Gully Tri-Coop Association held their Annual Meeting March 11

The Gully Tri-Coop Association Annual Meeting was well attended by their patrons, Saturday March 11th at the Gully Hall. President Dean Hanson presided over the meeting. During the registration and handing out the patronage checks, each attendee received a $10 gift certificate to be used for merchandise at the Gully Tri-Coop Assoc. Tim Johnson and Steve Rasmussen played some lively music for us during this time.

President Dean Hanson turned it over to our CPA Carol Boeahland to read our Audit. Sales for 2016 were $13,375,900 Cost of Sales $11,004,865 Gross Margin of $2,371,035. Total Expenses $2,361,221 leaving a Local Savings $9,814 Add Patronage Received $260,728 for a Net Savings of $270,542. Reviewing our Balance Sheet Total Current Assets of $5,724,801, Property, Plant and Equipment at cost $7,578,056 Less Accumulated Depreciation $4,913,581 Book Value $2,664,475 plus Investment in other Cooperatives $1,183,814 for Total Assets of $9,573,090. Total Current Liabilities $3,944,421 Long-Term Debt $468,750 Deferred Tax Liability $18,000 Total Liabilities $4,431,171. Total Patrons’ Equities of $5,141,919 for a Total of Liabilities and Patrons’ Equities of $9,573,090.

General Manager Russell Crawford presented his report for 2016 Coops business. Russ reviewed the capital improvements that we have been working on; such as the Grain Handling equipment, our fuel pumps will be seeing another round of upgrades, to stay in compliance with card safety.

Russ discussed some of the causes for the lower margins that are felt all over the country. The North Star board did declare that they would pay out a portion of 2015 and 2016 profits to be received in March 2017. We could not count this as income as we did not have it yet.

Office Manager Adrienne Hanson talked about the Patron Distribution this year of $187,539, we paid out 35% or $65,193 in Cash Patronage. For those that are 67 and older, we also wrote checks for stock retirements amounting to $52,166 and we paid out $6,113. The stock retirements are divided up over 8 years. If you are 67 or older be sure to sign up for yours.

Station Manager Ryan Rude announced the Lube and Oil Filter Sale going on now. Be sure to come in and take advantage of Spring Oil & Filter Sale. More Farmers are signing up for the Cenex Warranty Program. If you have questions please stop by and talk with me.

Hardware/LumberYard Manager Rick Bjerklie stated we have started to offer complete calf hutches for sale. Be sure to give us a chance to give you a bid on any and all your projects you have coming up. We have a wide choice of Tillage for any and all your repairs.

Lloyd Godtland, Agronomy Manager discussed the last year’s growing season and how that affected what were the needs for the farmers. Lloyd introduced Patrick Bukowski as our new Agronomist. Lloyd wanted to encourage all farmers to come in and go over what their plans are for another great and successful growing season.

Our delicious scalloped potatoes and ham dinner was prepared by the Nazareth Ladies Aid. Potatoes and Wild Rice were donated by Peatland Reds and Gourmet House. Entertainment was provided by Tim Johnson and Steve Rasmussen.

Our Grand Prize of a 4-burner Gas Grill was won by Beverly Anderson. Other $50 and or $20 Gift Certificates and Hats and Jackets prizes were won by: Lucas Bjerklie, Gary Hartel, Shirley Anderson, Forrest Mostrom, Jane Kriedeman, David Anderson, Dale Bjerklie, Joe Amundson, Vernon Voeltz, Cathy Bergerson, Sharol Johnson, Bloyd Ness, Lloyd Sweno, Calvin Marquis, Nancy Lee, Lawrence Vettleson, Arlen Wold, Katie Arnold, David Arveson, Ray Sundrud, Jeff Matson, Tim Johnson, Linda Hanson, Ed Halvorson, Marvel Flateland, Helen Sordahl, Steve Rasmussen, Duane Rouland, Howard Hanson, Dale Bjerklie, David Olson, Leroy Sundquist, Lloyd Sweno, Sandie Husby.

Submitted by 

Adrienne Hanson