Board Spotlight: Board Visits GoSEMO Fiber Office at Puxico
A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, January 15, 2024, at the office of the Cooperative in Bloomfield, Missouri. The meeting was called to order at 12:25 p.m. by President Rick Faulkner. The following Directors were present: Faulkner, James Deneke, Carl Eftink, John Bledsoe, Myron Hawes, Tim Coppage, Field LaPlant, Carla Moore, Dicky Hanor, Dennis Fowler Keith Haynes, and Von Priggel. Directors absent: none. Also present were Sean Vanslyke, CEO/General Manager; Megan McCord, Attorney for the Cooperative; and staff members Angie Byford, Jared Kelley, Amanda Burnett, Chris Freed, Becky Ivester, and Brad Milam. A prayer of invocation was offered by Hawes. The chair asked for approval of the agenda. On motion made, and passed, the agenda was approved.
The Board considered its consent agenda consisting of: the minutes of the regular meeting of December 18, 2023; the minutes of new membership applications; membership cancellations; initial review of Policy 312 – Interconnection and Net Metering, and initial review of Policy 313 – Identity Theft. Jared Kelley presented the monthly safety report and shared information on the monthly safety focus about staying hydrated in the winter. During the winter months, the air tends to be drier, and people often experience dehydration without realizing it.
Under old business, the Board reviewed its schedule of meetings and confirmed registrations for attendance. Due to conflicts, the Board tentatively scheduled the regular May Board meeting on May 17; approved Policy 310 – Indemnification, and initial review of Policy 311 – Record Retention. Under new business, the Board reviewed and discussed district updates; CEO Vanslyke presented the slate of nominating committee members, reviewed the 2024 Annual Meeting (set for May 16) timeline and presented information on the recent request for contributions to NRECAPAC/AMECPAC and directors made individual pledges.
Burnett reviewed the financial summary for the month of December 2023 with revenue and expense analysis and budget comparisons. Compared to the budget, year-to-date revenue is down 0.79%, expenses are up 7.57%, and power costs are up 3.32%. On motion made, seconded, and passed, the Board accepted the financial report.
Eftink reported on the M&A Electric (Transmission) Power Cooperative board meeting. Items of interest included: margins, Associated Electric Cooperative, Inc. (AECI) update, and reliability. Haynes reported on business from the Association of Missouri Electric Cooperatives’ (AMEC) board meeting. Items of interest included: committee updates, directors’ conference.
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 4:35 p.m.
