Board Directors

The monthly meeting of MVEC’s Board of Directors was called to order on May 26, 2022, at 8:30 AM. Highlights include:

• Chief Executive Officer Ryan Hentges covered a variety of co-op-related subjects.
• CFO Joanne Kolb provided April and Year-to-Date financials along with strategies for MVEC’s open energy position.
• Attorney Marc Sugden provided information on case law around easement rights.

The monthly meeting of MVEC’s Board of Directors was called to order on April 25, 2022, at 8:30 AM. Highlights include:

• Chief Executive Officer Ryan Hentges provided a report on possible electrification partnerships and staffing updates.
• Chief Financial Officer Joanne Kolb provided March and year-to-date financials.
• Operations Manager Mike Dietz and Engineering Manager Sarah Peterson provided an update on Quarter 1 outage numbers, mitigation efforts, and work plans.
• Chief Financial Officer Joanne Kolb discussed options for managing power supply contracts for the summer of 2022.
• Attorney Marc Sugden discussed the importance of using documentation to establish the basis for certain Cooperative actions.

The monthly meeting of MVEC’s Board of Directors was called to order at 8:30 a.m. March 28, 2022. Highlights include:

• Chief Executive Officer Ryan Hentges discussed a variety of co-op-related subjects and strategic planning for 2022.
• CFO Joanne Kolb reported on February and Year-to-Date financials along with information relating to MVEC’s open energy position and distributed generation rules and tariffs.
• Attorney Paul Johnson provided information on roles relating to audit reviews, solar legislation, and the board of directors’ responsibilities relating to business safety risks.
• Dave Holt of Brady, Martz & Associates presented the results of the 2021 audit.

The monthly meeting of MVEC’s Board of Directors was called to order at 8:30 a.m. Monday, Feb. 28, 2022. Highlights include:

• Chief Executive Officer Ryan Hentges reported on power supply, MREA Annual Meeting, NextEra Conference, unclaimed Capital Credit payouts, and transmission investments.
• CFO Joanne Kolb reviewed January and year-end financial statements, along with a variety of subjects relating to renewable energy credits, distributed generation, and qualifying facilities reporting.
• Attorney Paul Johnson presented updated Operation Round Up bylaws.

The monthly meeting of MVEC’s Board of Directors was called to order 8:30 a.m. Monday, Jan. 27, 2022. Highlights include:

• Chief Executive Officer Ryan Hentges presented a recap of successes and challenges the co-op experienced in 2021.
• CFO Joanne Kolb reviewed a variety of subjects relating to December and year-end financial statements, information technology security, Capital Credit retirement, bad debt and accounts receivable KRTA’s, co-generation rates, and the 2022 proposed Schedule of Charges.
• CEO Hentges presented Great River Energy’s plan to sell Coal Creek Station and the associated High-Voltage Direct Current transmission line. CEO Hentges recommended supporting the sale. The Board voted to support the sale.
• Director of Safety Chad Briese reviewed 2021 safety goals, training, statistics, and accomplishments.
• Operations Manager Mike Dietz presented an overview of 2021 reliability issues, mitigation efforts, and industry-wide comparisons.
• Attorney Paul Johnson reviewed Coal Creek Station and HVDC line updates, along with providing information relating to pole inspection contracts.

The monthly meeting of MVEC’s Board of Directors was called to order 8:30 a.m. Monday, Dec. 27, 2021. Highlights include:

• Chief Executive Officer Ryan Hentges reported on Basin transmission credits, a possible air storage pilot project, and the 2022 Corporate Goals.
• CFO Joanne Kolb reported year-to-date financials with November margins favorable to budget by $284k.
• Board Members approved the 2022 budget.
• Attorney Paul Johnson provided information on Great River Energy’s PUC request and the status of the OSHA ETS.

• Chief Executive Officer Ryan Hentges provided updates on OSHA, large loads, storage projects, and hiring. Also presented were 2022’s Corporate Goals.
• CFO Joanne Kolb reported October margins are unfavorable to budget by $509k with a year-to-date unfavorable budgeted margin of $229k.
• VP Member Services Terri Bakken presented results from the 2021 member satisfaction survey.
• Attorney Paul Johnson provided information on recent PUC requests and decisions.

• Chief Executive Officer Ryan Hentges provided an update on budgeting processes, Coal Creek Sale updates, and load forecasts.
• CFO Joanne Kolb reported September margins are favorable to budget by $226K.
• Operations Manager Mike Dietz and Dispatch Supervisor Michelle Rutoski provided information on implementing a System Operations Center.
• Attorney Paul Johnson discussed a proposed construction permit, possible future OSHA requirements, and a FERC rate reviewal.

The monthly meeting of MVEC’s Board of Directors was called to order on Monday, Sept. 27, 2021, at 8:30 a.m. Highlights include:

• Chief Executive Officer Ryan Hentges provided an update on power supply, operational metric reviews, recent storm outages, and a variety of co-op-related subjects.
• CFO Joanne Kolb reported margins are favorable to budget along with year-to-date financial information. Tariff revisions and key ratios were also reviewed.
• Director of Human Resources Brandi Adelmann presented 2022’s benefit renewal information.
• CFO Joanne Kolb reported on power supply policy development and options for handling power cost adjustments.
• Key Account Executive Craig Lofdahl and CFO Joanne Kolb reviewed a new standby-rate tariff.
• Attorney Paul Johnson reported on an eminent domain action in Scott County.

The monthly meeting of MVEC’s Board of Directors was called to order on Monday, Aug. 30, 2021, at 8:30 AM. Highlights include:

• Chief Executive Officer Ryan Hentges provided an update on industry transition, municipal utility relations, and MVEC’s telecommuting pilot program.
• CFO Joanne Kolb reported on July and Year-to-Date financials and power cost summaries.
• Chief Executive Officer Ryan Hentges addressed additional staffing considerations.
• Attorney Paul Johnson provided information on business ethics and discussions held at a recently attended legal seminar.

The monthly meeting of MVEC’s Board of Directors was called to order 8:30 a.m. Monday, July 26, 2021. Highlights include:

• Chief Executive Officer Ryan Hentges made a comprehensive report covering COVID management, a recap of recent GRE and Basin meetings, SMSC, labor and staffing, and power supply.
• Chief Financial Officer Joanne Kolb reported on June margins and year-to-date financials.
• System Planning/Load Forecasting Engineer Sarah Peterson informed the board about the 2022-23 Construction Work Plan.
• Attorney Paul Johnson provided information on the legal factors pertaining to the Coal Creek Sale.
• CEO Hentges presented Great River Energy’s plan to sell Coal Creek Station and the associated High-Voltage Direct Current transmission line. CEO Hentges recommended supporting the sale of Coal Creek.  The Board voted to support the sale.

• Chief Executive Officer Ryan Hentges made a comprehensive report covering safety, load management, the distribution system, and labor/staffing.
• Chief Financial Officer Joanne Kolb reported on May margins and year-to-date financials.
• Energy Sales and Product Development Representative Michael Hinde provided information and updates on GreenChoice pricing.
• Vice President of Member Services Terri Bakken presented information on a Line Worker Scholarship Opportunity for 2022.
• Attorney Paul Johnson discussed recent FERC orders.

• Chief Executive Officer Ryan Hentges provided an update on a variety of subjects including safety, solar requests, equipment/supply lead times, ACSI Score, power supply, cybersecurity, ECO Act passage, and upcoming community meetings.
• CFO Joanne Kolb provided April and year-to-date financials along with an annual review of the cooperative debt portfolio and investment procedures.
• HR Director Brandi Adelmann provided information on the process and status of team members returning to the office.
• Attorney Paul Johnson supplied information regarding an upcoming workshop session relating to power supply.

• Chief Executive Officer Ryan Hentges made a comprehensive report covering an operations update, strategic planning, legislative discussions, and possible 24/7 dispatch discussions.
• Chief Financial Officer Joanne Kolb reported on March and year-to-date financials showing March margins as favorable to budget. She also discussed February power supply financials.
• Marketing/Communications Supervisor Susan Larson presented criteria for MVEC’s outage communication processes and communications.
• VP Member Services Terri Bakken gave an overview of the 84^th Annual Meeting held on April 6. Next year’s date has been set as April 5, 2022.
• Attorney Paul Johnson reported on recent Public Utility Commission (PUC) proceedings.

• VP Finance Gerry Mareck reported February margins finished favorably to budget by $137k.
• Dave Holt of Brady Martz & Associates presented a clean audit for 2020.
• VP Member Services Terri Bakken discussed branding options for MVEC’s green options.
• Attorney Paul Johnson provided information on emissions reporting.

• Chief Executive Officer Ryan Hentges provided information on the effects of the polar vortex in the southern U.S.
• VP Finance Gerry Mareck reported January margins were favorable to budget.
• Also presented was the Cogeneration and Small Power Production report filing with the PUC.
• Energy Sales and Product Development Representative Michael Hinde reviewed MVEC’s Energy Wise Program.
• Marketing/Communication Supervisor Susan Larson presented a preview of MVEC’s website redesign.
• Attorney Paul Johnson discussed his research on election endorsements.

• Chief Executive Officer Ryan Hentges presented updates on workplans, legislative visits, and MVEC’s search for a new Chief Financial Officer (CFO).
• VP Finance Gerry Mareck provided December financials and YTD information. He also provided the 2021 Schedule of Charges, 2020 Bad Debt overview and Capital Credit retirement information.
• Safety Director Chad Briese reviewed 2020 safety goals, trainings, statistics, and accomplishments.
• Operations Manager Mike Dietz and Engineering Manager Curt Cordt presented information relating to reliability indices, outage summaries, mitigation efforts, and reliability enhancements.
• IT Supervisor Jeff Hanson provided an overview of MVEC’s security structure and a variety of upcoming focus areas.
• Attorney Paul Johnson addressed director election rules for the upcoming director election and proposed bylaw changes.

• Chief Executive Officer Ryan Hentges discussed areas concerning MVEC’s strategic plan, metrics, cyber security, and work plans. He also discussed the 2021 corporate goals and areas of focus for the upcoming legislative session.
• VP Finance Gerry Mareck reported November financials finishing ahead of budget by $282k.
• Attorney Paul Johnson reviewed provisions of the Cold Weather Rule.

• Chief Executive Officer Ryan Hentges provided an update on a variety of items within the cooperative.
• VP Finance Gerry Mareck reported October financials finishing near budget.
• VP Member Services Terri Bakken presented results from the 2020 American Customer Satisfaction Index (ACSI) survey.
• Energy Sales and Product Development Specialist Michael Hinde provided an overview of the Time of Use pilot program.
• System Operations Supervisor Mike Callies presented an overview of the impact of kWh sales during the pandemic.
• Attorney Paul Johnson reviewed proposed bylaw amendments.

• Chief Executive Officer Ryan Hentges provided an update on operational items.
• VP Finance Gerry Mareck reported September financials favorable to budget by $448k.
• Power System Engineering presented the results of their Rate and Cost of Service Study.
• VP Member Services Terri Bakken recapped the 2020 Annual Meeting. The 2021 Annual meeting will be held online on the evening of Tuesday, April 6.
• Attorney Paul Johnson discussed agreements and unclaimed capital credits.

• Chief Executive Officer Ryan Hentges provided an update on how COVID-19 has affected the co-op, disconnection, and wholesale power activity.
• VP Finance Gerry Mareck reported August experiencing negative margins, but remained favorable to budget by $72k.
• HR Director Brandi Adelmann presented the 2021 staff benefit renewals.
• Attorney Paul Johnson addressed the Governor’s Peace Time Emergency extension and updated the board on MVEC’s property tax appeal.

• Chief Executive Officer Ryan Hentges provided an operational overview with updates on COVID-19, strategic planning, and the upcoming virtual annual meeting via WebEx.
• VP Finance Gerry Mareck reported July results are favorable to budget by $265k.
• CEO Hentges discussed wholesale power supply options.
• Attorney Paul Johnson updated the board on MVEC’s property tax appeal.

• Chief Executive Officer Ryan Hentges presented information on company operations in relation to COVID-19, community service objectives and load management. He also discussed determinations of how to replace power previously provided by GRE’s Coal Creek Station.
• VP Finance Gerry Mareck reported June financials are positive to budget by $333k.
• Key Account Executive Joe Green reviewed a member request for a Revolving Loan Fund loan.
• Attorney Paul Johnson provided information on the Governor’s Executive Order, board policy, and loan requests.

Chief Executive Officer Ryan Hentges provided an update on COVID-19 impacts, return to work phasing, recruitment, wholesale power and options for holding the MVEC annual meeting. VP Finance Gerry Mareck reported year-to-date margins are favorable to budget by $1.6 million. Director of HR Brandi Adelmann discussed MVEC’s return to work plan. Attorney Paul Johnson updated board members on legal protections during COVID-19.

Meeting began at 8:00 a.m. Thursday, May 28, via teleconference. Highlights include:

• Chief Executive Officer Ryan Hentges provided an overview of operations within the co-op as the COVID-19 period continues and on key focus areas to be addressed.
• VP Finance Gerry Mareck reported April results reflect a small margin and therefore favorable to budget.
• VP of Member Services Terri Bakken provided an update on enhancements to member service procedures.
• VP Energy Services Marvin Denzer presented an overview of the 2020 Construction Work Plan and tree trimming.
• Energy Sales and Product Development Specialist Michael Hinde provided an update to MVEC’s Electric Vehicle Program and metrics and industry trends.
• Safety Director Chad Briese reported on safety-related activities.

• Chief Executive Officer Ryan Hentges updated board members on the pandemic response.
• VP Finance Gerry Mareck reported solid financials for the month of March and favorable margins for Quarter 1.
• Key Account Executive Joe Green provided information on franchise ordinances for the cities of Burnsville and Chanhassen.
• IT Supervisor Jeff Hanson reviewed MVEC’s data storage and protection plans.
• Attorney Paul Johnson presented updates for two board policies.

• Chief Executive Officer Ryan Hentges presented a report covering the co-op’s response to COVID-19 and the changing of the May Board Meeting date to May 28, 2020.
• VP Finance Gerry Mareck updated the Board on February revenues/expenses and the annual audit results.
• Attorney Paul Johnson provided information on COVID-19 impacts and energy mandates on the horizon.

• Chief Executive Officer Ryan Hentges presented a report covering items discussed at the Basin Manager Meeting, MREA bylaw changes, legislative updates, and franchise fees.
• VP Finance Gerry Mareck reported the gross margin variance started the year favorable with January margins slightly ahead of prior years.
• VP Energy Services Marvin Denzer provided a recap of the Touchstone Energy NET Conference.
• Attorney Paul Johnson reported on district lines.

• Chief Executive Officer Ryan Hentges reviewed information on MVEC’s strategy plan, electric vehicles, and DOT policy.
• VP Finance Gerry Mareck presented December financials and YTD information. He also provided the 2020 Schedule of Charges, 2019 Bad Debt overview, and Capital Credit retirement policy.
• IT Supervisor Jeff Hanson reviewed security structure, identity theft prevention programs, red flag compliance, business continuity planning, operational security, and the focus for 2020.
• Attorney Paul Johnson reported on pending eminent domain actions, MVEC’s property tax court challenge, and transmission service contracts.

Meeting began at 8:30 a.m. Monday, Dec. 30, 2019. Highlights include:

• Chief Executive Officer Ryan Hentges covered wholesale power supply transmission rates and strategic plans and measures for 2020.
• The Board of Directors approved the 2020-2022 budget.
• The Board of Directors approved the 2020 Union Contract.
• Attorney Paul Johnson covered information on a variety of topics including MVEC intervention in FERC proceedings.

• Chief Executive Officer Ryan Hentges reported on strategic planning, legislative items, and cyber security.
• VP Finance Gerry Mareck reported healthy October margins. KWh sales were down, but revenue per MWh was favorable.
• Attorney Paul Johnson provided an update on the latest FERC proceedings and information on campaign finance reporting.

• CEO Ryan Hentges provided an update on wholesale power supply, rates, capacity contracts, ownership transfer, and customer satisfaction scores.
• VP Finance Gerry Mareck reported September financials finished with a positive margin. KWH sales were down and revenue per MWH was slightly above budget.
• Energy Sales and Product Development Representative Michael Hinde presented information about MVEC’s water heater program.
• Operations Manager Mike Dietz and Intern Katelyn Barclay presented information on Vegetation Management.
• Attorney Paul Johnson provided updates on various past items, Federal Energy Regulatory Commission (FERC) proceedings, and Public Utilities Commission (PUC) regulations.

• CEO Ryan Hentges reported on data and membership requests, ORU board candidates and bylaws, and various future considerations.
• VP Finance Gerry Mareck provided August financial statements and margin stabilization recommendations.
• Distribution Planning Engineer Sarah Peterson reviewed the 2020-2021 Construction Work Plan.
• Director of Human Resources Brandi Adelmann discussed health care benefit renewals.
• Attorney Paul Johnson reviewed subjects involving substations, right of way, and energy contracts.

• CEO Ryan Hentges provided an update on partnerships, strategic planning, safety, staffing, and contracts.
• VP Finance Gerry Mareck provided July financial statements, a margin stabilization update, and reviewed the Cooperative’s KRTA ratios.
• Key Accounts Executive Joe Green was available for questions referencing Distribution Line Policy and the Revolving Loan Fund.
• Attorney Paul Johnson discussed changes in board policy, substation improvement processes, and concerns regarding right of way resolutions.

• CEO Ryan Hentges made a report covering MVEC activities, including statewide policy developments, contractor performance, and the cooperative’s electric vehicle.
• Gerry Mareck, VP Finance, reported KWH sales were down due to a cooler than normal month of June. The cooperative’s margin variance remains favorable to budget.
• Key Account Executive Joe Green provided background information regarding cities requiring electric utilities to relocate/convert overhead distribution lines to underground and the financial impact to MVEC.
• Key Account Executive Joe Green discussed the Revolving Loan Fund (RLF) and options for using the funds.
• MVEC’s 2019 Youth Tour Representative Natalie Thoms shared a presentation of her experience in Washington, D.C.
• CFC Candidate Jenny Scharmer shared with the board her interest in serving as our representative on the CFC Board for District 6.

• CEO Ryan Hentges presented information about an upcoming Berlin Seminar, Karian-Peterson, and state-wide cooperative communications and advocacy.
• VP Finance Gerry Mareck presented the cooperative’s month to date and yearly financials, which are positive to budget. Mareck provided rate comparisons for MVEC, investor-owned utilities, and municipals.
• Energy Sales and Product Development Representative Michael Hinde reviewed information regarding the newly acquired MVEC electric vehicle and the associated programs.
• Attorney Paul Johnson provided the Board an update on two legal matters and MVEC’s wholesale power supply contract framework.
• The Board heard from CFC Candidate Anthony Larson from Slope Electric regarding his candidacy for the CFC Board.
• The Board reviewed and discussed Board Policies 12 and 14.