PREMA HOLDS ANNUAL MEETING

Posted 4 months ago

By Kevin Horn

Panhandle Rural Electric Membership Association (PREMA) held its 69th Annual Meeting Thursday, June 5 in Alliance. An open house of the Alliance facility was also held during this time. Attendees were served lunch and encouraged to view the facilities and visit with the PREMA employees about their needs. Members were given attendance gifts and entered into a drawing for several door prizes.The grand prize winner was Eleanor Phillips who won a MECO electric barbeque grill.

Dale Berndt, President of the Board for PREMA, called the meeting to order and reported that Jerry Underwood from District 6 was reelected to the PREMA board of directors as was Wayne Crawford representing District 7. He reported that 2013 was a good year both financially, with good operating margins, and operationally with over $1.7M in upgrades and replacements to the PREMA utility plant. He also noted that PREMA continued its commitment of returning capital credits to the members. Berndt thanked the employees for their work over the past year noting their contribution to a successful year.

General Manager, Ryan Reiber reviewed the 2013 financial report and highlighted the previous year’s operational activities. PREMA received $13.5 million in operating revenue. The major operating expense was power cost at  $7.9 million. PREMA ended the year with total net margins of $1.18 million. Total assets as of December 31, 2013 are $39.3 million. PREMA also returned $315,725 of capital credits to its members. Reiber also explained the grassroots program sponsored by the Nebraska Rural Electric Association and the National Rural Electric Cooperative Association. This initiative seeks to build stronger relationships with elected officials and also works to educate the public on the issues facing the electric industry.

Three PREMA employees were recognized for achieving milestone years of service in the calendar year 2013 which included: Ryan Reiber, 25 years; Jerry Mathistad, 20 years and Nick Paradeis, five years.