Board Spotlight: Annual Meeting: May 13 at Jaycee Rodeo Grounds

A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, March 15, 2021, at the office of the Cooperative in Sikeston, Missouri. The following Directors were present: Rick 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; Darynne O’Neal, General Counsel; and staff members Angie Byford, Amanda Burnett, Loyd Rice, Chris Freed, Marty Vineyard, Dannett Cooper, Ron Montgomery, Brad Milam and Auditor Allen Schulte. The meeting was called to order by President Faulkner.

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 15, 2021; new membership applications; membership cancellations; review of Policy 308, Use of Computer, Software and Related Equipment; and review of Policy 309, Accident Investigations.

Montgomery presented the monthly safety report and discussed severe weather preparedness and highlighted the differences between watches and warnings. A watch means that the potential exists for the development of severe thunderstorms or tornadoes, A tornado warning is issued when a tornado is sighted or indicated by weather radar. You should take shelter immediately.

Schulte reviewed the results of the 2020 audit. He noted there were “no transactions entered into by the organization during the year for which there is a lack of authoritative guidance or consensus and that all significant transactions have been recognized in the financial statements in the proper period. We encountered no difficulties in dealing with management in performing and completing our audit.” On motion made, seconded and passed, the Board resolved to accept the audit of SEMO Electric and the SEMO Foundation.

Burnett reviewed the financial summary for the month of February 2021 with revenue and expense analysis, budget comparisons, and a review of the arrears report. Compared to budget, year-to-date expenses are down 2.67%, revenue is up 8.08% and power costs are up 4.97%. Eftink reported on business from the M&A Electric Power Cooperative board meeting. Items of interest included: safety, sales, reliability, construction and finances.

Under old business the Board: reviewed its schedule of meetings; Policy 305, Check Signatures, was affirmed as presented; and Policy 307, Sale or Transfer of Cooperatives Assets, was affirmed as presented. Vanslyke reviewed and discussed timelines surrounding the upcoming annual meeting. Under new business, the board adopted a resolution regarding director election campaigning during the May 13 annual meeting.

The board reviewed written staff reports and department leaders were present to supplement their reports. Remaining staff members were excused from the meeting. Therefore, 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.