by Kecia Wolf, President & CEO
The Board of Directors held meetings on November 28 to conduct its regular monthly Board Meeting to discuss and review several agenda items. During the meetings, they approved the Minutes of the last Board meeting and accepted the reports of the Attorney, President and Vice Presidents. In addition, Southwest Arkansas Telecommunication & Technology also held a regular Board Meeting.
Plans were discussed and approved for the 2023 Annual Meeting of Members scheduled for 1 p.m. Saturday, March 25. In addition, the prize money budget was also approved.
The Board was informed that the AECC Board of Directors approved a retirement of patronage capital in the about of $20 million and Southwest Arkansas Electric’s portion will be paid in January 2023.
Information was presented regarding the 2023 ACRE campaign.
The Board accepted a rebate check in the amount of $5,967.09 for the Cooperative’s involvement in the CFC One-Card Program.
It was reported that CFC’s Cooperative System Integrity Fund has a balance of $6,322,559.
Toth and Associates, consulting engineers for the Cooperative prepared an amendment to the current approved Construction Work Plan to make upgrades to the Midway Switching Station. The Board authorized the amendment.
The Board authorized Kecia Wolf as the Certifier for Rural Utilities Services and Stephen Vaughan was appointed as the Security Administrator on behalf of the Cooperative for RUS. In addition, the Chairman, Secretary and President were authorized to sign RUS forms in connection with the requisition of RUS or FFB loan funds.
The Cooperative was authorized to proceed with Phase III of the Fiber to the Home construction and implementation and the President was instructed to execute any and all contracts and documents associated with this portion of the Fiber project.
The Board accepted the IRS Form 990 prepared by the certified public accounting firm of FORVIS and authorized the President to execute any and all forms associated with the filing.
93 new member applications were approved making a total of 18,886 members to date.
No new business was discussed.