A combination of wet weather and farmers rushing to finish a delayed planting season resulted in fewer members in attendance at this year's annual meeting for Dakota Valley Electric Cooperative, which was held June 3 at Edgeley Public School.
Those in attendance enjoyed a complimentary barbeque beef meal, musical entertainment and a free children's fun night with a movie and treats.
Other activities included a technology display by Basin Electric Power Cooperative and a 4-H Project Expo featuring displays by LaMoure County 4-H members.
At the conclusion of the meeting there was a drawing for door prizes. The $1,000 grand prize was not awarded because the member whose name was drawn was not in attendance. Robert and Margaret Larson of Edgeley were winners of the $100 consolation prize.
Guest speaker for the event, Gregory McKee, director of the Quentin Burdick Center for Cooperatives in Fargo, discussed nationwide trends facing cooperative businesses. He encouraged all cooperatives and members to take seriously their responsibilities of educating the next generation and implementing succession planning to ensure the continuation of strong, responsive and vibrant cooperatives providing needed services in the future.
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In his report to the membership, Dakota Valley Electric Cooperative Board President Thomas Mund, Milnor, focused on challenges facing electric cooperatives in ensuring adequate power supply power and stable electric rates.
"In 2009, wholesale purchased power price in-creases required that we increase our electric rates by about 2 percent in order to meet financial and lender requirements," Mund said.
The challenges facing Dakota Valley also exist in the other parts of the cooperative's power network, he said. He explained Dakota Valley's generation and transmission providers, such as Basin Electric Power Cooperative and Central Power Electric Cooperative, face capacity problems caused by growth that often can only be remedied by adding new facilities.
"Upward pressure on wholesale and retail electric rates caused by proposed carbon dioxide reduction legislation may be even more significant," he said.
Mund said the board routinely examines the cooperative's performance in meeting financial goals, which include maintaining competitive and cost-based rates, regular retirement of capital credits, maintaining appropriate equity and providing resources for upkeep and replacement of power lines.
Mund said the cooperative's four-year electrical system improvement plan, approved in early 2009, allocates $12.8 million toward constructing line, improving services and replacing equipment.
"We will strive to balance these anticipated cost increases against your needs for both reliable and affordable power," he said.
Treasurer John Haus-child, Wahpeton, reviewed the cooperative's financial condition and reported that during 2009, DVEC had returned $1.4 million in capital credits to its members. The refunds included $1.3 million through the general retirement and $111,260 to estates and other retirements.
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Hauschild said 2009 electric power sales of $27.4 million with expenses totaling approximately $26.6 million.
Margins for the year totaled $3 million, including $830,846 from local electric operations, $294,385 interest income and subsidiary profits and just over $1.9 million in capital credit allocations (non-cash) from the cooperative's electric power suppliers.
Director elections were held for each of the cooperative's three director regions.
Elected were: West Region, District 3, Arden Fuher, Edgeley; Central Region, District 2, Kim Rasmussen, Havana; and East Region, District 3, Gerald Sundquist, Hankinson. All were incumbents and were unopposed in the election.
