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March 2000
Minutes
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News & Views from Your Elected Representatives
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After
twenty years in the membership of Salem Electric, I have
achieved a milestone unique to consumer-owned electric
cooperatives.
I am now eligible and
have received my first patronage refund in the amount of
$14.28, which represents my share of Salem Electric’s net
savings after paying all expenses for the 1979 budget year.
Each year the board of
directors reviews the financial condition of Salem Electric
and determines repayment of past capital credit reserves.
Currently, capital
credits are being refunded (in seniority order) after being
held for approximately twenty years.
Over the years ending
with budget year 1999, our cooperative has authorized the
refund of $6,141,700 to our members.
As of December 1999 we
still have $840,500 payable in unclaimed credits for years up
to 1979.
If you move off the
system, you are still eligible for these credits. To insure
you receive future capital credit refunds, please notify Salem
Electric of any change in your mailing address.
Jeff Anderson
Director
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Minutes of the Meeting Held on:
January 25, 2000
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The
meeting was called to order by Nancy Towslee at 7 pm. All
board members were present.
The board spent time reviewing
in greater detail the year-end Financial Reports, Operations
Report and Annual Customer Contact Summary.
Financial
Report
Jack Belleque noted that a total of $6 million has
been authorized for payout to past members since the
revolvement program began. Of that, a total of $4.5 million
has been paid to date. It was noted that the names of those
eligible for annual payouts are published four times annually
in the Statesman Journal in March, April, May and June.
It was also highlighted
that the long-term debt has been reduced $500,000 from the
previous year. The debt relates to funds borrowed for the
purchase of the BPA substations and remodeling of the main
office building. The remodeling loan will be paid in full in
2000.
Operations
Report
Roger Kuhlman noted that new construction was down
in 1999 and will probably remain down through 2000.
There were only 46
sustained interruptions of service in 1999. The average
customer was out of service 1.82 minutes for internally-caused
interruptions and 7.46 minutes for externally-caused
interruptions. This is an extremely admirable record attesting
to the quality and reliability of our engineering and line
crew staff.
Customer
Contact Summary
This report was provided by Cecelia Darby who noted
that the high number of customer contacts this past year
related to the board’s decision to purchase wind power and
participation in the For the Sake of the Salmon (4SOS)
program.
General Manager Speckman
advised the board of the annual membership meeting to be held
at 7 pm on Tuesday, May 9, 2000, at the Salem Electric office.
Specific employees will be making presentations pertaining to
various aspects of Salem Electric operations.
Terry
Kelly was congratulated for being awarded the "Jack Kelly Community
Service Award" from the West Salem Business Association.
Meeting
adjourned at 7:50 pm.
Curt Culver
Secretary/Treasurer
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| Board Reports
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