Board Meeting Summary April 17, 2024

May 01, 2024

Board Information

Annual Audit Report: The 2023 audit report was accepted as presented and the auditors issued a clean, unmodified opinion; the best opinion an entity can earn. The auditors said the records were well maintained and thanked the staff for their efforts.

Board Policy Review: The Board Policy Committee presented recommendations for two new policies which were both approved by the Board. First was a Capital Credits Retirement Policy outlining the guidelines for discounted early estate retirements under specific conditions. Second was a Board of Directors Travel Policy providing guidelines for director travel.

General Manager’s Report

Tony Schacher reviewed Salem Electric’s Wildfire Mitigation Plan and the process the Board will take when electing officers at their organizational meeting May 7 following the annual meeting. He also provided a strategic plan update which most notably included a halt for plans to build a warehouse on Salem Electric’s east-side property near Alumina Substation.