Northern Lakes Cooperative
Annual Meeting Minutes-August 18, 2021
Live Meeting Cancelled Due to Covid19
Board of Directors: Tom Turngren, Margaret Winter, Julie Greene, Stacey Hessel, Wendy Williamson, Dan Rusch, Cliff Williams and General Manager Mike Covelli.
It was determined that a member quorum was present because there were 301 voting members that cast absentee ballots.
Candidates running for two available seats on the Board of Directors were Wendy Williamson (Incumbent) and Dan Rusch (Incumbent). Their Bios were attached to all absentee ballots that were distributed.
Tom Turngren, Board President provided a letter to the membership:
On behalf of the Northern Lakes Cooperative Board and our employees we sincerely thank you again for your continued support of your locally owned and operated Coop. The Board would also like to thank all the hardworking and dedicated employees who met the tough challenge of working through another year in dealing with the Covid-19 pandemic. Financially the Coop had another strong year and although GM Mike Covelli will go into greater detail in his report, I would like to just mention a few key points: Over $15 million in total revenues, total bank debt reduced to under $500,000 at fiscal yearend and the Coop’s Net Savings exceeded $840,000. Also the Board approved a 5.09 % payout in combined Reward Vouchers and Patronage. In closing, the Coop will continue to look at ways to increase our revenue growth profitably, improve and upgrade our facilities and most important retain, train, hire and compensate all our employees fairly as they made 2020-2021 the successful year it was.
A motion was put on the ballot to approve the 2021 annual meeting minutes. The motion was approved 298 to 2. Motion carried.
CliftonLarsonAllen provided an overview of the financial reports which were provide online at www.nlcoop.com
Mike Covelli, General Manager, presented the General Managers Report (available online) via Power Point Presentation that included some of the operational highlights, first quarter results for 2020-21, marketing highlights and initiatives for the next fiscal year.
I am pleased to report on another good year for the Coop. Looking back over the past 12 months, we experienced a lot of positive growth. My report looks at some of our highlights and key accomplishments. I would like to take this opportunity to thank the entire Coop staff for all their hard work and efforts to make this past fiscal year such a great success. I would like to especially thank all of you, our wonderful members, because without your support and loyalty, none of these successes would be possible. We are off to a great start for 2021-22 and I’m excited to bring all of you another strong and profitable year!
Years of Service Awards were given to 7 employees, Nina Nelson, for 30 years of service, Rick Opfer for 25 years of service, Brenda Bublitz for 20 years of service, Becky Boyle and Dustin Halls for 15 years of service, Gabby Lacapa for 10 years of service and Kevin “KC” Heinz for 5 years of service.
Election results as follows: Motion to re-elect to a three year term; Wendy Williamson 294 to 6. Dan Rusch 294 to 5. Motion carried.
By-Law Change as Follows: Motion to approve by-law change; 289 to 8. Motion carried.
Julie Greene, NL Coop Board Secretary