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SECO News, March 2020

 

Duncan’s Digest – SECO Energy’s 82nd Annual Meeting

 

Our 82nd Annual Meeting is Saturday, March 28, at 293 S. US Highway 301 in Sumterville. Registration opens at 8 a.m. and the Business Meeting begins at 10:30 a.m. The live prize drawing is held after the Business Meeting and wraps up around noon.

May 2018 SECO News Duncan's Digest

 

Even if you can’t attend, there are ways to win this year. All members are invited to vote on Annual Meeting business in advance. On the SECO Energy homepage, click on the VOTE banner and cast your vote prior to Thursday, March 26 at 5 p.m. for a chance to win a golf cart, gift cards, bill credits, tools, Nest thermostats, Apple TVs, air fryers, Instapots, Ring doorbells and other great prizes. See the complete prize list on page four.

 

If you do attend the March 28 meeting, you’ll enjoy a light breakfast and entertainment by Margo Rochelle & Rodeo Drive Band. Each registered member will receive our 2019 Annual Report, a special gift and an LED from our wholesale power provider Seminole Electric Cooperative.

 

This year, there are three ways to win. Members who attend the Annual Meeting are eligible for the door prize drawing that begins at the conclusion of the Business Meeting. If you RSVP online and attend the Meeting, you are entered into a drawing for a $300 bill credit. And again, there are great prizes for members who vote on Annual Meeting business by mail or online before March 26 at 5 p.m. Attendance is NOT required to win.

 

The grand prizes for Annual Meeting attendees are a refurbished 2010 Chevy Colorado 4X4, an electric golf cart, four cash prizes, bill credits, Kindles, Apple TVs, Ring doorbells, air fryers, Instapots and more. Turn to page four for a list of all prizes.

 

Even if you RSVP and vote in advance, you must register upon entrance to receive your ticket set for breakfast, gifts and the door prize drawing. For speedy registration, bring a copy of your bill. Photo ID is required. The prize ticket barrels are located just after Registration Tents. The map on the next page clearly marks the Stations.

 

Visit the Energy Showcase to learn more about energy efficiency, talk with energy-efficiency vendors and stop by Station 4 in the same tent for your free LED. Enjoy live music under the Pavilion and find a dance partner. Visit our electric vehicle (EV) show behind the Energy Showcase tent. EVs include brands like Tesla, Porsche, BMW, Chevy, Nissan, Honda and more.

 

You’ll find a variety of seating areas with sound and screens. We accommodate 3,600 in the covered Pavilion and another 2,000 in the grass areas. Picnic and high-top tables are first-come, first-served. You are welcome to bring your own picnic blankets or folding chairs.

 

To vote electronically and/or RSVP, click on the homepage banner. Follow the instructions to view and vote on the Board-recommended Bylaws Revision and the 2019 Annual Meeting Minutes.

 

To vote and/or RSVP by mail, follow the instructions in the Official Annual Meeting Notice included with billing statements mailed February 14 through March 13. You can drop off your ballot at a Member Service Center or enclose with your payment. To be counted for advance voting, all mail and electronic votes must be received by 5 p.m. on Thursday, March 26.

 

Don’t forget to “like” SECO Energy’s Facebook page and post a selfie during the event. All members who interact on Facebook during the meeting are entered into a drawing to win a $300 SECO bill credit. You must be present during the live door prize drawing to win.

 

On behalf of myself, the Board of Trustees and all SECO employees, we look forward to hosting our 82nd Annual Meeting on March 28 and seeing you there.

 

Sincerely,

 

Jim Duncan

Chief Executive Officer

 

Read the full 2020 March SECO News online.

SECO Energy District 4 Members Re-elect Trustee Richard Dennison

SECO Energy members residing in District 4 re-elected incumbent Trustee Richard Dennison. A large crowd of District 4 members gathered at the Marion Oaks Community Center on February 20 to elect a Trustee to represent their District on SECO’s Board of Trustees. Mr. Dennison currently holds an officer position on the Board as Vice President.

 

SECO Energy is a not-for-profit electric cooperative, operated for and owned by its members. SECO members who reside in the District elect one of their fellow members to serve on SECO’s nine-member Board of Trustees. SECO Energy CEO Jim Duncan stated, “Collectively, the Board represents the SECO membership, meeting monthly to monitor the financial status of the cooperative while providing fiduciary oversight and participating in policy decisions that serve the best interests of the members at large.”

 

Mr. Dennison declared his willingness to serve the members of District 4 by submitting his letter of intent to run for Trustee. Elected Trustees serve a three-year term. A SECO member since 1999, Trustee Dennison lives in Ocala and was first elected to the Board in 2015. Mr. Dennison ran unopposed and even though Mr. Dennison was the only candidate, the Bylaws require that SECO hold a District Meeting. Subsequently, Florida Statute requires SECO to hold in-person elections.

 

Trustee Dennison stated, “I began my campaign months ago and am grateful for the members in District 4 who came out today and voted to re-elect me as the District 4 Trustee. It is truly an honor that my fellow members have continued to place their faith in me. I want you to know it is a pleasure to work in this role at SECO because we all get along for the good of the cooperative. The Board members, the senior management and the employees of this well-run company make this work fulfilling.”

 

President Jerry Hatfield stated, “Congratulations, Mr. Dennison on your re-election as District 4 Trustee. On behalf of my fellow Board officers and peers, we look forward to continue working with you.”

 

CEO Jim Duncan stated, “I would like to thank the members of District 4 for engaging with SECO in the democratic process to elect a Trustee to represent your District. Congratulations Mr. Dennison on re-election as District 4 Trustee. I appreciate your community-minded enthusiasm and your dedication to your fellow members.”

 

Visit our Board of Trustees page to view a photo and brief bio of SECO’s Trustees along with a District Map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy Trustees Maintain Director Gold Credentials

SECO Energy congratulates five members of its Board of Trustees who have completed the necessary coursework to maintain their Director Gold Credentials from the National Rural Electric Cooperative Association (NRECA). The five Trustees are: Board President and District 9 Trustee Jerry Hatfield; Board Secretary/Treasurer and District 8 Trustee William James; District 2 Trustee Dillard Boyatt; District 5 Trustee Ray Vick; and District 6 Trustee Earl Muffett.

 

To earn Director Gold, Trustees must first complete the Credentialed Cooperative Director (CCD) and the Board Leadership Certificate (BLC). The Director Gold Credential Program (DGC) offers Trustees and Directors the opportunity to enhance their education to better support their cooperatives. Trustees Hatfield, James, Boyatt, Vick and Muffett earned their Director Gold Credentials and continued to attend courses through the NRECA to maintain their Director Gold status.

 

SECO Energy’s service area is geographically divided into nine Districts. Members in each District elect one member from the District to represent the District on SECO’s Board of Trustees and the membership at large. Trustees are elected to oversee the governance of the cooperative.

 

CEO Jim Duncan stated, “Congratulations, gentlemen, on continuing your Trustee education through the NRECA. Our Board of Trustees is an active, engaged group who has assisted SECO during times of high member satisfaction and improved reliability. Thank you, gentlemen, for your commitment to SECO members and your communities through your Board service.”

 

Visit our Board of Trustees page to view a short bio of SECO Energy’s Trustees and a District Map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy District 2 Members Elect Joyce Anderson as New Trustee

SECO Energy members residing in District 2 elected Joyce Anderson as their new Trustee. District 2 members gathered at the Sumter County School Board building on February 11 to elect a Trustee to represent their District on SECO’s Board of Trustees. Ms. Anderson lives in Sumterville and is the first woman to be elected to the SECO Energy Board of Trustees.

 

SECO Energy is a not-for-profit electric cooperative, operated for and owned by its members. SECO members who reside in the District elect one of their fellow members to serve on SECO’s nine-member Board of Trustees. SECO Energy CEO Jim Duncan stated, “Collectively, the Board represents the SECO membership, meeting monthly to monitor the financial status of the cooperative while providing fiduciary oversight and participating in policy decisions that serve the best interests of the members at large.”

 

Along with Ms. Joyce C. Anderson of Sumterville; from The Villages Mr. John F. Baileys; Mr. Joe W. Elliott; Mr. Peter N. Hill; Mr. Neil R. Hoffman; Mr. Lee R. Linn; and Mr. Dale J. Williams declared their willingness to serve the members of District 2 by submitting their letter of intent to run for Trustee. Elected Trustees serve a three-year term. Trustee-elect Anderson will attend her first official Board of Trustees’ meeting on Monday, March 30.

 

Trustee-elect Anderson stated, “I am excited and honored to serve as a SECO Energy Trustee, and proud to be the first woman elected to the Board. I greatly appreciate the support of my fellow District 2 members. SECO members and continued member satisfaction will be my highest priority.”

 

President Jerry Hatfield stated, “Congratulations, Ms. Anderson on your election as District 2 Trustee. On behalf of my fellow Board officers and peers, we welcome you and look forward to working with you.”

 

CEO Jim Duncan stated, “Congratulations Ms. Anderson on your election as District 2 Trustee. Thank you to the members in District 2 who assembled to democratically elect your new Trustee to represent your District on the Board. In District 2, a total of seven candidates expressed a willingness to serve their fellow members and the membership at large.”

 

Duncan continued, “Thank you Mr. Baileys, Mr. Elliott, Mr. Hill, Mr. Hoffman, Mr. Linn and Mr. Williams for your interest. It is truly amazing to have seven candidates eager to be of service to their cooperative and our members.”

 

Visit our Board of Trustees page to view a photo and brief bio of SECO’s Trustees along with a District Map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy District 6 Members Elect Michael E. Muffett as New Trustee

SECO Energy members voted to elect Mr. Michael E. Muffett as their new District 6 Trustee. District 6 members gathered at the Village View Community Church on February 4 to elect a Trustee to represent their District on SECO’s Board. Mr. Muffett lives in Summerfield and has been a SECO member for over 35 years.

 

SECO Energy is a not-for-profit electric cooperative, operated for and owned by its members. SECO members who reside in the District elect one of their fellow members to serve on SECO’s nine-member Board of Trustees. SECO Energy CEO Jim Duncan stated, “Collectively, the Board represents the SECO membership, meeting monthly to monitor the financial status of the cooperative while providing fiduciary oversight and participating in policy decisions that serve the best interests of the members at large.”

 

Along with Mr. Michael E. Muffett, Mr. Tom Ford and Mr. Mark L. Wade from Summerfield declared their willingness to serve the members of District 6 by submitting their letter of intent to run for Trustee. Elected Trustees serve a three-year term. Trustee-elect Muffett will attend his first official Board of Trustees’ meeting on Monday, March 30.

 

Trustee-elect Mr. Muffett is looking forward to his Board service. Mr. Muffett stated, “First, I want to thank the members for attending last night’s District 6 Meeting and thank you to my fellow candidates who were prepared to serve our fellow District 6 members of SECO’s Board. I am excited to begin my Board service and eager to use this opportunity to expand my service to our local communities.”

 

President Jerry Hatfield stated, “Congratulations, Mr. Muffett, on your election as District 6 Trustee. On behalf of my fellow Board officers and peers, we welcome you and look forward to working with you.”

 

CEO Jim Duncan stated, “Thank you District 6 members for gathering this evening to elect your new Trustee. Congratulations, Trustee-elect Muffett, on your election as District 6 Trustee. I would also like to thank Mr. Ford and Mr. Wade for their interest to serve as District 6 Trustee and the membership at large.”

 

View a photo and brief bio of SECO’s Trustees along with a District Map online. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy Trustee Joseph Kusiak Earns NRECA Board Certificates

SECO Energy District 7 Trustee Joseph Kusiak has completed two cooperative-focused board certifications from the National Rural Electric Cooperative Association (NRECA). Mr. Kusiak completed the courses required to earn both the Credentialed Cooperative Director (CCD) and the Board Leadership Certificate (BLC).

 

The NRECA’s CCD is the first certificate in a three-part education program for Board of Trustee members of Directors of an electric cooperative. The courses encompassed in the CCD curriculum prepare Trustees to fulfill their fiduciary duty as elected officials who serve on behalf of the cooperative’s members.

 

Trustee Kusiak also earned the BLC, the second part of NRECA’s Board of Trustees Director curriculum. The BLC courses focus on specific industry and governance issues that directly affect electric cooperatives today. Lessons focus on risk management, power supply, parliamentary procedure, technology and policy development.

 

Mr. Kusiak resides in Dunnellon and has been a SECO member since 2002. He was elected to serve as District 7 Trustee in a special election to fill a Board vacancy on October 25, 2018.

 

Trustee Kusiak stated, “I am honored to continue my professional development by completing the CCD and BLC courses offered through the NRECA. This knowledge will help me in my role serving as the District 7 representative on SECO Energy’s Board of Trustees. I appreciate the trust my fellow members have placed in me.”

 

CEO Jim Duncan stated, “Congratulations, Mr. Kusiak, for completing the Board certificate courses to advance your knowledge of the energy industry. SECO Energy is grateful for your time and dedication to serve the cooperative’s membership through your Board service. Thank you.”

 

Learn more about SECO Energy’s Board of Trustees and read a short bio about Joseph Kusiak. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy District 3 Trustee Gerald Anderson Earns NRECA Certificate

SECO Energy congratulates District 3 Trustee Gerald Anderson who has completed the requirements to earn the Credentialed Cooperative Director (CCD) certificate from the National Rural Electric Cooperative Association (NRECA).

 

The CCD is the first of a three-part certificate program offered by the NRECA for Board of Trustee members or Directors. Participants complete courses on director duties and liabilities, understanding the electric business, board operations and processes, strategic planning and financial decision making. The courses encompassed in the CCD curriculum prepare Trustees to fulfill their fiduciary duty as elected officials who serve on behalf of the cooperative’s members.

 

Mr. Anderson has been a SECO member for five years and resides in The Villages. He was elected to represent the members of District 3 at a special election to fill a Board vacancy on May 13, 2019.

 

Trustee Anderson stated, “I am pleased to continue my education through the NRECA’s Director Certificate Program. The lessons I’ve learned help me to sharpen my skills in the energy industry. I look forward to continuing as the District 3 Trustee to represent my fellow SECO members.”

 

CEO Jim Duncan stated, “Congratulations, Mr. Anderson, on completing your Credentialed Cooperative Director certificate. I am grateful for your commitment to SECO members through your service on the SECO Board of Trustees. Thank you.”

 

Learn more about SECO Energy’s Board of Trustees and read a short bio about Gerald Anderson. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy Returns $3.5 Million to Current and Former Members

Just in time for the holiday season, SECO Energy’s Board of Trustees approved a Capital Credits return (retirement) of $3.5 million to current and former members. Since SECO Energy was founded in 1938 as Sumter Electric Cooperative, Inc., the cooperative has retired more than $66.8 million to current and former members.

 

SECO Energy is a not-for-profit electric utility. As such, SECO’s almost 210,000 members own a portion of the cooperative’s equity and their energy purchases build patronage capital. Ownership is defined through the annual process of allocating each member’s share of the co-op’s margins from the prior year. The annual amounts for each member who purchases electric service during the year are referred to as Capital Credit allocations.

 

Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses are paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as Capital Credits. Annually, SECO examines the financial position of the cooperative and makes a recommendation to the Board of Trustees on the “retirement” of Capital Credits.

 

CEO Jim Duncan stated, “This year’s Capital Credits retirement of $3.5 million means that a portion of the cooperative’s equity is being returned to current and former members. Each current member who receives a 2019 Capital Credits retirement will see the retirement amount on the November billing statement listed as a line item. Commercial members with retirements over $1,000 will receive a check.”

 

Current members will find their retirement on the November billing statement a on line item labeled “Gen. Ret. Credit.” Former members receiving a retirement will be mailed a check. Former members should update their current address with the cooperative to receive future Capital Credits returns.

 

This year’s $3.5 million Capital Credits retirement is a lower number than in years past. The cost of delivering power to new members, constructing new facilities to meet new members’ demand for power and maintaining existing infrastructure is rising faster than SECO’s revenues.

 

To learn more about Capital Credits online. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO News, November 2019

Money doesn’t grow on trees and pigs don’t fly, but you can take your Capital Credits return to the bank. This month, SECO Energy is making you and your wallet a little happier. During its October meeting, SECO’s Board of Trustees approved a Capital Credits return (retirement) of $3.5 million to current and former members. Look for your 2019 Capital Credits retirement on your November bill just in time for the holiday season.

 

May 2018 SECO News Duncan's Digest

 

As a member of a not-for-profit electric utility, you along with your fellow 200,000+ SECO members own a portion of the cooperative’s equity. Your membership brings home the bacon through energy purchases that build patronage capital. Ownership is defined through the annual process of allocating each member’s share of the co-op’s margins from the prior year. The annual amounts for each member who purchases electric service during the year are referred to as Capital Credit allocations.

 

Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses are paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as Capital Credits. Annually, SECO examines the financial position of the cooperative and makes a recommendation to the Board of Trustees on the “retirement” of Capital Credits. This year’s $3.5 million retirement means that a portion of the cooperative’s equity is being returned to current and former members. That number is a lower retirement than in years past, as the cost of delivering power to new members and maintaining our existing infrastructure is rising faster than our revenue.

 

Each current member who receives a 2019 Capital Credits retirement will see the retirement amount on the November billing statement listed as a line item labeled “Capital Credits Ret.” Commercial members with retirements over $1,000 will receive a check. If you move out of SECO’s service area, keep your mailing address updated so we can send future Capital Credit retirements your way.

 

SECO Energy was founded as Sumter Electric Cooperative, Inc. in 1938 and has retired more than $66.8 million to current and former members as a tangible benefit of the cooperative business model.

 

Sincerely,

 

Jim Duncan

Chief Executive Officer

 


 

Making a Difference at Christmas with Toys for Tots

 

SECO Energy and its ever-generous employees support the Marine Toys for Tots drives in the communities we serve. SECO’s five Member Service Centers in Eustis, Groveland, Inverness, Ocala and Sumterville are available as public drop-off locations for Toys for Tots.

 

This year, members can partner with SECO Energy to bring a smile to a child on Christmas day. Visit a Member Service Center to drop off new, unwrapped toys for the Toys for Tots donation box. Toys are collected by local Toys for Tots volunteers in each county and donated locally.

 

Toys for Tots is a top-rated charity. Since 1947, its mission is to deliver toys, books and other gifts to less fortunate children. Over 97% of cash donations directly support that mission. The remaining 3% is spent on fundraising expenses. No donation dollars are spent on salaries or other manpower. Toys for Tots volunteers collect and deliver the donations received. You can donate to Toys for Tots with confidence that your donation will go straight into the hands of a local child.

 

In 2018, SECO employees donated more than a hundred bicycles and tricycles, as well as hundreds of toys to make a difference in the lives of local children who live in the communities we serve.

 

Learn more about the Marine Toys for Tots Program online. Find a SECO Energy Member Service Center.

 


Surge MitiGator November 2019

Protect your home from power surges by investing in SECO Energy’s Surge MitiGator™. Power surges are sudden, powerful increases in voltage that can damage or destroy your household appliances and electronics. Surges are caused by lightning, trees, small animals, birds and vehicle accidents involving energized facilities.

 

SECO’s Surge MitiGator™ is “Made in the USA” and is built to chomp down on surges and spikes. The MitiGator™ is available for just a few cents per day at a lease rate of $5.95 per month, plus tax, conveniently added to your monthly bill. Installation for standard residential 200-amp service is $25. For residential services greater than 200-amps installation is $100.

 

You can opt to purchase the product for $349 to $399 plus tax. The installation fee is waived when purchasing the MitiGator™.

 

The Surge MitiGator™ is an arrestor that is installed behind the meter. Your protection against surges and spikes begins at the meter but SECO encourages members to plug all sensitive electronics into point-of-use surge protection devices. Point-of-use devices can be purchased at your local hardware or big-box store.

 

Visit our Surge MitiGator™ page today to enroll and to learn more about how you can protect your home’s appliances from surges.

 


Fall for Energy Efficiency November 2019 SECO News

According to the Old Farmer’s Almanac, November and December temperatures will average in the mid-60s. Winter is forecast to be mild with the coldest temperatures arriving in February. A well-functioning HVAC runs more efficiently and helps you lower your energy use when cooling or heating your home.

 

Inspecting your HVAC system is not a do-it-yourself job. Hire an experienced, licensed HVAC technician to test the unit’s voltage and electrical components. The tech should also lubricate moving parts, check the filter, measure refrigerant pressure, check electrical connections and test the safety controls. Ensure the tech inspects the drain system, tests the thermostat settings, airflow and more if your unit is problematic. Buyer beware – do your homework, obtain three quotes for the inspection service, read Google reviews and Better Business Bureau reviews. Most important if the price sounds too good to be true it probably is.

 

Change your air filter according to the HVAC manufacturer’s schedule or once a month. A clean air filter is the first step in helping your HVAC run efficiently.

 

Don’t leave energy efficiency out in the cold. Schedule an HVAC inspection with a qualified technician before the temperature drops. Preventative maintenance on your system will allow you to enjoy the winter weather from the comfort of your home and save you from the shock of a high repair bill.

 

Read the full November 2019 SECO News online.

CEO Jim Duncan Celebrates 40 Years with SECO Energy

CEO Jim Duncan is celebrating 40 years with SECO Energy. On June 10, 1979, Duncan joined SECO (then referred to as Sumter Electric Cooperative, Inc.) in the position of Director of Accounting and Finance. He held this position until March of 1990 when he accepted the position of Chief Executive Officer (CEO). As the leader of a not-for-profit utility, Duncan’s priorities focus on maintaining affordable, reliable service for the cooperative’s member-owners.

 

Over the years, Duncan has seen a lot of positive change, tremendous economic growth and vast system expansion. In 1990 before Duncan became CEO, the cooperative served 66,600 members. Today it provides service to more than 205,000 homes and businesses. Revenue has grown from $74.4 million to $293.7 million. Total utility plant has increased from $143.5 million to $878.7 million. Member equity has matured from 22 percent to 31 percent. The co-op regularly retires capital credits to members with a $5.5 million retirement last year and a $63.3 million returned since inception.

 

Duncan is humble about his role in leading the cooperative through some tough times and building the organization’s financial strength. He stated, “Our Board of Trustees are the people who are ultimately tasked with reviewing and approving budgets that keep our cooperative fiscally healthy. I credit the Trustees with exercising sound judgement and responsible governance over the years that has allowed SECO to become the third largest cooperative in Florida and the seventh largest in the nation.”

 

Another of Duncan’s key accomplishments is the significant reduction in outage duration for members. In 1989, members experienced 348 minutes of average outage time annually. Today, that number is only 66 minutes. Duncan attributes the improvement to the development of a robust vegetation management program, system improvement projects that increase reliability, a comprehensive storm hardening program and a workforce that cares deeply about its member-owners’ satisfaction. Duncan states, “Our current senior staff deserves the recognition for ensuring that the delivery of electric service is safe, affordable and reliable and that our members receive the highest level of customer service in the industry.”

 

Surveys show that SECO Energy members are very satisfied with SECO Energy. In 2018, members again rated the not-for-profit electric cooperative top in customer satisfaction. SECO received an outstanding ACSI score of 89. When comparing SECO to the ACSI Utility Sector scores SECO is a clear national frontrunner. Nationally, cooperative utilities scored a 77 in 2018. Scores for municipal and investor-owned utilities were both slightly lower at 75.

 

Members also rank SECO high in J.D. Power surveys as well. In 2015, SECO Energy was ranked highest in satisfaction among mid-sized utilities in the south, and in 2016 and 2017, SECO was ranked highest in satisfaction among cooperatives nationally.

 

Visit About SECO to learn more about the cooperative’s history. Like SECO Energy on Facebook and Twitter to stay up-to-date on company news, to play trivia and to enter prize drawings.