The meeting was opened by Chairman Steve AmRhein, and Brian Scheidler kept the minutes of the meeting. All board members were present. Also present was CEO Brett Abplanalp and employees Matt Raver and Sam Ruf.
Suzanne Parmer moved to approve the agenda. Dale Wernke seconded the motion. The motion passed unanimously.
Jason Barnhorst moved to disclose the cost and results of the whistleblower investigation by roll call vote. Dale Wernke seconded the motion. Brian Scheidler voted yes, Dale Wernke voted yes, Suzanne Parmer voted no, Clay Nuhring voted no, Carl Riedeman voted no, Jeff Lawrence voted no, Jason Barnhorst voted yes and Steve AmRhein voted yes. The motion did not pass, with a 4-4 vote.
Approval of previous meeting minutes
Dale Wernke moved to approve the minutes from the March 23, 2023, board meeting. Suzanne Parmer seconded the motion. The motion passed unanimously.
Safety minute and cool moment
The cool moment was presented by Brett Abplanalp and included the successful first responders’ live line demonstration, highlighting the dangers of downed power lines. The safety moment was presented by Brett Abplanalp and included the commitment to “Zero Contacts” phase two with NRECA.
Broadband-ready community update
Rick Nobbe presented to the board the work that has been done to receive the certificate that designates Decatur County as a broadband-ready community. This designation is critical for existing or new broadband providers that want to apply for grants to expand or create new services. Rick Nobbe also covered existing services available in Decatur County today.
Fiber feasibility project update
The board then went into executive session due to a non-disclosure agreement in place to discuss the fiber feasibility project. The board went back into regular session at 8:08 p.m. Sam Ruf went over grant updates and work going on to prepare for grant openings in 2023-2024. Membership in Accord Telecommunications Collaborative was also discussed with the board.
Election candidate bio approval process
Sam Ruf discussed recommendations for how a director candidate’s bio would be approved for future elections. The consensus of the board was to move forward with drafting language for board agreement.
CEO and director 1-on-1
Chairman Steve AmRhein addressed the board members that did not respond to the request with the given dates and times. Steve AmRhein asked all board members to complete this by the next board meeting.
CEO updates
Brett Abplanalp updated the board on strategic projects. Brett Abplanalp then covered March company metrics as prepared on CTO. March’s median temperature was 7% cooler than our five-year average, with heating degree days at 756, and the five-year average being 671. Our Hoosier purchased energy was down 2.3% compared to our five-year average, with demand 2.6% lower than our five-year average. Year-to-date energy sales are -6.35% under budget YTD. There was no major storm for the month of March. Lost consumer hours were 820, compared to our five-year average of 3,688. The number of outages was 37, compared to our five-year average of 40. Outage causes for the month were: trees not in ROW and trees.
Financial updates
Matt Raver reported on March financials as prepared on CTO. Net utility plant increased $262,879 in March and our current equity is 61.78%. Revenues are over YTD budget and power costs are over, resulting in a gross margin under budget of $198,017 YTD. Controllable expenses are under budget by $171,532. The cash flow statement shows a March beginning balance of $1,250,251 and we ended the current month with a net decrease in cash of $672,326, resulting in an ending cash balance of $577,925.
Matt Raver stated that per our approved budget, in the next sixty days, we will be reaching the point where we will need to borrow additional funds to match our construction bills. The current short-term interest rate is 6.75% and the long-term rate is 3.66%. Matt Raver asked if we needed board approval to pull short-term money to pay our bills. It was stated to notify the board when short-term funds are borrowed.
Discuss changing email voting rules in bylaws
Current bylaws require board action by written consent to be approved by all directors, not the majority. Brett Abplanalp discussed a legal opinion that states if one director opposes then that motion should be debated as a board. No changes were made to the current bylaw.
Policy/bylaws review and report out
Brett Abplanalp presented redlines and a review of the following policies with no material changes:
Policy 1-12: Marketing
Policy 2-4: Membership Corporation Regulations for Service to Electric Motors
Policy 2-09: Non-Permanent Three Phase Service
Policy 10-04: Employee Health and Wellness
Jason Barnhorst moved to approve all changes as presented. Jeff Lawrence seconded the motion. The motion passed unanimously.
Education and training
Brett Abplanalp gave a presentation on the new MISO peak prediction tool provided by Hoosier Energy.
Hoosier Energy Board update
Jason Barnhorst reported out on the Hoosier Energy Annual Meeting, and he was elected chairman of the Hoosier Finance and Audit Committee.
IEC Board/committee update
Steve AmRhein reported on the IEC board meeting.
Suzanne Parmer moved to adjourn the meeting. Dale Wernke seconded the motion. The motion passed unanimously, and the meeting was adjourned at 9:08 p.m.
