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Annual Meeting

TCEC 79th Annual Meeting

The 79th Annual Meeting of the members of Tri-County Electric Cooperative was held Saturday, September 21, 2019, in the Madison County High School Gymnasium, on the campus of the Madison County High School in Madison, Florida. Registration began at 9:00 A.M. Approximately 900 members and friends began the meeting with refreshments provided by Covington’s Catering, while entertained by the Mercy Mountain Boys Band. After a performance by Law Dog, a short video was presented showcasing the 2019 NRECA Washington, D.C. Youth Tour delegates.

The Taylor County High School Junior ROTC presented the colors followed by the Pledge of Allegiance given by Miss Gracie Galbraith, 2019 NRECA Youth Tour Delegate followed by Miss Jadyn Gore, another 2019 NRECA Youth Tour Delegate offering the invocation.
TCEC Vice Chair Bobby Dodd introduced the guests present and members of the Board of Trustees. During his address, he stated since 1940, sixty-nine men and women have served on TCEC’s Board of Trustees. During the cooperative’s 79 years of operation, the board has been comprised of co-op members using electricity in their homes supplied by TCEC, adding that by having the distinction of being governed by members residing in the community, it has created a strong local consumer perspective in the boardroom. Making sure the board pays close attention to member satisfaction, with emphasis on making investments into the electric grid to improve reliability, implementation of technology upgrades to the electric grid system to help get the lights back on following storms. He concluded his remarks by reminding members of the importance of being prepared for the future and maintaining a knowledgeable and motivated workforce that keeps service to the members a top priority.

TCEC CEO Julius Hackett noted that due to the meeting schedule falling within the peak of hurricane season, weather seems to provide plenty of conversation during annual meetings. Hackett complimented the board in recognizing the benefits of maintaining a modern electric grid and making resources available to help the cooperative prepare for the future and thanked the employees who work hard on behalf of the members.
In closing he spoke of the importance of not only providing power to the members but the significance of empowering the communities served by the cooperative.

TCEC Secretary-Treasurer Catherine Bethea reported that the Cooperative’s 2018 Financial Report was prepared by Nichols, Cauley and Associates, CPAs, with no instance of non-compliance reported. She pointed out the most significant financial highlights for 2018 reflected the year ending with net margins from operations of $1.9 million, revenues of $39.8 million and operating expenses of $36.6 million. There was a slight increase in energized meters ending the year with 18,391 energized meters. She reported that
$5.3 million dollars was invested in the power system during 2018. She further stated the overall financial condition of the Cooperative remains strong. As a display of this fiscal strength the Board of Trustees voted to retire over $940,561 in capital credits last year and returned those dollars back to the membership.

Director Elections – TCEC welcomes newly elected trustee, Ann Herring, the winner of a two-person race in District 6. Incumbent trustee, Donnie Waldrep of District 3 was elected by acclamation and incumbent trustee Catherine Bethea of District 5 was elected by acclamation.

Keynote Speaker Nanette Hitchcock spoke on how our influence mattersin the lives of others and each day we should focus on the success of others by being a positive influence.

 

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