POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON NOVEMBER 18, 2019

A regular meeting of the board of directors was called to order on Monday, November 18, 2019, at 8 a.m.  Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson and Jeff Traynor, were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux, system counsel.  Cindy Thorman was absent.  Guests included Todd Schulte, member services manager, Joan O’Fallon, communications director, Ed Johansen, operations manager, Heather Gerber, manager of finance and accounting and Rick Kosloski, manager of rights-of-way/warehouse/safety.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of October 31, 2019 were approved.  The board authorized the summary of the October board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for October 2019.  They were reviewed and discussed.
• The board wrote-off bad debt electric accounts in the amount of $868.42.
• The board approved the amendments and review of policies E-7:  Expenditure Control, E-25:  Computer, Email and Internet Acceptable Use, E-27:  Response Requirements for Operations Department Standby Personnel, E-28:  Software Licensing and Use and E-29:  Light Duty.
• The board approved discontinuing policy E-20:  Participation in International Program for Electric Distribution.
• Directors reviewed the director election timeline.  Districts 1, 2 and 3 are up for election in 2020.  Applications must be received by March 6, 2020 to be placed on the ballot.  The cooperative will have a hybrid election this year giving members the ability to vote electronically or vote by paper ballot.
• The board approved the following dates for regular board meetings in 2020:  January 27, February 24, March 23, April 20, May 18, June 22, July 27, August 24, September 28, October 26, November 30 and December 21. 
• Delegates were selected for the NRECA annual meeting in New Orleans, LA, March 1-4, 2020.
• Directors watched a video titled Navigating Difficult Ethical Issues.
• The board was presented information on the HVAC upgrade to the Centuria headquarters building.
• The board was presented information on the third generation of Advanced Metering Infrastructure (AMI) systems being analyzed at the cooperative.
• Directors received an overview of the 2020 budget that will be considered at the December board meeting.
• Directors received a report from the general manager.
• Directors received a report from the Polk-Burnett Propane Services, Inc. quarterly board meeting.
• The board received a report from those that attended various conferences and education seminars.
• Directors received a report from the system counsel.
• Director expenses were approved.
• The next regular meeting is combined with the budget meeting and is scheduled for December 16, 2019.
• The meeting adjourned at 12:21 p.m.   

POLK-BURNETT ELECTRIC COOPERATIVE

USUMMARY OF THE BOARD OF DIRECTORS MEETING ON OCTOBER 31, 2019

A regular meeting of the board of directors was called to order on Thursday, October 31, 2019, at 8 a.m. at the Centuria office.  Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson and Cindy Thorman were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel.   Jeff Traynor was absent.  Guests included Heather Gerber, manager of finance and accounting, Ed Johansen, operations manager, Jarod Boerst, power distribution engineer, Todd Schulte, member service manager and Matt Kurtzhals, IT manager.  Joe Harrison, Bauman & Associates, joined the board via conference call.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of September 23, 2019 were approved.  The board authorized the summary of the September board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for September 2019.  They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $1,535.30.
• The board approved the amendment and review of policies E-18: Education Assistance, E-22, Travel Time and E-24:  Proactive Performance Coaching and Disciplinary Action Model and approve the discontinuation of policy E-23:  Employee Use of Cooperative Equipment Facilities.
• Per bylaw requirements, the board reviewed the district counts and discussed Policy BD-19 – Redistricting Guidelines. After a great deal of discussion on five options that moved towns to different districts in an attempt to make each district contain as nearly as possible the same number of members, the board took action to increase the threshold from 4% to 8% in Policy BD-19:  Redistricting Guidelines.
• Directors selected Friday, June 5, 2020 as the date for 82^nd annual meeting.
• Acting as the audit committee, the board met with the auditor, via teleconference, to discuss the 2019 audit.
• The board approved the 2020 Construction Work Plan.  Cold weather drove sales/demand with the highest annual sales ever, in fact twelve substations set new winter peaks. Lowest system losses on record and has been a steady downward trend since 2010.  There is low growth in commercial and industrial sections.  There has been some promising development with expansion projects at campgrounds and farms. No new subdivisions have been constructed, but houses are being built in existing subdivisions.  Approximately 40.9 miles of identified line construction is considered in the work plan and was primarily based on condition of poles/age of overhead conductor, condition of underground line, difficult right-of-way, back-up between substations and storm hardening.  The work plan includes improvements and upgrades to Polk-Burnett’s electric system which would include pole replacements, upgrades of overhead and underground cables, reclosers, voltage regulators, metering devices and other planned or unplanned construction. Total miles of underground line are more than overhead miles of line (for the first time ever).  Overhead to underground conversions overlap with pole rejects and small conductor replacements and will assist in storm hardening.
• Directors received a report on the 2020 action plans included in the Strategy Execution program that will be included in the 2020 budget.
• The board discussed the banking relationship with Bremer Bank.
• The voting delegate for the Wisconsin Electric Cooperative Association annual meeting was directed to vote in favor of the bylaw amendment to increase the districts from three to four.
• Directors received a report from the general manager/CEO.
• Directors received a report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• Directors held an executive session to discuss the general manager/CEO performance evaluation.
• The next regular meeting is scheduled for November 18, 2019.

The meeting adjourned at 2 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE 

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON SEPTEMBER 23, 2019

A regular meeting of the board of directors was called to order on Monday, September 23, 2019, at 8 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel.  Guests included Heather Gerber, manager of finance and accounting and Joan O’Fallon, communications director.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of August 26, 2019 were approved. The board authorized the summary of the August board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $171.
• The board acknowledged receipt of financials for August 2019. They were reviewed and discussed by the board.
• The board approved amendments and the review of policies, E-12:  Safety Glasses (non-union employees), E-13:  Fringe Benefits and E-15:  Business Use of Cooperative Vehicles.
• Management presented a variety of the ratios in the 2018 Key Ratio Trend Analysis’ (KRTAs) to the board.  The board received copies of the 2018 KRTA’s comparing all electric cooperatives regardless of being a 100% CFC borrower. Information in KRTA’s is based on data from annual Form 7 financial reports of over 800 electric distribution cooperatives.
• Management presented information on cooperative governance challenges.  Cooperative governce discussions will continue at upcoming board meetings.
• The board appointed a WECA annual meeting voting delegate.
• Directors received a report from the general manager.
• Directors received a report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for Monday, October 28, 2019 at the Centuria office.
• The meeting adjourned at 11:50 a.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON AUGUST 26, 2019

A regular meeting of the board of directors was called to order on Monday, August 26, 2019, at 8 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel.  Guests included Susan Huerstel, accountant, Todd Schulte, member services manager, Rebekah Lindner, customer services manager and Joan O’Fallon, communications director.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of July 29, 2019 were approved. The board authorized the summary of the July board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for July 2019. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $2,163.85.
• The board approved the review/amendments to policies E-3:  Use of Mobile Electronic Devices at Work, E-7:  Expenditure Control, E-9:  Employee Assistance Program, E-10:  Job Training & Safety and E-11:  Automatic Vehicle Location (AVL) Acceptable Use. 
• The board approved a budget amendment for right-of-way clean-up and debris removal from July storm damage.
• The board approved the retirement of 2.5% of unretired capital credits and the generation and transmission capital credits received from Dairyland Power Cooperative.
• The member services manager presented a report on the Identity Theft Prevention Program (Red Flags).  The program is in place to assist cooperative personnel to identify, detect and prevent the theft of members’ personal information.
• The board reviewed and discussed the 2020 strategic plan.
• Directors received a report from the general manager.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received a report from the system counsel.
• Directors received a report on the Polk-Burnett Propane Services, Inc., quarterly board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for Monday, September 23, 2019.
• The meeting adjourned at 11:50 a.m.

 POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON JULY 29, 2019

A regular meeting of the board of directors was called to order on Monday, July 29, 2019, at 8 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Tim Laux, system counsel, Steve Stroshane, general manager/CEO and Stacy Bergmann, executive assistant/HR administrator.  Guests included Heather Gerber, manager of finance and accounting.

DISCUSSION/ACTION ITEMS

• The July board meeting was rescheduled from July 22 to July 29 due to the severe storm that affected Polk-Burnett service territory.  Steve Stroshane, general manager, shared photos and provided a report on the recent outages from a severe storm that impacted our service territory on July 19.  Crews from 11 electric cooperatives and three contractors were working on our system for eight days.
• The minutes from the regular and organizational meetings of June 24, 2019 were received. The board authorized the summary of the June board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for June 2019. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $756.40.
• The board approved the review/amendments to policies E-1:  Employment Practices, E-4:  Employee’s Loss of Driver’s License or Insurability, E-5:  Overtime Pay and E-6:  Student Job Shadowing. 
• The board watched a presentation on Polk-Burnett’s equity management plan.
• The board tabled the retirement of 2.5% of unretired capital credits and the generation and transmission capital credits received from Dairyland Power Cooperative.  The board will take action in August after reviewing the recent storm damage totals.
• The board heard a presentation on present battery storage technology, applications and impacts to Polk-Burnett’s business model.
• Directors received a report from the general manager.
• Directors received a legal report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for August 26, 2019.
• The meeting adjourned at 11:55 a.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON JUNE 24, 2019

A regular meeting of the board of directors was called to order on Monday, June 24, 2019, at 8:05 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel.  Guests included Heather Gerber, manager of finance and accounting, Todd Schulte, member services manager and Joan O’Fallon, communications director.

DISCUSSION/ACTION ITEMS

• An organizational meeting took place to elect board officers for the 2019-2020 term.  Ed Gullickson was elected president, Mike Morris was elected vice president and Chuck Brookshaw was elected secretary/treasurer.
• The minutes from the regular meeting of May 20, 2019 were approved. The board authorized the summary of the May board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for May 2019. They were reviewed and discussed by the board. The electric cooperative received at $125,000 dividend from Polk-Burnett Propane Services, Inc.
• The board wrote-off bad debt electric accounts in the amount of $970.
• The approved the review and/or amendments to policies M-36:  Motor Starting Currents, M-38: Member Changes to Cooperative Facilities, M-40:  Member Requests for Specific Type of Primary Line Construction, M-42:  Rate Schedule and M-43:  Water Heater Services.  Policies can be found under My Co-op at www.polkburentt.com.
• The board acknowledged the 2018 Form 990.  The 990 is the tax return for organizations exempt from income tax.
• The board conducted the annual review and signed a Director Pledge reaffirming their responsibility and commitment to uphold the highest standards for legal and ethical conduct.
• The board approved the 2020 Scholarship Program to award $1,250 scholarship to 54 high school seniors and two Youth Tour trips. 
• Directors selected a delegate for the WECA District 3 meeting.
• Directors received a report from the general manager. 
• Directors received a report of the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The board recessed to conduct annual meetings of Polk-Burnett Charities, Inc. and Polk-Burnett Diversified Services, Inc.
• The next regular meeting of the board is scheduled for July 22, 2019.
• The meeting adjourned at 11:45 p.m.

 POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON MAY 20, 2019

A regular meeting of the board of directors was called to order on Monday, May 20, 2019, at 8 a.m. at the Centuria office.  Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/ HR administrator and Tim Laux, system counsel.  Guests included Heather Gerber, manager of finance and accounting, Joan O’Fallon, communications director, Ed Johansen, operations manager, Matt Kurtzhals, IT manager and Todd Schulte, member services manager.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of April 22, 2019 were approved. The board authorized the summary of the April board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for April 2019. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $779.51.
• The board approved the review and/or minor amendments to policies M-32:  Distributed Generation, M-33:  Disposition of Offers to Acquire All or Substantially All of the Cooperative’s Assets, M-34: Non-Metered (Idle) Services and Policy M-35:  House Moves.  Policies can be found under My Co-op at www.polkburnett.com.
• The board reviewed the 2018 990 and 990T tax forms prepared by the CPA firm Bauman & Associates.  The 990 is the tax return for organizations exempt from income tax.
• The board took action to not contribute to the CFC Integrity Fund in 2019.
• Plans for the 81^st annual meeting on June 7 were discussed.
• A Dairyland Power Cooperative bylaw amendment was discussed.
• Ben Porath, Dairyland Power Cooperative vice president power delivery, attended the board meeting to hear thoughts, comments and feedback from the board.
• Directors received a report from the general manager. 
• Directors received a report of the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received a report on the Polk-Burnett Propane Services, Inc. quarterly board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The 81^st annual meeting will be held on Friday, June 7, 2017 at Polk-Burnett headquarters in Centuria.
• The next regular meeting of the board is scheduled for Monday, June 24, 2019.
• The meeting adjourned at 12:30 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

 SUMMARY OF THE BOARD OF DIRECTORS MEETING ON APRIL 22, 2019

A regular meeting of the board of directors was called to order on Monday, April 22, 2019, at 8 a.m. at the Centuria office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux, system counsel. Guests included Heather Gerber, manager of finance and accounting, Matt Kurtzhals, IT manager, Ed Johansen, operations manager, Jarod Boerst, power distribution engineer and Susan Huerstel, accountant.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of March 25, 2019 were approved. The board authorized the summary of the March board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $982.22.
• The board acknowledged receipt of financials for March 2019. They were reviewed and discussed by the board.
• The board approved the review and amendments to policies M-30:  Third Party Disconnect Notice, M-31:  Right-of-Way Maintenance Program and M-39:  Farm Rewiring Grant Program.  Policies can be viewed under My Coop at www.polkburnett.com.
• The board approved amendments to the lease and easement between Polk-Burnett Electric Cooperative and Polk-Burnett Propane Services, Inc.
• Directors received information on the cooperative’s debt portfolio and investments from the manager of finance and accounting.
• The power distribution engineer presented the actual overall costs from the 2018 construction work plan.
• Directors received an Information Technology (IT) security update from the IT manager.
• The general manager presented Polk-Burnett’s sales trends throughout the years for residential, seasonal, small commercial and large commercial members.
• Directors received the results of the employee engagement survey from the executive assistant/HR administrator.
• Directors received a report from the general manager.
• Directors received a report from system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for May 20, 2019.
• The meeting adjourned at noon.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON MARCH 25, 2019

A regular meeting of the board of directors was called to order on Monday, March 25, 2019, at 8 a.m. at the Centuria office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor, were present, along with Steve Stroshane, general manager/CEO, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Mike Morris was absent.  Guests included Joan O’Fallon, communications director, Heather Gerber, manager of finance and accounting, Susan Huerstel, accountant, Ed Johansen, operations manager, Rick Kosloski, manager, rights-of-way/warehouse/safety, Jarod Boerst, power distribution engineer, Gus Peterson, engineering intern and Jeff Springer, DPC Manager of Energy Efficiency and Technical Services.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of February 25, 2019 were received. The board authorized the summary of the February board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $497.88.
• The board acknowledged receipt of financials for February 2019. They were reviewed and discussed by the board.
• A presentation on the HPS to LED security light replacement project was given by the engineering intern.
• The accountant presented information on 2018 financial ratios showing steady, positive trends with very little growth to the electric membership.
• The board acknowledged receipt of the Federated Safety & Loss Prevention Assessment conducted on February 11, 2019.
• Directors reviewed and approved amendments to policies M-24:  Member Requests for Cooperative Records, M-26:  Neutral to Earth Voltages (Stray Voltage) at Livestock Facilities and M-27:  Disposal of Used Poles.  Policies can be found under My Co-op at www.polkburnett.com.
• A new policy, M-28:  Smart/AMI Meter Relocation or Opt-Out, was adopted by the board.
• The operations manager presented information from the 2019 power reliability report and the manager, rights-of-way/warehouse/safety followed with an update on the right-of-way aerial/mowing maintenance and herbicide programs.
• Jeff Springer, Manager of Energy Efficiency and Technical Services at Dairyland Power Cooperative, joined the board for a presentation on transportation electrification providing history on the evolution of transposition and the return of electric vehicles.
• All directors were appointed as delegates to the DPC annual meeting on June 5, 2019.
• Ed Gullickson was nominated as the DPC director and Joe Metro as the alternate.
• Directors received a report from the general manager.
• Directors received a report from system counsel.
• Directors received a report on the DPC board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for April 22, 2019.
• The meeting adjourned at 11:43 a.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON FEBRUARY 25, 2019

A regular meeting of the board of directors was called to order on Monday, February 25, 2019, at 9 a.m. at the Centuria office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Tom Swenson was absent.  Guests included Heather Gerber, manager of finance and accounting, Susan Huerstel, accountant, Todd Schulte, member services manager, Rebekah Lindner, customer services manager, Joan O’Fallon, communication director and Joe Harrison, Bauman Associates.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of January 25, 2019 were approved. The board authorized the summary of the January board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $1, 081.67
• The board acknowledged receipt of financials for January 2019. They were reviewed and discussed by the board.
• A budget amendment was approved for $23,000 of right-of-way expenses that should have been paid in 2018 but were paid in 2019.
• Directors reviewed and approved amendments to policies M-23:  Facility Relocation Due to Roadway Improvements and M-25:  Energy Conservation and Load Management.  Policies can be found under About Us at www.polkburnett.com.
• The customer services manager presented results from the 2018 transactional surveys.  Overall results and feedback collected were positive and encouraging.
• Directors discussed plans for the combined 81st annual meeting/member appreciation day event being held on Friday, June 7 at the Centuria headquarters.  An open house is planned from 1 to 3 p.m. and the annual meeting is from 3 to 4 p.m.
• Auditor, Joe Harrison, Bauman Associates, presented the 2018 consolidated financial statements for Polk-Burnett Electric Cooperative and Subsidiaries to the board of directors.  In the opinion of the auditor, the consolidated financial statements present fairly, in all material respects, the financial position of Polk-Burnett Electric Cooperative and Subsidiaries as of December 31, 2018 and 2017 and the results of operations and cash flows for the years then ended are in conformity with generally accepted accounting principles in the United State of America.  A copy of the consolidated audit report for 2018 is placed under About Us at www.polkburnett.com.
• A delegate was selected for the WECA Education & Lobby Days.
• Directors received a report from the general manager.
• Directors received a report from system counsel.
• Directors received a report from the Polk-Burnett Propane Services, Inc. quarterly board meeting.
• Directors received a report on the Dairyland Power Cooperative.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for March 25, 2019.
• The meeting adjourned at 12:40 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

USUMMARY OF THE BOARD OF DIRECTORS MEETING ON JANUARY 28, 2019

A regular meeting of the Board of Directors was called to order on Monday, January 28, 2019, at 9 a.m. at the Siren office.  Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel.  Guests included, Heather Gerber, manager of finance and accounting, Todd Schulte, member services manager and Joan O’Fallon, communications director.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of December 17, 2018 were approved.  The board authorized the summary of the December board meeting minutes to be placed on the website.
• The board acknowledged receipt of the preliminary financials for December 2018.  They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $1,158.39.
• The board reviewed and approved amendments to policies M-19:  Theft/Tampering with Cooperative Facilities, M-20: Theft of Electricity, M-21:  Use of Cooperative Material, Equipment & Personnel and M-22:  Capital Credit Allocations and Distribution.  Policies can be located under About Us at www.polkburnett.com.
• The board selected the 2019 scholarship award recipients.  Polk-Burnett received a total of 80 applications.  Five high school seniors participated in the Youth Tour essay contest and two will attend the 2019 NRECA Youth Tour in Washington, D.C.   Scholarship recipients for 2019 were selected in a random drawing for $1,250 scholarships awarded for each district.  Applicants were placed back in the hat and drawn for the districts that did not have five applicants (District 4).  Scholarships are funded with unclaimed Capital Credit dollars that otherwise would be forfeited to the state.  Scholarships do not affect electric rates.  Following are the high school seniors selected from the random drawing:

• A presentation on the 2018 EnergySense program was presented to the board.   The board discussed the changes for the 2019 EnergySense program which include an increase to the EV charging station incentive from $100 to $200, air source heat pump incentive increased from $150 to $200 per ton, residential water heather incentive increased from $200 to $300 (Polk-Burnett is selling 100 gallon water heaters to new homes for $250).  Added efforts in 2019 include, a solar PV seminar in April, geothermal seminar in June and EV seminar in August/September. 
• Directors received a report from the general manager.
• Directors received a report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting. 
• The board received a report from those that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for February 25, 2019 at the Centuria office.
• The meeting adjourned at 1:50 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON DECEMBER 17, 2018

A regular meeting of the board of directors was called to order on Monday, December 17, 2018, at 8 a.m.  Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present along with Steve Stroshane,  general manager/CEO, Stacy Bergmann, executive assistant/HR administrator and Tim Laux, system counsel.  Guests included Heather Gerber, manager of finance and accounting, Ed Johansen, operations manager, Matt Kurtzhals, IT manager, Joan O'Fallon, communications director, Todd Schulte, member services manager and Jarod Boerst, power distrbution engineer.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of November 28, 2018 were approved. The board authorized the summary of the November board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for November 2018. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $20.89.
• The review and amendments were approved for policy M-14: Disconnection & Reconnection Fees, M-16: Meters, M-17: Member’s Wiring & Equipment and M-18: Member’s Responsibility. Policies can be viewed under My Co-op at www.polkbunett.com.
• Amendments were approved to policy BD-10: Director Expenses and Per Diems and BD-28: Director Education.
• The board approved the legal engagement agreement commencing on January 1, 2019.
• The board appointed Cindy Thorman to eh WECA education committee, Joe Metro to the WECA legislative committee and Jason Evenson to he WECA JT&S committee.
• Resolutions for impairment loss of metering equipment and deferral of 2018 excess margins were approved.
• Directors approved the 2019 budget.
• Directors received a report from the general manager.
• Directors received a report of the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for January 28, 2019 at the Siren office.

The meeting adjourned at 11:35 a.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON NOVEMBER 26, 2018

A regular meeting of the Board of Directors was called to order on Monday, November 26, 2018, at 8 a.m.  Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor, were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux, system counsel.  Guests included Todd Schulte, member services manager, Matt Kurtzhals, IT manager, Joan O’Fallon, communications director, Ed Johansen, operations manager, Heather Gerber, manager of finance and accounting and Nick Nelson, Power System Engineering.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of October 22, 2018 were approved.  The board authorized the summary of the October board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for October 2018.  They were reviewed and discussed by the  board.
• The board wrote-off bad debt electric accounts in the amount of $942.82.
• The review and amendments were approved for policies M-9: Billing Adjustments, M-10: Collections, M-11:  Member Deposits and M-13:  Discontinuance of Services.  Policies can be viewed under My Co-op at www.polkburnett.com.
• Amendments were approved to Policy E-24:  Proactive Performance Coaching and Disciplinary Action Model.
• New policy E-11:  Automatic Vehicle Location (AVL) Acceptable Use was adopted.
• The board approved closing the Centuria and Siren office on December 24, 2018.
• Directors reviewed the director election timeline.  Districts 4, 5 and 6 are up for election in 2019.  Applications must be received by March 8, 2019 to be placed on the ballot.  The cooperative will have a hybrid election this year giving members the ability to vote electronically or vote by paper ballot.
• The board approved the following dates for regular board meetings in 2019:  January 28, February 25, March 25, April 22, May 20, June 24, July 22, August 26, September 23, October 28, November 18 and December 16. 
• Delegates were selected for the NRECA annual meeting in Orlando, FL, March 10-13, 2019.
• Directors discussed electronic attendance at board meetings and attendance at conferences, seminars and training courses.
• Directors received the results of the cost of service study performed by Power System Engineering.  The general manager also presented information with historical information of past cost of service studies.
• Directors received an overview of the 2019 budget that will be considered at the December board meeting.
• Directors received a report from the general manager.
• Directors received a report from the Polk-Burnett Propane Services, Inc. quarterly board meeting.
• The board received a report from those that attended various conferences and education seminars.
• Directors received a report from the system counsel.
• Director and manager expenses were approved.
• The next regular meeting is combined with the budget meeting and is scheduled for December 17, 2018.
• The meeting adjourned at 2:40 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON OCTOBER 22, 2018

A regular meeting of the board of directors was called to order on Monday, October 22, 2018, at 8 a.m. at the Centuria office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Jerry Okonek, Wilfred Owens, Tom Swenson and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Cindy Thorman attended via phone. Guests included Heather Gerber, manager of finance and accounting, Ed Johansen, operations manager and Jarod Boerst, power distribution engineer. Nate Kalepp, Bauman & Associates, joined the board via conference call.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of September 17, 2018 were approved. The board authorized the summary of the September board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for September 2018. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $306.73.
• The board approved amendments and review of policies M-4: New, Non-Commercial, Single-Phase Electric Line Extension Policy, M-5: Incentive & Rebate Program, M-6: Prepay Program and M-8: Billing. Policies can be reviewed under My Co-op at www.polkburnett.com.
• Per bylaw requirements, the board reviewed the district counts and discussed Policy BD-19 – Redistricting Guidelines. The difference between the largest district does not exceed the smallest district by more than 4% of the total membership and redistricting is not required.
• Directors selected Friday, June 7, 2019 as the date for 81st annual meeting.
• The board approved the 2019 Construction Work Plan. A new summer peak was set at Meenon Substation and new winter peaks were set at Grantsburg, Hertel, Jackson, Meenon, Poquette and Spencer Lake. Load growth is flat due to moderate economic growth being offset by energy efficiency efforts. There has been some promising development with expansion projects at campgrounds, farms and factories. No new subdivisions have been constructed, but houses are being built in existing subdivisions. Approximately 39 miles of identified line construction is considered in the work plan and was primarily based on condition of poles/age of overhead conductor, condition of underground line and back-up between substations. This excludes 30 miles of planned #2 AL underground cable replacement. The work plan includes improvements and upgrades to Polk-Burnett’s electric system which would include pole replacements, upgrades of overhead and underground cables, reclosers, voltage regulators, metering devices and other planned or unplanned construction. Unplanned construction consists of storm damage, accidents and secondary faults. Overhead to underground conversions overlap with pole rejects and small conductor replacements.
• The board accepted the three-year audit and tax return proposal from Bauman and Associates.
• Acting as the audit committee, the board met with the auditor, via teleconference, to discuss the 2018 audit.
• Directors received a report on the 2019 action plans included in the Strategy Execution program that will be included in the 2019 budget.
• Directors received a report from the general manager/CEO.
• Directors received a report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting is scheduled for November 26, 2018.

The meeting adjourned at 1:03 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON SEPTEMBER 17, 2018

A regular meeting of the board of directors was called to order on Monday, September 17, 2018, at 8 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Guests included Heather Gerber, manager of finance and accounting, Jerry Okonek and Roger Jackson, district 7 director applicants.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of August 27, 2018 were approved. The board authorized the summary of the August board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $3,617.90.
• The board acknowledged receipt of financials for August 2018. They were reviewed and discussed by the board.
• The board approved amendments and the review of policies, BD-32: Destruction of Proprietary Information, M-1: Application for Membership and Electric Service, M-2: Electric Rights-of-Way and Easements, and M-3: Classification of Members. The policies can be reviewed under About Polk-Burnett/Policies at www.polkburnett.com.
• The board adopted a new policy BD-12: Delegating Administrative Duties of Corporate Officers. This policy can be reviewed under About Us/Policies at www.polkburnett.com.
• Interviews were conducted with two district 7 director applicants. Jerry Okonek was appointed to complete the remaining term of Maury Miller, who resigned in June 2018. Mr. Okonek’s term will expire in 2021.
• The board appointed a WECA annual meeting voting delegate.
• Directors received a report from the general manager.
• Directors received a report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for Monday, October 22, 2018 at the Centuria office.

The meeting adjourned at 11:20 a.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON AUGUST 27, 2018

A regular meeting of the board of directors was called to order on Monday, August 27, 2018, at 8:03 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Guests included Heather Gerber, manager of finance and accounting, Todd Schulte, member services manager and Joan O’Fallon, communications director.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of July 23, 2018 were approved. The board authorized the summary of the July board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for July 2018. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $2,091.10.
• The board approved the review/amendments to policies BD-10: Director Per Diem & Expenses, BD-25: Strategic Planning, BD-30: Energy Rate Guidelines and BD-31: Succession Management. Policies can be found under About Us at www.polkburnett.com.
• The board renewed a $1 million line of credit with CoBank.
• The board discussed the application and process for the District 7 vacancy. The three candidates will be interviewed at the September 17 board meeting.
• The member services manager presented a report on the Identity Theft Prevention Program (Red Flags). The program is in place to assist cooperative personnel to identify, detect and prevent the theft of members’ personal information.
• The manager of finance and accounting presented the 2017 National Rural Utilities Cooperative Finance Corporation (CFC) Key Ratio Trend Analysis (KRTA’s) to the board. KRTA’s compare all cooperatives that borrow from CFC. The 145 ratios compare Polk-Burnett’s system ratios with systems in the nation, state, similar consumer size, major wholesale power supplier, and rate of plant growth categories.
• The board discussed the strategic plan mid-year update.
• The board reviewed and discussed the 2019 strategic plan-facilitation results from CFC.
• Directors received a report from the general manager.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received a report from the system counsel.
• Directors received a report on the Polk-Burnett Propane Services, Inc., quarterly board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for Monday, September 17, 2018 at the Siren office.
• The meeting adjourned at 12:31 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON JULY 23, 2018

A regular meeting of the board of directors was called to order on Monday, July 23, 2018, at 8 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Tim Laux, system counsel, Steve Stroshane, general manager/CEO and Stacy Bergmann, executive assistant/HR administrator. Guests included Heather Gerber, manager of finance and accounting, Ed Johansen, operations manager, Joan O’Fallon, communications director, Matt Kurtzhals, IT manager and Todd Schulte, member services manager.

DISCUSSION/ACTION ITEMS

• The minutes from the regular and organizational meetings of June 25, 2018 were received. The board authorized the summary of the June board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for June 2018. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $498.
• The board approved the review/amendments to policies BD-11: Electronic Communication Devices for Directors and Attorney, BD-24: Identity Theft Prevention (Red Flags), BD-16: Internal Control Systems, and BD-28: Director Education. Policies can be found under About Us at www.polkburnett.com.
• The board watched a presentation on Polk-Burnett’s equity management plan.
• The board approved the retirement of 2.5% of unretired capital credits and the generation and transmission capital credits received from Dairyland Power Cooperative.
• The board took action to apply capital credit retirements for active electric members as bill credits instead of sending checks.
• The board discussed the vacancy in District 7 and decided seek candidates to complete the term (through June 2021) by sending letters to all members in District 7. Management will work on the mailing.
• The September board meeting was rescheduled to September 17.
• The board appointed a delegate to the NRECA Region 5 meeting.
• Directors received a report from the general manager.
• Directors received a legal report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The board recessed to hold a Polk-Burnett Diversified Services Inc. meeting.
• The board held a strategic planning workshop with senior management.
• The next regular meeting of the board is scheduled for August 27, 2018.
• The meeting adjourned at 4 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON JUNE 25, 2018

A regular meeting of the board of directors was called to order on Monday, June 25, 2018, at 8:10 a.m. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Maury Miller was absent. Guests included Heather Gerber, manager of finance and accounting and Joan O’Fallon, communications director.

DISCUSSION/ACTION ITEMS

• An organizational meeting took place to elect board officers for the 2018-2019 term. Ed Gullickson was elected president, Mike Morris was elected vice president and Chuck Brookshaw was elected secretary/treasurer.
• The minutes from the regular meeting of May 21, 2018 were approved. The board authorized the summary of the May board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for May 2018. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $2,260.20.
• The approved the review and/or amendments to BD-21: Review of Business Records and Financial Data, BD-22: HIPAA and BD-23: Code of Ethics. Policies can be found under About Us at www.polkburentt.com.
• Changes to Polk-Burnett’s Economic Development Programs were approved. Economic Development documents can be found under About Us at www.polkburnett.com.
• The board approved amendments to Policy BD-16: Economic Development.
• The board conducted the annual review and signed a Director Pledge reaffirming their responsibility and commitment to uphold the highest standards for legal and ethical conduct.
• A resolution to approve the 2018 Dairyland Power Cooperative load forecast was passed.
• The board approved the 2019 Scholarship Program to award $1,250 scholarship to 45 high school seniors (five from each of nine co-op districts) and two Youth Tour trips.
• The board approved a resolution Authorizing Application for a USDA Rural Economic Development Loan to Allied Emergency Services to construct a new fire hall in the Town of Alden.
• Directors selected a delegate for the WECA District 3 meeting.
• Directors received a report from the general manager.
• Directors received a report of the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The board recessed to conduct annual meetings of Polk-Burnett Charities, Inc. and Polk-Burnett Diversified Services, Inc.
• The next regular meeting of the board is scheduled for July 23, 2018.
• The meeting adjourned at 12:55 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON MAY 21, 2018

A regular meeting of the board of directors was called to order on Monday, May 21, 2018, at 8 a.m. at the Siren office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Maury Miller, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/ HR administrator and Tim Laux, system counsel. Guests included Heather Gerber, manager of finance and accounting, Joan O’Fallon, communications director, Ed Johansen, operations manager, Matt Kurtzhals, IT manager and Todd Schulte, member services manager.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of April 23, 2018 were approved. The board authorized the summary of the April board meeting minutes to be placed on the website.
• The board acknowledged receipt of financials for April 2018. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $296.
• The board approved the review and/or minor amendments to policies BD-17: Guidelines for Director Elections, BD-18: Bylaw Amendments, BD-19: Redistricting Guidelines and BD-20: Proprietary Information. 
• The board reviewed the 2017 990 and 990T tax form prepared by the CPA firm Bauman’s & Associates. The 990 is the tax return for organizations exempt from income tax.
• The board took action to declare unclaimed capital credit funds be forfeited according to Wisconsin Statutes Section 158.03(10) and the bylaws. Notice will be mailed to members and posted on the website.
• The board took action to not contribute to the CFC Integrity Fund in 2018.
• Plans for the 80th annual meeting on June 8 were discussed.
• The board approved changes to Polk-Burnett’s Economic Development Program.
• The board reviewed information on alternative dispute resolution.
• Directors received a report from the general manager.
• Directors received a report of the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The 80th annual meeting will be held on Friday, June 8, 2018 at Polk-Burnett headquarters in Centuria.
• The next regular meeting of the board is scheduled for Monday, June 25, 2018.
• The meeting adjourned at 1:35 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON APRIL 23, 2018

A regular meeting of the board of directors was called to order on Monday, April 23, 2018, at 8 a.m. at the Centuria office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Maury Miller, Mike Morris, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux, system counsel. Guests included Heather Gerber, manager of finance and accounting, Susan Huerstel, accountant, and Matt Kurtzhals, IT manager.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of March 26, 2018 were approved. The board authorized the summary of the March board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $227.21.
• The board acknowledged receipt of financials for March 2018. They were reviewed and discussed by the board.
• The board approved the review and amendments to policies BD-14: ROPE (Restoration of Power in Emergencies), BD-15: Joint Use of Poles and BD-16: Economic Development and to approve discontinuing Policy BD-12: Directors’ and Staff Travel. Policies can be viewed under About Us at www.polkburnett.com.
• The board approved a resolution to amend the Wisconsin Electric Cooperative Association articles of incorporation and bylaws.
• System counsel discussed succession plans.
• Directors received information on the cooperative’s debt portfolio and investments from the manager of finance and accounting.
• Directors received an Information Technology (IT) security update from the IT manager.
• Director received information on economic comparison between Polk and Burnett counties from the executive assistant/HR administrator.
• Directors received the results of the employee engagement survey from the executive assistant/HR administrator.
• Directors received a report from the general manager.
• Directors received a report from system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for May 21, 2018 at the Siren office.

The meeting adjourned at noon.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON MARCH 26, 2018

A regular meeting of the board of directors was called to order on Monday, March 26, 2018, at 8 a.m. at the Centuria office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Maury Miller, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor, were present, along with Steve Stroshane, general manager/CEO, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Guests included Joan O’Fallon, communications director, Heather Gerber, manager of finance and accounting, Susan Huerstel, accountant, Rebekah Lindner, customer services manager, Ed Johansen, operations manager, Rick Kosloski, manager, rights-of-way/warehouse/safety, and Jarod Boerst, power distribution engineer.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of February 23, 2018 were received. The board authorized the summary of the February board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $601.59.
• The board acknowledged receipt of financials for February 2018. They were reviewed and discussed by the board.
• The board acknowledged receipt of the Federated Safety & Loss Prevention Assessment conducted on February 8, 2018.
• Directors reviewed and approved amendments to policies BD-8: Check Signatures, BD-9: Funds Handling, BD-10: Directors’ Expenses & Per Diem and BD-11: Electronic Communication Devices for Directors and Attorney. Policies can be found under About Us at www.polkburnett.com.
• The board was notified of a 2% wholesale power rate increase from Dairyland Power Cooperative.
• The board adopted a resolution approving the Dairyland Power Cooperative Wholesale Power Contract Extension.
• The general manager presented Polk-Burnett’s sales trends throughout the years for residential, seasonal, small commercial and large commercial members.
• The accountant presented information on 2017 financial ratios showing steady, positive trends with very little growth to the electric membership.
• The customer services manager presented results from the 2017 transactional surveys. Overall results and feedback collected were positive and encouraging.
• The operations manager presented information on 2017 power reliability statistics and the manager, rights-of-way/warehouse/safety followed with an update on the right-of-way aerial/mowing maintenance and herbicide programs.
• The power distribution engineer presented the actual overall costs from the 2017 construction work plan.
• All directors were appointed as delegates to the DPC annual meeting on June 6, 2018.
• Directors received a report from the general manager.
• Directors received a report from system counsel.
• Directors received a report on the DPC board meeting.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for April 23, 2018.

The meeting adjourned at 12:10 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON FEBRUARY 23, 2018

A regular meeting of the board of directors was called to order on Friday, February 23, 2018, at 8 a.m. at the Centuria office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Maury Miller, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present, along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Guests included Matt Kurtzhals, IT manager, Michael Jenssen, database/application specialist, Todd Schulte, member services manager, Heather Gerber, manager of finance and accounting, Joan O’Fallon, communication director, Nate Kalep and Joe Harrison, Bauman Associates, Lance Ausing, USDA, Kristen Peterson, USDA (via phone) and Craig Harmes, DPC (via phone).

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of January 29, 2018 were approved. The board authorized the summary of the January board meeting minutes to be placed on the website.
• The board wrote-off bad debt electric accounts in the amount of $2,054.30 and a miscellaneous receivable account for $166.65.
• The board acknowledged receipt of financials for January 2018. They were reviewed and discussed by the board.
• Directors reviewed and approved amendments to policies BD-4: Legal Services, BD-5: Annual Audit, BD-6: Equity Level and BD-7: Investment of General Funds. Policies can be found under About Us at www.polkburnett.com.
• The board received a report from the manager on a larger than proposed wholesale rate increase for 2018-19 from Dairyland Power Cooperative. The wholesale rate increase is still being discussed and more information will be available in the coming weeks.
• Directors discussed plans for the combined 80th annual meeting/member appreciation day event being held on Friday, June 8 at the Centuria headquarters. An open house is planned from 1 to 3 p.m. and the annual meeting is from 3 to 4 p.m.
• A presentation on the 2017 EnergySense program was presented to the board. The board discussed the changes for the 2018 EnergySense program which include a LED fixture and lamp incentive reduced by 50%, geothermal incentive increased to $400 per ton, a cap on each incentive to 20% of the measure’s cost. DPC is discontinuing incentives for WiFi thermostats and CFL bulbs. Added efforts in 2018 include, a home performance testing seminar in May, geothermal seminar in July and PV solar seminar in August/September.
• Auditors, Nate Kalep and Joe Harrison, Bauman Associates, presented the 2017 consolidated financial statements for Polk-Burnett Electric Cooperative and Subsidiaries to the board of directors. In the opinion of the auditor, the consolidated financial statements present fairly, in all material respects, the financial position of Polk-Burnett Electric Cooperative and Subsidiaries as of December 31, 2017 and 2016 and the results of operations and cash flows for the years then ended are in conformity with generally accepted accounting principles in the United State of America. A copy of the consolidated audit report for 2017 is placed under About Us at www.polkburnett.com.
• Representatives from the United States Department of Agriculture and Dairyland Power Cooperative were available in person or via conference call to educate the board on the programs available for rural economic development grants/loans as well as the cooperative’s role in the programs.
• Directors received a report from the general manager.
• Directors received a report from system counsel.
• Directors received a report on the Dairyland Power Cooperative.
• Directors received reports from directors that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for March 26, 2018.

The meeting adjourned at 1:20 p.m.

POLK-BURNETT ELECTRIC COOPERATIVE

SUMMARY OF THE BOARD OF DIRECTORS MEETING ON JANUARY 29, 2018

A regular meeting of the Board of Directors was called to order on Monday, January 29, 2018, at 8 a.m. at the Siren office. Directors Chuck Brookshaw, Ed Gullickson, Joe Metro, Maury Miller, Mike Morris, Wilfred Owens, Tom Swenson, Cindy Thorman and Jeff Traynor were present along with Steve Stroshane, general manager, Stacy Bergmann, executive assistant/HR administrator and Tim Laux system counsel. Guests included, Susan Huerstel, accountant, Joan O’Fallon, communications director and Rick Kosloski, manager of right-of-way, warehouse and safety.

DISCUSSION/ACTION ITEMS

• The minutes from the regular meeting of December 18, 2017 were approved. The board authorized the summary of the December board meeting minutes to be placed on the website.
• The board acknowledged receipt of the preliminary financials for December 2017. They were reviewed and discussed by the board.
• The board wrote-off bad debt electric accounts in the amount of $1,943.34.
• The board reviewed and approved amendments to policies BD-1: Board/Staff Relationship, BD-2: Committees of the Board, BD-2a: Audit Committee and BD-3: Appearance by Members or Others at Regular Board Meetings. Policies can be located under About Us at www.polkburnett.com.
• The board selected the 2018 scholarship award recipients. Polk-Burnett received a total of 87 applications. Five high school seniors participated in the Youth Tour essay contest and two will attend the 2018 NRECA Youth Tour in Washington, D.C. Scholarship recipients for 2018 were selected in a random drawing for $1,250 scholarships awarded for each district. Applicants were placed back in the hat and drawn for the districts that did not have five applicants (District 4 and District 8). Scholarships are funded with unclaimed Capital Credit dollars that otherwise would be forfeited to the state. Scholarships do not affect electric rates.
• The 2017 right-of-way (ROW) satisfaction survey results were presented to the board. There were 273 surveys conducted out of approximately 1,472 members with property in clearing areas for 2017. The 2017 satisfaction rating was 8.88 (out of 10) and 87% giving a rating of 8 or higher. This is higher than both the 2012 and 2013 ROW surveys (8.02 and 8.05, respectively).
• The board discussed a preliminary request for a USDA Rural Economic Development loan for construction of a fire hall in the Town of Alden. More information will be presented during the February board meeting.
• In preparation for the Dairyland Power Cooperative (DPC) Symposium on the Wholesale Power Contract, the board reviewed the contract extension terms as well as the flexibility options being added to DPC Policy 100A. A formal resolution to extend the DPC Wholesale Power Contract will be prepared for board consideration at the February board meeting.
• Directors received a report from the general manager.
• Directors received a report from the system counsel.
• Directors received a report on the Dairyland Power Cooperative board meeting.
• The board received a report from those that attended various conferences and education seminars.
• Director expenses were approved.
• The next regular meeting of the board is scheduled for February 23, 2018 at the Centuria office.
• The meeting adjourned at 2:15 p.m.