Minutes

    The 69th Annual Meeting of the members of the Umatilla Electric Cooperative was held at the headquarters' building at 750 W. Elm Street, Hermiston, Oregon, on April 22, 2006.

    President Glenn Rohde presided and UEC attorney Henry Lorenzen confirmed that a quorum was present as required by the UEC Bylaws.

    Directors Present were:  Glenn Rohde, Lee Docken, Bryan Wolfe, Bob MacPherson, Jack Chapman, Jeff Wenholz, and RoseEtta Ansotegui, being all of the Directors.  General Manager and CEO, Steve Eldrige; UEC attorney Henry Lorenzen, and UEC Auditor Brent Mickelsen were also in attendance.

Minutes

    A motion was made, seconded and carried to dispense with the reading of the Minutes of the Annual meeting held April 23, 2005, and approving the same as written.

Nominations

    Board of Director candidates from Districts 3 and 4 were introduced.  A call for casting of ballots from Districts 3 and 4 was made, after which casting of the ballots was closed.

President's Report

    President Rohde discussed UEC's 2005 refund of excess revenue and the retirement of the majority of the 1988 capital credits.  A report was provided regarding the progress UEC has made with respect to tree trimming this past year.  President Rohde discussed the member growth within this last year.  He emphasized how UEC continues to serve the best interests of its members. 

Audit Report

    Auditor Brent Mickelson of Blodgett, Mickelson, and Naef, presented UEC's audit report for the year 2005.  Brief financial highlights and plant assets were provided.  UEC was found to be in compliance with applicable accounting standards.

General Manager's Report

    General Manager and CEO, Steve Eldrige, was introduced.  Mr. Eldrige addressed the members and discussed UEC's successful year.  A report was provided on how Lightspeed Networks arose from the foreclosure of NoaNet Oregon.  The volatility of the wholesale energy market was reviewed.  How UEC is managing its costs and advocating on behalf of its members for lower wholesale energy rates was discussed.  

Election Results
    
Henry Lorenzen, UEC Attorney, announced the election results:  Bryan Wolfe was re-elected as Director for District No. 3 and Bob MacPherson was re-elected as Director for District No. 4.

New or Old Business

President Rohde announced the floor was open to discuss any new or old business.  There was no old or new business.  

Adjournment

There being no further business before the membership, the meeting was adjourned at 12:00 p.m.

2006 Umatilla Electric Cooperative Annual Report

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