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Board Meeting Minutes

On November 21, 2017 at 11:00 a.m. the board meeting was called to order by board PresidentTom Larsen. Those attending included Terry Munter, Mike Slattery, James Ryken and Chris Kinney. Attending staff members included Chris Larson, Beth Bottolfson, Mike Kruse and Mike Kjose also attended.

Agenda (action item) After adding an executive session, a conference call and the addition of an electric service contract, a motion was made, seconded and carried to approve the agenda.

Visitors to Be Heard Building architect conference call @ 1:30 pm.

Minutes (action item) After review, a motion was made, seconded and carried to approve the 10/27/17 Board meeting minutes.

Executive Minutes After review, a motion was made, seconded and carried to approve the 10/27/17 executive meeting minutes.

Electronic Funds Transfer The board reviewed the EFT/ACH payments and the monthly check list as presented.

New Members and Refunds (action item) A motion was made, seconded and carried to approve new members, refunds and credit deposits as presented.

Early Retirements of Capital Credits (action item) After review, a motion was made, seconded and carried to approve those retirements as presented.

Contracts (action item) After review, a motion was made, seconded and carried to approve two electric service contracts as presented. After a review of the Audit Services contract, a motion was then made, seconded and carried to approve the signing of the contract as presented.

Policy Review (action item) none

Manager’s Report was presented by Manager Larson.

• December Board Meeting - After some discussion, the 27th of December was selected as the next regular board meeting date.

• Authorize Amendment for 401k Plan 2 (action item) - This addendum requires a review and updating, if needed, on an annual basis. A motion was made, seconded and carried to authorize change. The Defined Benefit plan has moved from 20.50% to a 20.62%, thus causing a change in the plan.

• East River MAC -T he meeting started with a monthly REED meeting. Discussion on the upcoming Basin Annual meeting. East River also presented its 2018 budget. Other topics discussed included an update on the Clean Power Plan, future SCADA reports on mobile devices, a review of the Energizer Forum agenda and also a discussion on Federated Rural Insurance suggestions on arbitration.

• Building - The board reviewed drawings for a potential remodel of the office.

• Strategic Planning - A reminder the strategic planning session is scheduled for February 13th and 14th at the Lewis and Clark headquarters building.

• Annual Meeting - The next regular annual meeting is scheduled for March 27th in Gayville.

• Mid-West Annual Meeting - Larsen is the delegate and Kinney the will be the alternate, to the Mid-West meeting to be held December 11 14, 2017 in Denver.

• Yankton Trailer Court - A letter has been sent explaining our intent to provide service to a Yankton trailer court and the rebuilding of those electric services.

• Legislative Forum - Clay-Union Electric will be this year’s host.

• Franchises - We are beginning the process to understand the paperwork required.

• Federated Umbrella Coverage - After a review of last month’s conversation, a motion was made, seconded and carried to approve moving from 4 million to a 7 million dollar coverage level.

• Basin Annual Meeting - Larson and Slattery provided their thoughts regarding this year’s annual meeting.

• NRECA Annual Meeting (action item) -A fter some discussion, a motion was made to authorize attendance to this year’s annual meeting (February 25 28, 2018). The motion was seconded and carried. A motion was then made, seconded and carried to appoint Chris Larson as the delegate and Mike Slattery the alternate to the NRECA.

• SDREA Annual Meeting (action item) - A motion was then made, seconded and carried to approve attendance. After discussion, a motion was made, seconded and carried to nominate Chris Kinney as the voting delegate and Mike Slattery as the alternate.

• Energizer Forum - There was some discussion regarding attendance, registration will be reviewed at the next regular board meeting.

• Christmas Party - Manager Larson review plans for the upcoming Christmas Party

• VCDC - Manager Larson notified the board, of his intent to put his name up for nomination to the VCDC board of directors.

• Capital Budget - Management presented a detailed Capital Budget. The Board had a lengthy discussion involving the different items within next year’s budget. A motion was made, seconded and carried to approve the 2018 Capital Budget as presented.

Departmental Reports Business Manager Bottolfson provided the administration report that

included:

• Billing Activity - There were four disconnects and reconnects this month. We now have almost 382 members signed up on our billing information website. Low Income Energy Assistance is in effect from October, 2017 thru March, 2018. Reviewed a sub-meter database project that will help us analyze our special rate programs to see if they are meeting their intended purpose.

• NRECA Benefit Enrollment - Annual Enrollment is being reviewed with employees.

Kruse provided the operations report:

• Monthly Department Work Summary - Crews have been doing maintenance on some irrigation panels. Underground replacements for the month were discussed. We had a pole that was hit by a tractor and crews are finishing up as many projects as possible before the ground freezes. Kjose then provided the member service report that included;

• The Dakota Farm Show will be held Tuesday thru Thursday, January. 3 – 5, 2018.

• Annual Meeting - The Gayville school has confirmed our meeting day.

• Basin Electric Annual Meeting - Kjose provided the board with a written report of Basin’s annual meeting for their review, discussion followed.

Financial Report Business Manager Bottolfson then provided a summary of the financials that included all or parts of the following reports; Balance Sheet, Cash Flow Statement, CRC Income and Expense, Interest Income, Investments at CFC Margin Stabilization, Kwh Sales and their comparisons, Large Power (over 50 kVa), Line Loss, Operating Statement, Power Bill, Summary of Purchased Power, Wiring Income and Expense. All financial material were posted earlier for board review.

Safety Meeting Minutes The board reviewed the 10/25/2017 safety meeting minutes.

Executive Session At 4:20 the board moved to an executive session. At 4:45 the board came out of executive session. No action was taken.

Adjournment There being no further business, a motion was made, seconded and carried to adjourn the meeting at 4:50pm.

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