From the Boardroom – August 2021

by Dion Cooper, President & CEO

The Board of Directors held meetings on August 30 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

Amanda Strange, CPA of Baird, Kurtz & Dobson, discussed the Cooperative’s accounting records audit for the year ending September 30, 2021.

The Board of Directors authorized the Cooperative to employ a wage and salary consultant to update the Cooperative’s nonunion wage and salary schedule.

A payment for the Arkansas Public Service Commission dues was authorized for 2021

The Board reviewed the 2022 NRECA group employee benefit rates and authorized its renewal.

A payment for the NRECA annual dues was authorized.

The Board accepted the proposal submitted by MDR Construction Inc., for the 2021-2022 System Improvements Contract and authorized the one and one-half year contract with a maximum price of $1 million.

Changes to approved to the Cooperative’s FMLA policy to update the language for compliance with Federal guidelines.

The President reported that the Cooperative’s Retirement Security (RS) Plan contribution billing rate for 2022 increased 2.1% for group 001 and 0% for group 002.

The President reported that the Cooperative received a recognition from the Action Committee for Rural Electrification (ACRE) for 100% Board and Management participation in ACRE and for 100% Board membership in the Century Club.

The Board authorized the Cooperative to move forward with Phase II of its fiber project.

The Board approved 99 new member applications making the total number of members to date 18,745.

SWATT Agenda Items Reviewed and Actions Taken

SWATT doing business as Four States Fiber requested a Line of Credit  increase in the amount of $5 million from its parent company, Southwest Arkansas Electric Cooperative. The Cooperative approved the increase.

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