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Our Annual Meeting

2017 Annual Meeting Quorum Eludes CDEC
Wes Malcolm Elected to Represent District 2

GRANTS, N.M. – Continental Divide Electric did not take any official actions during the business meeting of the co-op’s annual meeting of its membership on Sat., April 29, at Grants High School. CDEC registered 483 members, and it needed 556 to establish a quorum.

“We were quite impressed with the number of co-op members who braved the blustery, winter weather to register, vote and attend this year’s annual meeting. We are very appreciative of their support, and we wish to thank all the organizations that participated in the pre-meeting health fair,” CDEC’s Chief Executive Officer and General Manager Robert E. Castillo said.

Saturday morning’s icy conditions forced the cancellation of a fun-run that the City of Grants Parks and Recreation had planned, as part of the pre-meeting events. It did not, however, stop Cibola General Hospital from holding a car-seat clinic in the Mountain Road parking lot of GHS, as well as a mobile blood drive by United Blood Services and the outdoors presence of several Grants-area public safety agencies.

Two of the three trustee seats up for election were uncontested with incumbent board members Keith Gottlieb of Cubero (At-large) and Joe Hoskins of Thoreau (District 7) retaining their seats. Wes Malcolm of Bluewater was elected to represent District 2, which had been previously vacated by Lynn Head of Milan.

“When Continental Divide Electric is unable to register the number of members needed for a general quorum, board of trustee elections can still proceed, if a quorum of 3 percent of members from that district is registered at the annual meeting,” CDEC’s Manager of Member Services Mac Juarez said.

A total of 117 CDEC members from District 2 registered and voted between 8 a.m. and 11 a.m. – the co-op’s window for member registration and voting. Malcolm received the most votes with 41.

No bylaw amendments were proposed to CDEC’s membership, this year.

Despite the lack of quorum, CDEC still presented annual reports from Castillo, board president Keith Gottlieb, the co-op’s auditing firm and brief remarks from guest speakers State Rep. Harry Garcia, State Sen. Clemente Sanchez, New Mexico Public Regulation Commissioner Lynda Lovejoy and Ellen Connor, senior vice president of organizational services and chief technology officer for Tri-State Generation and Transmission Association, CDEC’s wholesale power provider. The presentations were made inside the GHS auditorium.

“Financially, I am happy to report that this calendar year, CDEC will retire over $780,000 in patronage capital to members who received service during the calendar year 1990,” Gottlieb stated in the co-op’s 2016 Fiscal Year Annual Report, which CDEC members received along with their registration goodie bags.

Since its inception, CDEC has returned just over $25 million in patronage capital to its members, according to Gottlieb’s written report.

During Castillo’s oral presentation and in his written report, the co-op’s CEO announced that later this year CDEC will make high-speed Internet service available to residents in the city of Grants who wish to subscribe. “As we extend our communication network toward CDEC’s Bluewater substation, Internet service will become available to residents along the path,” according to Castillo’s written report.

CDEC also continues to work toward securing a suitable location for a new headquarters facility, one that is well suited to accommodate heavy equipment and a pole storage yard. And one that can “make broadband service readily available for economic development and the creation of new jobs in the community,” according to Castillo’s written report.

Adam Bailey, CPA, with CDEC’s auditor Bolinger, Segars, Gilbert & Moss, LLP, reported a clean bill of financial health for the co-op with total revenue of $59.5 million in 2016, compared to $55.7 million in 2015. Total expenses last year were $58.3 million, compared to $55.4 million in 2015.

Links to CDEC's 2016 Fiscal Year Annual Report can be found below this year's meeting photo.

 

 

 

 

 

 

 

 

 



More annual meeting photos can be found on CDEC's Facebook page, here.

CDEC Board President's fiscal year 2016 report, here.

CDEC CEO/General Manager's fiscal year 2016 report, here.

CDEC Condensed Balance Sheet for fiscal year 2016, here.

CDEC Statement of Operations for fiscal year 2016, here.

CDEC 2016 Annual Meeting minutes, here

Official copies of the 2016 Fiscal Year Annual Report booklet can be found at CDEC's Grants and Gallup offices, or contact CDEC's Member Services Department at (505) 285-6656 and we'd be glad to provide a copy by U.S. Mail.

 

200 E. High St., P.O. Box 1087, Grants, NM 87020 • (505) 285-6656
 

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