REGULAR BOARD MEETING
February 24, 2025
The Regular 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 Monday, February 24, 2025.
Chairman Johnnie L. Dickert called the meeting to order at 5:07 p.m., followed by Trustee Leon Fulmer’s invocation, with the determination of a quorum present.
The secretary reported that the following Board Members were present:
Barbara C. Bishop Leon Fulmer, Jr. J. Craig Kesler
M. Blake Brigman Melanie B. Hawkins William Lominick, Sr.
Johnnie L. Dickert Douglas E. Hipp John W. Nichols
President and CEO G. Keith Avery, Attorney Thomas H. Pope, III, Chief Financial Officer Arthur Guy, Accounting Supervisor Lisa Wicker, William “Russ” Rountree, CPA for McNair, McLemore, Middlebrooks, & CO., and Executive Secretary Tara Chapman were also in attendance. Trustee Brigman attended the meeting by Webex.
The meeting proceeded with the reading and approval of the January 31, 2025, Regular Board Meeting Minutes. Trustee Hipp made a motion to approve the Board Meeting minutes as emailed. The motion was seconded and approved with a unanimous vote.
John Wayne Nichols, Chairman of the Finance Committee, reported that their regular meeting was held on Monday, February 17, 2025, at 6:30 p.m. Trustees Johnnie Dickert, Craig Kesler, William Lominick, and John Nichols are the committee members. All were present, along with the President and CEO, Avery.
Chairman Nichols reported that the Finance Committee reviewed cash disbursements for January 2025. All expenditures were in order, and the committee is presenting this report to the Board as general information.
Attorney Thomas H. Pope, III stated he needed an Executive Session. Trustee Hipp made a motion to go into Executive Session. The motion was seconded and passed without opposition. After some discussion, Trustee Kesler made a motion to return to Regular Session. The motion was seconded and passed without opposition. No actions or voting took place during the Executive Session.
President and CEO Avery reviewed the activities for the month. He attended the CEO Fly In held in Washington, D.C. Also, he, along with several Trustees and employees, attended the SC Electric Cooperatives Legislative Luncheon on the State House grounds in Columbia.
President and CEO Avery reviewed the operational data for February 2025 in detail. The amount of electric write offs for February is $2,823.62. A motion was made by Trustee Hipp to accept this amount. The motion was seconded and passed unanimously. The amount of fiber accident written offs for February is $2,118.35. A motion was made by Trustee Hipp to accept this amount. The motion was seconded and passed unanimously.
President and CEO Avery reviewed the month's Engineering and Operations and Operational Support reports. Engineering has completed a system-wide Hazard assessment conducted by Booth and Associates Engineering Co. that was performed due to Hurricane Helene. Groves Electric continues to assist with Hurricane Helene work orders. Hunter Black and Chandlor Williams have been promoted to A Class Lineman. Carolina Connect billed 6,676 accounts for the month.
Mr. Guy introduced William “Russ” Rountree, CPA for McNair, McLemore, Middlebrooks, & CO., and he delivered the results of the company audit ending December 31, 2024. Mr. Rountree stated that the Coop’s finances ended in accordance with accounting principles generally accepted by GAAP, and NEC received an unqualified opinion.
President and CEO Avery reminded the Board that the NRECA PowerXchange will be held on March 7 – 12, 2025. Six Trustees confirmed that they will be attending the conference.
President and CEO Avery reviewed dates for the upcoming NRECA Washington Legislative Rally, the ECSC Trustee Association Spring Meeting, and the ECSC Summer Conference.
The following meeting summaries from the Central Electric Power Cooperative, Inc. were accepted as information: Special Called Board Meeting on February 6, 2025, Special Called Member & Energy Services Committee Meeting on February 6, 2025, Member & Energy Committee Meeting on February 10, 2025, Finance, Audit, and Risk Committee Meeting on February 10, 2025, Engineering Committee Meeting on February 11, 2025, Power Committee Meeting on February 12, 2025 and the Executive Committee Meeting on February 13, 2025.
President Avery informed the Trustees of the 1st Cooperative Federal Credit Union’s Annual Meeting as well as the CEEUS Line Equipment Trade Show.
The board voted not to proceed with Central Electric Power Cooperatives, Inc. Class B Membership.
President and CEO Avery reviewed a resolution for the 2024 deferred revenue. Trustee Hipp made a motion to approve the resolution as written. The motion was seconded and passed unanimously.
President Avery reminded the trustees of the information needed for Annual Meeting shirts.
The Next Regular Board Meeting will be held on Monday, March 31, 2025, at 6:30 p.m.
There being no further business and without objections, Chairman Johnnie L. Dickert adjourned the October Regular Board Meeting at 7:01 p.m.
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SECRETARY APPROVED
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CHAIRMAN