June 20, 2019
RTC annual meeting looks to future
By Jerry W. Kram
The “T” in RTC has been declining for several years now, but Reservation Telephone Cooperative has been growing over the last decade.
“We are now more of an Internet Service Company than a telephone company these days,” CEO and General Manager Shane Hart told 398 members at the meeting. “In fact, in the past year we just surpassed 10,000 Internet subscribers for the first time.”
A review of the cooperative’s finances showed revenue was up by $5.4 million to $45.7 million in 2018. Expenses increased by less than $600,000, the $36.4 million giving the co-op a net margin of $8.2 million. Hart said that was one of the co-op's best margins ever and allowed it to reduce its long term debt by nearly 7 percent.
“We are now more of an Internet Service Company than a telephone company these days,” CEO and General Manager Shane Hart told 398 members at the meeting. “In fact, in the past year we just surpassed 10,000 Internet subscribers for the first time.”
A review of the cooperative’s finances showed revenue was up by $5.4 million to $45.7 million in 2018. Expenses increased by less than $600,000, the $36.4 million giving the co-op a net margin of $8.2 million. Hart said that was one of the co-op's best margins ever and allowed it to reduce its long term debt by nearly 7 percent.
