Another fiscal year for South Central Coop is complete. We ended up with a loss on local operations, but a small savings after regional patronage is brought into the picture. The auditors have completed the financial reports and your board of directors has approved them. As a result, the board has decided not to approve an allocation of patronage for this year. There are several factors involved in the lack of financial success for this fiscal year. We realize this is not acceptable and all option are being looked at to get us back on track for local financial success.
Even though we are not allocating patronage, we will be passing through Domestic Production Activities Deduction to members that sold us grain in the fiscal year ending August 31st,, 2017. The amount of your deduction is based on the bushels of grain sold in that fiscal year at a rate of 18.9144 cents per bushel.
Find below our Statement of Operations.
Harvest is starting to get under way. We will be doing all that we can to see that it all fits. We are also getting ready for fall fertilizer to start.
“Have a safe and prosperous FALL”.
“THANK YOU FOR YOUR BUSINESS”