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From the Boardroom - April 2018

As I write this newsletter article, the calendar says it is spring and we should soon be in the field. But, as I look out the window, it does not look like corn planting is less than a month away. The Board of Directors has had a busy and productive winter. 

We started in December with a one-day retreat where the Board of Directors, along with Rod, Anne and Jory met with Scott Hansen from White Commercial Corp. to discuss the grain markets going into 2018, as well as taking a look at our current grain policies and how we compare to the industry and our region. At that meeting, we also visited with a local banker about Risk and Credit Management for the upcoming crop year. 

Previously, we had decided to do an insurance review every third year, which includes putting our property and casualty insurance out for bids, and 2018 was the year for that. We had three companies actively bid for our business, and they were able to maintain the level of coverage that we have established necessary for your company. By comparing, we are able to maintain quality coverage at a competitive rate. We went over our policy in detail with a representative from the successful bidder to make sure that we maintain a level of coverage that we feel is necessary to protect your assets.

Congratulations to Jon Wolff for completing his Board of Directors Certification Training with the Iowa Institute of Cooperatives, this past January. Certification training consists of four education phases, which include cooperative accounting, governance, rules, regulations, current topics and how to be an effective Board Member for your local cooperative. We thank Jon for his active participation in serving on your Board of Directors.

One of the ongoing projects that the Board is focusing on is our equity and making sure that our records are in proper order for managing the company’s equity. Please read Pam’s article, review her list of past patrons, and let her know if you have any information on any of the people listed. Thank you in advance for your cooperation!

The entire Board of Directors has undergone several training sessions as a group this winter. Those include the U of M Cooperative Board /Manager Seminar in January, and the Minnesota Grain and Feed Association Annual Meetings. These training events help keep us abreast of the current issues that affect the cooperative world, as well as providing us with the proper training on how to deal with day to day issues that Boards face each month.

If you have any questions, please feel free to contact myself or any of the current Directors.

Have a safe spring season.

Les Sander