CENTRAL RURAL ELECTRIC COOPERATIVE
BOARD MEETING SUMMARY
August 4, 2011
The Regular Meeting of the CREC Board of Trustees was held August 4, 2011.
DEPARTMENT REPORTS
The following department reports were provided.
• Member Service Report
• Engineering and Operations
• Corporate Development
• Safety
• Finance
CEO REPORT
David Swank reviewed:
• July 23, 2011 Kastle Substation outage time-line
• Usage peak was set August 3, 2011 at 115 mega watts
• Community Pillar Study-2010 Oklahoma Economic Outlook
• Capital credit best practices
• Smart Energy Source business plan update
• MySource update
• Interconnection Agreement and Terms and Conditions
• Wireless update
POLICY REVIEW AND OR APPROVAL
David Swank reviewed the policy review and approval process. He included the policies for board review.
EXECUTIVE COMMITTEE REPORTS
Gary McCune presented the Executive Committee Report including the following:
• Policy reviews
• Board strategic planning session
• Board compensation review
AUDIT COMMITTEE REPORT
C.D. Mihura, Audit Committee Chairman, reviewed the Audit Committee Meeting with the Board of Trustees.
PATRONAGE CAPITAL CREDIT RETIREMENT APPROVAL Patricia Nance
The Board of Trustees approved approximately $1,400,000 in capital patronage retirement. This will be applied to the member’s September bill.
KAMO REPORT
Raymond Nettles included the following for the KAMO Report which included:
• System infra-red scanning
• Copper theft
• AECI report