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Board Meeting Highlights

HIGHLIGHTS OF THE FEBRUARY 27, 2019 BOARD MEETING

In an effort to keep you informed of your Cooperative’s operations and activities,
the following are
highlights of the February 27 board meeting.

1. All directors were present along with CEO Steve Seibert and Administrative
    Assistant, Lisa Hinton.  
   Also present were Southern Indiana Power accountant Amy Ramsey, Earl Ridlen
   of the auditing firm LWG and John Wolfram of Catalyst Consulting, LLC.

2. The January 23, 2019 board meeting minutes were reviewed and approved.

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

4. Seibert reviewed the Hoosier Energy wholesale power cost tracker effective
    April 1, 2019.

5. As the first item of new business Earl Ridlen of LWG reviewed the 2018 audit
    report. The board approved the 2018 audit report as presented.

6. John Wolfram of Catalyst Consulting, LLC presented a cost of service & rate study
    for the boards consideration.

7.  The CEO report was presented with Seibert reporting the following items:

a. Seibert provided a Cooperatives One update.

b. Seibert reported he, board chairman Jeff Vogel and directors Gary Waninger
    & Randy Kleaving attended the LEDC annual meeting.

c. Seibert reported on a meeting with Riverview Energy.

d. Seibert informed the board of a Spencer County Chamber dinner on March 14.

e. Seibert reported a final draw for the 2014-2017 RUS workplan has been made.

f. Seibert informed the board the EAP moratorium ends March 15.

g. Seibert reported Hoosier Energy is offering a MSR HEATS program.

h. Seibert informed directors of upcoming meeting dates:  Operation Round Up
    board of trustees meeting March 6, NRECA annual meeting March 11-13,
    Operation Round Up board of trustees meeting March 14, Hoosier Energy
    annual meeting April 4 and NRECA Legislative conference April 28-30.

8. The board approved a request from Indiana Electric Cooperative for a corporate
    donation for 2019 FORE participation.

9. Brandon Gentry, training & safety specialist with Hoosier Energy conducted revenue
    metering skill improvement on January 30.  Chuck Tiemann, senior risk management/
    regulatory compliance at IEC performed basic life support, basic first aid, AED and
    bloodborne pathogen training on February 26. Seibert advised there were no lost time
    accidents and no public liability claims to report.

10. The board reviewed section 9 of the NRECA good governance task force report.

11. Seibert presented a Youth Tour Committee Report. Youth Tour attendees will be
      Kaylee Burden and Kaitlyn Sturgeon both from Perry Central. Touchstone Energy
      camp attendees will be Elijah Knepper, Mayci Litherland, Gabe Steckler and
      Hadley Leibering.

12. Director G. Waninger reported on a Hoosier Energy Board Meeting held February 19.

13. Director Kleaving reported on an IEC Board Meeting held February 20.

14. Chairman Vogel read a thank you note from SIRS.

15. Director Michelle Lynch tendered her resignation from the board of directors effective
      February 27, due to an employment conflict.   The open board seat will be filled by
      member votes cast at theApril 16 annual meeting.

16. The next two regularly scheduled Board of Directors meetings will be held
       Wednesday, March 27 and Wednesday, April 24.