Lance Kephart

The board accepted new members via resolution, received a financial report, and reviewed the monthly safety report. Key actions included the approval of an $8,000 capital budget increase for electric vehicle charging infrastructure, an update on service center property negotiations, and the recognition of Lineworker Appreciation Day on April 13. Furthermore, the board established dates for district meetings, discussed entertainment options for the annual meeting, acknowledged a process change for material procurement, and received reports on various committee activities, including attendance at legislative and industry conferences. An executive session was held to discuss business matters.

The Board of Directors meeting included recognition of service for directors, the acceptance of new members via resolution, and a review of the financial report for the previous month. Key activities involved the presentation of monthly safety, member relations, and operations reports, as well as a communications exercise for directors. The Board deliberated on the Lone Tree Operation Site Evaluation, approved the 2025 Annual Reliability Report, authorized capital budget expenditures for the Information Technology department, and discussed preparations for the upcoming Annual Meeting. Furthermore, the meeting included reports from various committees and regional conferences, and an executive session was conducted prior to adjournment.

The meeting commenced with the approval of the agenda. Key discussions included financial reporting for the period ending November 30, 2025, and the presentation of monthly safety and Member Relations dashboards. The board approved resolutions for accepting new members and writing off delinquent 2024 bills, which were subsequently turned over to a collection agency. Operations department dashboards and construction reports for November were reviewed. The board designated delegates and alternates for upcoming IAEC and NRECA annual meetings and approved a $500 contribution to the NRECA International Foundation for overseas electrification projects. Following reports on various committee and external meetings, the board reviewed a draft of the revised Cooperative Bylaws, which were subsequently approved. During an executive session, the board made a decision to align Board per diem compensation rates based on Journeyman Lineman pay, with specific adjustments for the President, Treasurer, and Secretary.

Key discussions during the meeting included the approval of the agenda and the acceptance of the financial report for the month ending December 31, 2025. The Board adopted resolutions to set the discount rate on patronage for estate settlements for 2026 at 3.00% and to set the interest rate on consumer deposits for 2026 at 0.15%. The Board reviewed monthly safety, member relations, and operations reports. Following a discussion regarding the Lone Tree Operation Site Evaluation, the Board directed staff to continue the evaluation. The Board also reviewed expenses for various internal accounts for 2025. A delegate and alternate were named for the upcoming CIPCO Annual Meeting. The Board reviewed expenditures from the 2025 Capital Budget and noted upcoming events like Eastern's Day on the Hill. The Board accepted the consent agenda and later adopted a new Per Diem Policy for Directors and Officers, establishing automatic annual adjustments. Finally, the committee structure for the Revolving Loan Committee was confirmed, including the appointment of a new community member.

The meetings covered several operational and financial aspects of the cooperative. Key discussions included the approval of the agenda and the minutes from the October 29, 2025, regular meeting and the November 13, 2025, special board meeting. Financial matters involved accepting the financial report for October 31, 2025, and adopting Resolutions approving the 2026 Capital Budget and the 2026 Operating Budget. Furthermore, the board established the regular monthly meeting dates for 2026. Discussions also touched upon director attendance at upcoming legislative receptions and review of the director election process for 2026. A financial review committee update was provided. In an executive session, the board directed management to place the former Wilton headquarters parcel up for sale. A subsequent discussion addressed the former Wilton headquarters property, leading to the appointment of a board representative to assist in negotiating its sale, with a minimum selling price established.