Caroline Couture Mashia

The Board of Directors discussed a range of topics, including the approval of IRS Form 990, an executive session regarding a financial matter, and a review of NRECA International efforts. A detailed presentation on power supply portfolio goals, specifically regarding 100% renewable energy requirements by 2030 and the potential inclusion of nuclear generation in the procurement program, was delivered, resulting in the adoption of a resolution authorizing the inclusion of nuclear energy as a baseload resource. Additionally, the Board discussed the transition of virtual meeting platforms and reviewed various management reports.

The strategic plan provides direction and focus for the cooperative, identifying specific results to be achieved and establishing courses of action. It aims to create alignment within the organization and outlines strategic goals and objectives.

The board meeting agenda included a safety drill, review of committee meeting minutes, and the assignment of board committee chairs. Key business items involved finance committee recommendations, a board roundtable session, an enterprise risk management presentation, review of managers' reports, and an update on CEO goals for the year.

The meeting featured a presentation on safety protocols, including the importance of recording and learning from near-miss events. The President provided an address detailing cooperative principles, the role of members, and initiatives such as community outreach, educational webinars, and the VEC Community Fund which provides grants to local organizations. The Secretary confirmed a quorum for the meeting and verified that the notice of the meeting was properly mailed. The Treasurer reported on the cooperative's financial stability, noting an A+ rating from Standard & Poor's, results from the 2024 independent audit, operating revenues and expenses, power supply costs, and significant capital investments. Finally, the results of the 2024 Board of Directors election were announced.

The Board of Directors received an office workstation safety briefing and reviewed the final 2025 financial audit report, which provided an unqualified opinion from the auditing firm. The Board approved a resolution to carry over 2025 capital funds to the 2026 budget to support fleet and AMI purchases. Discussion occurred regarding the process for executive sessions and the formal documentation of meeting topics. Additionally, the Board reviewed the member disconnection process, selected topics for 2026 board training, received manager reports, and held a discussion on potential future funding for NRECA youth programs.