Board Spotlight: Ray Reviews Board Duties
A regular meeting of the Board of Directors of SEMO Electric Cooperative, Inc., (hereinafter referred to as “Cooperative”) was held on Friday, October 15, 2021, at the offices of the Cooperative in Sikeston, Missouri. The meeting was called to order by President Richard Faulkner. The following Directors were present: Richard Faulkner, Butch Dirnberger, Carl Eftink, Dennis Fowler, James Deneke, Carla Moore, Keith Haynes, Dicky Hanor, Tim Coppage, John Bledsoe, Myron Hawes and Hamil Corse. Directors absent none. Also present were Sean Vanslyke, CEO/General Manager; Megan Ray, General Counsel; and staff members Loyd Rice, Becky Ivester, Ron Montgomery, Angie Byford, Amanda Burnett, Chris Freed, Dannett Cooper, Brad Milam and Marty Vineyard. 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 as presented. The Board considered its consent agenda consisting of: the minutes of the regular meeting of September 20, 2021; new membership applications; membership cancellations; initial review of Policy 412 – Payment of Electric Bills; and initial review of Policy 413 - Deposits. On motion made, seconded and passed, the actions required for each were approved by consent.
Montgomery presented the monthly safety report. He provided information on the monthly safety topic which is training your mind for better habits to guard against accidents. Amanda Burnett reviewed the financial summary for September 2021 with revenue and expense analysis and budget comparisons. Compared to budget, revenue is up 2.01%, expenses are up 4.35% and power costs are up 3.88%.
Eftink reported on business from the M&A Electric Power Cooperative (electric transmission) meeting. Items of interest included: safety; sales; reliability; construction; and finances. Haynes reported on the Association of Missouri Electric Cooperatives’ (AMEC) board meeting that was held in conjunction with AMEC’s annual meeting.
Under old business the Board: reviewed its schedule of meetings and confirmed registrations for attendance; and reviewed and passed, Policy 410 – Non-Standard Metering, and Policy 411 – Security/Street Lighting as presented.
Under new business the Board: provided district updates; discussed dates, formats, and locations for the 2022 Annual Meeting; and Vanslyke presented a video from NRECA regarding Board duties, after which Ray presented information regarding fiduciary duties each Board member owes to the Cooperative.
Vanslyke reported on SEMO 360 activities. The Board reviewed written staff reports. Department leaders were present to supplement their reports and to answer questions. Thereafter, staff members were excused from the meeting. The Board entered and exited Executive Session. There being no further business to come before the Board, on motion made, seconded and passed, the meeting was adjourned.
