Assiniboia Times, Assiniboia Saskatchewan -- June 4, 2021 9
Southland Co-operative Ltd. Annual General Meeting Was held Monday, May 10, 2021 Virtually over Zoom @ 7:00 p.m. GENERAL MANAGER’S REPORT Thank you for your support this past year. It has been a very interesting year with the COVID-19 Pandemic taking all of the attention. Our Team endured over 200 policy/safety changes to ensure we supplied a safe workplace and worry-free shopping for our members. I am very proud of how our Team Members supported each other during the year. Our Pandemic committee continues to meet weekly to ensure everyone is up to date with the changes being announced by the SHA. All of our staff need to be thanked for being at work and putting themselves at risk. We are classified as an essential service and our staff come to work every day to serve our members. 2020 was a very good year for Southland Co-op. We achieved sales of $59.8 million, compared to $58.6 million the year before. An increase of $1.2 million. We experienced a dramatic drop in sales on fuel at our gas bars and cardlocks due to the restricted travel and the overall decrease in selling price in petroleum. We did however, see an increase in litres delivered to farm because of the lower fuel prices. In total we increased our litres by 5.35% to 24.6 million litres. We experienced growth in Food at all 4 Stores as well as at the Home Center. With everyone following the guidelines many projects got completed around the home. Margins improved by $2.0 million from the previous year. The decrease in demand for petroleum throughout the west resulted in lower allocations from FCL. Combined we received $1.5 million less from FCL than the previous year. Our Net Savings for the year came in at $2.955 million an improvement of $500,000 from last year. With your support, we had a great year.
In total, with estates, our aged bylaw and move away, the Co-op paid out $1,355,412. We have now paid out close to $14.0 Million in cash to our members in the last 10 years. This cash is returned to you the members to do with as you please. This is the huge benefit of being a member and owner of your Local Co-op. Equity and Cash back continues to keep the Co-op System ahead of our competitors. It’s Cash, no flyer points to redeem or claim. At our board meeting in April, your Board of Directors approved an allocation to the members of 4.5% on petroleum, 9% on oil, 3.0% on Hardware and 3.0% on all other products including pharmacy & Liquor. The 4.5% on petroleum transforms approximately into a 5.8c/liter return based on today’s pump prices. (1.289) A pretty good return for paying the same price. Your equity check based on your purchases is in the mail. A total of $1,003,000 will be paid out this month to our members. The General Cash payout includes a pay down of members reaching age 67 who have already applied to $100 and anybody who is over our equity Cap of $12,000.
In 2020, Southland Co-op operated from 11 locations in 6 communities. Total staff compliment during the year was approximately 160 throughout the Co-operative.
Early in the year we completed renovations on the old Saskpower building. It is now set up to host our Board and Team Meetings. We moved to Virtual Meetings as the SHA regulations came into effect and this allowed us to continue our meetings and save travel costs for our Team Members coming in from the branch locations. We completed the renovations in Coronach with paving the parking lot. Renovations were started at the Agro Center in Assiniboia to expand the sales floor. In December we ordered a new fuel truck and 3-ton truck to replace units that are past their prime. We continue to review our assets and look for growth opportunities to enhance our operations to ensure we can provide our members with the goods & services they are asking for. An opportunity arose to purchase a liquor License in Assiniboia. A decision was made and once all drawings and permits are in place, we will start an expansion at the C-Store to accommodate the new venture. We already operate 3 liquor depts in our branch locations and this will enhance our offerings in Assiniboia.
As of January 31, 2021, Southland Co-op now has a total of 8,307 members throughout Southern Saskatchewan. Your support for Southland Co-op only reinforces the contributions of the Co-op in our communities.
Once again, I would like to thank our staff for their dedication to their work during these unprecedented times. And, to our valued members for your support this past year.
Southland Co-op placed 86th in Saskatchewan’s top 100 companies listing. This is the 6th year in a row and we are thankful for all the member support that is helping us maintain this position. Members can see the benefit of shopping at home, seeing the Co-op grow and then sharing the profits at the end of the year.
Our Board was very busy in 2020, by approving an allocation of earnings to the members of $1,823,984. Of this allocation, $850,536 was paid out in CASH. This payment covered the general repayment in June, Aged Bylaw and caps.
Have a great summer, Ken Bahuaud General Manager
President’s Report
2020 is a year we will all remember. Since the onset of the Covid-19 Pandemic we have had to adapt to a new way of life. Safety protocols have had to be implemented to protect our employees and the public as we strive to continue to provide quality service and products. Southland Co-op’s sales grew to $59.8 Million in 2020. We are pleased to announce $1,823,984 will be returned to our members in equity. Approximately $1 Million will be paid out in cash. It pays to shop Co-op. I would like to take this opportunity to thank our staff and management team for their dedication to Southland Co-op. We appreciate all that you do. On behalf of the Southland Co-op Board of Directors I would like to say “Thank-you” to the membership for your continued support. We look forward to serving you in 2021. Have a great summer! Pat Piche Board President
To view the Annual General Meeting presentation and Annual Report Visit our website: www.southlandco-op.crs
Celebrate Equity Days with Southland Co-op!
Visit a location on Friday, June 4th to enter the draw for a $50 Gift Card. One draw to be made at each location.