Lane Electric - A Touchstone Energy Cooperative

07-25-16

Minutes of the Board of Directors’ Regular Meeting

July 25, 2016

 

The Lane Electric Cooperative, Inc. (LEC) Board of Directors convened its regular board meeting on

July 25, 2016 at the LEC corporate office at 787 Bailey Hill Road in Eugene Oregon.

 

Call to Order

President Christopher B. Seubert called to order the LEC Board regular monthly meeting around 9:00 am with a quorum present. Directors present were: Vice-President J. Ingrid Kessler, Secretary Hugh Buermann, Treasurer Susan Knudsen Obermeyer and directors Jack Billings, Kathy Keable, and Jerry Shorey.

 

Also present at different times in the meeting were: Charles N. Fadeley, LEC attorney (arrived at 9:00 am); Debi Wilson, Manager of Office & Staff Services; Cynthia Scoble, Controller; Andy Cave, IT Coordinator; and Tony Toncray, Manager of Engineering & Operations.

 

Executive Secretary Brenda Everts acted as recording secretary.

 

Member Input

None.

 

Approval of Agenda

President Seubert asked if there were additions or amendments to the agenda. President Seubert declared the agenda approved as presented.

 

Approval of Minutes

President Seubert asked if there were additions or corrections to the June 27, 2016 board meeting minutes.  President Seubert declared the June 27, 2016 board meeting minutes approved as presented.

 

Safety Report

Tony Toncray reported on the June and July inside Office safety meeting and the outside Construction and Maintenance safety meeting.  He also reported on the Employee Safety Performance graphs through June.  Director Billings will attend next month’s Office Safety meeting. Director Kessler will attend the next month’s Construction & Maintenance Safety meeting.

 

Construction Mid-Year Update

Tony Toncray gave a report on the construction and maintenance going on currently around the system.

 

Financial Report

Cynthia Scoble reported on LEC’s financial condition for the period ending June 2016. Discussion occurred.

 

Audit Services Interview Questions

Following last month’s discussion, Manager Wilson presented the additional interview questions to ask the various audit firms during interviews that will be conducted in August.

 

Key Ratios Trend Analysis

Manager Wilson reviewed the 2015 Key Ratio Trend Analysis (KRTA) from Cooperative Finance Corporation (CFC).  She explained the KRTA is prepared annually by CFC and is a comparative reflection of the financial performance of the previous year.  The analysis included 145 different financial ratios from Lane Electric along with other Oregon Cooperatives of similar size and by power supplier.

 

IT Update

Andy Cave, IT Coordinator, gave an update on Lane Electric’s network security.  Discussion followed regarding cyber security.

 

Policy Review

Manager Wilson presented three policies for review with an additional policy carried over from June for another review following suggested revisions by the Board.

 

Policy 100 (Director Duties & Standards of Conduct)

Policy 101 (Election of Officers)

Policy 200 (Employee Ethics & Code of Conduct)

Policy 403 (Renewable Energy Program Reserves)

 

Upon motion made and seconded, the Board adopted Policy 100 (Director Duties & Standards of Conduct) as amended in the board packet including replacing the word “annually” to “at least bi-annually” in Section III. F.

 

Upon motion made and seconded, the Board adopted Policy 101 (Election of Officers) as presented in the board packet. 

 

Upon motion made and seconded, the Board adopted Policy 200 (Employee Ethics & Code of Conduct) as presented in the board packet.

 

Upon motion made and seconded, the Board adopted Policy 403 (Renewable Energy Program Reserves) as presented in the board packet and removing the wording “in the assets of” from Section II -B. The Cooperative may use the funds to invest “in the assets of” a renewable energy project regardless of whether or not the output from the project is purchased directly by Lane Electric.

 

Reports

Director Reports: Directors offered comments on their recent activities.

 

ORECA: President Seubert reported on ORECA matters.

 

Manager’s Report: Manager Wilson reported on: High level review of BPA’s estimated rate increase and the various influences on it.  Items of note related to upcoming facilities improvements, status of the prepaid and Map Plus programs, information related to NISC regional training conducted at Lane Electric the previous week, status of the four-tens work week, and Creswell Chamber of Commerce update.

Donation Requests:

President Seubert presented one donation for consideration:

 

  • March of Dimes Walk for Babies

 

Motion made and seconded to donate $705.05 to the March of Dimes Walk for Babies.  Discussion followed. Motion made and seconded to amend the dollar amount to $1,000.  Discussion followed. The amendment motion to donate $1,000 to the March of Dimes Walk for Babies was approved.

Agenda Topics for August 2016

President Seubert reviewed next month’s agenda items.

Travel Check-In: Brenda Everts gave a travel and training update.

 

Action Review

Approval of the agenda, approval of the regular board meeting minutes, adopted Policy 100 (Election of Officers) with suggested amendments, adopted Policy 101 (Director Duties & Standards of Conduct) as presented, Adopted Policy 200 (Employee Ethics & Code of Conduct) as presented, adopted policy 403 (Renewable Energy Program Reserves) with suggested amendments, and donated $1,000 to March of Dimes Walk for Babies.

 

Executive Session

The directors along with Attorney Fadeley entered into executive session.

 

Adjournment

Being no further business to come before the Board, President Seubert adjourned the meeting at approximately 2:25 pm.