2017 Budget Analysis

Proposed 2017 Budgeted Revenue (Increase/Decrease over 2016 Budget) Dollars Percentage Dues $ 00 0% Interest $ 2,700 150% Loss Control ($ 1,675) (2%) Miscellaneous $ 00 0% Self Supporting $ 00 0% Publication $ 4,000 < 1% Use of Cash $60,052 100% The numbers I’ll be reading today are rounded to the nearest thousand dollars. Please look to the screen behind me for the actual numbers.   At the end of 2010, the association had current assets, including cash, accounts receivable and prepaid expenses and supplies totaling nearly one point one four million dollars. Other assets including patronage equity and CFC capital securities accounted for an additional thirty-three thousand six hundred dollars.

2017 Budgeted Revenue Sources

Proposed 2017 Budget Expenses (Increase/Decrease over 2016 Budget) Dollars Percentage Communication $16,619 2.17% Loss Control $ 6,327 < 1% Board $26,000 8.0% Legislative $ 3,500 1.30% Member Services $19,900 5.07% Administrative ($ 7,269) (3.71%) Total Expenses $65,077 2.52% The numbers I’ll be reading today are rounded to the nearest thousand dollars. Please look to the screen behind me for the actual numbers.   At the end of 2010, the association had current assets, including cash, accounts receivable and prepaid expenses and supplies totaling nearly one point one four million dollars. Other assets including patronage equity and CFC capital securities accounted for an additional thirty-three thousand six hundred dollars.

2017 Budgeted Expenses

Analysis of Largest Expense Category (Increase/Decrease over 2016 Budget) Dollars Percentage Salaries $11,808 1.64% Employee Benefits $16,200 8.67% Retirement $13,844 7.46% Director Per Diem $ 5,000 2.63% Postage $ 6,925 3.10% Publication $ 0 0% Insert Pages $ 2,500 1.74% Self-Supporting $ 0 0% The numbers I’ll be reading today are rounded to the nearest thousand dollars. Please look to the screen behind me for the actual numbers.   At the end of 2010, the association had current assets, including cash, accounts receivable and prepaid expenses and supplies totaling nearly one point one four million dollars. Other assets including patronage equity and CFC capital securities accounted for an additional thirty-three thousand six hundred dollars.

2017 Largest Expense Category Comparison to Total Budget The statements of activities for the year ended Dec. 31, 2010, showed that self-supporting activities amounted to one million one hundred thousand or 49.9 percent of the total revenue. The association’s dues amounted to one million one hundred seventeen thousand dollars or forty-six percent of total revenue. The remaining revenue, accounting for four point one percent of the budget came from other sources, including Federated Rural Electric’s loss control participation, associate members, loss control training, vocational education, interest, miscellaneous and net assets released from restrictions. The total revenues of the association in 2010 were two million four hundred twenty-eight thousand ninety-eight dollars.

Eight Year History of Dues Revenue Increases Dollars Percentage 2010 $ 0 0% 2011 $26,390 2.35% 2012 $28,685 2.50% 2013 $65,720 5.60% 2014 $ 0 0% 2015 $ 0 0% 2016 $62,145 5.00% 2017 $ 0 0% Avg. Ann. Increase $22,868 2.04%

Cash Analysis as of August 2016 Cash or Cash Equivalents $1,363,382 Accounts Receivable 82,965 Total Cash/Equiv. $1,446,347 Accounts Payable $ (102,305) Deferred Revenue (250,722) Unrestricted Reserves (150,000) Co-op Connections Reserves (220,907) Total Deductions $ 723,934 Available Cash $ 722,413 The numbers I’ll be reading today are rounded to the nearest thousand dollars. Please look to the screen behind me for the actual numbers.   At the end of 2010, the association had current assets, including cash, accounts receivable and prepaid expenses and supplies totaling nearly one point one four million dollars. Other assets including patronage equity and CFC capital securities accounted for an additional thirty-three thousand six hundred dollars.

Use of Cash 2017 Available Cash $ 722,413 Office updates & safety issues Kitchen, storage, ceilings, stairs, etc 160,000 Roof 7,500 HVAC system 55,000 2017 budget 60,000 Uses of Cash (282,500) Available Cash end 2017 $ 439,913