November board meeting notes

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Posted on Jan 02 2026 in Southern Indiana Power

To keep you informed of your cooperative’s operations and activities, the following are highlights of the Nov. 25 board meeting:

  • All directors were present along with President/CEO Steve Seibert and Administrative Assistant Lisa Hinton. Also present was Office/IT Manager Karen Mangum.
  • The Oct. 29 board meeting minutes were reviewed and approved.
  • The membership certificates were reviewed.
  • The vouchers were reviewed and approved.
  • The director’s report was reviewed and approved.
  • Mangum provided an informative presentation on the Office/IT departments.
  • Seibert reviewed the Hoosier Energy Wholesale Power Cost Tracker with the board. 
  • Seibert provided directors with an update on the FTTH/broadband project with PSC. 
  • The CEO report was the first item of new business, with Seibert reporting on the following items:
    • GIS project update
    • Margin recovery update
    • RUS Cushion of Credit
    • CFC Medium Term Note rate
    • Cost of Service Study update
    • Indiana Electric Cooperatives (IEC) Legislative Dinner update
    • Upcoming local Christmas parade participation
    • 2026 Hoosier Energy LMR program
    • Blue Ribbon Basket participation for Ronald McDonald House Charities
    • Capital credit checks for the 2000 retirement were mailed on Nov. 14.
    • A legal notice of unclaimed capital credits for 1998 was published in the Perry County News on Nov. 17 and the Spencer County Journal Democrat on Nov. 19.
    • Unclaimed capital credits from 1995 will become permanent equity of the cooperative as of Dec. 1.
    • Seibert reported the following upcoming meeting dates: the employee Christmas party on Dec. 5, the IEC Annual Meeting on Dec. 8-9, and the NRECA Directors Conference on Jan. 25-28.
  • Robert White, safety and risk management instructor with IEC, conducted a safety rules review on Oct. 19. Seibert advised there were no lost time accidents and one public liability claim to report.
  • Seibert reviewed the 2026 distributed generation rate, which was approved by the board.
  • Director Kyle Knieriem was selected as a voting delegate, and Director Dirk Stein was selected as an alternate, for the NRECA PowerXchange to be held on March 9-11.
  • A budget committee meeting has been scheduled for Dec. 16.    
  • The board approved a United Way corporate sponsorship for 2026.
  • Director Gary Waninger reported on a Hoosier Energy Board Meeting held on Nov. 10.
  • Director training information was provided to the board.
  • The next regularly scheduled board of directors meeting will be held on Tuesday, Dec. 30.