Menard Electric Cooperative

The Board received a legislative update regarding energy storage and efficiency initiatives and an overview of the political action committee. Procurement decisions included awarding the 2026 Electric System Construction Contract and the 2026 Power Line Right of Way Clearance and Vegetation Management Contract. The Manager's Report covered financial statements, outage statistics, safety reports, and member services. Additionally, the Board discussed the Illinois Finance Authority's Grid Resilience Grant, mutual aid responses to winter storms, and planning for the upcoming annual meeting, including by-law amendments and event themes.

The Board meeting agenda was amended to remove the Legislative Update from AIEC. Key actions included the approval of the amended agenda and the Consensus Agenda. The Board approved a proposed Resolution for 2026 Special Retirement of Capital Credits, with a maximum retirement of up to $250,000 for member estates. Discussions also covered adjustments to Equity to retain unclaimed Capital Credits retired in 2018, and the approval of a Service Area Agreement with Ameren, and a Consent and Crossing Agreement with Rockdale Solar LLC. Furthermore, a Resolution of Corporate Authorization was approved to modify the list of agents authorized to act on the Cooperative's account at Petefish Skiles & Co Bank. The Manager's Report for December 2025 was presented, detailing updates on the Construction Work Plan, financial statements (Operating Statement, Balance Sheet, Budget), LT Debt Maturity Schedule, 2025 inventory adjustment, net metered banked usage credits, and operational metrics showing 73 incidents and a longest outage duration of 318 minutes. Delegates were designated for the NRECA Annual Meeting. The Board also reviewed and adopted proposed changes to various Policies based on the Bylaw/Policy Committee's recommendation.

This document outlines strategic goals set by the Board of Directors for Menard Electric Cooperative, intended to be achieved over the next two to three years. Key areas of focus include improving rate structures to better serve future needs and accommodate new trends, implementing an electric vehicle program, developing cooperative-owned renewable resources with member education, evaluating participation in USDA Rural Economic Development Loan & Grant programs, creating a comprehensive technology roadmap, and continuing efforts to reduce system line loss. The plan aims to proactively prepare the cooperative for future scenarios and enhance operational direction.

The Board Highlights covered key activities from two meetings. In the March 26, 2024 session, discussions included an update on Strategic Planning Goal #1 concerning rate structures. The Board approved construction contracts with L.E. Meyers and a vegetation management contract with Wright Tree Service. They also authorized an audit certification form and adopted resolutions concerning bank authorizations for a new accounting staff member. Financial trends for February were reviewed, noting Operating Margins and equity levels. Operational reviews highlighted outage statistics and discussions covered potential solar farm impacts on irrigation services. The April 30, 2024 session focused on the presentation of the 2023 Financial Audit Report and approval to engage the auditor for the 2025 audits. An update on Strategic Planning Goal #2 regarding electric vehicle education was provided. Financial trends for March were reviewed, and the Board approved a restatement of two budget categories. They also advised on the Patronage Capital Allocation of 2023 margins from Prairie Power, Inc.

The board meeting included the approval of the Consensus Agenda. The CEO of Prairie Power, Inc. delivered a G&T presentation. Key financial discussions involved the proposed 2026 budget, resulting in the approval of Option A to increase rates and facility charges by 6% effective January 1, 2026. The board opted for no action on revising the 2025 revenue deferral plan and requested a complete waiver from payments under the 2026 revenue deferral plan. Banking resolutions concerning authorized account signatories and wire transaction approvals were ratified. Furthermore, a resolution pertaining to an amendment to the 401k plan for Group 2 employees was approved. The Manager's Report for October 2025 was accepted, detailing operational statistics, including 81 incidents and total member outage minutes of 172,767.43, and confirming all Operations employees achieved digger derrick boom operation certification with no injuries reported. Updates were provided on AIEC and Prairie Power, Inc. financials, and the Capital Credit Estate Refunds Report was presented. The board convened and later ratified actions taken during an Executive Session.