1. All directors were present, six in person, one via Webex. Also present were CEO Steve Seibert, Administrative Assistant Lisa Hinton and Manager of Finance and Accounting Amy Ramsey. Also present via Webex was Earl Ridlen of the auditing firm LWG.
2. The Feb. 28, 2023, board meeting minutes were reviewed and approved.
3. The membership certificates were reviewed.
4. The vouchers were reviewed and approved.
5. The preliminary February director’s reports were reviewed.
6. Ridlen of LWG reviewed the 2022 Audit Report in detail. After review, the board approved the 2022 Audit Report as presented.
7. Seibert provided an update on the FTTH/broadband project with PSC.
8. The CEO report was presented with Seibert reporting the following items:
a. Seibert reported the RUS cushion of credit interest rate is 4.05%.
b. Seibert informed the board of a RUS draw.
c. Seibert reviewed Cooperatives One financials.
d. Seibert reviewed rate change information that will be effective April 1.
e. Seibert discussed outages from the windstorm on March 3.
f. Seibert reviewed an electric vehicle charging saturation analysis prepared for the cooperative by Power Centric Solutions.
g. Seibert reviewed the 2023 residential rebate program.
h. Seibert presented an annual meeting update.
i. Seibert informed the board the EAP moratorium ended March 15.
j. Seibert reported April 10 is National Lineman Appreciation Day and April 26 is National Administrative Professionals Day.
k. Seibert informed the board the IEC Guatemala trip has been delayed to April 27-May 13.
i. Seibert reported the following meeting dates: Hoosier Energy Annual Meeting, April 5; NRECA Legislative Conference, April 16-19; SIP Annual Meeting, April 20; ACES Member Conference, June 1-2; CFC Forum, June 19-21; and IEC Directors Retreat, July 29-30.
9. IEC presented underground switching safety training on March 8. Hoosier Energy provided lockout/tagout safety training on March 28. Seibert advised there were no lost time accidents, and no public liability claims to report.
10. The board approved the retirement of 1998 capital credit allocations in 2023. The capital credit distribution will be in November.
11. The board approved the independent auditing firm LWG CPAs and Advisors of Indianapolis, Indiana, to audit the cooperative’s financial statements through 2023.
12. A policy and bylaw committee meeting has been scheduled for July 14.
13. Director Gary Waninger reported on an Operation Round Up trustees meeting held March 15. Twelve grant applications totaling $23,344.40 and four scholarships totaling $2,000 were approved for funding.
14. Director Waninger reported on a Hoosier Energy board meeting held March 22.
15. Director Dirk Stein reported on the 2023 NRECA PowerXchange held March 6-8.
16. The next regularly scheduled Board of Directors meeting will be held Wednesday, April 26.