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Cordova Electric Cooperative

January 2019 – Special Meeting

CORDOVA ELECTRIC COOPERATIVE, INC.

SPECIAL MEETING JANUARY 6, 2019

Joe Cook called the January 6, 2019 Special Meeting of the Board of Directors of Cordova Electric Cooperative to order at 3:05 p.m. Directors present were Phillips, Faulkner Cooper and Johnson. Director Pegau participated via Go-To-Meeting and Director Srb participated via teleconference. Also present were CEO Koplin, Manager of Administration and Finance Merritt, and Manager of Generation and Distribution Newlun.

The purpose of the special meeting is the presentation of the 2019 draft Budget.

MEMBERSHIP PARTICIPATION

APPROVAL OF AGENDA

Phillips moved and Cooper seconded to approve the agenda. Voice Vote: Unanimous. Motion carried.

NEW BUSINESS

None

UNFINISHED BUSINESS

2019 Draft Budget Presentation – Koplin and Merritt reviewed the Capital Budget, Operating and Maintenance Budget, and Detail Operating Budgets for 2019 and a discussion ensued. Phillips moved and Cooper seconded to approve the 2019 Budget as presented. Voice vote: 6 yea, 1 nay (Pegau). Motion carried.

OTHER ITEMS

None

EXECUTIVE SESSION

None needed

BOARD COMMENTS

None

With no further business the meeting adjourned at 4:05 p.m.

___________________________ Date Approved Secretary/Treasurer

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NOTICE

The Power Cost Equalization (PCE) program is currently unfunded for the State’s fiscal year 2020. If not resolved by month end, electric bills for July usage may not receive PCE credit. Please be aware of this potential increase and, as always, continue to practice electrical conservation.