BEARTOOTH ELECTRIC FOCUSES ON FUTURE FORECASTING
Consultant, Terilyn Wallis to present new CFC Compass 3.0
financial forecasting model at July board meeting
BEC members, you are invited to join your board, committees, and staff for a Cooperative Financial Forecast presentation by industry expert, Terilyn (Teri) Wallis, president, Terilyn Wallis Consulting. Teri developed BEC’s new financial forecast model in the National Rural Utilities Cooperative Finance Corporation (CFC) Compass 3.0 system and will unveil its results at the BEC Board of Trustees meeting, Tuesday, July 31, 2018, 12:00 Noon at the BEC Red Lodge office.
The Compass 3.0 financial forecast model provides the BEC Board, its risk management committee and co-op management:
- A long-term framework for examining budgets and capital expenditures
- A long-term strategic analysis tool
- Reality assessments to test assumptions and results of financial plans and reports
- A risk management tool to examine alternatives for planning and due diligence
- A key element of the co-op’s financial process to help align the budget, plan and forecast.
Wallis is under consideration to replace retiring Kim Mikkelsen, president, Kim Mikkelsen Consulting who has worked with BEC since 2011 and facilitated the development of BEC’s original financial forecast model. Wallis has strong experience in financial management including 14 years as CFO of a Wisconsin electric cooperative and six years with CFC as a regional vice president. She also holds extensive experience providing financial training and strategic planning workshops.
BEC general manager, Kevin Owens added, “Our relationship with CFC brings so much more to the table than market competitive loans. CFC is a nonprofit finance cooperative with more than $25 billion in assets and provides unparalleled industry expertise.” Owens continued, “CFC is a great partner—a great cooperative partner. They have developed a superior financial tool to assist us in making sure members receive, safe, reliable and affordable electricity today and into the future.
Interested members are encouraged to attend this informative presentation. For more information, call the BEC office at 406-446-2310.