Skagit Farmers Supply hosted the 86th Annual Meeting of our membership on Wednesday, March 11th in Mount Vernon, WA. Brandon Hansen, of Moss Adams LLP., gave members the annual audit report, noting that SFS had sales growth of 4.4% with record sales and earnings during the most recent fiscal year.
Nels Lagerlund, the SFS board chairman, and Spencer Fuentes, one of the board’s directors, reported on the health of the co-op, the importance of our local control and governance, and how that positively impacts our communities. They also touched on our ability to do 50% cash patronage, to maintain a 10 year revolvement and the use of non-qualified distributions.
Tom Boland, SFS president and CEO, touched on sales, costs and thoughts on the future, and announced the results of the board elections. Cristina Waltner was reelected to a three year term and the board welcomed Mark Wesen as a new director.