Board Spotlight: 2023 Annual Meeting Set for May 18, Drive-Thru Event at Sikeston Jaycee Bootheel Rodeo Grounds

A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, February 20, 2023, at the offices of the Cooperative in Sikeston, Missouri. The meeting was called to order at 12:30 p.m. by President Richard Faulkner. The following Directors were present: Faulkner, Carl Eftink, Dennis Fowler, James Deneke, Keith Haynes, Dicky Hanor, Tim Coppage, John Bledsoe, Myron Hawes, Von Priggel, Carla Moore, and Field LaPlant. Directors absent: none. Also present were Sean Vanslyke, CEO/General Manager; and Megan McCord, Attorney for the Cooperative.

A prayer of invocation was offered by Hawes. The chair 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 16, 2023; new membership applications; membership cancellations; initial review of Policy 222, Use of Cooperative’s Vehicles, and initial review of Policy 223, Employee Travel. On motion made, seconded and passed, the actions required for each were approved by consent.

Vanslyke presented the monthly safety report. On motion made, seconded and passed, the Board resolved to accept the monthly safety report regarding the proper way to handle and store chemicals to prevent chemical exposure. He provided an update on the auditors being on site for the annual audit as well as Federated’s insurance renewal.

Vanslyke reviewed the preliminary financial summary for the month of January 2023 with revenue and expense analysis and budget comparisons. Compared to budget, year-to-date electric operating revenues are up 0.49%, expenses were up 9.26% due to multiple ice and snow responses, and power costs were down 1.53%

Eftink reported on business from the January and February M&A Electric (transmission) Power Cooperative board meetings. Items of interest included safety, finances, and reliability. Haynes reported on board business from the Association of Missouri Electric Cooperatives (AMEC). Items of interest included legislative and resolutions’ committee reports, and updates to the AMEC employee handbook.

Under old business the Board: reviewed its schedule of meetings and confirmed registrations for attendance; Policy 219, Out of Area Storm Pay, was affirmed as presented; and Policy 220, Employment and Reemployment Rights of Members of the Uniformed Services, was affirmed as presented.

Under new business the Board: reviewed and discussed district updates; President Faulkner called for nominations to appoint an M&A Board member. After discussion, on motion made, seconded, and passed, Director Bledsoe was appointed as the M&A Board member; Vanslyke advised the Board a nominating committee needed to be appointed for the 2023 Annual Meeting. After discussion, on motion made, seconded and passed, the Board resolved to appoint nine members to serve on the 2023 Nominating Committee; and Vanslyke advised the Board that a parliamentarian needed to be appointed for the annual meeting. After discussion, on motion made, seconded, and passed, the Board appointed Attorney McCord to serve as Parliamentarian for the 2023 annual meeting. The Nominating Committee will meet at 10 a.m., April 14 at Sikeston regarding the election of directors for SEMO Electric’s 2023 Annual Meeting to be held on May 18.

The Board reviewed written staff reports and the Team SEMO 360 video recap. The Board entered into Executive Session to discuss legal and personnel matters. There being no further business to come before the Board, on motion made, seconded and passed, the meeting was adjourned at 2:55 p.m.