Board Spotlight: Permanent Drive-Thru for Sikeston, Project for Member Convenience Underway
A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, March 21, 2022, 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, Tim Coppage, and Hamil Corse. Directors absent: John Bledsoe and Dicky Hanor. Also present were Sean Vanslyke, CEO/General Manager; Megan Ray, Attorney for the Cooperative; Allen Schulte, of Botz, Deal & Company; Steven Austin, controller of M&A Electric Power Cooperative; and staff members Loyd Rice, Angie Byford, Chris Freed, Brad Milam, Marty Vineyard, Dannett Cooper, Becky Ivester, Ron Montgomery and Kristin Burton. A prayer of invocation was offered by Eftink.
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 February 21, 2021; new membership applications; membership cancellations; initial review of Policy 101, Policy Origin and Approval by Directors; and initial review of Policy 102, Duties, Authority, Responsibility of Directors. Montgomery presented the monthly safety report. Plus, he shared information on the monthly safety focus of electrical fire safety for appliances, outlets, extension cords, power strips and surge protectors. He said more information is available at usfa.fema.gov/prevention/outreach. Following his report, Montgomery left the meeting.
Austin conducted a review of SEMO’s power bill and the net metering calculation for non-standard generation. The Cooperative receives a monthly bill for electricity generation and transmission from M&A. February's bill was $1.7 million. For 2021, the total cost of power was $19.8 million. Schulte reviewed the Independent Auditor’s Report for 2021. He said the firm “encountered no difficulties in dealing with management in performing and completing our audit. We noted no transactions entered into by the Cooperative during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.” On motion made, seconded and passed, the Board accepted the Independent Auditor’s Report as presented. Schulte and Ray presented information regarding a Bylaw Amendment needed due to the Cooperative’s change in taxable status as revenue for broadband has exceeded 15% of the Cooperative's overall revenue. After discussion, on motion made, seconded, and passed, the Board resolved to present the Bylaw Amendment to the members at the 2022 Annual Meeting in the form recommended.
Burton reviewed the financial summary for February 2022 with revenue and expense analysis and budget comparisons. Compared to budget, year-to-date revenue is up 2.93%, expenses are up 4.55% and power costs are up 6.71%. On motion made, seconded, and passed, the Board accepted the financial report.
Eftink reported on business from the board meeting at M&A Electric Power Cooperative. Items of interest included: finances; FEMA claim; and reliability. Haynes reported no meeting had been held since the last AMEC (Association of Missouri Electric Cooperatives) Board meeting.
Under old business the Board: reviewed its schedule of meetings; Policy 421, Member Attendance at Board Meetings, Policy 422, Pay as You Go Metering, were affirmed as presented; confirmed meetings dates for 2022. Under new business, Vineyard provided information on the bid process for a permanent drive-thru facility at the Sikeston campus. When Covid-19 started, the Cooperative added temporary drive-thru huts at the Bloomfield campus and in Sikeston. In 2021, the Cooperative added a permanent drive-thru to its facility in Bloomfield and now will add a drive-thru to its facility in Sikeston. The project is underway and will cost around $1.5 million. In February, there were 1,028 drive-thru transactions in Bloomfield and 890 drive-thru transactions in Sikeston.
The Board reviewed written staff reports. Department leaders were present to supplement their reports and to answer questions. The remaining staff members were excused from the meeting. Therefore, the Board entered into Executive Session to discuss personnel matters. There being no further business the meeting was adjourned.
