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News staff writer
March 8,
2006
Stephen Patterson, Hood River Supply’s auditor, reported a
record sales performance for the company’s fiscal year during
its 56th annual meeting at the Pine Grove Grange on Feb. 21.
The meeting was called to order by President Robert Wimmers at
7:10 p.m.
In his financial report on the cooperative’s past fiscal year
performance, ending in September 2005, Patterson reported sales
of $6.1 million, an increase of 15 percent over the previous
year.
General Manager Pat McAllister announced the completion of the
company’s new facility in Odell in the John Weber Business Park.
Two new directors were elected during the meeting and the two
existing directors were reappointed. Sue Wiebalk was elected
from District 2 (Upper Valley), replacing Harold Beth, Jr., who
chose not to run after serving 12 years on the board. Darin
Molesworth of Mosier was elected from District 5 (Mosier),
replacing Grant Wilson, who also chose not to re-run.
Keith Sandahl was re-elected to District 1, and Robert Wimmers
was re-elected as an At-Large director. Beth and Wilson were
recognized for their contribution and service to the Hood River
Supply Board.
McAllister also recognized Ken Lolley for his 40 years of
service to Hood River Supply and presented him with a retirement
gift. (Lolley officially retired from Hood River Supply on Feb.
24.)
Door prizes were drawn and the winners were David Paasch,
Margaret Kahler, Leonard Wood, Darin Molesworth, Dave Wiebalk,
Pat Moore, and Mark Mears.
McAllister also reported another strong year of the company’s
patronage distribution and stock retirement. Hood River Supply’s
Board declared a patronage distribution of 4.4 percent of sales
with 30 percent in cash. The board also announced a stock
retirement for all remaining stock issued in 1978.
Total cash returned to members during the meeting was nearly
$90,000. McAllister noted that Hood River Supply has returned
more than $500,000 in cash to their members since 1990.
Local savings for fiscal year 2005 was $154,567 and net savings
after regional patronage was $221,427. Patterson also reported
on the continued financial strength of the company’s balance
sheet, by reporting a net worth of 64.9 percent.
Board President Wimmers gave a brief update on the activities of
the board directors for the past year. He reported on the
overall performance of the company by division, by giving an
overview of this past year’s accomplishments. |
