The board of directors held its regular meeting at the Tipmont REMC headquarters in Linden, Indiana on Tuesday, Oct. 25, beginning at 9 a.m. All directors were present. Also attending were CEO Ron Holcomb and attorney Jeff Helmerick.
President Bob Baker opened the meeting. Board policy 206, Allocation and Retirement of Membership Capital Credits was reviewed. CEO Holcomb submitted his report along with other staff member reports, in writing.
Manager of Finance and Administration Doug Martin submitted the overall financials for August. The margin was $155,396, bringing our year-to-date total to margin to $ 371,068. There were 488 new services installed so far this calendar year. The cooperative currently has a strong equity rate of 45.60%.
The next meeting of the board will be Tuesday, Dec. 20.
