President Craig called the meeting to order shortly after noon with Rick McKee leading us in pledge and prayer.
ATTENDANCE - 28 members were in virtual video and/or audio attendance. We had 2 guests, our speaker J T Hand, and Molly Norton from York Water Co.
ANNOUNCEMENTS - Craig informed us that he purchased the comprehensive version of Zoom which extends our on-line minutes. This allows members to sign in a few minutes prior to our meetings and we will not be held to just 40 minutes for our meetings.
HAPPY DOLLARS -
Christy Lucas - to Ralph & Judy Jodice, and Terry Gingrow for $$ donations to Roots For Boots and in-kind service.
Ralph Jodice - Rotary tablecloth has finally been located (in his home) and are available for Rotary events you may be sponsoring.
Terry Gingrow - for Paul Berg's safe return after his whirlwind tour around the country.
PROGRAM - J.T. Hand, President & CEO of York Water Co.
JT is a member of the Rotary Club of York, and has been President & CEO of York Water Co since March 1, 2020, just prior to the pandemic shutdown in the country.
Some things we learned:
- The York Water Co is in it's 204th year of continuous operation, having been initiated in Feb, 1816.
- JT is the 22nd President of the Company
- York Water Co is the oldest investor-owned utility in the country and is traded on NASDAQ under the call name YORW
- The Co has not missed paying out a dividend since it's inception! Think of the issues the country has lived through since that time - 2 World Wars; Great Depression; civil upheaval; pandemics; several recessions, etc.
- The Co has 106 employees of whom they are very proud and consider as family. In an effort to be as efficient as possible, they have used technology and training to keep the number of employees at a minimum no.
- The Co serves 39 municipalities in York Co and 9 in Adams Co. Over the years they have maintained an average 3% growth annually. Recent acquisitions include Felton and Jacobus. Amblebrook and West Mannheim Twp will added soon.
- Their average rate per customer with 4000 gal/mo usage is $510 per yr. This rate compares very favorably with almost any other water co.
- They are very proud that their legitimate complaints per 1000 customers is 0%
- For 2019 their Operating revenues totaled $51.6 million and their net income was $14.4 million
- Their efficiency ratio is 27.9
- In 2020 their construction expenditures are $29.5 M. They undergo construction on parts of the system annually. They replace 50,000 ft per yr of water mains.
During construction in downtown York they unearthed a section of wooden piping that was likely some of the original "piping" used in 1816. A piece is on display in their lobby.
JT is a wonderful spokesperson/cheerleader for the Co. He emphasized the continuous Co support of their employees, and the community.
NEXT WEEK'S PROGRAM - State Rep Torren Ecker - State Legislative Priorities after COVID 19