The Cotton Board voted to recommend Cotton Incorporated’s proposed 2015 budget of $80 million to the Secretary of Agriculture, during the organization’s recent annual meeting in Durham, NC.
Cotton Incorporated was funded at the same level last year. While the proposed budget remained flat, it reflects many of the recommendations developed in March by The Cotton Board.
J. Berrye Worsham, president and CEO of Cotton Incorporated, highlighted the company’s key initiatives for 2015, saying ” We have a renewed focus on improving cotton’s environmental footprint throughout the supply chain, increasing our speed-to-market with new projects and programs, developing call-to-action messaging that makes the ‘case for cotton’ to consumers and industry, and finally maximizing producer profitability through research and innovation.”
Lisa Droke, Cotton Board senior vice president of Finance and Administration, noted that maintaining current funding levels may require a draw on reserves. But, she added, a higher crop forecast also improves the Board’s overall income projections and future financial health.
The budget and plan, along with The Cotton Board’s recommendation of approval, will be forwarded to the United States Department of Agriculture for final approval.
During the meeting, The Cotton Board also elected new officers for the 2014/15 Program year:
- Chairman – David Grant, producer from Garysburg, NC
- Vice-Chair – Aaron Barcellos, producer from Los Banos, CA
- Secretary – Janet Ydavoy, importer from Yardley, PA
- Treasurer – George LaCour, producer from Morganza, LA.
Source – The Cotton Board