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FINANCIAL REPORT—Greg Taylor, representative of D. Williams & Co., P.C., CPAs of Lubbock reviewed the audit report on the Consolidated Statement of Operations, as of Feb. 29, 2020, for the Texas Producers Cooperative gins of Amherst and Sudan, pointing out highlights of the audit. Standing beside him is the Cooperative’s Board President, Bryan Baker, who presided for the business meeting. (Staff Photo by Joella Lovvorn)
Saturday evening, Sept. 19, 2020, members of the Texas Producers Cooperative were treated to a special Tailgate Party and Fourth Annual Business meeting, under the Sudan Gin’s cotton seed barn.
The Cooperative’s 4th annual events were combined this year, because of the COVID-19 Pandemic that canceled the April 2020 business meeting, in response to concerns for the safety of its members.
With the open-air concept of the joint Business Meeting and Tailgate Party at the Sudan Gin, the safety of the Cooperative’s members, who are representing the Amherst and Sudan Gins, was deemed to be more obtainable.
Cooperative patrons were mailed their dividend checks in April, this year, so they wouldn’t be waiting on them.
Business Meeting
Presiding for the business meeting was Board President, Bryan Baker, who called upon Brent Nelson to read the minutes of the April 2019 business meeting, which were approved as read.
Chairman Baker thanked everyone for attending the special day’s events, and thanked Mike Hill and his band for entertainment throughout the afternoon.
He then introduced the Regional Representatives from Farmers’ Cooperative Compress, PCCA and PYCO, who attended and participated with the sponsorship of the event.
Gregg Taylor, with D. Williams & Co., P.C., CPAs of Lubbock reviewed the audit report, on the Consolidated Statement of Operations as of Feb. 29, 2020, pointing out highlights of the audit.
Members learned that the Texas Producers Cooperative completed the 2019 crop year by returning $30 cash per each of the 93,703 total yielded bales.
The Cooperative also returned $954,057.67 in equity retirement, and issued an average of $8.15 per bale of qualified equities.
“If you were a patron in 2010 and 2019, your total benefit averages were $48.33 per bale,” Tayler noted.
He further explained, “The Consolidated Balance Sheet as of Feb. 29, 2020, represents $23,971,099 in Assets.”
Board member election
Following the financial report, all of the current board members were re-elected to serve another term on the Board of Directors.
Directors are: President, Bryan Baker; Vice-president, Ronnie Schroeder; Brent Nelson, Secretary-Treasurer; and directors: Kris Himphreys, Dale Demel, Bryan Patterson, Randy Gore, James Synatshck, and Freddie Maxwell.
Guyle Roberson is the Coops Manager.
Tailgate Party
Grills were set up and operting under the east side of the Seed Barn, which provided a variety of food for those who attended.
Guests enjoyed the band music, played from the bed of one of the Cooperative’s truck trailers, which was provided by the “Pennyless Band”, Mike Hill and his Band, and Guyle Roberson (Cooperative Manager) with his Band, that played for the last part of the event.
During the party, the Cooperative gave away caps and T-Shirts, of a variety of colors, to the choosing of those who wanted them.
Membership information was received and recorded.
The party was closed at 11 p.m.