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Wisconsin Rural Electric Cooperative Association / First yearbook, 1938
(1938)

Colbert, A. R.
Annual report of the accounting department,   pp. 15-16 PDF (466.1 KB)


Page 15


WISCONSIN RURAL ELECTRIC COOPERATIVE ASSOCIATION
     ANNUAL REPORT OF THE ACCOUNTING DEPARTMENT
     In 1937, the Accounting Department has grown to a staff of seven
employees and has become a department in the STATEWIDE. The work
consists of three distinct divisions. Accounting, Requisitions and Final
Inventory.
                            PERSONNEL
    A. J. Green is Chief Accountant and Kent Wooldridge is in charge of
Final Inventory. Mr. Wooldridge was formerly in charge of the No. 29A
Clark project, but due to the pressing need of forwarding final inventories
to REA on completed projects, Mr. Wooldridge was chosen to head this
part of the work. Mr. Edmund Huebing resigned at the end of August,
and his place was taken by Mr. Edwin Slightam, who is in charge of
requisitioning funds from REA.
    The present department personnel is composed of A. J. Green, Kent
Wooldridge, Howard Gearhart, Edwin Slightam, D. Duncan Ballantine,
Howard LaCourt, Claire Motelet and Louise Evans.
                           ACCOUNTING
    January 31, 1937, the annual audit was made for the year 1936; the
annual audit made for the year 1937, is inserted at the close of this report.
                          REQUISITIONS
                       (Vouchers for Payment)
    During the year 1937, we have requisitioned REA for approximately
S3,500,000.00 for construction purposes for our member cooperatives.
The largest check that we have received from REA was in the amount
of $221,962.15 which we remitted May 28 to W. J. Florin, Treasurer of
the ROCK CouNTY ELECTRIC COOPERATIVE ASSOCIATION.
    We have had the cooperation and the liberal assistance of the REA
in this work and especially do we wish to express our appreciation to Mr.
F. Allen Vardy, Chief of the Finance Division of REA, for the splendid
cooperation he has shown us.
                           Final Inventory
    We have completed final inventory on ten projects which are listed,
together with the contract9r's construction costs.
                                              Approx. Final Costs for
Project                                        Miles     Contractor
Richland Co-op. Electric Ass'n ................. 267.0  $246,901.07
Head of the Lakes Co-op. Electric Ass'n .......... 115.05  102,115.32
Columbus Rural Electric Co-op ................. 251.0  225,267.40
Oakdale Co-op. Electric Ass'n . ................ 85.5   80.799.18*
Rock County Electric Co-op. Ass'n .............. 402.5  358,550.98*
Buffalo Electric Co-op . ..................... 270.54  223,262.88
Trempealeau Electric Co-op . ................. 424.55  383,406.04
Clark Electric Co-op . ........................ 702.0  550,314.95
Barron County Electric Co-op . ............... 174.84  161,901.21
Columbus Rural Electric Co-op. (Extension). ... 69.48   59,133.87
(*Change orders outstanding)
                          IN CONCLUSION
    We may state, generally, that during 1937 the Accounting Depart-
ment performed many extra services of which only the following will be
mentioned here; preparing and retailing to member cooperatives book-
keeping forms and assisting in exempting member cooperatives from
Capital Stock Tax and Corporation Income Taxes.
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