SPECIAL BOARD MEETING
August 27, 2024
A Special Meeting of the Board of Trustees of Newberry Electric Cooperative, Inc. was held at Newberry Electric Cooperative, Inc. located in Newberry County, State of South Carolina on Tuesday, August 27, 2024.
Chairman Johnnie Dickert called the meeting to order at 4:00 p.m., and all members were present including President and CEO G. Keith Avery.
Also present were Chief Financial Officer Arthur Guy, Accountant Lisa Wicker, Vice President of Human Resources Leann Hutto, Vice President of Marketing and Communications Debra Shaw, Vice President of Operations and Engineering Kevin Shull. Vice President of Operational Support Stephanie Sullivan, Vice President of Government and Public Relations Nick Shealy, Communications Specialist Jocelyn Dussault, Operations Support Tech Tara Chapman, and Attorney Thomas Pope, III. Regional Vice President of National Rural Utilities Cooperative Finance Corporation Hampton Oxendine, and two of his teammates, Daniel Gottschalk and Omar Abdullah were also in attendance. Executive Secretary Deirdre Murphy attended via WebEx.
Mr. Oxendine reviewed the 2023 Key Ratio Trend Analysis (KRTA). He stated that Newberry Electric has had a very good solid year. Mr. Gottschalk and Mr. Abdullah reviewed the Rate and Service studies, consisting of a revenue requirement study, cost of service and rate design options, utility pricing policy, and analytic overview with rate of return comparison. The trustees thanked the men for their hard work and presentations.
President and CEO Avery met with Rick Farmer and Brian Nash to discuss building a spec building in the Mid Carolina Commerce Park II. After presenting the information to trustees, the consensus was to accept this as information.
President Avery reviewed a letter from Senior Vice President and General Counsel of the ECSC Chris Koon, requesting contributions to a trustee at Palmetto Electric Cooperative, whose son has had a heart transplant. He was discharged from MUSC on July 30, but will need to stay nearby for several weeks for follow-up care. His recovery includes weekly doctor visits and bi-weekly cardio rehab sessions, which will continue for about a year (+/-).
Trustee Kesler made a motion to donate to the family. The motion was seconded and passed without opposition.
President Avery made a motion to request an Executive Session. The motion was seconded and passed unanimously. All who were not a trustee were asked to leave the meeting. No actions or voting took place during the Executive Session.
There being no further business and without objections, Chairman Johnnie L. Dickert adjourned the Special Board Meeting at 8:00 pm.
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SECRETARY APPROVED
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CHAIRMAN