SOUTH CENTRAL POWER COMPANY LOCAL PAGES ANNUAL MEETING
Five Trustees Re-Elected as South Central Conducts 82nd Annual Meeting Results of the Board of Trustees election were announced at South Central Power’s 2nd annual meeting held Aug. 16 on the campus of Ohio University – Lancaster. Reelected to three-year terms were Mike Hummel of Canal Winchester, Reed Bailey of Lancaster, James Evans of Hillsboro, Kenneth Davis of Leesburg, and Michael Vinka of Cadiz. Voting was conducted online, by U.S. mail, and in person at South Central Power offices. In his report to the members, Treasurer James Evans said the co-op had a strong year in 2017 and as a result, was able to refund nearly $9 million in capital credits to members and former members of the cooperative. As a not-for-profit electric cooperative, South Central Power regularly returns funds that are collected over and above the cost of doing business to its members.
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OHIO COOPERATIVE LIVING • OCTOBER AUGUST 2018 2018
“Your cooperative returned back to the membership nearly $9 million of capital credit payments during the last year, and with member equity, or ownership, at 55 percent of total assets, your cooperative is in very good financial condition,” Evans said. President and CEO Rick Lemonds announced a new initiative, called “Connecting Our Cooperative,” a multiyear technology project that will increase reliability and improve service to South Central Power members. “We’re upgrading to new state-of-the-art technology that will help us serve you better,” Lemonds said. “We are investing in the communities where we live and work, and these changes will position your cooperative as a leader in our industry for the years ahead.” Continued on Page 21