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CEC Annual Membership Meeting

 

 

Official Notice

Location - Callaway Electric Cooperative Office

1313 Cooperative Drive | Fulton, MO

 

Registration  

10:30 a.m. - 12:15 p.m.

A green registration card which included your name and information was mailed with the Official Notice of Annual Meeting on or around January 17. Bring it to the meeting to simplify the registration process. If you don't have the card, still plan to come! We can look up your account at the registration desk.

Lunch  

11 a.m.-12:15 p.m.

Members and their families can enjoy lunch served by Lee's Famous Recipe Chicken

Business Meeting  

12:30 p.m.

Plan to stay for the business meeting and director election. Hear reports from the manager and officers of the cooperative. At the conclusion of the meeting, there will be a drawing to award certificates for free electricity.

 

For a full description of the meeting, Official Notice, financials, etc. see our Official Notice.

 

A Word to our Member/Owners

Please accept our invitation to attend the 84th Annual Meeting of Callaway Electric Cooperative. The meeting is open for cooperative members and will be held Saturday, Feb. 1, at the cooperative’s headquarters.  

Registration will begin at 10:30 a.m., lunch will be served from 11 a.m. to 12:15 p.m., and the business meeting will convene at 12:30 p.m. Before the official start of the meeting, there will be an opportunity for you to visit with the cooperative’s board of directors and employees. We will have information available about energy efficiency, electric vehicles and Callabyte. Again this year, we will have the popular virtual tour of Associated Electric’s Thomas Hill Energy Center. Plus, we will be offering free blood pressure screenings and hearing tests. 

The business session will include voting to approve of the 2019 annual meeting minutes and the 2018 audited financials for Callaway Electric Cooperative and our subsidiaries.  The minutes and a condensed 2018 consolidated audit report are included in this annual meeting notice.  As part of your cooperative’s locally owned and democratically controlled business structure, members will elect three directors, each for a three-year term. The cooperative’s members who have been nominated to serve on the board of directors appear in the Official Notice at the top of this page. Additionally, we will each give a report of various cooperative activities as Callaway Electric Cooperative’s board president and CEO/general manager.

Callaway Electric Cooperative ended 2019 in sound financial condition, meeting or exceeding the financial expectations of our lenders. In doing so, the board of directors authorized a capital credit refund totaling about $520,000, which appeared as a credit on our members’ December 2019 electric bills. The cooperative experienced growth in 2019, ending the year with 13,000 active accounts.  Although the growth was minimal, it is still positive for the cooperative, and we are optimistic about the future growth potential. Callabyte, the wholly owned subsidiary of Callaway Electric Cooperative, which offers broadband, VoIP and television service grew by 1,522 subscribers, ending 2019 with 4,204 active subscribers.  
Throughout 2019, we maintained our proactive and aggressive right-of-way maintenance program that was initiated when the fiber build began. The efforts to replace old poles with taller, stronger poles continued in 2019, which is an essential component of our reliability efforts. Via Callabyte, fiber was extended into communities, such as Holts Summit, New Bloomfield, Hermann and Jonesburg. The number of homes passed for every dollar of investment has enhanced Callabyte’s business plan. As it has been in Callaway Electric’s service area, Callabyte also has been well received in these communities.

Looking forward, 2020 is already shaping up to be a successful year for your cooperative.  First, there will be no rate increase in 2020. A slight reduction in wholesale power costs, constant scrutiny of expenses along with an increasingly positive performance of Callabyte are contributing factors allowing 2020 rates to remain unchanged.  

We anticipate the fiber build to continue into 2020; however, not as aggressively as the past two years. With our continuous commitment to strong electric reliability, we will maintain a focus on pole and conductor replacements. From a financial strength perspective, efforts will continue to increase sales for Callaway Electric Cooperative and Callabyte.  

Whether it is adding a security light, installing a ground source heat pump or investing in an electric car, these are a few examples of how electricity can add value to your life. Likewise, if Callabyte is available at your home and you desire internet service, we encourage you to utilize our service. It is reliable, affordable, and we have a local office and employees to assist you with questions or service needs.  And, by choosing to do business with Callaway Electric Cooperative and Callabyte, you strengthen the finances of the organization and provide value to the overall member base.  
Throughout 2020, we will remain steadfast in our priorities. We will strive to offer quality customer service, maintain a local office and employ quality individuals. We have a great team who are always looking for opportunities to better serve our cooperative members. Likewise, our dedicated board of directors are focused on continual training and education to effectively govern the cooperative in an ever-changing industry while working to enhance the quality of life for the members.

As we enter a new decade, your cooperative exists to provide safe, quality and reliable electric service at the lowest cost consistent with sound business practices. It is a mission we have embraced since our founding. We hope you can join us for this year’s annual meeting!

 

Thank you for your support of Callaway Electric Cooperative!

David J. Means, President

Thomas W. Howard, CEO/General Manager

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