Three incumbent directors of Dakota Valley Electric Cooperative were reelected at the co-op's annual meeting on June 9 in the Edgeley High School gymnasium.
After the meeting's opening ceremonies, DVEC Secretary Connie Bitz was appointed to conduct the election to fill three open director positions. As there were no other candidates for these positions, the incumbent directors were reelected to three-year terms. They are Arden Fuher, Edgeley - West Region, District 3; Kim Rasmussen, Havana - Central Region, District 2, and Dave Paulson, Hankinson - East Region, District 3.
In his address to the membership, Fuher, who is also DVEC board president, thanked the membership for its understanding and support during the pandemic restrictions of the past year and pledged the board’s continued focus on supplying reliable, reasonably priced electricity.
General Manager Mark Kinzler discussed 2021 operations, which included capital credit retirements of more than $1.59 million and the investment of $1.54 million to convert an additional 25.5 miles of aging overhead power lines to heavier underground cable.
Treasurer Dave Paulson reviewed the cooperative’s financial reports and reported the cooperative had assets of $148,670,723 at year-end, with long-term debt with USDA-Rural Utilities Service and other organizations totaling $78,350,513.
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Paulson reported electric revenues of $55,396,722 from 6,779 services. After expenses of $54,306,172, the cooperative posted 2021 operating margins (profits) of $1,090,551.
Central Power Electric Cooperative Chief Financial Officer Mick Kossan, Minot, reviewed recent projects and investments that Central has completed to facilitate the delivery of wholesale power in Dakota Valley’s service area.
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