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TRANSCRIPT
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98th ANNUAL MEETING
AGENDA
• Invocation – Tom Mulville
• Video
• Call to Order – Tom Mulville ▪ Welcome ▪ Declaration of Quorum ▪ Proof of Notice ▪ Approval of Minutes ▪ Introduction of Past Board Members ▪ Introduction of Previous General
Manager
• Audit Report – Jeff Boyd
• Chairman Report- Tom Mulville
• General Manager Report– John McClelland
• Employee & Retiree Recognition –McClelland/ Mulville
• Nominating Committee Report – Tim Miller
• Election of Directors – Tom Mulville
• New/Old Business– Tom Mulville
• Question & Answer Session
• Redemption Giveaways– Gordon Drees
• Adjournment
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OFFICIAL NOTICE OF THE ANNUAL COMMON STOCKHOLDERS MEETING
NOTICE IS HEREBY GIVEN, that the Annual Meeting of the Common Stockholders of
The Garden City Co-op, Inc. will be held Tuesday, December 5th, 2017, at 2 o’clock
p.m. at the Clarion Inn Convention Center, at 1911 E. Kansas Ave., Garden City,
Kansas. Registration will begin at 1:30 p.m. The purpose of the Annual Meeting will be
to receive reports of officers and management including a review of audited financial
statements, elect directors, and such other matters as may properly come before the
membership. In the event of storm cancellation, the meeting will be held December 11,
2017 at the Garden City Co-op Center, 106 N. 6th Street, Garden City, Kansas.
3 positions will be open this year, Bill Maughlin, Clayton Maddux and Max Engler will be
running for these 3 open Director positions.
This is an important meeting, and the board of directors encourages your attendance
and participation. We look forward to celebrating, and in doing so, we will hold a
drawing for 5 awards of early redemption up to $1,000 in Co-op stock. Refreshments
will be served.
Sincerely,
Bruce Howard
Secretary/Treasurer
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Annual Stockholders Meeting December 2, 2015
The Annual Meeting of the Stockholders of the Garden City Co-op, Inc. met Wednesday, December 2,
2015, at the Clarion Inn, 1911 E Kansas Ave, Garden City, Kansas.
At 2:00 p.m., Tom Mulville, Board Chairman, called the meeting to order. Directors in attendance were
Tyler Hands, Bill Maughlin Nate Bingaman, Michael Deaver, Tim Miller, Bruce Howard, Lynn Teeter and
Associate Directors Matt Horton, Chris Boyd, Clayton Maddux and Chris Fullmer. Associate Director Nate
Bingaman was not in attendance.
Bruce Howard advised that there were 225 voting members present, thus making a quorum. Bruce
further advised that on November 19, 2015, 1,379 notices were mailed and it was certified by the U.S.
Post Office. Bruce asked for any corrections to the minutes. With no corrections, minutes were
approved as provided.
Tim Miller welcomed members and guests and expressed the Board of Directors’ appreciation at the
level of attendance and commitment from so many to the Garden City Co-op.
John McClelland recognized special guests: Charlie Sauerwein with WindRiver Grain; Gerald Miller and
Jonathan Lightner with Commerce Bank; Greg Johnston, Scott Anderson and Mitch Williams with KFSA,
Kendall Poland with Sublette Coop, Brad Cowan with Frontier Ag, Mike Schlochtermeier with Plains
Equity, David Cron and David Rodriguez with Skyland Grain, Mark Rude with Ground Water
Management, Jeff McDaniel with Servi-Tech, Chris Irvin with Monsanto, Steve Fenton with CFA, Lynn
Scherler, Michael Walton and Kelly Krotz with CoBank, Nick Mueting with Lindburg, Vogel, Pierce, Faris,
Grant Elpers with Wells Fargo Advisors. John also recognized all past board members by asking them to
stand, as well as Harley Foulks as past General Manager and all Vice Presidents.
John and Tom recognized Brenda Hays for 40 years, Ann Jackson and Jerald Murphy for 30 years, Eric
VanDoren for 20 years, Kirby Bradley, Brent Merz, Sharon Perkins, Logan Campbell and Larry
Schmeeckle for 10 years and Marlyne Peck, Chris Martinez, Joe Ward, Matt Crase and Tony Salazar for 5
years of service. Jerald Murphy was also recognized for his retirement.
The recipients of the Molz Scholarships were recognized along with Otis and Mary Lee Molz. Maggie
Roth was also recognized for her work on the Pink Pumpkin Foundation.
Matt Horton spoke briefly on his experience as an Associate Director as he completed his term.
Brent Merz, CFO, reviewed the financial information that was distributed in the Annual Report: Sales
2016 MINUTES
Garden City Co-op, Inc
Annual Stockholders Meeting
December 7, 2016
The Annual Meeting of the Stockholders of the Garden City Co-op, Inc. met Wednesday, December 7,
2016, at the Clarion Inn, 1911 E Kansas Ave, Garden City, Kansas.
The meeting opened with Dr. Art Barnaby and a presentation on grain pricing and why basis is where it is
and the volatility in the grain market. A question and answer session followed the presentation.
At 2:45 p.m., Tom Mulville, Board Chairman, called the meeting to order. Directors in attendance were
Tyler Hands, Gordon Drees, Bill Maughlin, Tim Miller, Bruce Howard, Lynn Teeter and Associate Directors
Chris Boyd, Clayton Maddux and Chris Fullmer. New Associate Directors Zion Roth and Curtis Ansel were
also in attendance.
Bruce Howard advised that there were 218 voting members present, thus making a quorum. Bruce further
advised that on November 21, 2016, 1,380 notices were mailed, and it was certified by the U.S. Post
Office. Bruce asked for any corrections to the minutes. With no corrections, minutes were approved as
provided.
Tim Miller welcomed members and guests and expressed the Board of Directors’ appreciation at the level
of attendance Bob Temple, David Cornett, Jeff Huggard and Charlie Sauerwein with WindRiver Grain;
Gerald Miller with Commerce Bank; Greg Johnston and Scott Anderson with KFSA, Kendall Poland with
Sublette Coop, Jason Baker with Scott City Co-op, Tim Daugherty with Land-O-Lakes, Brad Cowan and
Brian Linin with Frontier Ag, David Cron and David Rodriguez with Skyland Grain, William Kerschen with
Servi-Tech, Chris Irvin with Monsanto, Michael Walton and Chrisi Norris with CoBank, Nick Mueting with
Lindburg, Vogel, Pierce, Faris, Grant Elpers with Wells Fargo Advisors, Dave Lemke with CHS, Rocky Bell
and Glenn Wisenbaker with Cenex, Todd Dauber with Garden City State Bank. John also recognized all
past board members.
John and Tom recognized Chris Murphy for 35 years, Cindy Galloway for 25 years, Cindy Becker, Caroline
Duvall, Tim Giesick, Chris Wagner, Cindy Kotara and Ryan Kennedy for 10 years and Bruce Sneath, Angel
Flores, Jesse Ming, Randy Murphy, Robert Ming and Dustyn Arde for 5 years of service. Pete Maestas
and Sharon Perkins were also recognized for retirement.
The recipients of the Molz Scholarships were recognized along with Otis and Mary Lee Molz.
Chris Fullmer spoke briefly on his experience as an Associate Director as he completed his term.
Jeff Boyd, CFO, reviewed the financial information that was distributed in the Annual Report: Sales
$228,865,284.10; Gross Margins $20,638,244.41; Gross Income from Local Operations $33,474,778.14;
Total Assets $152,843,344.67; Total Current Liability $49,993,837.63; Total Long Term Liabilities
$18,187,115.08; Total Members’ Equity $84,662,391.96. Retained Savings are at $46,004,323.76 and
Total Patronage Dividends are at $916,741.45. Nick Mueting of Lindburg Vogel Pierce Faris stated that he
had submitted an unmodified or clean opinion on the August 31, 2016 financial statements. There were
no questions or comments regarding the financial report.
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Patronage Dividends are at $1,223,510.56. Brent further reported the patronage rates that are to be
returned for 2013. Nick Mueting of Lindburg Vogel Pierce Faris stated that he had submitted an
unmodified or clean opinion on the August 31, 2015 financial statements. There were no questions or
comments regarding the financial report.
Tom Mulville then introduced the current Board of Directors. During the 2014-2015 year, there were a
total of 11 regular and 2 special, with 2 director absences and 4 associate director absences. He advised
there was attendance at the Arthur Capper Center, CoBank, Texas Co-op Council and KFSA meetings,
participation in KCC training, as well as several neighboring cooperative annual meetings.
Tom reflected on 2009 and the attitude toward services at that time. He highlighted the changes in
facilities and services that have taken place in the 2015 year. Tom thanked the staff and membership
for their loyalty. He stressed the value the coop offers the membership and involvement in each and
every farm.
Tom then recognized Mike Deaver for his 12 years of service as his term ends.
John McClelland, General Manager, talked about the accounting processes that have given us several
years of zero bad debt and effective billing and an overall effective and successful system. He further
talked about the 2015 harvests and the impacts that a record harvest has at all levels of the company.
John reviewed grain history over the last many years and how truly amazing this harvest has been.
Tom then introduced Boyd Lear to provide the nominating committee report. Tyler Hands and Gordon
Drees were introduced for the two Director positions. There were no nominations from the floor. There
was a unanimous ballet cast for the two nominations.
Tom asked for new business. There was no new business. There was no old business.
A Question and Answer session was then opened.
Early redemptions of stock up to $1,000 were given to Scott Martin, George Ohmes, Max Miller, James
Johnston and Glen Voth. Pete Maestas announced the winners of the 4-Wheeler as Roth Brothers
Farm; Funk Farms the meat bundle; Rome Brothers, Scott Martin and Terry Algrim all won $750 lube oil
gift cards. Gary Richmeier won the God Made A Farmer print.
ting be adjourned.
Tom Mulville then introduced the current Board of Directors. During the 2015-2016 year, there were a
total of 10 regular meeting, with 3 director absences and 5 associate director absences. He advised there
was attendance at the Arthur Capper Center, CoBank, Texas Co-op Council and KFSA meetings,
participation in KCC training, as well as several neighboring cooperative annual meetings.
Tom reflected on the value of the Garden City Co-op to its members. He spoke about the difference
between the handling of the largest wheat harvest and the largest fall harvest without faltering. He
thanked the prior board for their thoughtful approach in providing storage and facilities. He talked about
the value that the coop provides during tough times.
Tom then recognized Tim Miller for his 12 years of service as his term ends.
John McClelland, General Manager, talked about the position that the Garden City Co-op holds as the 51st
largest grain storage facility in the U.S. Storage has been a concentration of this cooperative and the
investments have begun to play the role that they were meant to play. They have provided the storage
and capacities necessary in this area to handle member needs. The largest harvest in history was handled
with huge success. The grain division is not the only division to deal with large growth. The agronomy
division is dealing with equally huge growth.
Tom then introduced Randy Richmeier with the nominating committee report. Chris Fullmer and Lynn
Teeter were introduced for the two Director positions. There were no nominations from the floor. There
was a unanimous ballet cast for the two nominations.
Tom asked for new business. The changes to the Articles and Bylaws were reviewed and explained by
John McClelland. George Benson, legal counsel and tax advisor, reviewed and made the
recommendations on these changes. It was moved and seconded that the Articles and Bylaws be
approved, motion carried unanimously.
There was no old business.
A Question and Answer session was then opened.
Early redemptions of stock up to $1,000 were given to Greg Boyd, Ruth Ann Hickock, Brian Roth, Gerald
Miller and Dennis Zerr. Pete Maestas announced the winners of the 4-Wheeler as Cross Bell Farms;
Mark Parr, ALS Farms, Claar Farms and Merle Blood all won $500.00 credit for lube products.
It was moved and seconded that the meeting be adjourned.
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YOUR BOARD OF DIRECTORS
Tom Mulv ille Bruce Howard Tyler Hands
Bill Maughlin Lynn Teeter Gordon Drees
Chris Fullmer
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Your Associate Directors
Chris Boyd Clayton Maddux
YOUR ASSOCIATE DIRECTORS
Curtis Ansel Zion Roth
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YOUR CANDIDATES
Bill Maughlin
Bill Maughlin lives in Dighton, Kansas and
operates a dryland grain farm in northwest and southeast Lane County raising wheat and milo. He is the third
generation of his family to farm in Lane
County.
After graduating from Dighton High School, Bill attended Barton County
Community College in electronics and the Garden City Community College in
agriculture.
Bill and his wife, Donnis, have two grown
children, a son and a daughter, and two small grandchildren. Bill is currently serving on the Dighton United Methodist
Church Board and the Walnut Creek Extension PDC committee. Bill also works off the farm for the Lane County USDA-
FSA office as a fieldman.
Bill previously served on the Dighton Co-op Board and the Garden City Co-op Board as an Associate Director from 2005
to 2008. He was elected to the Board of
Directors in December 2011.
Clayton Maddux
Clayton Maddux farms north of Deerfield
with his father, Kirk Maddux, his grandfather Phil Maddux, uncle Kent Maddux, and cousin Kyle Maddux. Maddux Farms is a
fifth-generation operation which specializes
in corn and wheat production.
After graduating valedictorian from Deerfield High School, Clayton attended Kansas State
University where he earned a degree in Aeronautical Technology with a minor in Safety Studies. After college, Clayton
worked for a short time as a flight instructor for Kansas State, and as an airline pilot,
before returning home to farm.
Clayton and his wife Sarah live in Garden
City Kansas.
Clayton became an Associate Director of the
Garden City Co-op in November 2015.
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YOUR CANDIDATES
Max Engler III farms in northern Kearny County and northwest Finney County
where he raises dryland wheat and milo. Max and his wife, Cathy, have two children, Zeke (attends KSU) and Zoe (attends GCCC). The Engler’s are members of the Bible Christian Church in Garden City. Max served several years
on the Finney County Farm Bureau board and County Extension board.
Max is the third generation to farm in America. In the year 1912, at age 24, Max’s granddad, Max Sr., left Köndringen, Germany and homesteaded in the sandhills south of Garden City. Max’s dad, Max Jr., returned from WWII in 1944 and started
custom farming, breaking out native sod in northern Kearny and Finney County and eventually establishing the unit farmed by the family today. Max III graduated from KSU in 1981 with a degree in Agricultural Economics. He was employed with the
Federal Land Bank in Guyman, Oklahoma for 2 years and then in the Garden City
office for 5 years. Max returned to the family farm in 1988.