Holmes-Wayne Electric Cooperative, Inc. Annual Report
The document primarily covers the 2023 Annual Meeting and related reports, including the 2024 Board of Trustees Election information. Key discussion points from the 2023 Annual Meeting included a rate adjustment effective May 2023 due to rising supply and equipment costs, tax payments made by the cooperative to the State of Ohio and local entities, and the return of $1,343,008 in patronage capital credits to members. The Operations Vice-President reported on the successful management of the cooperative in 2022, despite a major weather event, and approval of a $23,077,200, four-year work plan for infrastructure investment. The Auditor's Report for 2022 resulted in a clean opinion. Updates were provided on Operation Round Up, which donated over $83,000 in 2022. The election results for Districts 4, 5, and 6 were announced, and the Oath of Office was administered to the newly elected Trustees. The document also includes the 2023 Independent Auditor's Report, detailed financial statements for 2023 and 2022, and notes explaining accounting policies.