Arkansas Public Service Commission

The annual meeting included the election of directors in district 3 and district B, with Mr. Joe Spivey and Mr. Bobby Raulston reelected, respectively. Over 7,150 members responded to the survey. The performance during 2014 for reliability of service was a highlight. There were no member-initiated proposals or board-recommended proposals to consider at the meeting.

The meeting included reports for the previous fiscal year, ratification of actions by the Board of Directors or Members of the Cooperative, and the election of one director for the Cooperative. The financial performance, equity management, and technological advancements were reviewed, including the retirement of capital credits and the implementation of energy-efficient technologies. The meeting also covered service reliability, economic development, and community support.

The audit findings for Petit Jean Electric Cooperative Corporation and Subsidiary's consolidated financial statements for the year ended December 31, 2023, were discussed. Key topics included the adoption of Accounting Standards Codification (ASC 326) for credit losses, estimates related to unbilled revenue, allowance for credit losses, depreciation on distribution plant, and grant amounts earned. The audit found no significant difficulties or disagreements with management, and all misstatements were corrected. The report also covered supplementary information compliance and restrictions on the use of the information.

The 2022 Comprehensive Energy Efficiency Plan focuses on reducing natural gas consumption through various programs, including weatherization, commercial/industrial solutions, equipment rebates, and low-income assistance. The plan aims to save money for consumers, conserve resources, protect the environment, and increase awareness of energy efficiency opportunities. Key outcomes include exceeding energy savings targets, fostering positive relationships with customers and stakeholders, and supporting the local economy.

The Annual Meeting of the Members will include reporting on the number of persons present, reading of the Meeting Notice, reading of the unapproved minutes from the previous meeting, presentation of the Officers, Directors, and Committees reports, the election of Directors, unfinished business, new business, and adjournment.