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Board Meeting Highlights

HIGHLIGHTS OF THE NOVEMBER 20, 2019 BOARD MEETING

In an effort to keep you informed of your Cooperative’s operations and activities,
the following are highlights of the November 20 board meeting.

1. All directors were present along with President/CEO Steve Seibert and
    Administrative Assistant Lisa Hinton. 

2. The October 30 board meeting minutes were reviewed and approved.

3. The membership certificates and vouchers were reviewed and approved.

4. The director report was reviewed and approved.

5. Seibert reviewed the Hoosier Energy Wholesale Power Cost Tracker and its
    impact on the co-ops financial position. No changes will be made to the tracker
    at this time.

6. Seibert provided directors an update on the FTTH/broadband project with PSC. 
    Make-ready reports are being finalized and a buildout timeline is being established.

7. A director system tour has been scheduled for January.

8. The CEO report was the first item of new business with Seibert reporting the
    following items:

    a. Seibert and Director Randy Kleaving attended an IEC legislative dinner on
        November 18.

    b. Seibert reported capital credit retirement checks for 1994 were mailed
        November 5. The notice of unclaimed funds for 1990-1992 will be
        published on November 25.  Unclaimed funds from 1979-1983 become
        permanent equity of the cooperative as of December 1.

   c. Seibert informed the board the co-op participated in projects at Perry
      Central and Nancy Hanks schools for the IEC Community Day on November 1.

   d. Seibert reported Hoosier Energy CEO Donna Walker visited Southern
       Indiana Power on November 20. Walker plans to attend the Jan. 29, 2020
       board meeting as well.

   e. Seibert reviewed the following upcoming meeting dates: IEC Annual
       Meeting December 9-10, employee Christmas party December 14,
       NRECA CEO Conference January 12-15, and NRECA Annual Meeting
       March 1-4.

9. Seibert reported a safety meeting is scheduled for Thursday, November 21. 
    Seibert advised there were no lost time accidents and no public liability claims
    to report.

10. Seibert and the board discussed the cooperatives next strategic planning
      session.  The board determined the next strategic planning session will
      be held in 2021.

11. A budget committee meeting has been scheduled for Monday, December 16.

12. Chairman Jeff Vogel was selected delegate and Director Gary Waninger
      alternate for the NRECA annual meeting to be held March 1-4, 2020.

13. Director G. Waninger was selected delegate and Chairman Vogel alternate
      to the NRUCFC annual meeting to be held in conjunction with the NRECA
      annual meeting.

14. Director G. Waninger reported on a Hoosier Energy Board Meeting held
      November 13.

15. Director training information was provided to the board.

16. The next regularly scheduled Board of Directors meeting will be held
      Wednesday, December 18.