Economic News Outside Mainstream Media - What it Means for Cooperatives

Date: Thursday, April 29, 2010
Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenter(s): Russell Wasson, Director Tax, Finance & Accounting Policy - NRECA
Learning Objectives:
Upon the completion of this course, the participants will have an understanding of the nature of the global financial crisis of 2008-2009 and the potential impact upon the economy of the United States in future years.

Also, the participants will gain an understanding of the nature of the risk to sovereign credits as a result of the worldwide financial crisis and the impact upon future monetary policy in the United States and the implications for future financing costs for cooperatives.
Field of Study: Specialized Knowledge and Application
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

This course illustrates a number of financial and economic metrics which are not commonly reported in the mainstream media.

Discussion will cover the implications of the current state of the United States and global economy for cooperatives in the United States, particularly with regard to their banking relationships and the future cost of financing and the availability of credit and the functioning and possible reform of the debt, equity and derivatives markets.

Presenter and Moderator Bios
Russ Wasson, Director of Tax, Finance and Accounting Policy with the National Rural Electric Cooperative Association received his Bachelor of Science degree in accounting from the University of Arkansas at Little Rock in 1980 and after graduation went to work for Arthur Young & Co. in New Orleans. He became a CPA in Louisiana in 1980. After two years with Arthur Young, Russ went to work for Ernst & Whinney in Baton Rouge.

One year later, he was hired by his client, Cajun Electric Power Cooperative, as their first tax manager. Russ worked at Cajun from 1983 until their assets were sold to an affiliate of XCEL Energy of Minneapolis in 2000. At the time of his promotion to Vice President and Corporate Controller, Russ had forty four individuals in his division. At the conclusion of the Cajun bankruptcy, his division had decreased to a total staff of twenty one.

Rather than go to work for NRG, the entity that acquired the Cajun assets, Russ started a consulting firm that provided consulting services to cooperatives and an RTO. He eventually went into partnership with Tom Strait. Russ and Tom provided consulting services to cooperatives as well as other nonpublic utilities. In 2001, Russ began teaching at Penn State’s Advanced School of Power Engineering.

Russ started at NRECA on January 10, 2005. In addition to his tax, accounting and finance duties at NRECA, Russ is a member of the NRECA restructure and renewables groups, the NRECA corporate governance task force, the NRECA climate change task force and occasionally devotes time to proceedings at the FERC.

In addition, Russ is participating in the Financial Accounting Foundation strategic focus group on the future direction of the FASB. Russ and his wife Diane are the proud parents of two daughters that live in Florida and New York.

Cost
$56.00 for NSAC Members / $70.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#103068) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

Ideal for multiple attendees.
Use a speakerphone and projector/monitor and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.