Sunday November 23, 2014

Card lock most lucrative co-op component


Borden Co-op held their annual supper and meeting in the Borden Community Centre with the Borden Lions catering to over 90 for the roast beef supper.

The meeting was chaired by John Buswell with Ruben Rempel as secretary. Board president Rob Roenspies thanked the management and staff for all their hard work and Patty Kraft as PT general manager. He spoke about a few glitches with fuel delivery to start with and the grocery store needing some upgrading in the coming year.

GM Patty Kraft thanked the staff and presented a 10-year certificate to Jean Brooke and a five-year to Lisa Cheney. Diane Verishine had received her 15-year certificate and gold ring earlier in the year. She spoke of a few changes – getting in lottery tickets and tobacco, the grocery store being open until 7 p.m. Monday to Friday, selling the fuel truck as fuel is now delivered out of Saskatoon and how there is going to be a reward for the late night shoppers. Each month a number will be drawn and if that person shopped in the evening they will win a $25 gift certificate.

Kraft also gave the financial report with sales of $3,971,058, cost of goods $3,665,089 for a gross margin of $305,969 less expenses of $448,766, leaving a deficit of $142,766. But with patronage dividends from FCL of $336,694, the net savings were $193, 929, allowing the co-op to pay out allocations to members of $112,671. The co-op has one interest-free payment of $66,421on the card lock and that brought in the most revenue the past year.

Daved Meakin gave the delegate report and then Beryl Bauer, director for S11 FCL, reported on FCL’s year, with $8.3 billion in sales and $839 million in profit, giving back to co-ops $537 million in patronage dividends. There are 1,034 co-op facilities in Sask., $167 million has been paid out to CRS payroll, and, in the last five years, $287 million has been given back to members. There were 10 new stores, 20 convenience outlets, 18 hardware and 35 card locks opened in 2011 along with 14 amalgamations.

FCL gave their largest donation when they gave $750,000 worth of hardware to Habitat for Humanity. They have a new cheese supplier reducing cost by 10 per cent. Refinery expansion will increase to 140,000 barrels a day from 100,000 at present. They are building larger bulk plants and a huge tank farm at Carsland, Alta., which will ship by rail. FCL’s year-end is October and the first quarter shows all divisions ahead of budget. He told of the youth camp, that the UN has designated 2012 as the International Year of Co-operatives and that the last week of May is Sask. Co-op Caring or Volunteering week.

Re-elected to the board were Denise Nichol, Gary Nickel, and Luke Walker, joining Rod Roenspies, David Sutherland, Roy Saunders and Daved Meakin as board members. Door prizes were won by Tony Martens, Eric Pearce, Jean Sawchyn, Peggy Walker and Nick Romaniuk. The glass cups filled with candies on each table went to the ones having their birthdays closest to April 19.



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