Clearbrook Elevator Association Annual Meeting

The Clearbrook Elevator held its 76th Annual Meeting on March 6,2015. The delicious lunch was prepared and served by Glen and Connie Nelson, as they have done for many years in the past.

 

The meeting began with the financial report, which was presented by Joel Piekarski of Carlson, Highland & Co. LLP.

Highlights of the balance sheets show current assets of $535,137, other assets of $112,832 and property and equipment of $$376,840 for a total  of $1,024.809 for 2014. 

 

Sales were $3,415,755 with cost of sales at $2,945,409 leaving the gross margin at $470,346.

Under the Statement of Operations, the total operating expenses include payroll, repairs and maintenance, utilities, advertising, taxes, insurance and administrative for a total of $477,757, which leaves a net operating loss at $7,411.

 

Statement of Patrons’ Equities show local patronage credits of $258,698, local patronage reserve of $13,478, CHS, Inc patronage credits of $36,674, CHS, Inc. patronage reserve of $947, Other comprehensive income of $1,364, Unallocated reserve of $419,372 for a total of $730,533.

 

Financial highlights for five years indicate a strong, solid balance sheet.

 

A representative of Purina, Katie Nelson, spoke about fetal programming.

 

Manager Les Westrum followed with his report, noting purchases of an auger, protein tester, and tractors. There are 25,000 bushels stored off site, indicating a future need of new bins.   Currently there are 45,000 bushels of wheat and 25,000 bushels of beans in storage. The elevator is now a dealer for grain bins, as well as parts for bins.  The next year will focus on efficiency and organics. April 16 is open house mineral day.

Devin Aakre spoke about farm insurance needs.

 

There were no new nominations for officers and directors.

 

Adjournment was followed by drawings for prizes.