STRATA NETWORKS held its 63rd Annual Meeting on Thursday, June 16, at the Roosevelt Jr. High School. STRATA members and customers enjoyed a barbeque dinner, saw demonstrations of new developments in technology, and attended a business meeting held afterward.
Elections were held for board positions in the Randlett, Tabiona, and Vernal districts. Running unopposed for the position of director from the Randlett District was JoAnn Winn. Running unopposed for the position of director from the Vernal District was Kelly Dastrup. Winning the election for the position of director from the Tabiona District was Max Fabrizio, defeating candidate Guy Taylor Jr. Elected directors will serve a three-year term.
Cooperative members heard reports from Board President Ashley Shiner, Board Secretary/Treasurer Aaron Reary, and CEO/General Manager Bruce H. Todd.
Secretary/Treasurer Aaron Reary gave a financial report, and told members that although the effects of the suffering economy within the Uintah Basin have impacted STRATA, the cooperative continues to be profitable.
President Ashley Shiner reported that STRATA Networks has had another great year with the financial condition of the cooperative continuing to be strong. Shiner emphasized that STRATA is a cooperative, and was originally formed as a non-profit organization. “We have a strategic plan, and we have a budget,” Shiner said. “We review them annually, and we adhere to them. We work to accomplish both.”
CEO/General Manager Bruce Todd addressed customers and members who attended the meeting about the push/pull effect of the telecom industry drivers.
“There are forces that pull and push the industry of which Strata Networks is part of,” said Todd. He told members that the customer and technology are the pulling forces that drive the company. “A dynamic of the industry is knowing what the customer demand is, and then providing the technology to meet their wants.”
The regulatory/economic models and governing structure are the push of the telecommunications industry. On March 30, 2016, the Federal Communications Commission (FCC) provided a transformational order. The greatest impact of that order is the inclusion of broadband as a Universal Service. Based on this new FCC order, the Board and management will be forced to choose between existing regulatory rules or to transition to a new model referred to as the Alternative Connect America Model.
Of special interest to members of the cooperative, Manager Todd addressed the cooperative’s revenues. He said that in 1994 the cooperative had under $10 million in operating revenues. For the year ended 2015, STRATA reports over $63 million in operating revenues. Following up on that statement, Manager Todd highlighted two items of importance regarding the cooperatives financial strength. The first was that since 1992, total subsidiary earnings exceed $12 million. Second, is that retained earnings of the cooperative and its subsidiary operations amount to over $44 million. He reported that the cooperative has operated so well financially that this year for the first time ever the Board authorized patronage of $1 million to members of the cooperative.
Manager Todd closed with a quote, “The best time to plant a tree is 20 years ago. The second best time is now” (Old Proverb). He stated that the board foresaw the future, and helped STRATA become diversified for the future. He restated the meaning of the company name, STRATA Networks, by saying, “We have built layer upon layer, forming a rock solid foundation of the latest technologies.”
Following Manager Todd’s report, UBAOG representatives were presented a $20,000 check from Golf Committee Chairman Tyler Rasmussen. This money was raised at this year’s Charity Golf Classic to benefit local food pantries. Since its inception 15 years ago, the golf tournaments have raised $124,000 to help charitable organizations throughout the Uintah Basin.
The cooperative welcomes any questions regarding the meeting’s reports and encourages members to call (435) 622-5007.
For more information, please contact Tyler Rasmussen at This email address is being protected from spambots. You need JavaScript enabled to view it..
About STRATA NETWORKS: STRATA NETWORKS is the leading telecommunications provider in the Uintah Basin, providing advanced voice, broadband, television, and nationwide wireless services. The company is headquartered in Roosevelt, Utah with a coverage area extending in to a tri-state region, serving over 60,000 customers. STRATA celebrates over 60 years of technology expertise, exceptional customer relations, and a devout corporate social responsibility to its community. The company functions as a local cooperative, in which customers can also become member owners of the company who may receive patronage dividends and participate in company voting processes. More information is available at www.stratanetworks.com.