Board Meeting Summary December 20, 2023

December 20, 2023
Board Meeting Summary

Board Information

Annual Audit: The Board met in executive session with Aldrich CPAs & Advisors LLP to discuss the upcoming annual audit.

Forfeiture of Unclaimed Capital Credits: Unclaimed capital credits, totaling approximately $327,000 as of December 7, were scheduled to be forfeited to the cooperative. The credits became payable in 2019 from the years 2003 and 2004, and despite notice of availability were unclaimed.

Member Assistance Year-End Report: In 2023 Salem Electric provided $199,850 in bill credits to 1,142 members who qualified for assistance with their electricity bills.

General Manager's Report

Tony Schacher reported on the closed-door deal between the United States Government and the states of Oregon and Washington, Nez Perce Tribe, Confederated Tribes and Bands of the Yakama Nation, Confederated Tribes of the Umatilla Indian reservation, and Confederated Tribes of the Warm Springs Reservation. While the potential impact on utility rates could be substantial, utilities that depend on federal hydropower and other river-user stakeholders were not included in the negotiations.