Minutes of the Board of Trustees Meeting - February 22, 2021
The regular meeting of the Board of Trustees of Clay Electric Co-operative, Inc. (CECI) was held at the Clay Electric Co-operative Headquarters, Flora, Illinois beginning at 12:55 o’clock p.m. on Monday, Feb. 22, 2021.
Trustees present were: Kevin Logan, Bob Pierson, Bill Croy, Neil Gould, Richard Rudolphi, Frank Czyzewski, Danny Schnepper and Evan Smith. Also present were: Luke Johnson, CEO and Tyra Cycholl, Attorney for the Board. Frank Herman was present via conference call. The meeting was opened by Bob Pierson, who presided and Neil Gould, acted as secretary thereof.
The invocation was given by Neil Gould, and was followed by the pledge of allegiance.
The following proceedings were had [all action being first duly moved and seconded and all action taken being upon the unanimous vote of the Board or without dissenting vote of abstention unless otherwise stated]:
APPROVED, the Suggested Agenda.
HEARD, a Financial update regarding the loan portfolio, sources of revenue and Form 7 comparisons.
APPROVED, the Consent Agenda including the following:
- APPROVED, the prior meeting minutes.
- APPROVED, (a) to admit to membership those 11 applicants connected for service since the last such review by the board, and (b) cancel those 7 former members shown on the Manager’s Report since the last such review by the Board, said members no longer taking service;
- APPROVED, the Work Orders;
- DISCUSSED, then APPROVED, the Disbursements;
- DISCUSSED, then APPROVED, the Credit Card Statements;
- REVIEWED, the Attorney Retainer;
- REVIEWED, the Account Summary Report;
- REVIEWED, the Federated Report from the Board.
APPROVED, the Purchase Power Agreements as presented.
APPROVED, the Clay Farming Contract.
REVIEWED, the CFC quarterly loan payment.
WERE REMINDED, the NRECA Annual Meeting is being held virtually.
HEARD, a report by Luke Johnson regarding the SIPC Meeting.
HEARD, a report by Kevin Logan regarding the AIEC Meeting.
WERE REMINDED, the Federated Annual Meeting and CFC Forum will be June 14-16 in San Antonio, Texas.
WERE REMINDED, the Legislative Conference will be online April 19-23.
AT 1:55 p.m. APPROVED, entering into Executive Session.
AT 2:20 p.m. APPROVED, exiting Executive Session.
HEARD and APPROVED, a financial report by Luke Johnson as to the following:
- January 2021 Form 7;
- January 2021 Balance Sheet;
- PCA Approval;
- January 2021 Cash Flow;
- SIPC Power Delivered in January 2021;
- December Line Loss;
- Monthly Reconciliation.
APPROVED, giving CEO Luke Johnson the authority to do a Power Cost Adder.
HEARD, a Safety Report for the month.
REVIEWED, the Monday morning Safety meeting held Feb. 16, 2021.
REVIEWED, the Federated Workers Compensation Experience Mod Summary Report.
HEARD and APPROVED, the Manager’s report by Luke Johnson on the following topics.
- Operations Report;
- Communications Report;
- Upcoming meetings.
REVIEWED, the Operations Report.
REVIEWED, the Communications Report.
WERE REMINDED, of upcoming meetings on, March 22, 2021 at 1 p.m. and April 26, 2021 and May 24, 2021 at 7 p.m. in the Clay Board Room.
There being no further business to come before the Board, said meeting was declared adjourned at 3:05 p.m.