Gateway Co-op held its annual meetings recently at the Sturgis Community Hall on June 13, the Buchanan Community Centre on June 14, and the Rainbow Hall in Canora on June 15.
The meetings were chaired by President Lyle Olson, who observed during his report that “We’re pleased to report another excellent year for our co-operative.”
Brad Chambers presented the General Manager’s Report, which included exciting news for Sturgis.
“In Sturgis we have added a fresh meat lineup, along with the re-merchandising of the produce area,” said Chambers.
During the Sturgis meeting, questions came up regarding a new store, and if there was land purchased for that purpose. Chambers was happy to provide the latest information.
“We have seen improvements and growth at the Sturgis location and are in the process of investigating the possibility of expansion,” he continued. “Gateway Co-op has involved the insights and analytics department from FCL to conduct a market study of the trading area to help determine the size/need for more retail food space.
“We have not signed a deal on a parcel of land. There is a location that we would like to acquire and are currently in talks about it.”
The Preeceville operation has added a new tandem fuel truck to better look after the needs of customers.
In Canora, a major recent focus has been on due diligence in sustainability.
“We have started working with the LOOP Company to pick up organic food waste, make sure the waste can be utilized at local farms, either by feeding it to animals or in compost,” reported Chambers.
Gateway Co-op has purchased the parcel of land and the building located south of the Canora C-store. During the question period at the Canora meeting, Chambers was asked about the purpose of the purchase.
“It will provide additional bulk oil storage, leading to increased bulk oil availability in the Canora area. The location has also been earmarked for future expansion,” concluded Chambers.
When introducing the financial report by Office Manger Heather Prestie, President Olson shared that, “The auditor told us we had a perfect audit this year. Good job Heather.”
“Members’ share capital increased by approximately $422,000 which is the current year allocation netted with equity repayments of $612,000,” said Prestie in the financial report.
“Total current assets increased by approximately $1.2 million. Half of this increase is accounted for by the increase in special savings as we had paid off the Home Centre building which had $1.5 million owing at the end of the previous year. In addition, we have seen some increases to accounts receivable and inventories after a full year of operations at the new Home Centre location. A strong allocation and cash repayment from FCL improved cash flow and increased the FCL investment.
“In the Statement of Net Savings, sales increased to just under $46 million and the margin percentage decreased to 16.7 per cent of sales. Operating expenses totaled approximately $7.3 million. The loyalty incentive from FCL amounted to $733,000 for a resulting local savings of $1,065,236. FCL patronage allocation was $1.5 million. After accounting for income tax, our net savings was $2,187,443, with approximately $1,000,050 allocated to members.”
Delegate elections were held at each meeting.
Sturgis delegates will remain unchanged with Chad Rose, Carla Keller, Janet Melnick and Brad Secundiak all being acclaimed into their positions. Tammy Senholt was acclaimed back to her position in the Buchanan district. Tammy Bobyk, Maureen Babb and Bob Ereth are returning delegates to the Canora delegate body, and Marcel Michaud is a new Canora district delegate.
No election was held for the Preeceville district.