January board meeting notes

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Posted on Mar 13 2025 in Southern Indiana Power

To keep you informed of your cooperative’s operations and activities, the following are highlights of the Jan. 29 board meeting. 

    1. All directors were present, along with CEO Steve Seibert and Administrative Assistant Lisa Hinton.  
    2. The Dec.18, 2024, board meeting minutes were approved.
    3. The membership certificates were reviewed. 
    4. The vouchers were reviewed and approved.
    5. Seibert provided an update on the FTTH/broadband project with PSC. 
    6. The CEO report was presented with Seibert reporting the following items:
      • Winter storm debrief
      • Discussed an office remodel project
      • GIS project update
      • Office Master Plan update
      • Provided an Indiana General Assembly update
      • Reported the 2025 Weighted Average Cost of Capital (WACC) is 2.974%
      • Reported on Project Indiana
      • Reported on NISC capital credit allocations
      • Seibert reported the following meeting dates: PCDC annual meeting Jan. 30, Strategic Planning Feb. 4, Hoosier Energy CEO Donna Walker presentation Feb. 26, NRECA PowerXchange March 9-12, ORU meeting March 19, and Hoosier Energy Annual Meeting April 3.
      • The board approved the inventory adjustment for the year ending Dec. 31, 2024. 
    7. Robert White, safety and risk management instructor at IEC, conducted grounds testing training on Dec. 19 and a CPR/AED refresher on Jan. 15. Seibert advised that there were no lost-time accidents and no public liability claims to report.
    8. Chairman Vogel reviewed 2025 committee assignments.
    9. Director Kyle Knieriem was selected as a delegate to the Hoosier Energy annual meeting, which will be held on April 3, 2025.
    10. Director Gary Waninger was re-elected to serve as Southern Indiana Power’s Hoosier Energy director for 2025.
    11. Seibert reported on the NRECA CEO Conference held Jan. 8-10.
    12. Directors Waninger, Chris Burroughs, and Chairman Jeff Vogel reported on the NRECA Director’s Conference.
    13. Director Waninger reported on the Hoosier Energy board meeting held on Jan. 21.
    14. A Youth Tour committee meeting has been scheduled for Feb. 26.
    15. The board reviewed section 8, Board of Directors Composition, of the NRECA Good Governance Task Force Report.
    16. The next regularly scheduled board of directors meeting will be held Wednesday, Feb. 26.