In an effort to keep you informed of your cooperative’s operations and activities, the following are highlights of the Nov. 18 board meeting.

1. All directors were present via Webex. CEO Steve Seibert and Administrative Assistant Lisa Hinton were present in person.  

2. The Oct. 28 board meeting minutes were reviewed and approved.

3. The membership certificates were reviewed.

4. The vouchers were reviewed and approved.

5. The directors’ report was reviewed and approved.

6. Seibert reviewed the Hoosier Energy wholesale power cost tracker and its impact on the co-op’s financial position. No changes will be made to the tracker at this time.

7. Seibert provided directors an update on the FTTH/broadband project with PSC. Seibert reported on progress of each of the eight phases of the project.

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

a. Seibert reported the front lobby is currently closed due to the pandemic as we continue to monitor local COVID-19 data.

b. Seibert informed the board that cooperative employees will continue with a normal work schedule for December while still following CDC guidelines.

c. Seibert reported capital credit retirement checks for the year 1995 are scheduled to be mailed Dec. 4.

d. Seibert informed the board that a legal notice of unclaimed capital credits for 1993 was published in the Perry County News on Nov. 16 and will be published in the Spencer County Journal Democrat on Nov. 25.

e. Seibert reported that unclaimed capital credits for 1984-1987 become permanent equity of the cooperative on Dec. 1, 2020.

f. Seibert reported Hoosier Energy CEO Donna Walker will attend Southern Indiana Power’s Dec. 30 board meeting via Webex.

g. Seibert updated directors on a NRECA Webex he attended on
Nov. 13.

h. Seibert reviewed the 2019 CFC Key Ratio Trend Analysis.

i. Seibert reported the IEC annual meeting will be a business-only meeting and will be held virtually on Dec. 7. The NRECA annual meeting is scheduled to be held virtually Feb. 22-24.

9. Seibert reported that due to the pandemic, there has not been a safety meeting in November. Seibert advised there were no lost time accidents and no public liability claims to report.

10. A budget committee meeting has been scheduled for Friday, Dec. 18.

11. A wage and salary committee meeting has been scheduled for Tuesday, Dec. 15.

12. Director Gary Waninger reported on a Hoosier Energy board meeting held Nov. 9.

13. Director training information was provided to the board.

14. The next regularly scheduled board of directors meeting will be held
Wednesday, Dec. 30.