The last initiative is ongoing and involves developing additional metrics for measuring Tree Top’s performance. Currently we rely on Return on Equity and profits per ton. Both of these measures are short term and are heavily impacted by commercial market value (CMV). High CMV and short crops tend to go together, along with impaired profitability. We question whether relying on these measures alone allows us to properly measure the true value of your cooperative and accurately measure management performance. So we are looking at balancing these two metrics with others. This is a work in progress. You will be hearing more about it in the future.

This year, your Board became more knowledgeable about Sarbanes-Oxley, the legislation that defines the responsibilities of Boards of Directors for public companies, particularly regarding Board oversight of companies’ internal controls. Your board is using Sarbanes-Oxley as a touchstone in its own procedures and oversight. Similarly, management is working to align Tree Top’s internal controls with evolving Sarbanes-Oxley standards. To date, this had meant updating its whistle blower, ethics, and records retention policies.

Finally, I’d like to say farewell as your Chairman. I came to my post with enthusiasm and dedication. I care deeply about Tree Top and about the role it plays for each of us and for our region. I feel very vested in the challenges faced and the changes wrought over my two-year tenure. So passing the baton is bittersweet, leavened only by knowing that I am passing it into the capable hands of my successor. My thanks to everyone for allowing me to serve.