Board Spotlight: Board Discusses Safety, Approves CapEx Budget
A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Monday, November 16, 2020, at the office of the Cooperative in Sikeston, Missouri. The following Directors were present: 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: Rick Faulkner. Also present were Sean Vanslyke, CEO/General Manager; Megan Ray, General Counsel; and staff members Angie Byford, Amanda Burnett, Becky Ivester, Loyd Rice (via zoom), Chris Freed, Peggy Evans, Dannett Cooper, Ron Montgomery and Brad Milam. The meeting was called to order at 12:58 p.m. by Vice President Bledsoe.
A prayer of invocation was offered by Freed. 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 October 19, 2020; new membership applications; membership cancellations; initial review of Policy 231, Manager Compensation from Other Sources; and initial review of Policy 233, Employee Business Ethics.
Montgomery presented the monthly safety report and the monthly safety focus topic about portable generator safety. Following his report, Montgomery left the meeting. Burnett reviewed finances with revenue and expense analysis, budget comparisons, and a review of the arrears report. Compared to budget, year-to-date expenses are down 5.85%, revenue is down 2.44% and power costs are down 3.68%.
Eftink reported on business from the M & A Electric Power Cooperative (electricity transmission) meeting. Items of interest included: safety; sales; solar; reliability; construction; and finances. Haynes reported that the Association of Missouri Electric Cooperatives' (statewide organization) meeting was scheduled for December.
Under old business, the Board: reviewed its schedule of meetings; Policy 228, Service Award Program, was affirmed as presented; and Policy 230, Employee Identification Badge, was affirmed as presented. Under new business, the Board: discussed current electric rates and resolved to increase the Daily Fixed Charge by ten cents starting with electric bills due in February 2021. At this time, Faulkner joined the meeting via Zoom. Burnett presented the 2021 Capital Budget and answered Board members’ questions. After discussion, on motion made, seconded, the budget was approved as presented. Vanslyke asked the Board to consider any potential Bylaw amendments they would like to propose for 2021.
Ivester presented a GoSEMO Fiber subscriber update and provided information on sales. 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 to come before the Board, on motion made, seconded and passed, the meeting was adjourned at 3:42 p.m.
