Extensions — Seasonal (including well service) Accounts will see $7 per foot line extension beginning on June 1, 2018. Note: This is an increase from the current $5.50/foot. The rationale for this increase is to better match the actual costs to construct line to these minimum revenue generating services. When construction costs are covered by the requesting member, this eliminates the need for MGEC to borrow money which would need to be paid back by all members.
Until next month…praying for warm spring rain.