December 2017 | Special Meeting
CORDOVA ELECTRIC COOPERATIVE, INC.
Chairman Pegau called the December 13, 2017 Special Meeting of the Board of Directors of Cordova Electric Cooperative to order at 6:00 p.m. Directors present were Cook, Faulkner, Wooden, and Little. Director Phillips and Cooper participated via teleconference. Also present were CEO Koplin, Manager of Administration and Finance Merritt, Executive Assistant/HR Coordinator Bailer (Recorder), Manager of Generation and Distribution Newlun, and Project and Technology Coordinator Kuntz.
The purpose of the special meeting is the presentation of the 2018 draft Budget.
Nate Cain was present.
APPROVAL OF AGENDA
Faulkner moved and Wooden seconded to approve the agenda. Roll Call Vote: Unanimous
GRID MODERNIZATION LABORATORY CONSORTIUM (GMLC) PRESENTATION
Koplin mentioned Rob Hovsapian with the Idaho National Laboratory was planning on being here to talk with the Board about the Grid Modernization Laboratory Consortium but due to travel scheduling he could not. Koplin mentioned the Resilient Alaskan Distribution System Improvements using Automation, Network Analysis, Control, and Energy Storage Project Kickoff meetings held in Cordova on December 11-12 and tour of the CEC Orca facility. Koplin showed a summary of the costs and spending of each participating entity and a discussion ensued.
2018 Draft Budget Presentation – Koplin reviewed CEC’s position and gave a summary of the budget approach and overview of management’s philosophy. Koplin and Merritt reviewed the Capital Budget, Operating and Maintenance Budget, and Detail Operating Budgets for 2018 and a discussion ensued. Merritt explained what the Budget would look like with a Capital Credit Retirement Projection showing a 1% and 2% allocation. When the presentation was completed staff asked how the Board would like to proceed with Capital Credits. Board directed staff to add a 1% payout for capital credits for the 2018 Budget.
Wooden said the Budget presentation was nice, put together well, and explained well.
Pegau appreciated the detailed budget information.
Little thanked staff for the presentation.
Cooper thanked staff for the presentation.
Faulkner appreciates staffs hard work.
Wooden moved and Little seconded to adjourn at 7:44 p.m.