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Financial management best practices and industry standards—How does Beartooth Electric Cooperative (BEC) rank?

BEC members, you are invited to join your board, committees, and staff for an informative Cooperative Financial Management Workshop presented by industry expert, Kim Mikkelsen, president, KW Consulting. Kim will present best practices for Cooperative financial management and lead a discussion of industry practices and how BEC manages its financial and operations practices. Mark your calendars for April 3, 2018, to join us at 9:00 a.m. in Natalie’s Banquet Room (located in Red Lodge Pizza Company).

“Kim has provided financial and business planning assistance for BEC since 2011 and facilitated the development of BEC’s unique, sustainable business model,” stated Arleen Boyd, Risk Management Committee chair. “The risk management committee utilizes this forecast model to examine business and budget alternatives and calculate potential impacts with management before the board makes critical decisions. Management also has incorporated the model into a comprehensive financial planning and budgeting process that gives the board the confidence to approve plans for flexible multi-year programs that best serve members.”

BEC General Manager, Kevin Owens added, “A lot of hard work has gone into getting us to where we are now. The final months of 2017 provided us a new strategic plan and the first year (2018) of a multi-year financial and work plan. Now, success will be measured by how well we execute those plans.” He continued, “Members will see a lot more from us, and I hope it also sends a clear message to members to get involved. Listen, Learn and Voice your opinion, it’s the Cooperative way.”

Interested members are encouraged to participate in this educational workshop. “We hope to see some new faces at this event,” Owens concluded.

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