Little River Electric Cooperative, Inc.’s Annual Business Meeting of the members was live-streamed on Saturday, August 15, 2020, at 12:30 p.m.; see the agenda, election results, prize winners, and meeting video below.
2020 Meeting Agenda
The reports of Officers, Trustees, and Committees.
Election of four (4) Trustees for three-year terms. Congratulations to our returning trustee and to our three new trustees as provided in the bylaws:
District No. 1 – Travis G. Burriss
District No. 4 – W.F. “Bill” Davis, President
District No. 5 – W. Terry Ricketts, Vice President
District No. 10 – Patricia “Patsy” Wilson
And, any other business which may come before the meeting or any adjournment thereof.
Annual Meeting of Members Minutes: Aug. 15, 2020
Little River Electric Cooperative, Inc. held its 2020 membership meeting at 12:30 p.m. on August 15, 2020, by real-time virtual meeting over the Internet, and used integrated audio and video, due to the COVID-19 national pandemic.
The business session was called to order by Wm. M. “Mike” Shirley, President of the Board. The invocation was given by Michael E. Ellis, General Manager.
Anne Marie Hempy, Board Attorney, announced that the registration of members had exceeded a quorum with 1533 registered; the cooperative’s business continued to be conducted.
President Shirley held a copy of the official notice of the day’s meeting and an affidavit of the mailing to members. He noted that the official notice and the minutes for the 2019 meeting had been presented to the membership in the July South Carolina Living magazine and that since the membership needed to be present to accept the minutes as submitted, the minutes would be approved at a later date.
President Shirley recognized other members of the board: Vice President Herman Jackson (District 5), Secretary/Treasurer Kay Brewer (District 10), Cleland Manning (District 1), Bob Parker (District 2), Michael Johnson (District 3), W. F. “Bill” Davis (District 4), Wayne Erwin (District 7), Charlene Haynes (District 7), and Wayne Gary (District 9). He announced the retirement of two board members, Cleland Manning and Kay Brewer, and thanked them both for their dedication and service.
In his remarks to the membership, President Shirley stated that the cooperative was in sound financial condition. The members were thanked for their support of Operation Round Up, a program in which members allow their monthly bill to be rounded up to the next dollar with the proceeds distributed to assist members in need. In 2019, the Trust Board received slightly over $31,000. He thanked the Operation Round Up Trust Board for their monthly review and oversight of the distribution of these donations. He also thanked WIRE (Women in Rural Electrification) for their fundraising efforts.
General Manager Michael Ellis announced that the cooperative was celebrating its 80th birthday and reviewed some of the cooperative’s history and changes over the years. He reviewed the cooperative’s mission to improve members’ quality of life by providing affordable, high-quality service. He expressed appreciation to the cooperative’s employees and thanked the board of trustees. He also acknowledged both Cleland Manning’s retirement and Kay Brewer’s retirement and thanked them for their dedication and service.
Mr. Ellis announced that the Cook case was settled and that by the end of the year members would receive a portion of that settlement. He reported the board’s authorization to return $200,000 to members in the form of capital credits.
Attorney Hempy announced that the vote passed to adopt the new Bylaws (1164 in favor) and that the membership voted to keep the opportunity to vote for every district on the board.
Attorney Hempy announced the election results for this year: Travis Burris was elected to serve in District 1, W. F. “Bill” Davis was re-elected to serve in District 4, Terry Ricketts was elected to serve in District 5, and Patsy Wilson was elected to serve in District 10.
There was no unfinished business presented and no new business. There being no further business the meeting was adjourned.
The financial report for the year ending Dec. 31, 2020
| Gross revenue | $29,0458,729 | $1.00 |
| Wholesale power | 16,061,589 | .55 |
| Cost of operations | 7,973,984 | .27 |
| Depreciation | 1,917,168 | .07 |
| Interest | 1,475,721 | .05 |
| Operating margin | 1,600,168 | .06 |
| BALANCE SHEET | ||
| Assets and other debits: | ||
| Electric plant in service (net) | $58,528,592 | |
| Investments in associated organizations | 3,954,514 | |
| Cash and temporary investments | 4,174,963 | |
| Accounts/notes receivable (net) | 3,076,022 | |
| Materials and supplies inventory | 885,678 | |
| Prepaid services | 111,357 | |
| Interest receivable | 10,593 | |
| Total assets and other debits | $70,741,719 | |
| Liabilities and other credits: | ||
| Long-term debt | $41,948,258 | |
| Membership fees | 106,615 | |
| Patronage capital | 19,411,318 | |
| Other equities | 1,865,067 | |
| Accumulated provision for postretirement benefits other than persons | 1,905,741 | |
| Current and accrued liabilities | 5,504,720 | |
| Total liabilities and other credits | $70,741,719 |
2020 Annual Meeting Video
Did you miss Little River’s 80th Annual Meeting and first streaming event? Watch the video below.
2020 Prizes
Prizes were drawn for at the close of the business meeting to members holding lucky tickets. Congratulations to all our 2020 Annual Meeting prize winners. Look for your credit on your September bill.
Bill Credit Grand Prize Winners
- Terry Erwin $1000
- Albert Lawrence $500
- Wallace & Lavonda Williams $500
$80 Bill Credit Prize Winners
- Thomas Flemings
- Mt. Clement CME Church
- Sheridan Laughlin
- Andrea Brown
- Charlene Campbell
- Polly Prather
- Tanji Hozey
- Clyde Kirkpatrick
- Christopher Bowers
- Craig Ferguson
Trust Board Grand Prize Winner
- Joy Vaughter
