Greystone Power Corporation Annual Meeting
The 2020 Annual Meeting of Members was held virtually due to the COVID-19 pandemic. Key discussions included the ratification of the 2019 Annual Members Meeting minutes and the election of directors for Districts 2, 6, and 7. The Treasurer's report highlighted strong financial standing, with revenues surpassing $280 million and net margins exceeding $22 million for the 12 months ending in August 2020. A record $23 million in capital credits was returned to members, including a special $15 million distribution in May to assist members during the pandemic, in addition to the regular fall return. The President/CEO's report commended employee adaptation during the pandemic, discussed proactive disaster planning, and detailed the early distribution of capital credits. Furthermore, preparations for the move to the new headquarters in Paulden County, anticipated for early 2021, were mentioned, noting the project will incur no new debt. Member questions addressed the policy on service charges for multiple meters, the use of herbicides versus mowing for vegetation control around power poles, fees for electronic bill payments, and the structure of capital credit payouts, with redirection options pointed toward the Operation Roundup program.