Execution of Cooperative Financial HealthAugust 22-23, 2023 (T 1-4, W 8-12)Inn on Lake Superior, Duluth, MN
How to Identify, Plan, Execute, and Report
What does it look like and what does it mean for your cooperative to have financial strength?
It takes well-functioning teams to achieve long-term financial strength for your cooperative. Which team is responsible to make this happen? All of them. Boards of directors, senior leaders, managers, department supervisors, and employees aligned to the mission, philosophies, strategies, plans and direction of the cooperative.
How do we make this happen? With intention. And through a process that specifically and deliberately aligns a team that can move forward together. This requires the team to build common business acumen standards that will become our foundation. While we cannot control every team that it takes for the optimal execution financial health for our cooperative, this workshop will focus on what we can do internally. It’s going to take rolling up our sleeves for a day and a half and working through numerous scenarios, documents, and establishing a plan for next steps to move toward continued long-term success.
Whether you have been in an electric cooperative for a short amount of time, or for many years, we know there is a great deal that goes into understanding the concepts of cooperative finances. Concepts, metrics, and key reports will help us determine our current financial health, which we can use as a springboard to determine our desired financial health and how we will know when we see it.
You will be guided through a process of examining balance sheet growth, capital credit rotation philosophies, operating costs, and ultimately arrive at what your cooperative needs for margins to support your financial needs and goals.
What challenges will we face? Strategic direction setting from board teams that are changing more quickly today, goal setting, a changing economic environment, changes in forecasted weather, major disruptions, and the like.
We will layer several influences into our planning.
Then we will build a plan that captures your perfect picture of financial health for your cooperative. Together we will discover what it takes for your financial plan to be successful internally, with the board, and on behalf of your member owners.
Learning Objectives and Interactive Learning Activities will include
Who should attend? Cooperative CEO’s, Cooperative senior leaders (the whole team is ideal but not mandatory), Managers
InstructorTeriLynn Wallis
Cost$309
HOTEL INFOInn on Lake Superior350 Canal Park DriveDuluth, MN 55802For reservations please call: 1-218-726-111Room rates: (per night)2 Queens Lakeview: $219.992 Queens Poolview: $190.99King/Sofa Sleeper Bridgeview: $205.99King/Sofa Sleeper Bridgeview Balcony: $205.99King/Sofa Sleeper Cityview: $190.99King/Sofa Sleeper Lakeview: $230.99
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