February finally provided our community with SNOW! We are thankful that a couple of storms came our way. As of 2/23 the total precipitation amount was only at .22 of an inch of moisture, however with the lower temperatures of single digits; the moisture from our most recent snow storm has yet to be determined. The total for the month only recorded .40 of inch of precipitation. We really need more!
Our Superintendent, Connie has been ordering pipe,
scheduling labor, cement trucks and purchasing materials for framing the lining
to be poured on the K Street project. Weather has been a major consideration
for starting this project and the actual start date has not been determined. We
must be completed prior to irrigation beginning in April. The staff has been
mowing when they can and cleaning the canal as they go. This also must be done
prior to irrigation season.
The annual shareholders meeting held Saturday 2/26/22 was held
at the Penrose Elementary School Gymnasium with 68% of the shares represented.
The minutes from 2021 were accepted, the 2022 budget was approved. We did have
an unusual situation regarding the Board of Director positions as we had two
shareholders announce their desire to be considered running for the positions
as they walked in the door at the meeting. Our by-laws do permit for
nominations to be made from the floor prior to the voting process. The ballots
had only two shareholders running for re-election on the documents (as these
ballots must be prepared in advance of the meeting). This did raise some
concerns; however, the ballots also provide for write in candidates and it was
determined that the voting process could continue as required. Unfortunately;
we had several shareholders that opted to place their ballots in the voting
boxes prior to the voting process. The ballots were tallied and it was declared
that Tim Hall and Charlie Newlon retained their Board of Director seats. The
ballots were verified on Monday the 28th with the following results:
Tim Hall – 879 Shares, James Sheridan – 316 Shares, Charlie Newlon – 1052
Shares, and Katherine Troutman – 156 Shares.
Julie Falletta-Dinkle our investment representative with Edward Jones proposed
to the Shareholders that if the investments were to be modified to long term
diversified conservative investments such as stocks and bonds with a re-balance
protection to reduce the risk factor, we could earn more interest than the
current 1%. A motion was made to accept the proposal with a majority approving
the proposal. Edward Jones did not provide written documentation for review as
many shareholders had questions and concerns. It was determined that the
proposal change will not go into effect until the documents could be reviewed
by the shareholders and any concerns or questions resolved prior to making the
changes. Any discussions should be addressed at the monthly Board of Directors
meeting to be held March 8th at the 209 Broadway office at 7:30 pm.
Invoices for the 2022 assessments will be mailed out the
week of March 7th and are due 4/1/2022.
As always pray for snow or rain !!!!
