November board meeting notes

Posted on Jan 08 2023 in Southern Indiana Power

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

1. All directors were present along with President/CEO Steve Seibert and Administrative Assistant Lisa Hinton. Also present were John Wolfram of Catalyst Consulting, LLC and Office/IT Manager Karen Mangum. 

2. The Oct. 26 Board meeting minutes were reviewed and approved.

3. The membership certificates were reviewed.

4. The vouchers were reviewed and approved.

5. The director’s report was reviewed and approved.

6. A Cost-of-Service Study presentation was provided by John Wolfram, principal, Catalyst Consulting, LLC.

7. Mangum gave an informative update of the office/IT departments.

8. Seibert reviewed the Hoosier Energy Wholesale Power Cost Tracker and its impact on the co-op’s financial position. After discussion, the board approved an increase of $5.70 per 1,000 kWh in member rates, effective Jan. 1, 2023.  

9. Seibert provided directors an update on the FTTH/broadband project with PSC. Seibert reported on progress of each phase of the project and provided a 2023 fiber plan map.

10. Seibert reviewed findings from the recent Strategic Planning Session and discussed the next steps of the plan.

11. The CEO report was the first item of new business with Seibert reporting the following items:

a. Seibert informed the board Southern Indiana Power will have a lineman participating in the IEC Project Indiana initiative.  

b. Seibert and director Randy Kleaving attended an IEC legislative dinner.

c. Seibert reviewed a Hoosier Energy Load Modifying Resources program with the board.

d. Seibert discussed a Hoosier Energy Perry County Reliability Improvement Project.

e. Seibert informed the board of an RUS draw.

f. Seibert gave an update on the 2023-2026 Work Plan.

g. Seibert relayed that capital credit checks for 1997 retirements were mailed on Nov. 16.

h. Seibert informed the board that a legal notice of unclaimed capital credits for 1995 was published in the Perry County News on Nov. 21 and the Spencer County Journal Democrat on Nov. 23.

i. Seibert reported that unclaimed capital credits for 1990-1992 will become permanent equity of the cooperative on Dec. 1.

j. Seibert reported the following upcoming meeting dates: IEC Annual Meeting – Dec. 5-6, employee Christmas party – Dec. 10, and the NRECA CEO Conference – Jan. 8-10. 

12. Chris Gerald, safety and risk management instructor with Indiana Electric Cooperatives, conducted ergonomics, slips, trips and falls safety training on Nov. 19. Seibert advised there were no lost time accidents, and no public liability claims to report.

13. Seibert reviewed the 2023 distributed generation rate, which was approved by the board.

14. A Budget Committee Meeting has been scheduled for Wednesday, Dec. 21.

15. Director Gary Waninger reported on a Hoosier Energy Board Meeting held Nov. 14.

16. Director Kleaving reported on an IEC Board Meeting held Nov. 21.

17. Director training information was provided to the board.

18. Chairman Jeff Vogel read thank-you notes from Lucille Jones and Perry Central boys’ basketball.

19. The next regularly scheduled Board of Directors meeting will be held Wednesday, Dec. 28.