Board Spotlight: Compliance Work Grows
A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, June 21, 2021, at the office of the Cooperative in Sikeston, Missouri. The following Directors were present: Richard Faulkner, Butch Dirnberger, Carl Eftink, Dennis Fowler, Myron Hawes, James Deneke, Carla Moore, Keith Haynes, Dicky Hanor, Tim Coppage, John Bledsoe, and Hamil Corse. Directors absent: none. Also present were Sean Vanslyke, CEO/General Manager; Megan Ray, General Counsel; and staff members Angie Byford, Amanda Burnett, Kristin Burton, Loyd Rice, Becky Ivester, Chris Freed, Marty Vineyard, Dannett Cooper, Ron Montgomery, and Brad Milam. The meeting was called to order at 12:25 p.m. by President Faulkner.
A prayer of invocation was offered by Ray. 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 May 13, 2021; new membership applications; membership cancellations; review of Policy 314, FEMA Contract Procurement; and review of Policy 401, Member Services Rebate.
Montgomery presented the monthly safety report and discussed the importance of following all safety procedures. Montgomery also discussed the results of a recent Federated Safety and Loss Prevention Assessment. In a follow up letter to the Cooperative, Steve Shaffer, safety and loss prevention consultant, said “you have established programs for safety and loss prevention and these programs address issues that are of concern to Federated.”
Burnett reviewed the financial summary for the month of May 2021 with revenue and expense analysis and budget comparisons. Compared to budget, year-to-date expenses are up 7.39%, revenue is up 2.82% and power costs are up 3.46%. Burton, senior accountant, gave the board an overview of the dozens of state and federal compliance reports the Cooperative is required to submit on a monthly, quarterly or annual basis for the Cooperative to offer fiber internet, TV and phone services to members.
Eftink reported on business from the M&A Electric Power Cooperative meeting. Items of interest included: safety, sales, reliability, construction and finances. Haynes reported on business from Association of Missouri Electric Cooperatives (AMEC). Items of interest included: recently passed legislation that will affect cooperatives.
Under old business the Board: reviewed its schedule of meetings; Policy 312, Application and Agreement for Interconnection and Net Metering Systems with Capacity of 100kw or less; and Policy 313, Identity Theft Prevention, was affirmed as presented. Under new business the Board reviewed and discussed known membership concerns; due to meeting conflicts, the board moved October’s board meeting to 8 a.m., Oct. 22, and November’s board meeting to 8 a.m., Nov. 19; certified Haynes to vote at AMEC’s meetings; and certified Hawes to vote at NRECA’s Regional Meeting.
The board heard staff reports and then the Board entered into Executive Session to discuss personnel matters. There being no further business to come before the Board, on motion made, seconded and passed, the meeting was adjourned.
