The board of directors held its regular meeting at the Tipmont REMC headquarters in Linden, Indiana on Tuesday, Dec. 20 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 118, Director Candidate Qualification and Election was approved. Policy 223, Payment Extensions was also approved. 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 $173,694, bringing our year-to-date total to margin to $753,295. There were 630 new services installed so far this calendar year. The cooperative currently has a strong equity rate of 43.66%.
The next meeting of the board will be Tuesday, Jan. 24.