Michael L. Bednar

The meeting included the election of officers, specifically the Treasurer, Secretary, and Secretary Pro Tem. Key actions involved the approval of the Capital Work Order Report, which detailed gross work order amounts totaling $1,387,208. The Board approved a Consent Agenda which included items concerning Resolutions of Commendation, declaring surplus property such as various power transformers and ballistic vests, and consideration of contracts with Cushing Municipal Authority and various SMT OKC entities for power purchase agreements. Furthermore, the Purchase Order Report totaling $8,545,523.60 was approved. Regular business included the approval of minutes for Special Board Meeting Minutes of October 9-10, 2025, and Regular Board Meeting Minutes of December 10, 2025. The CEO Report covered operations data, safety statistics, an announcement regarding changes to fleet vehicle mileage reporting, and a presentation of the 2025 Year in Review video. The Board approved a Power Cost Adjustment (PCA) of $0.02497 per kWh for February 2026. An update was provided on the GREC Unit No. 4 Project, noting 96.3 percent completion but ongoing schedule recovery efforts, and a contract for Insulation and Scaffolding Services with Integrated Service Company (InServ) was approved. An update on the Integrated Transmission Plan (ITP) highlighted significant projected cost increases for GRDA due to planned high-voltage transmission projects. Finally, the contract for the Salina Pumped Storage Project Penstock Flowmeter Replacement Project was awarded to Rittmeyer, LLC, and Board Policy No. 2-6 -- Fraud Risk Management Policy was approved on its second reading.

The meeting agenda included the review and potential vote on several items. Key discussions involved the Capital Work Order Report totaling $18,414,600 in gross work orders, with $8,385,346 being the net cost to GRDA after reimbursements. Other items for consideration included declaring certain equipment, specifically a transformer, as surplus; approval of contract amendments, including a Revocable License to Encroach, and consideration of a new Commercial Purchase Power and Sale Agreement with Mid America Fabricators, Inc. The Board also reviewed the CEO Cardholder Statement and the Purchase Order Report, which totaled $12,368,106.83 across standard purchase orders, contracts, change orders, and renewals. Regular business included discussion of the previous month's minutes, the CEO Report, approval of the Power Cost Adjustment (PCA) for March 2026, and updates on the GREC Unit No. 4 Project. The agenda included multiple proposed executive sessions concerning confidential legal matters, including ongoing investigations related to FERC Project No. 1494, specific lawsuits involving the City of Miami and Ronald E. Durbin, II, and matters pertaining to economic development.

The meeting commenced with the approval of the Capital Work Order Report, which totaled $3,530,388 across five projects, including the Maximo MAS 9 Upgrade/Migration and several GOAB Replacement Projects. The Consent Agenda included Resolutions of Commendation, the approval of six Interconnection and Facility Agreements with various entities (such as Public Service Company of Oklahoma and Collinsville Municipal Authority), a declaration of surplus equipment, and approval of a Purchase Order Report totaling $9,242,611.50. Key discussions on the Purchase Order Report involved the US Lime Company order and master contracts for power line construction materials. Under Regular Business, the board approved the Power Cost Adjustment (PCA) of $0.02457 per kWh for January 2026. Updates on the GREC Unit No. 4 Project showed it at eighty-three percent completion, projected for first fire target on February 6, 2026. The board approved an amendment to the Mechanical Construction Contract for GREC Unit No. 4 with Primoris Services Corp. to increase the execution margin from fifteen percent to twenty percent. Task Authorization 47 for Engineering Services for GREC Unit No. 2 with Black & Veatch, not-to-exceed $605,000, was approved to prepare for generator connection. The board also approved the Maximo Upgrade Agreement (PCPA-001154) with Starboard Consulting and StarMax AWS Hosting for $1,660,411.00. The Assets Committee recommended and the Board approved several Licenses to Encroach and permit/easement applications in Delaware and Mayes Counties. The Audit, Finance, Budget, Policy & Compliance Committee secured approval for the 2026-2027 Audit Plan and the 2026 Financial Budget.

The agenda for the Grand River Dam Authority Board of Directors meeting included the election of officers (Treasurer, Secretary, and Secretary Pro Tem). Key business items involved review and potential approval of the Capital Work Order Report, Resolutions of Commendation for Gerald W. Lacy and Joel R. Price, and declaring various power transformers and ballistic vests as surplus property. Contract considerations included a transformer purchase from Cushing Municipal Authority and a Power Purchase Agreement with several SMT OKC entities. The meeting also covered the Purchase Order Report, discussion on the Power Cost Adjustment for February 2026, project status updates (GREC Unit No. 4 and Salina Pumped Storage Project), and review of proposed Board Policy No. 2-6 (Fraud Risk Management Policy). Executive sessions were planned to discuss confidential legal matters concerning FERC Project No. 1494, the case of City of Miami et al. vs. GRDA, and a potential claim involving Ronald Durbin and Guerrilla Publishing.

The Special Meeting of the Board of Directors spanned two days, October 9 and October 10, 2025. Key discussions included an award presentation to a staff member for twenty-five years of service. Generation planning involved reviewing GRDA's diverse portfolio, objectives for resource planning (reliability, affordability, and environmental stewardship), and future capacity positions up to 2033. Updates were provided on the life extension of GREC Unit No. 2, including potential funding applications to the U.S. Department of Energy, and the engineering status of the proposed "Glencoe Energy Center," including site availability. The Board entered executive sessions to confer on confidential economic development matters. Additionally, a strategic planning report outlined GRDA's thinking, purpose, mission, and strategic commitments through 2030. The Enterprise Risk Report detailed the transition from silo risk management to a more comprehensive approach, identifying and ranking thirty-three significant risks against GRDA's objectives.