March 3, 2013

Co-op Elevator of McClusky holds annual meeting

Co-op Elevator of McClusky holds annual meeting

Co-op Elevator of McClusky held its annual meeting on Tuesday, March 12, at the McClusky City Hall starting with a noon meal catered by The Union Grill serving about 65 people.
Board President Steve Haus-auer called the meeting to order. The elevator’s accountant, Nick Storhaug reviewed the compiled financial report highlighted by another profitable year and addressed questions from the patrons. Earnings for the years including 1958 to the present revealed that earnings have fluctuated over the years with crop volume and commodity prices. In 2012 earnings were $554,529.63.
Total 2012 assets are $10,905,478.54; current liabilities $7,356,675.71; long term liabilities $509,933.74.
Revenues for 2012 were $35,787,978.20; cost of sales was $34,571,567.96; gross profit was $1,216,410.24; other income $811,680.87; total gross profit was $2,028,091.11; total deductions $1,178,021.87; net savings before depreciation expense $850,069.24; depreciation expense $295,539.61; net income $554,529.63; total patronage return, $554,539.63.
Election for three expiring board members was held and all three; Kenny Lasher, Steven Hausauer and Bill Voegele were re-elected by unanimous ballots.
Brian Larson, Co-op manager, presented his report highlighting major additions and improvements completed in 2012.  Kendon Faul is assistant manager; Tom Houser is feed plant manager; Jim Crimmins is bulk fuel manager; Ben Wagner is bookkeeper; other employees are Andrew Majors, Tobey Kramer, Eric Crimmins, Don Ebach and Bob Parsons.


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