Not only did Cimarron Electric Cooperative finish its 2017 and 2018 Fiscal Years with record net operating margins,but its 83rd annual meeting also drew a record crowd Thursday night at the Kingfisher County Fairgrounds.

More than 900 members attended the event, more than double the 415 members required to comprise a quorum for the purpose of conducting official business.

The cooperative’s record-setting net margin of $4.9 million in 2017 was eclipsed by 2018’s net margin of $7 million, according to the annual report handed out at the meeting.

Operating revenue for both years were $40.9 million and $49.2 million respectively.

“Those margins are without a doubt the result of the tremendous explosion in electricity sales due to the oil and gas activity in our nine-county service territory,” Snowden said, noting that he’s also aware that the economic boon won’t last forever.

Snowden highlighted some of the improvements the extra revenue is financing, including $2 million to cut and spray trees and other vegetation growing into the powerlines, replacing aging copper lines throughout the power grid (he noted all but 200 miles of the 5,000 miles of lines has already been replaced), and implementing smart technology to allow more issues to be controlled or corrected from the central office.

Snowden also announced that the board of trustees voted to retire $1.5 million in capital credits for the years 1989-92.

“If you were a member during that time, you can expect to see your check in your mailbox the week of Thanksgiving,” he said. “This moves us ever closer to our strategic goal of retiring capital credits at or below a 25-year rotation.”

In a bylaws election conducted by Cimarron’s attorney, John Ihrig of Blackwell, members voted to amend the bylaws to extend the length of time between the filing period for board seats and the election from 10 days to 30 days and impose qualifications that board members can’t be current or former coop employees and likewise former board members can’t be hired as employees.

Ihrig also informed members of the results of three district meetings for districts 1 (Isabella area), 3 (Okeene/Fairview) and 5 (Geary area), in which insufficient members attended to constitute a voting quorum and no challengers filed for board seats.

As a result, all three incumbents in that area were declared re-elected to new three-year terms, including Ron Sproul (Dist. 1), Rudy Patzkowsky (Dist. 3) and Gene Peters, (Dist. 5).

Members were served a barbecue meal while listening to entertainment by the Jackson Band of Cordell. In addition to registration gifts for all members in attendance, a number of larger cash and gift prizes were given away at the conclusion of the meeting.

Chief Operating Officer Jeff Hyatt welcomed members to the meeting and drew names for the prizes.

Other board members who helped hand out prizes included Tom Kloeppel (Dist. 6); Amie Reed (Dist. 4); Chalentz Hedges (Dist. 2); Robert Yeoman (Dist. 7); Raymond Flatt (Dist. 8) and Jim Simmons (Dist. 9).

Hyatt and Snowden thanked board members for the leadership they provide for the cooperative and also recognized employees who helped organize the annual meeting and prepare the meal.