March board meeting overview

Posted on May 05 2022 in Southern Indiana Power

In an effort to keep you informed of your cooperative’s operations and activities, the following are highlights of the March 30 board meeting.

1. All directors were present. Also present were CEO Steve Seibert, Administrative Assistant Lisa Hinton and Accountant Amy Ramsey. Present via Webex was Earl Ridlen of the auditing firm LWG. 

2. The Feb. 23 board meeting minutes were reviewed and approved. 

3. The membership certificates were reviewed.

4. The vouchers were reviewed and approved.

5. The preliminary February directors’ reports were reviewed.

6. Ridlen of LWG reviewed the 2021 audit report in detail. After review, the board approved the 2021 audit report as presented.

7. Seibert provided an update on the FTTH/broadband project with PSC.

8. Seibert updated the board on the Hoosier Energy Wholesale Power Cost Tracker. The board approved a tracker increase effective April 1 of $2.68 per 1,000 kWh.  

9. The board adopted a resolution to approve a CFC loan/line of credit.

10. The CEO report was presented with Seibert reporting the following items:

a. Seibert reported we continue to monitor local COVID-19 data.

b. Seibert informed the board he and Director Randy Kleaving
    attended a Perry County Chamber luncheon with
    Congressman Bucshon.

c. Seibert provided directors an RUS update.

d. Seibert informed directors on 2022 General Assembly

e. Seibert reviewed Cooperatives One financials.

f. Seibert informed the board of the cooperative’s issues with supply chain and cost pressures.

g. Seibert reported April 11 is National Lineman Appreciation Day, and April 27 is National Administrative Professionals Day.

i. Seibert reported the following meeting dates: Hoosier Energy annual meeting – April 7, NRECA Legislative Conference – May 1-3, SIP annual meeting – April 19, CFC Forum – June 20-22.

11. The board adopted a resolution to approve the 2020-2040 Hoosier Energy power requirements study.

12. Cory Berg, safety and training specialist at Hoosier Energy, provided multi meter and phasing stick skills improvement on Feb. 24. Adam Lock, safety and risk management instructor at IEC, discussed near misses and safety procedures on March 24. Seibert advised there were no lost time accidents and no public liability claims to report.

13. A motion was made, seconded and carried by the board to approve the retirement of 1997 capital credit allocations in 2022. The capital credit distribution will be in November.

14. Seibert was selected voting delegate to the upcoming CFC annual meeting.

15. Director Gary Waninger reported on an Operation Round Up trustees meeting held on March 21. Five grant applications totaling $13,043 and four scholarships totaling $2,000 were approved for funding.

16. Director G. Waninger reported on a Hoosier Energy board meeting held March 28.

17. Chairman Jeff Vogel reported on the 2022 NRECA PowerXchange held March 7-9.

18. The next regularly scheduled board of directors meetings will be held Wednesday, April 27.