The MVC's annual audit has just been completed and I am pleased to report that this was one of the best years we have had. I would like to take this time to thank all of the employees and staff of the Monte Vista Coop, for they are the ones that work hard at serving you, the customer, as well as helping to keep expenses down. I would also like to thank the board of directors for their support. This has been a great year for the Monte Vista Coop. I would also like to thank the members for your support this past year and hope to continue to earn that support in the future.
Total sales this year were actually down some compared to last year but our total income was up.
The employee expense was down by $114,000.00; with fixed expenses being up by $20,000.00 (this includes the property taxes, insurance and bonds.) Interest expense was down by $58,000.00 but depreciation was up some. All other expenses were about the same as last year.
Net savings after income taxes were $2,508,404.00 compared to last year's $1,791,666.00 We are planning to return over $650,000.00 in cash to our members this year in patronage and equity retirements.
The Monte Vista Coop can continue to prosper when you, as members, continue to support your company. The ANNUAL MEETING will be June 13, 2013 at Ski Hi Park in Monte Vista. Please plan on attending. You will be voting on two positions for board of directors. Incumbents Nate Berkhart and Sherry Haugen have chosen to run for the board for another 3 year term. Also running are Segundo Diaz and Kent Palmgren.
Thank you for supporting and believing in your Monte Vista Coop.
Community Committed, Agriculturally Driven.
Mike Boothe, General Manager