CEO's Report - West River Telecommunications Cooperative

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President’s ReportOn behalf of the Board of Directors, Management and the Employees at WestRiver Telecommunications, welcome to our 59th Annual Membership meeting.Matt Erhardt, Jr.PresidentWest River had another successful year in 2010. During the construction season,we finished the upgrades to our outside plant. Now virtually every subscriber hashigh quality digital phone service and access to high speed internet. This hastaken several years to complete and several millions of dollars to achieve. Thiswas all done without borrowing any money. With our strong financial condition,we were able to complete these projects with our own cash. Which leads meto the next order of business; this was our best year for margins in West River’shistory. This allows us to retire capital credits to you, the members, approximately$2.5 million.It is mixed emotions to have CEO Grosz announce his intentions to retire. It will besad to see him leave West River as he has been very dedicated to this industryHis knowledge and work ethic have been greatly appreciated by not just theBoard but also by his peers. We wish him all the best in whatever he decides todo, whether it is getting back in the political arena, just going golfing or travelingthe globe. He will be missed.Even though West River faces many challenges, I am confident of the future.With your support and the dedication, ability and hard work of managementand the employees, West River will continue to provide state of the art highquality services it enjoys today well into the future.On behalf of the Board of Directors, the CEO/Manager, Staff and Employees,once again welcome, thank you for your patronage and hope to see you againnext year.Thank you for attending our 59th Annual Meeting.Matt Erhardt, Jr.“this was our best year for margins in West River’shistory. This allows us to retire capital credits to you,the members, approximately $2.5 million.”3 WEST RIVER TELECOM
CEO’s ReportGreetings and welcome to the 59th Annual Membership Meeting of West RiverTelecommunications Cooperative.The past year was a successful one for WRT. We pretty much finished our upgrades toenable us to provide terrestrial broadband to all but a small handful of customers. Weincreased the capacity of our ring to accommodate the growth of internet usage. Wewill continue to do so again this year. It is a major effort and expense to stay ahead ofthe capacity needs of our customers.We had a successful year financially. Our net margins were the highest in history. Most ofthe net margins are due to our participation in cellular partnerships. The foresight of WRTto participate in these partnerships to the fullest is paying huge dividends.The FCC began the process of transitioning from supporting voice based networks tosupporting broadband based networks. The cost for us to provide broadband is greaterthan it is to provide voice only networks. WRT, and other rural telecommunicationscompanies, rely on support from the Universal Service Fund and other high cost funds toprovide services at reasonable rates. All of those support mechanisms are being lookedat by the FCC.Mick GroszCEOIf those support mechanisms are reduced or eliminated the ability for WRT to provideservice at affordable prices in rural areas will be jeopardized. The Board andmanagement, in conjunction with other telcos, are working hard to ensure that the FCCdoes not leave rural America behind.This will be my last report to the membership of WRT. I have announced my intentions toretire sometime prior to the next Annual Membership meeting. It has been a privilegeand honor to have the opportunity to manage a great company.Working for the member-owners of WRT has been a pleasure. Working with the members,Board and employees of WRT has been one of the best experiences of my life.The member-owners of WRT have been loyal customers of WRT throughout the years.The member support I have enjoyed throughout my years as manager is greatlyappreciated. Our number one goal at WRT is to provide for the telecommunicationsneeds of our members with quality service at affordable rates.The Board of Directors is a very dedicated group of individuals. They work hard tounderstand and provide for the telecommunications needs of our members. It takesmuch study and research to anticipate the future needs of customers and then providefor those needs in a timely manner. I very much appreciate the guidance and supportthe Board has provided me through the years.The employees of WRT are second to none. The heart and soul of any company are theemployees. WRT employees are well educated in their fields. WRT employees arededicated to providing our customers with the best service possible. I have neverworked with a better group of people.My time has come to move on. I am confident that WRT will be here far into the futureto provide for all of your telecommunication needs. The people that make WRT work willstill be here for you.Mick Grosz2011 ANNUAL REPORT4
Page 2 and 3: 59th Annual Membership MeetingJune
Page 6 and 7: Board of Directors/CEO/AttorneyWRT
Page 8 and 9: Balance SheetsDECEMBER 31, 2010 AND
Page 10 and 11: Statements of OperationsDECEMBER 31
Page 12 and 13: WRT EmployeesMick Grosz25 yearsLasy
Page 14 and 15: WRT EmployeesJody Murschel15 yearsA
Page 16: West River Telecomwww.westriv.com10

CEO's Report - West River Telecommunications Cooperative

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