Board Spotlight: Angela, Ben, Dannett, Vickie Give Insights
A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, August 21, 2023, at the office of the Cooperative in Sikeston, Missouri. The meeting was called to order at 9:35 a.m. by President Richard Faulkner. The following directors were present: Faulkner, Dennis Fowler, James Deneke, Dicky Hanor, John Bledsoe, Myron Hawes, Carla Moore, Keith Haynes and Von Priggel. Directors absent: Carl Eftink, Tim Coppage, and Field LaPlant. Also present were Sean Vanslyke, CEO/General Manager; Megan McCord, Attorney for the Cooperative; and staff members Angie Byford, Loyd Rice, Becky Ivester, Jared Kelley, Amanda Burnett, Nathan Hull, Brad Milam, Cole Nichols, and Austin White. A prayer of invocation was offered by Vanslyke. The chair asked for approval of the agenda. On motion made, seconded and passed, the agenda was approved.
Hull provided an overview of the process used by GoSEMO Fiber when it receives a new request for services. Burnett reviewed a breakdown of the cost of building new services. Allen Schulte, the cooperative’s auditor, joined the meeting via teleconference and provided information on the 2022 capital credit allocation. Staff members introduced new employees Nichols and White. Employees Angela Bennett, Ben Campbell and Dannett Cooper presented information to the Board on their respective job duties in five minute sessions called "What I Do!"
The Board considered its consent agenda consisting of: the minutes of the regular meeting of July 17, 2023; the minutes of new membership applications; membership cancellations; initial review of Policy 301 – OSHA Hazard Communications, and initial review of Policy 302 – Cooperative Funds. Montgomery presented the monthly safety report and shared information on the monthly safety focus about canceling clutter calamity. Statistics show that good housekeeping promotes safety, health production and morale.
Under old business, the Board reviewed its schedule of meetings; approved Policy 232– Educational Assistance Program, and Policy 233 – Employee Business Ethics. Under new business, the Board reviewed and discussed district updates; reviewed registration and expense data for the 2023 annual meeting and discussed plans for the 2024 meeting; and adopted Policy 424 – Anti Money Laundering (AML).
The Board reviewed a strategic planning governance training video from NRECA. Milam reported on M&A’s construction plans for a New Hamburg substation. Burnett reviewed the financial summary for the month of July 2023 with revenue and expense analysis and budget comparisons. Compared to the budget, year-to-date revenue is up 1.51%, expenses are down 6.75%, and power costs are up 5.23%. On motion made, seconded, and passed, the Board accepted the financial report.
Bledsoe reported on business from two monthly M&A Electric (Transmission) Power Cooperative’s meetings. Items of interest included load, construction, reliability and generation. Haynes reported on business from the Association of Missouri Electric Cooperatives’ (AMEC) board meeting. Items of interest included the NRECA director election, committee reports, meeting with Missouri State Treasurer and Associated Electric Cooperative, Inc. (AECI) update.
Department leaders presented strategic updates and answered questions from the Board. The Board entered into Executive Session to discuss legal and personnel matters. The remaining staff members were excused from the meeting. There being no further business the meeting was adjourned at 3:42 p.m.
