From the Boardroom May 2022

by Dion Cooper, President & CEO

The Board of Directors held meetings on May 26 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.

SWAECC Agenda Items Reviewed and Actions Taken

The Cooperative was authorized to allocate 2021 capital credits in the amount of $4,786,945.

The President reported that Magician Scott Davis reinstated the live safety magic show presentations at area schools at the end of the spring semester and plans to continue them during the 2022-2023 school year.

The Board reviewed and accepted the information on the Cooperative’s Semi-Annual Interest Payment provided by CFC.

The Board authorized CFC to deduct 5% of the Cooperative’s 2022 Patronage Capital Refund, not to exceed $4,000, for the CFC Cooperative System Integrity Fund.

A $500 contribution to the Nashville Chamber of Commerce Stand up for American July 4th event was approved.

The Board authorized a donation of $200 to the Cooperative’s three Youth Tour Delegates for 2022.

The Cooperative recently received a $1,000 donation from Today’s Power, Inc., to be used for a scholarship. The Board authorized the Cooperative to set up a scholarship fund and match the donation received from TPI to create a $2,000 scholarship awarded annually to a graduating senior selected from applications submitted by children or grandchildren of its members. Children and grandchildren of employees will also be eligible to apply. The scholarship will be known as “Don Stemple Scholarship Fund,” in honor of the Cooperative’s longest serving Board Member.

The Board authorized the amendment, restatement and continuance of its Retirement Security (RS) Plan and its 401(k) Pension Plan as required by NRECA.

The Board selected the President/CEO as Voting Delegate for the CFC Annual Membership Meeting and the NCSC Annual Meeting.

The Board approved 101 new member applications making the total number of members to date 18,832.

SWATT Agenda Items Reviewed and Actions Taken

The President presented several updates including future fiber installation, current pre-registrations for service and on general funding and grants.

The Board authorized the amendment, restatement and continuance of Four State’s Fiber’s 401(k) pension Plan as required by NRECA.

Lineman Training Scholarship Winners Announced

William Zane Abney, a graduate of Ashdown High School and son of Toni Tackett and Billy Abney; and Hayden Linville, a graduate of Nashville High School and son of Eva Linville and Jeremy Linville, were recently awarded Lineman Training Scholarships from Southwest Arkansas Electric Cooperative to Arkansas State University-Newport. The scholarships are valued at $3,500 and cover books and tuition.

From the Boardroom – April 2022

by Dion Cooper, President & CEO

The Board of Directors held meetings on April 25 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.

SWAECC Agenda Items Reviewed and Actions Taken

Thomas & Thomas presented their report regarding the mailing and receipt of Proxy cards and the official notice of meeting, notice to members and the annual report. The Board accepted the report and authorized the acceptance of three proxies that were questionable and rejected all proxies that did not have a valid signature.

The Board reviewed and accepted charge-offs of inactive accounts with balances greater than zero and a discontinued date prior to September 15, 2020.

The Board authorized a payment of Approximately $1,548,222 for the 2022 property taxes.

The Board authorized the Cooperative to make a contribution of $1,000 to the NRECA International Foundation.

The Board reviewed and accepted the report of the Cooperative’s Identity Theft Prevention Program and the Privacy of Nonpublic Personal Information policies. In addition, the Board approved the changes to the Anti-Harassment Policy.

A lead sponsorship was authorized for the annual Ashgrove Charity Golf Tournament.

A donation of $500 was approved for the Center Point Volunteer Fire Department.

The Board named the President/CEO as an authorized representative of the Cooperative to purchase real property and execute, affirm or sign any documents required in connection with said purchases of real property.

The Board approved 91 new member applications making the total number of members to date 18,834.

SWATT Agenda Items Reviewed and Actions Taken

The President presented several updates including future fiber installation, current pre-registrations for service and on general funding and grants.

From the Boardroom – February 2022

by Dion Cooper, President & CEO

The Board of Directors held meetings on February 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.

SWAECC Agenda Items Reviewed and Actions Taken

The Cooperative’s attorney reviewed the Conflict of Interest, Director Duties and Standards of Conduct and the Whistleblower policies with the Board of Directors and Cooperative officers and Board Members signed the Conflict of Interest Certification.

The President prepared the annual CFC Officer’s Compliance Certification and the Board ratified the president’s completion of the worksheet and certification for 2021.

The Board authorized the Cooperative to pay the premium amount due to Arkansas rural Electric Self-Insurance Trust.

The President reported on the date and place for NRECA’s 2022 Legislative Conference.

The Board ratified the new date of April 25 for the 2022 Annual Meeting of Members.

The Board approved 86 new member applications making the total number of members to date 18,803.

SWATT Agenda Items Reviewed and Actions Taken

The President presented several updates including future fiber installation, current pre-registrations for service and on general funding and grants.

From the Boardroom – January 2022

by Dion Cooper, President & CEO

The Board of Directors held meetings on January 31 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.

SWAECC Agenda Items Reviewed and Actions Taken

The Board of Directors authorized the Cooperative to continue its support of Touchstone Energy through the payment of its annual dues.

The Board confirmed the changed in the March regular Board Meeting date and time to March 26, 2022, at 10 a.m. to coincide with the Annual Meeting scheduled for Saturday, March 26, 2022, at 1 p.m. at the Headquarters Building.

The Board appointed a Nominating Committee consisting of Russell Pendergraft, Tommy Isbell, Jim Alford, Don Stemple, Alan Green, Jamie Stevens, Andy Youngblood and Warren Plyler. The committee met during a short recess and upon the meeting being called back to order, the committee reported that it would place into nomination Rickie Barnard of Columbia County.

The Board authorized the chairman to sign RUS Form 266 as an acknowledgement and support of the form’s guidelines, rules and laws.

The Board accepted the distribution amount of $33,208.71 from Arkansas Electric Cooperative, Inc.

The President reported that Arkansas Electric Cooperative Corporation is allocating Patronage Capital for the fiscal year ending October 31, 2021, in the amount of $16,622,020. SWAECC’s portion is $820,959.13.

The Board accepted the patronage credit allocation from NISC in the amount of $26,814.11.

The President reported that $4,181,418.28 of the $5 million in Capital Credit checks issued by the Cooperative in December have been cashed by the Membership.

The Board authorized a donation of $1,500 to the Arkansas Independent Colleges and Universities.

The President was selected to serve as the voting delegate at the 2022 NRTC Annual Meeting.

Vice Chairman Warren Plyler and Chairman Russell Pendergraft were selected to serve as the 2022 Voting Delegate and Alternate Voting Delegate, respectively, during the 2022 PowerXchange Annual Meeting.

The Board authorized changes to be made to the Cooperative’s Interconnection of Distributed Resources Net Metering Policy and for those changes to be reviewed in a future meeting.

The Board approved 95 new member applications making the total number of members to date 18,782.

SWATT Agenda Items Reviewed and Actions Taken

The President presented several updates including future fiber installation, current pre-registrations for service and RDOF.

From the Boardroom – December 2021

by Dion Cooper, President & CEO

The Board of Directors held meetings on December 27 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.

SWAECC Agenda Items Reviewed and Actions Taken

The Board of Directors reviewed and accepted the audit report for the year ending September 30, 2021, prepared by Baird, Kurtz & Dobson.

Special Service Contracts for 2022 were approved with 10 contractors for a total budget of $3,550,000.

Plans for the March 26, 2022, Annual Meeting of Members were reviewed and the President was authorized to proceed with the necessary preparations.

Regular Board Meeting dates were approved for 2022.

The President reported that the Arkansas Rural Electric Self-Insurance Trust applied the Cooperative’s portion of the dividend for the 2018 fund year toward the 2019 and 2020 assessments.

The Board reviewed and authorized the Cooperative’s 2022 Strategic Plan.

The Board authorized the Cooperative to include photos and basic information about the directors on its Website.

A contribution of $1,000 was authorized for the Arkansas Rural Development group as a means of being more active in the statewide political races.

The President was selected to serve as the NRTC Voting Delegate for 2022.

The Board approved the Loan agreement and other documents provided by the National Rural Utilities Cooperative Finance Corporation.

The Board approved 92 new member applications making the total number of members to date 18,780.

SWATT Agenda Items Reviewed and Actions Taken

The President presented several updates including future fiber installation, current pre-registrations for service and RDOF.

From the Boardroom – September 2021

by Dion Cooper, President & CEO

The Board of Directors held meetings on September 27 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.

SWAECC Agenda Items Reviewed and Actions Taken

Southwest Arkansas Electric Cooperative’s portion of CFC’s patronage capital retirement allocation and payment was $83,786.98.

The Board authorized the Cooperative to declare payable $5 million that includes portions of 1988, 1989 and 2020 allocated capital credits.

The President reported that the Cooperative received a payment of capital credits from AECI in the amount of $46,447.60 for allocations made in 2020, 1998 and 1999 and that AECI will pay $14.4 million in ERMCO common stock dividends divided equally between the distribution cooperatives. SWAECC’s share equals $504,007.

The Board reviewed and approved the Cooperatives 2021 Power Requirements Study Annual Update as prepared by Arkansas Electric Cooperative Corporation.

The President was selected to serve as the Voting Delegate for the Cooperative at the 2021 Touchstone energy Annual Electronic Business Meeting and Board of Directors elections scheduled for December.

The Board approved the new DOT Drug Testing Policy and made it a part of the Cooperative’s official Personnel Policy.

The Board authorized a contract between Service Electric Company and the Cooperative for Primary Construction at the De Queen and Lockesburg South Substations.

The Board reviewed the Cooperative’s IRS Form 990 prepared by Baird, Kurtz & Dobson and authorized the President to execute all documents.

Director Tommy Isbell was selected as the voting Delegate and Director Jim Alford was selected as the alternate voting delegate for the CFC Region 8 meeting in Dallas, Texas.

The Board approved 99 new member applications making the total number of members to date 18,751.

SWATT Agenda Items Reviewed and Actions Taken

The President presented several updates including future fiber installation, current pre-registrations for service, RDOF and the Arkansas Broadband Summit.