Business/Notable News June 2020

Professional Highlights From the Great Lakes Bay Region   District Awarded for Financial Reporting The Association of School Business Officials I…

Professional Highlights From the Great Lakes Bay Region

 

District Awarded for Financial Reporting

The Association of School Business Officials International has awarded Saginaw Intermediate School District the Certificate of Excellence in Financial Reporting. The association’s certificate recognizes districts that have met the program’s high standards for financial reporting and transparency. The school district earned the Certificate of Excellence for its Comprehensive Annual Financial Report for fiscal year 2019.

“The Certificate of Excellence’s mission is to promote and recognize excellence in financial reporting, specifically through a district’s (financial report),” association Executive Director David Lewis said. “The (report) informs stakeholders about the financial and economic state of the district, making it an important communications tool for building trust and engaging with the school community.”

By participating in the Certificate of Excellence program, school districts demonstrate their commitment to financial transparency. Applicants submit their financial report for review by a team of financial professionals, who provide feedback to improve future documents. If the financial report meets the requirements of the program, the document may receive the Certificate of Excellence. A district’s participation in the program can facilitate bond rating and continuing bond disclosure processes.

The Certificate of Excellence is sponsored by the association’s strategic partner, American Fidelity.

 

Hemlock Donates Items to Health Care Systems

Hemlock Semiconductor Corp., the nation’s largest producer of ultra-pure polysilicon, came to the aid of frontline workers at Covenant HealthCare in the midst of the COVID-19 crisis by scouring its supplies to locate and box up more than 15,000 masks, coveralls, gloves and other materials that health care workers could use.

“Everyone needs to be all in when it comes to helping our health care workers on the front lines dealing with COVID-19,” said Hemlock Semiconductor Chairman and CEO Mark Bassett. “We’re happy we can do our part by donating this personal protection equipment to help keep health care workers in the Great Lakes Bay Region safe and able to treat area residents during this public health crisis.”

The roundup of PPE supplies at Hemlock Semiconductor included checking supply cabinets throughout the sprawling industrial plant that employs 1,500 people to collect N95 and H95 masks. By the time the search was completed, three pallets of materials were ready to be loaded on a Covenant truck.

Covenant has four main campuses in and around Saginaw as well as other staff serving in 14 surrounding counties.

 

DCECU Distributes $200K to Relief Efforts

Dow Chemical Employees’ Credit Union committed $200,000 to organizations in several counties to support local relief efforts related to the COVID-19 pandemic.

The donation, which was authorized by DCECU’s board of directors, was distributed among the United Way of Bay County, United Way of Clare and Gladwin Counties, the Midland Area Community Foundation, and United Way of Saginaw County for use on a variety of COVID-19 relief initiatives at the discretion of each organization.

“It almost goes without saying that the coronavirus outbreak has placed tremendous strain on a great many people, businesses, organizations and governments everywhere,” said DCECU Chief Financial Officer Michael Goad, who will soon be the incoming president and CEO. “We feel a deep responsibility to our communities at all times — but especially in moments like this when the need is so significant and widespread.”

 

Savant Acquires Precision Machine Shop Excell

The Savant Group announced the acquisition of Excell LLC, a local manufacturing company of high-precision machine parts. Excell’s master journeymen and expert machinists provide a full range of machining services including computer numerical control milling, turning, and boring of both metal and plastic components.

With the acquisition, the Savant Group will consist of five companies: Savant Labs, Institute of Materials, Tannas Co., King Refrigeration and Excell Manufacturing Inc.

“We have long-respected the fine craftsmanship of the Excell team, and this acquisition is part of a long-term strategy to become more vertically integrated while expanding our product portfolio to better serve not only our current industries but other industries as well,” said Savant Group President Rebecca Cox.

Excell Manufacturing will retain all employees under the continued leadership of past owner Scott Johnson.

“We are very excited to join the Savant Group team and contribute to its continued success and growth,” said Johnson, who is now director of machining operations.

 

GMCA Awarded COVID-19 Response Grant

The staff and board of directors of the Greater Michigan Construction Academy announced it has received a $5,000 grant from the Midland Area Community Foundation and United Way of Midland County for operational expenses during the COVID-19 crisis.

“We appreciate the collaboration of the Midland Area Community Foundation and United Way of Midland County and the assistance they are providing to organizations at this unprecedented time,” said Stephanie Davis, president of the academy. “GMCA will use these funds for operational expenses as we are closed and cannot host fundraising events and special programs in addition to other activities that would bring in revenue.”

More than $148,000 in grants were awarded to 21 organizations to provide food, virtual counseling, educational programming, rent and utility assistance, well-being services, and support for employees in Midland County.

 

Arts Center, Rotary Host Blood Drive

Due to the COVID-19 pandemic, organizations like Versiti Blood Center of Michigan witnessed the cancellation of hundreds of blood drives. Midland Center for the Arts and the Midland Rotary Club stepped up to host a blood drive April 8 at Midland Center for the Arts.

“This partnership with Versiti Blood Center of Michigan will result in hundreds of lives being saved, thanks to the generosity of those able to donate,” said Terri Trotter, Midland Center for the Arts president and CEO. “We have an empty facility right now and are thrilled to be able to use our space to help provide this vital service. And we are grateful for the partnership of Rotary in helping to encourage blood donations.”

 

Michigan Sugar Announces Results from Annual Sugar Beet Slicing Campaign

Michigan Sugar Company this month wrapped up its 2019-2020 sugarbeet slicing campaign at its factories in Bay City, Caro, Croswell and Sebewaing.

This year’s campaign started in early September and wrapped up the week of April 5. Over the course of the campaign, Michigan Sugar sliced 4,108,522 tons of sugar beets and produced more than 1 billion pounds of sugar. Additionally, the company produced more than 158,000 tons of molasses and 122,000 tons of dry pulp products, both of which are sold as livestock feed.

“This campaign was challenging in that we got a late start last fall due to Mother Nature throwing our grower-owners some very difficult conditions in which to work,” said Michigan Sugar Co. Executive Vice President Jim Ruhlman. “Our growers did an amazing job getting our sugar beets out of the ground and delivering them for processing.”

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