PIERRE, S.D. (KELO) — An Omaha, Nebraska-based agricultural company has agreed to pay a $5,000 civil penalty to the South Dakota Public Utilities Commission.
The Scoular Company was accused of failing to immediately notify the commission last year that its quarterly balance sheet no longer showed current assets greater than current liabilities. That is required of South Dakota-licensed grain buyers.
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Scoular (pronounced ‘schooler’) and the commission’s grain-warehouse program reached a settlement agreement in February. The commission unanimously approved the agreement on Thursday.
The company has since returned to compliance by shifting some short-term debt into long-term debt, according to Scoular’s corporate controller, Nick Ketcham…