Board Spotlight: Board Reviews Plan for May 11 Annual Meeting

A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, February 17, 2020, at the offices of the Cooperative in Sikeston, Missouri. The meeting was called to order by President Rick Faulkner. The following Directors were present: Faulkner, John Bledsoe, Tim Coppage, Butch Dirnberger, Carl Eftink, Dennis Fowler, Myron Hawes, James Deneke, Carla Moore, Keith Haynes and Dicky Hanor. Absent was Hamil Corse. Also present were Sean Vanslyke, CEO/General Manager; Megan Ray, General Counsel; staff members, Chris Freed, Ron Montgomery and Marty Vineyard.

Faulkner asked for approval of the agenda. On motion, made, seconded and passed, the agenda was approved. The Board considered its consent agenda consisting of: the minutes of the regular meeting of January 20, 2020; new membership applications; membership cancellations; initial review of Employee Policies 208 and 209. On motion made, seconded and passed, the actions required for each were approved by consent. Montgomery presented the monthly safety report with the focus on fire prevention. Vanslyke reviewed the financial summary for the month of January with revenue and expense analysis and budget comparisons. For January, year-to-date electric operating revenue was down 5.95%, compared to budget, down 1.19% compared to 2019. Year-to-date operating expenses were down 2.27%, compared to budget, up 17.90% compared to 2019. Year-to-date cost of power was down 4.43% compared to budget, down 4.57% compared to 2019. Eftink reported his attendance to the meeting of M&A. Items of interest included: safety; reliability; and finances. Haynes reported on the AMEC legislative conference and Board meeting. Items of interest included an AECI update.

Under old business the following items were discussed: schedule of meetings and confirmed registrations for attendance; employees and directors reported their attendance to various meetings over the past month; Employee Policy 205 and 206 were affirmed as presented. Under new business the following items were discussed: known issues in the Cooperative’s service area; Team SEMO member, Dannett Cooper, updated the Board on plans for the Annual Meeting of Members; the Board resolved to appoint Cooperative Counsel, Ray, as Parliamentarian of the 2020 Annual Meeting of Members and further resolved that all rulings of the Parliamentarian, whether procedural or substantive, shall be final. The annual meeting will be held on May 11 at the Miner Convention Center. Doors will open at 5 p.m. for music by Brothers Walker. The business meeting will begin at 7 p.m.

Freed provided a subscriber update and an update on GoSEMO Fiber construction. Vanslyke reported on SEMO 360 activities. The Board reviewed written staff reports while department leaders were present to supplement their reports and to answer questions. The Board then entered into Executive Session. Following Executive Session, there being no further business to come before the Board, the meeting was adjourned.