GREENCREEK Idaho County Light and Power Cooperative finishes up a good year for revenue and operations, according to reports presented at its annual membership meeting last Thursday, Nov. 3.
Total net value for the member-owned cooperative and its subsidiary, Idaho County Propane, has gone up almost $500,000 to just more than $17.1 million from the previous year, reported Director Cliff Tacke, secretary/treasurer. Members’ equity has grown to more than $10.7 million.
“We continue to look at our longterm debt to make sure that our interest rates are as low as possible, and presently, our equity is above 62 percent,” Tacke said. “Your cooperative is financially stable, and we are always looking to make it stronger and better for the membership.”
Around 280 people attended last week’s 78th annual meeting, held at the Greencreek Community Hall.
ICLP 78th annual meeting, Nov. 3: door prizes
$78 Gift Certificate donated by ICL&P - AMELIA ALSUP
$78 Gift Certificate donated by ICL&P – JAYLENE M LIMON
$50 gift certificate donated by Northwest Public Power Association- VERA SCHUMACHER
Alarm Clock with charging station donated by General Pacific. ELAINE SCHUMACHER
Die-Cast Digger Derrick Truck – donated by Altec Industries – SALLY NUXOLL
Silverstone Cookie Sheet, Cake Pan, Skillet - Donated by ICL&P – MELVA MADDALENA
Ruralite Cookbook – Donated by Ruralite Magazine – DONNA NUXOLL
Covered Casserole Dish - Donated by Idaho County Light & Power – TOM REED
$50 Cabela’s Gift Card – donated by Bell Lumber and Pole – RANDALL MCGARVEY
Light Bulb Assortment – Donated by ICL&P – LARRY SCHLEIPER
$50.00 Gift Card – donated by National Rural Utilities CFC – TOM NUTTMAN
Cordless Drill – Donated by HDR Engineering – DAVID WAGNER
Hamilton Beach Electric Kettle donated by General Pacific – JACK RAY
Ruralite Cookbook – Donated by Ruralite Magazine – DAVID J. ROGERS
Covered Casserole Dish - Donated by Idaho County Light & Power – WINIFRED JOHNSTON
$50 gift certificate donated by Northwest Public Power Association – MELVIN TEATS
Surge Protector – donated by General Pacific, Inc. – JACK UPTMOR
$75 Amazon Gift Card – Donated by Ruralite Magazine – SARA SCHROEDER
$100 Cash – Donated by McFarland Cascade – ARLENE BAERLOCKER
Energizer LED Night Light – donated by General Pacific, Inc. – VINCE WASIA
GRAND PRIZE: Gas Grill donated by Propane Equipment & Supply – JERRY WREN
GRAND PRIZE: $500 Power Bill Credit donated by ICL&P – TOM TERHAAR
Tacke reported operating revenues were down from the previous year, and within that the cost of power and propane was down significantly due to, relatively, decreased product cost and a 1.9 percent decrease in kilowatt hours sold. Sales of electricity provided around 70 percent of the more than $7.57 million in combined operating revenues, of which propane sales made up approximately 29 percent.
Electric cost of power and electric operations accounted for about 45 percent of $7.34 million combined operating expenses, he said, with the cost of propane and propane operations providing about 23 percent.
Total margins, Tacke said, were $235,830. The board approved a $52,414.29 capital credit to fully pay out through 1981, and as well $20,490.36 in estate retirements were retired.
“Your board of directors has had a busy year at our cooperative,” said President Ernie Robinson, who elaborated on the new faces hired on this year. This includes Max Beach as the cooperative’s new general manager, replacing Jake Eimers who retired this year after 39 years; and new CFP Christon Medley, replacing Pat Bird who also retired this year.
“Your board of directors is very confident that you have a great team in place to take your cooperative to the next level,” Robinson said, commenting on not only the new hires but on the abilities and experience of existing ICLP staff. “Each individual at your cooperative has unique skills and abilities that make them a true asset to your electric cooperative. But what makes things even better is that they are great people, which is most important.”