(CASS CITY) -- Thumb Electric Cooperative held its 76th Annual Meeting/Member Appreciation Day on Saturday, June 8 at the Cass City Recreational Park. An estimated 750 people attended the meeting, highlighted by the election of three directors and numerous activities.
Re-elected to 3-year terms were Randall Dhyse of Huron County, Kim Nunn of Sanilac County and Louis Wenzlaff of Tuscola County. TEC General Manager Dallas Braun presented the 2012 financial statement, which showed operating revenues of $17.8 million and expenses of $16.6 million resulting in an operating margin of $1.17 million. The Cooperative also earned $232,900 in interest on short-term investments, rental income, subsidiary income and patronage capital. Member's patronage capital accounts were allocated over 8 cents on each dollar paid by TEC members in 2012. The 2012 general patronage retirement of $488,100 for the years 1979, 1980, 1981 and 2012 appeared as a credit on a separate line-item on members electric bills received in May 2013.
TEC Board President Louis Wenzlaff informed attendees that in 2012, TEC employees designed and constructed $2.1 million of new utility plant, bringing TEC's total investment in the 3-county service area to $78 million. The Cooperative also paid $700,795 in property taxes to schools and other governmental bodies in Huron, Sanilac, and Tuscola counties in 2012.
After the business meeting, a lunch was served followed by live entertainment, bucket truck rides, pony rides, face painting and other family activities.