2021 was a big year! We continued to be flexible and innovative with our approach to serving members and the community through the lingering pandemic but have embraced some new efficiencies and technology as a result. Thank you for being engaged and supportive throughout the year.
Our cooperative continues to operate seamlessly and maintain a very stable financial position, which is illustrated in the 2021 annual report (contained in the pages surrounding your magazine). Uncontrollable expenses are attributed to our power costs but we are diligent at managing controllable expenses. And as you can see by the annual report, we remain financially stable based on our equity ratio. Our cooperative is unique in that we have a higher percentage of commercial and industrial load compared to residential.
Strategic planning was a major project for us this year as we collaborated with employees, members, industry leaders, community leaders, educators, first responders, and others to hear feedback and gain insight as to the challenges facing our co-op and the communities we serve. The board shared dynamic discussion about our path forward through a two-day planning session and ultimately adopted a very strong, progressive strategic plan focusing on five key areas.
- Providing differentiated value for our members
- Internal and external system modernization
- Managing risk for long-term sustainability
- Board governance
We have a lot of work to do this year in developing projects to move these plans forward, but I know our team is strong and motivated. We all want the best for our members, our team, our community and our cooperative and by working together we are on a path to achieve great things.
I encourage you to participate and engage as a member of YOUR cooperative by voting in the upcoming election, engaging with us through various platforms and reaching out when you have questions or concerns. My team and I are available 24/7 and we look forward to hearing from you!