Board meeting upcoming Mon. May 12

Early this month, the next GVEA Board meeting will be held May 12, 2014. The member book has just been uploaded today and has some interesting items up for discussion and approval.

A proposed review of Healy 1 coal fired power plant operations and GVEA organizational structure and strategy for $130,000 plus travel and per diem for a consultant.

An investment policy for the funds put aside in a 'sinking fund' to pay back the balloon payment for the N.P. expansion plant construction bullet loan from some years ago. GVEA only pays interest at present, but is putting aside funds annually to be adequate to pay back the principal when due.

Finally, there was one late addition - a resolution to approve a fuel purchase agreement from Petro Star that was prompted by the upcoming closure of the Flint Hills Refinery. This was reported in the Fairbanks Daily News Miner May 9, 2014.

People around town have commented on the lack of quorum for the recent annual meeting. I don't see this on the agenda, but perhaps it will be discussed under board member comments.

Annual meeting lightly attended, thus no quorum

GVEA's annual meeting at the Carlson Center only had 395 members registered, less than the required quorum of 650, so it became an informational meeting with approval of 2013 minutes held over until the 2015 annual meeting. It was reported in the Fairbanks Daily News Miner

It seems to many that the elimination of the registration bonus $15 in 2013 was the most likely culprit. It was also an attempt to save money on the production of the meeting, costing about $18,000 last year. GVEA wisely announced this in advance to avoid unhappy people in the line and it would appear that their marketing effort was successful in a perverse way. Even with reduced number of cookies and no fruit-vegetable platters, there were trays full of cookies left over. Here's board Chairman Bill Nordmark at the leftover table following the meeting.

If reduced attendance is expected to continue, it might be considered to have it in a smaller and more affordable venue next year. The meeting used to be held at Hering Auditorium.

In a positive vein, the reduced attendance meant that the odds of winning the 9 drawings for $250, $500, and $1,000 were up. Two next-door-neighbors on Chena Hot Springs Road each won one.

The meeting was not video'd this year as in the past few years, but meeting audio and the Powerpoint presentation was promised to be on line soon.

A final thought is that it is important for members to be involved in their co-op, thus show up. Member feedback in the past couple years was to do away with the frills of the annual meeting production and concentrate on business. I think this goal was accomplished. That being said, it appears that carrots are still needed to garner a quorum.