Reed Christensen

The 87th Annual Membership Meeting included opening remarks, the presentation of door prizes, and an annual presentation from the General Manager covering the cooperative's 2024 financial performance, operational expenses, and future energy supply needs for the Pacific Northwest. The Audit Committee Chair presented the treasurer's report, confirming the 2024 audit presented fairly the financial position of KEC. The Board Chair addressed proposed bylaw changes related to definitions of close relatives, board candidacy qualifications, and the director code of conduct. Election results were reported for contested seats, and several bylaw proposals were voted upon and passed by the membership. The meeting concluded with the adjournment after declaring election winners and amended bylaws.

The meeting included a treasurer's report summarizing the cooperative's audit, a presentation on the cooperative's financial performance in 2019 and its response to the coronavirus pandemic, and a discussion about potential changes in how annual meetings could be held in the future. The election of directors for district 3 and district 4 was held, and the proposed bylaw changes were reviewed and declared amended.

The workshop reviews proposed changes to how the cooperative bills its members for electricity use. It covers the cooperative's operation on a not-for-profit basis, the role of the board of directors, and the cooperative's mission to provide exceptional service and reliable power at competitive rates. The discussion includes the utility's revenue requirements, cost classifications (fixed, energy, and demand), and the results of the most recent cost of service analysis (KOSA). The proposed rate design aims to preserve revenue neutrality while addressing rate equity among different rate classes and customers.

The annual meeting included updates on the cooperative's financial performance, growth, and future plans. The cooperative experienced exceptional growth and strong financial performance, with record revenues and margins. The cooperative is constructing a new headquarters in Rathdrum, which represents a significant investment in the cooperative's future. The cost of purchasing power has increased, and there are shortages of materials, which could place upward pressure on rates.

The meeting included a presentation on the new cooperative headquarters and a financial overview. Updates were provided on vegetation management, the Supervisory Control and Data Acquisition (SCADA) system, and a FEMA grant for undergrounding electrical lines. The treasurer's report summarized the cooperative's 2022 audit. The board chair's address focused on the state of the cooperative and the duties of the board of directors. The Nominating Committee reported on candidates for election to the board. The Credentials and Elections Committee reported on the election results.