(Canton, IL) -- Members of Spoon River Electric Cooperative were updated on the organization's financial condition, its system reliability, the results of the director election and pending regulations that could impact future power cost and supply during the 77th Annual Meeting that was held earlier this month. The annual meeting took place at Canton High School on Thursday, June 19th. President and CEO Bill Dodds said there's been no real growth at the co-op, but that it ended 2013 with net margins of $1,016.412. The cost of power represents more than 54-percent of the co-op's total expenses. During the meeting, Lyle Nelson of Abingdon, Greg Leigh of Avon and Jim Banks of Canton were re-elected to Spoon River Electric's Board of Directors. Three academic scholarship winners were also selected. They are Sarah Jones of Smithfield was given a Scholarship Award; Carli Miller of Lewistown was given the Scott Parrish Memorial Scholarship and Caitlin Suter of Avon was given the Honorary Scholarship. Spoon River Electric Cooperative serves more than 4,892 members in Fulton, Knox, McDonough, Peoria and Schuyler counties. The locally owned cooperative has 1,2676 miles of lines and a utility plant valued at more than $27.3 million.