Board Spotlight: Wood Celebrates 30 Years of Service
A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, May 15, 2023, at the office of the Cooperative in Sikeston, Missouri. The meeting was called to order at 12:35 p.m. by President Richard Faulkner. The following Directors were present: Richard 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; Megan McCord, Attorney for the Cooperative; and staff members Angie Byford, Loyd Rice, Becky Ivester, Jared Kelley, Amanda Burnett, Ben Campbell, Brad Milam, Shane Hillis, Garrett Copeland, Ron Montgomery, and intern Donnie Brown. A prayer of invocation was offered by Bledsoe.
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 April 14, 2023; new membership applications; membership cancellations; initial review of Policy 228 – Service Award Program, and initial review of Policy 229 – Delegation of Authority. Montgomery presented the monthly safety report and shared information on the monthly safety focus of distracted driving. Department leaders presented strategic updates and answered questions from the board.
Burnett reviewed the financial summary for the month of April 2023 with revenue and expense analysis and budget comparisons. Compared to budget, year-to-date revenue is down 3.13%, expenses are up 8.97% and power costs are down 1.48%. Eftink reported on business from the M&A Electric (Transmission) Power Cooperative’s board meeting. Items of interest included: safety, reliability, margins, and the upcoming annual meeting. Haynes reported on business from the Association of Missouri Electric Cooperatives’ (AMEC) executive committee meeting. Items of interest included audit report, committee reports, legislative update, and Rural Missouri.
Under old business the Board: reviewed its schedule of meetings; Policy 226 – Disabled Benefit Accruals, Policy 227 – Medical Leave Sharing Plan. Under new business, the Board reviewed and discussed district updates. Rice presented information on the Rural Economic Development Loan and Grant programs from the U.S. Department of Agriculture. Montgomery reported on the need to appoint board members for the SEMO Electric Foundation, Inc. Vanslyke recommended the cooperative contribute $1,000 to the National Rural Utilities Cooperative Finance Corporation’s Cooperative System Integrity Fund for resolving regulatory and legislative challenges that threaten the cooperative business model. He also advised a voting representative needed to be selected to the AMEC Annual Meeting. The Board appointed Haynes and Vanslyke as the alternative.
The Board reviewed written staff reports. The remaining staff members were excused from the meeting. Therefore, the Board entered into Executive Session to discuss legal and personnel matters. There being no further business the meeting was adjourned at 5:15 p.m.
