Carroll Electric sets its annual meeting for May 23
BERRYVILLE -- Carroll Electric Cooperative Corp. has announced its annual meeting will be held Thursday, May 23, with registration starting at 9:30 a.m., and the meeting at 10 a.m., at the Carroll County Fairgrounds.
Members should have received notice, which was mailed out May 9. Enclosed is a ballot for board election.
This year's one candidate, nominated by Carroll Electric's Nominating Committee, is incumbent Winfred Prier, from District 9, running unopposed.
Members who wish to elect this candidate must return their ballots in the official pre-paid envelope provided to be received by Carroll Electric by Monday, May 20, at noon.
The election results will be reported at the meeting.
The meeting announcement also states the only issue before members this year is the election of a director.
"The Cooperative has not received any member-initiated ballot proposals and there are no matters referred by the board of directors to be voted on by members," the mailout states.
To have initiated a proposal, a member would have had to submit it on a form provided by Carroll Electric at its Berryville office, would have required the exact action desired by the proponents of the proposal signed by at least 10 percent of the corporation's 70,000+ members and would have been due 90 days before the annual meeting. Carroll Electric would then verify the authenticity of the signatures.
Also enclosed with the meeting notice was the 2012 annual report, showing revenues and expenses, the minutes of last year's meeting and a survey asking for responses to Carroll Electric's performance in areas of low cost, reliability, disaster response, energy efficiency, public safety and environmental.
Operating revenue was down from 2011, although still higher than in 2010. Last year Carroll Electric took in $146,040,609, $1.6 million less than in 2011. Operating expenses were also slightly less. Those were $146,525,979, $255,000 less than in 2011, but more than the operating revenue. The net operating loss of $485,370 was absorbed by capital credit dollars and other margins of $7,585,388 and non-operating revenues of $770,244, leaving the corporation with a positive balance of $7,870,262. Total assets are $472,214,252.
Carroll Electric serves seven counties in Arkansas: Carroll, Benton, Boone, Madison, Newton, Pope and Washington and four in Missouri: Barry, McDonald, Stone and Taney.
Statistics for revenues and expenses show the highest income from farm and residential electricity sales of around $103 million and commercial at $40 million. Highest expenses are cost of power at $90 million, followed by operation and maintenance at $22 million.
Carroll Electric reported a total of 88,669 average number of meters billed each month, with 9.52 average number of meters per mile, and 9,317 average miles of power line in operation.
Average monthly kwH usage per farm/residential member is 1,173, with the average bill of all members at $134 per month and the average charge at .09 cents per kwH.
In his message included in the mailing, CEO Rob Boaz outlined the issue of electricity generation sources. He stated that if the corporation were to rely on any one source of electricity generation and build a single power plant based on it ("pick any fuel source you like -- natural gas, nuclear, coal, wind, hydroelectric, solar, or biomass"), it would cost more than all past investments made into its power lines, substations, equipment and facilities and existing power plants made over the last 75 years.
"Fortunately, Carroll Electric and the other 16 electric distribution cooperatives in Arkansas have not put all of your eggs into one basket," he wrote, adding that through the Arkansas Electric Cooperative Corporation, "we have a good mix of power generation resources available to keep your power reliable and affordable."
He urged members to work with policy makers to determine the future mix of generation sources.