This page contains a Flash digital edition of a book.
inside your co•op


A monthly newsletter of Choctaw Electric Cooperative.


BOARD OF TRUSTEES


George Burns, President Joe M. Silk, Vice President


James Woods


Mike Brewer, Secretary Treasurer Bill Woolsey


Danny Antwine Norman Ranger Marcia Wright


Becky Franks MANAGEMENT AND STAFF


Joe Harris, Chief Executive Officer Jia Johnson, Director of Public Relations Craig McBrain, Chief Financial Officer Jim Malone, Director of Operations Darrell Ward, District Supervisor


HUGO OFFICE


PO Box 758 Hwy 93 North


Hugo, Oklahoma 74743


Toll Free: (800) 780-6486 Local: (580) 326-6486 FAX (580) 326-2492


Monday-Friday • 8 am - 5 pm IDABEL OFFICE


2114 SE Washington Idabel, Oklahoma 74745


Toll Free: (800) 780-6486 Local: (580) 286-7155


Monday-Friday • 8 am - 5 pm


ANTLERS OFFICE HC 67 Box 62


Antlers, Oklahoma 74523 (One mile east of Antlers)


Toll Free: (800) 780-6486 Local: (580) 298-3201


Monday-Friday • 8 am - 5 pm On the Web:


www.choctawelectric.coop


24 Hour Outage Hotline 800-780-6486


MANAGEMENT PERSPECTIVE Dollars and Sense Changes made at CEC are paying off in improved finances F


or Choctaw Electric Cooperative (CEC) the year 2015 will be remembered as one of drastic


change. This included highs, lows, and uncharted territory for nearly everyone involved from the board of trustees to the members themselves.


The year started with the appointment of yours truly as interim manager, nine fresh faces on the board of trustees and a weak financial position. Throughout 2015, your CEC board of trustees placed an emphasis on accountability at all levels and improving the member experience. A financial overhaul was paramount to reaching these goals. As a result of the board's determined focus, the picture today is much different and CEC experienced a drastically improved financial result for 2015.


How much have finances improved? Turn to page 4 of this issue and you'll see charts comparing CEC's revenue and power costs, operating expenses, and margins for 2014 and 2015. It doesn't take a financial expert to see that things have improved at your co-op by a large margin.


Throughout the two-year transition that occurred at CEC, the board of trustees focused specifically on improving your co-op's financial standing. Several key changes were made that resulted in a positive impact on the cooperative’s bottom line. CEC board continues to review co-op policies and procedures in an effort to be as efficient as possible.


In 2015, revenue from the sale of electricity remained in the normal range. More important to CEC's financial goals, the co-op saw an across- the-board decrease in expenses.


c BY JOE HARRIS HIEF EXECUTIVE OFFICER


Many of these reductions are the direct result of actions taken by your cooperative trustees and staff. A decrease in the cost of purchased power due


to lower natural gas prices and market forces within the Southwest Power Pool also played a significant role.


Another notable change occurred early in 2015 when CEC hired Craig McBrain as director of finance and administration. Craig's understanding of cooperative finances has helped your co-op leadership make the most informed decisions on how and where to devote your co-op's financial resources.


You'll find an interview with Craig McBrain on page 4. His comments along with the visual graphs should give you a better understanding of where Choctaw Electric stands today.


The improvements have been a long time coming and have required a lot of hard work and tough decisions by everyone involved. Special thanks is due to CEC trustees for what they've accomplished. In the meantime, rest assured CEC will continue to make changes and improve what needs fixing. We're on the right track now and we plan to stay there.


FIND IT ONLINE 2 | JUNE 2016 | CEC Inside Your Co-op


Q Balance High Bills. Summer heat and winter cold can cause your bill to go up. If you'd rather avoid this unwelcome surprise, consider enrolling in CEC's average monthly payment plan. This plan averages your usage over 12 months so your bill is more predictable. Find enrollment forms online at www.choctawelectric.coop.


CEC


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