Danial Schaffer

The regular meeting of the Board of Directors addressed several items. The Resolution Consent Agenda, which was approved, included the September Safety Report, September Financial Reports (Income Statement, Balance Sheet, Accounts Receivables/Arrears Update), Investment & Funding Analysis, 2024-2027 Workplan Update, Operations, Engineering, and Construction Report, and acceptance of the 990 & Tax Filing. Corporate Services presented the September 2025 Financials and Operating reports, including a total distribution explanation. A 3rd Quarter General Plant Review summary was presented. The Human Resources/Safety Report covered recent trainings, an economic update including the job market and AI's impact, succession management, and 2026 insurance changes. The 3rd Quarter KPI Report was reviewed, along with clarification on Member Satisfaction results. An update and plan regarding a recent outage in Accomack County were shared. Committee reports included an update from the Bylaw/Policy Committee and a Legal Report on an inquiry. Updates were also provided for ODEC and VMDAEC. The proposed 2026 Board of Directors' Meeting dates were reviewed, and board members completed annual forms. The meeting concluded with an Executive Session.

The regular board meeting commenced with the Chairman's invocation. Key discussions centered around the approval of the Resolution Consent Agenda, which encompassed several reports including the October Safety Report, Financials (Income Statement, Balance Sheet, Operating Reports), Outages, Accounts Receivables/Arrears Update, Member Services Report, Investment & Funding Analysis, 2024-2027 Workplan Update, Information Technology Report, Operations, Engineering, and Construction Report, and the 3rd Quarter Member Satisfaction Survey Results and Comments. Staff provided presentations on the 3rd Quarter Member Satisfaction Survey Results Summary and an overview of Bidgely, an energy intelligence company offering behind-the-meter insight, including rollout dates. Subsequent reports included the Legal Report and an ODEC report. An Op-Ed Draft from VMDAEC was also shared and discussed briefly. The meeting concluded after an Executive Session.

The regular board meeting included several significant items addressed during the operating reports and committee updates. Key discussions involved the November 2025 Financials and Operating reports, including PCA projections and staff recommendations for utilizing short-term notes for early 2026 cash needs. The Board unanimously approved staff's recommendation to offset projected amortization expenses not to exceed $800,000. They also approved the write-off of bad debt totaling $41,007.68 and an increase of $244,000 to the 2025 Storm Insurance Reserve Fund based on inflation recommendations. Further discussions included the rollout of Cooperative Living Magazine Digital Subscriptions, updates on the Legal Report concerning the 2025 Rate Case, and the finalization and appointment of 2026 A&N Electric Cooperative delegates. Two donation requests were also approved.

The annual meeting included reports from officers, directors, and committees, as well as the election of three directors. Discussions covered revenue, expenses, operating margins, and equity. There was also a focus on technology for outage recovery, vegetation management, and community support through scholarships and youth programs. The meeting also highlighted the cooperative's efforts in managing costs, providing value-added services, and assisting members in need.

The A&N Electric Cooperative held its 85th Annual Meeting, where President and CEO Butch Williamson addressed the crowd for the final time before his retirement. Members re-elected Mark Hickman and Add Nottingham to the Board of Directors. The meeting covered activities, financials, and operational successes from 2024, challenges with increased energy demand, and a forecast for 2026. Nottingham highlighted the cooperative's founding in 1940, youth education programs, and the return of $1.59 million in capital credits to members. Williamson discussed service reliability, safety, affordability, and the cooperative's efforts to help members control energy use and lower bills. Attendees also heard from the senior leadership team and the board held officer elections, reelecting Nottingham as chairman.