Manager Connection: Director Elections & Annual Report
General Manager Syd Briggs
Steele-Waseca Cooperative Electric is inviting member-owners and their guests to the co-op’s 89th annual meeting Tuesday, June 3, with the doors opening at 9 a.m., and the meeting starting promptly at 10:30 a.m.
The purpose of the annual meeting is to provide information and report on last year’s activities, and to find out the three directors elected for a three-year term.
This year’s election is by mail-in ballot only. Members would have received their ballots during the last week in April and need to have that ballot received in the post office box of Survey & Ballot Systems by 10 a.m., Friday, May 30, to be counted.
Steele-Waseca is providing the co-op’s audited financials in this edition of Sparks, as we do each year, and need to address these reports along with approving last year’s minutes.
There isn’t any preregistration or call in before the meeting. Steele-Waseca will again be providing registration cards in the mail that are bar coded specifically for each member.
Please bring these cards with you to be scanned at registration. You should be receiving these registration cards in the mail approximately 10 days prior to the meeting. Do not mail these in; just bring them with you to the meeting on Tuesday, June 3.
At the annual meeting, Steele-Waseca will be collecting non-perishable food items and donations for a local food shelf. For those wishing to donate, they will receive (1) free LED lightbulb in appreciation of their donation.
Steele-Waseca’s 2024 Youth Tour Delegate Langston Richter will be introduced as he shares his experiences last year in Washington, D.C.
Also returning this year is the great meal served by Hy-Vee and the always popular Dairy Queen Dilly® Bars.
Financially, Steele-Waseca had a good year. Our average number of meters grew from 11,902 in 2023 to 12,001 in 2024, as we experienced a slight decrease in kilowatt-hour (kWh) sales of 1.9%.
Our operating expenses can vary greatly from year to year due to storm activity and different expense cycles in our long-range planning. This year’s operating expenses increased only 2.7% .
Equity increased $1.3 million, and long-term debt decreased $2.3 million.
In addition to the primary purpose of an annual meeting, we will have an opportunity to introduce all employees and directors to the membership.
For many of you, it will be another chance to reminisce with the people you have been doing business with for many years.
There are a lot of changes happening in the electric industry and I look forward to providing a brief update along with how the future of Steele-Waseca looks.
Each member who is in attendance to present their pre-mailed registration card, or register, will receive Steele-Waseca promotional products, the $30 Power Perks to be used at local businesses, and the $50 Energy Star® gift certificate.
Personally, I’m looking forward to seeing each of you again. If you have questions about our financials, the election process, or any business at all, please feel free to contact me.
Appreciation
#swceAPPRECIATION
