Clearbrook Elevator meeting held

The Clearbrook Elevator Association annual meeting was held at the banquet room at the Clearbrook Community Center. A noon lunch was served by Yvonne Hetland for those in attendance with the meeting starting at 1:00 p.m.

Joel Piekarski, from Carlson, Highland & Company LLP from Fergus Falls presented the financial report. Highlights for 2015 balance sheet report showed $542,411 for total current assets compared to $535,137 in 2014. Current assets include cash and cash equivalent, securities, inventories and prepaid expense. Total other assets were $117,597 including investments in cooperatives for 2015 and $112,832 for 2014. Property and equipment for 2015 was $439,569 and for 2014 was $376,840.

Total assets for the elevator association in 2015 was $1,099,577 compared to $1,024,809 for 2014.

Sales were $2,931,885 with cost of sales at $2,447,669 for the year for a gross margin of $484,225. Last year sales were $3,415,755 with cost of sales $2,945,429 for a gross margin of $470,346 for 2014. Sales were down this past year as the price of grain was lower.

Under the statement of operations the total operating expenses including payroll, utilities, administrative, property taxes, insurance, repairs and maintenance was a net operating profit of $2,046 compared to a loss in 2014 of $7,411.

Total patrons’ equities had $730,533 for 2014 and for 2015 up to $758,9114.

It was a good year with money being made and a new 39,000 bushel grain bin built. They also remodeled the leg system which is used for grain unloading at the facility. They purchased a fork lift and a tractor to be used. On the north side of the facilities is a cold storage area and shop which is under construction. The cement was poured last fall with work being done now.

Scott Fawver was selected as the president for the coming year. He stated that it was a fairly quick meeting with not many questions being asked after the financial report. Dave Engebretson was re-elected as a director to the board. Scott Anderson was selected as vice-president and Mike Nordlund the secretary.

The association is in the process of purchasing the old creamery building in Clearbrook as they are in need of more storage. They will also be able to have their meetings in the old office as that part is heated. They are running out of room at the main plant.

The 77th annual meeting concluded without a special speaker this year.