Executive Vice President’s Report

This is our first full year as a single employee organization, stated Scott Stofferahn, Golden Growers Executive Vice President. “We’ve been able to make it work through contracting with Eide Bailly for bookkeeping and by finding more efficient ways to do things. As a result, our administration expenses are down this year and are projected to be down again in 2018.” Stofferahn stated that GGC will save roughly $40,000 annually under terms of the new Grain Services Agreement with Cargill. And despite more SEC reporting associated with a new ProGold lease, overall SEC costs are lower than they have ever been.

Direct Deposit of distribution checks continues to grow with 506 members or 33% currently enrolled. “We will continue to encourage members to participate in this time and cost saving payment delivery method.”

Stofferahn reserved most of his time to discuss Board Governance – specifically a proposal to reduce the size of the Board from 15 members to 9 and reduce the number of districts from 5 to 3. “A preferred plan has been identified, but the Board has not endorsed a plan.” Any change would require a Bylaw amendment at the 2019 Annual meeting. Member comments in the Q&A session were generally supportive of the move. Stofferahn stated that he plans to provide an opportunity for more member feedback by placing a survey on the GGC Website and through an emailed questionnaire.