Winter thus far, we have enjoyed beautiful weather. I fear just writing about it might jinx us. With that said, I’m anticipating sales to be down considerably for the month of December.
Your board approved the 2019 budget at the December board meeting. I alluded to this in a previous newsletter but a major improvement in technology will be purchasing electronic staking software referred to as Stakeout. Once it is implemented, this software will greatly reduce time spent on staking and mapping, along with the work order process. It will allow us to stake a new line without the need for multiple employees. It will also offer more accuracy in various areas including mapping and material inventory. Hunter Smith, staking foreman, is the employee who will ultimately be responsible for the success of this system. Hunter is certainly up to the challenge. Another feature within the budget is setting up a bar coding system for inventory to better track purchases, numbers and accounting to the various work orders.
Also approved in the budget is replacement of the small bucket truck #14 for the Eagle Butte area and the track Bobcat Skid Steer used out of the Timber Lake area. Both of these units see very heavy use during the course of the year and have become critical to the Operations Department.
Our capital credit policy and how it pertains to estates will be changing beginning on Jan. 1, 2019. In an effort of fairness for all members concerned, while considering the time value of money – if an estate wishes to retire early – the dollar amount will be discounted by 5 percent for every year of early retirement. At year 20, payout will begin at 100 percent. As is currently, the power supply portion of capital credits will be precluded from payout if Moreau-Grand has not received them yet. As an alternate to accepting the discounted early retirement, the estate may assign the capital credit account to another party so that general retirement will be made as paid to other members over the course of 25-plus years. Until next month…God Bless.