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.