Clearbrook Elevator Association Annual Meeting-March 8
Tue, 03/19/2019 - 2:47pm
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By Bonnie Kirchman
Leader-Record
The Clearbrook Elevator Association held its annual Meeting on Friday, March 8th, 2019. Patrons met at the Clearbrook Community Center, enjoying a noon meal followed by the business meeting.
President Scott Fawver opened the meeting at 1:00. Mark Strandberg, secretary/treasurer, read the minutes. Joel Piekarski, auditor for CarlsonSV of Fergus Falls, presented the financial statements. Sales dropped from $3,141,106 in 2017 to $2,465,559 in 2018. Lower grain prices accounted for part of the overall sales decrease. Cost of sales also decreased from 2017 to 2018, resulting in comparable gross margins of $479,650 for 2017 and $459,409 for 2018. Salaries and payroll expenses for 2018 were down while general expenses and administrative expenses were comparable to those of 2017. Joel also went over five-year historical information. While 2018 sales were down, operating expenses were the lowest in five years. The current ratio for 2018 is the second best in five years and ownership percentage is at the highest for the past five years.
Manager Les Westrum began his report, commenting on the good turnout at the meeting. He expressed sympathy and support for the family of Dave Engebretson, who had been a long-time board member. Les discussed issues facing the elevator including an accidental dumping of treated wheat seed. Costs for this were covered by insurance. He reminded farmers to clean trucks of oil and foreign materials, especially when dumping inside of bins. While profits were not big in 2018, debts were paid down and equipment was purchased without taking out additional loans. Looking ahead, a new grain bin will be needed. The elevator will also need a new building for grinding equipment as they look to expand feed mixing. Feed mixing will be a priority in the coming months. Regular hours will resume in April.
Ted Graham, representative from Purina spoke to the group. Purina is a part of the Land O’Lakes cooperative that began in the 1920’s. Today Land O’Lakes consists of three major parts-agronomy, dairy foods, and animal nutrition. Through these components, the cooperative provides products from “field to plate”. Ted discussed ways that technology has changed their work. For example, thirty percent of their employees work from home on any given day. He emphasized that good service is still provided to patrons and customers. Ted also expressed appreciation for the business from Clearbrook, adding that he enjoys seeing three generations of support for the cooperative in Clearbrook. He predicted a good outlook in the cow and calf industry. Ted closed with a reminder to the farmers to take the time to work safely and to be mindful of fatigue, especially in the busy season ahead.
President Scott Fawver continued the meeting with a call for old business. There was none to discuss. Scott thanked David Larson for filling in for Dave Engebretson’s position on the board. Nominations from the floor were called for election of one board member. A motion was made to cease nominations and unanimously elect David Larson to the board. This motion carried. Other board members are Greg Erickson, Richard Kroening, Mark Strandberg, and Scott Fawver. The annual meeting was then adjourned.