Board Spotlight: $25 Credit to Attend July 2 Annual Meeting

A regular meeting of the Board of Directors of SEMO Electric Cooperative was held on Monday, May 18, 2020, at the offices of the Cooperative in Sikeston, Mo. The meeting was called to order at 12:58 p.m. by President Richard Faulkner. 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, Chris Freed and Marty Vineyard. A prayer of invocation was offered by Eftink. The Board approved its consent agenda consisting of: the minutes of the regular meeting of April 20, 2020; new membership applications; membership cancellations; initial review of Policy 217 CDL Licenses; and initial review of Policy 218 Nepotism. Vanslyke presented the monthly safety report, which is on COVID-19 prevention.

Burnett reviewed the financial summary for the month of April 2020 with revenue and expense analysis, budget comparisons, and a review of the arrears report. Compared to budget, year-to-date expenses are down 7.91%, revenue is down 1.17% and power costs are down 2.38%. Eftink reminded the Board of the upcoming M&A annual meeting. Haynes reported his attendance to the AMEC Board meeting. Items of interest included: the audit report, executive committee meeting, and cancellation of upcoming meetings.

Under old business, the Board reviewed its schedule of meetings; Policy 213 Jury Duty was affirmed as presented; and Policy 214 Retirement Age was affirmed as presented. Under new business, Policy 232 was amended to increase the maximum amount of educational reimbursement per employee to $6,000 per calendar year; Vanslyke reviewed the schedule of employees authorized to conduct business on the Cooperative’s behalf for each of the Cooperative’s bank accounts; Vanslyke reviewed the requirements for the notice of meeting, as well an overview of the planned drive-in meeting. After discussion, the Board resolved to hold a drive-in special meeting of the members from 6 p.m. to 8 p.m. on July 2, 2020 at Three Rivers College in Sikeston, Mo., for the limited purpose of holding director elections, due to the COVID-19 pandemic. The Board resolved to give each registered membership (one per household) a $25 bill credit and to hold a drawing for registered members for five $250 bill credits. Thereafter, the Board entered into Executive Session to discuss personnel matters and, with no other business, adjourned at 5:05 p.m.