IN THE NEWS
Genex Farm Systems Expands into Michigan Genex Farm Systems is the new authorized dealer of CST Storage products – Harvestore® and Slurrystore® equipment – within the state of Michigan. The Great Lakes Division of Genex Farm Systems, located in Lake Odessa, Mich., opened in May. Genex Farm Systems, though new to Michigan producers, is actually the oldest Harvestore dealer in the country. In addition to the new office in Lake Odessa, Genex Farm Systems serves agricultural producers from offices in Melrose, Minn., New Prague, Minn., and Menomonie, Wis. In addition to sales, service and installation of Harvestore and Slurrystore products and related equipment, the Great Lakes Division of Genex Farm Systems also represents FAN Separator, Jamesway, Valmetal and Big Ass Fans equipment lines. For additional information, call the Lake Odessa office toll free at 855-517-6281.
Genex Equity Redemption The Genex and CRI boards of directors have authorized two separate equity revolvements to the membership to take place this fall. One revolvement will be the member equity for 1986 and 1987. For active Genex members, the equity retirement will appear as a credit on your billing. There are no tax implications on this retirement; the equity redemptions have been from qualified issuances with taxes paid at the time of their allocation. There will also be a revolvement of 35 percent of the 2010 equity. The 2010 equity return will be paid in cash. Included in this equity check mailing will be a 1099-MISC Tax Form for your 2011 tax reporting. This is the official public notice of this equity retirement. Former members must notify Genex headquarters for redemption of their equity. The board reserves the right to suspend redemption if cash flow needs of the cooperative are impaired. If there are any questions, contact Genex Controller Diane Patza at 715-526-7520.
Dates for Delegate Meetings Romuald Named President Delegates and alternates are encouraged and expected of Accountants’ Group to attend the fall delegate meetings. Input gained from these meetings is important and highly valued by the board of directors and staff. Each meeting will begin at 10 a.m. and conclude by 2:30 p.m. More information will be mailed at a later date. The following are dates and locations for the meetings: Oct. 11 - Atlanta, Ga. Oct. 12 - Cleveland, Ohio Oct. 13 - Kansas City, Mo. Oct. 17 - Alexandria, Minn. Oct. 18 - Rochester, Minn.
Oct. 25 - Harrisburg, Pa. Oct. 26 - Syracuse, N.Y. Oct. 27 - Albany, N.Y. Oct. 28 - Las Vegas, Nev. Nov. 7. - Appleton, Wis.
The National Society of Accountants for Cooperatives has announced CRI’s Larry Romuald as President for 2011-2012. The National Society of Accountants for Cooperatives is comprised of professionals actively involved with the financial management and planning of cooperative business. Romuald serves as the Vice President of Finance for CRI. Since 1993, he has overseen all financial and human resources areas within the cooperative and its subsidiaries. In all, he has devoted 38 years to the finance segments of agricultural cooperatives.
©2011 CRI
HORIZONS
5