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MANAGER’S DESK
Jerald Kemmerer CEO/GM
Your cooperative just completed its fiscal year. The auditors have completed their duties of confirming what our accurate accounting department already knew, and that is we finished with our best year locally on the books. This year will mark the 96th annual meeting of your cooperative. Notices have already gone out with a copy of last year’s annual meeting notes. The meeting is set for Tuesday May 17th at the Knights of Columbus in Dodge City starting with registration from 5:30 to 6:30 pm. Dinner will start at 6:30 followed by the annual meeting. I hope you will have an opportunity to attend. We continue to pay out 50% in cash while also paying out deferred equity
SECOND QUARTER 2011
that you have accumulated over the years that was earned by just doing business with your cooperative. We have gained on deferred equity in the last four years and will be paid up within 12 years. The payout on patronage and deferred equity is at the highest level we can pass back and still stay within the guidelines set by our financial lender. Thanks to the board in allowing us to pay out members 75 years and older that has no farming interests anymore. Since we started that program the last couple of years, we have paid out an additional $200,000 to about 160 people. A lot of those members are on fixed income and the additional disbursement was welcomed.
We moved a record of 9 trains of grain prior to fall harvest to make room, and two of them loaded with 48 hours. This could not have been accomplished without the additional storage added and commitment of dedicated employees. For the year, it was the cooperative’s third largest take of grain compared to the big yields of 1998 and 1999. It was a good year for our other Pride Ag Resources business units also. The agronomy department had a good year with increases in fertilizer volume and in acres of application. Feed, Farm Supply, and Fuel also had a decent year to help produce a solid bottom line. Thanks to all the dedicated employees
Inside This Issue 2 Safety 3 Ace Hardware - Grain 4 Feed 5 Agronomy - AV Energy 6 Seed 7 IT Department 7 Board of Directors