Board Directors & Highlights

Meeting began 8 a.m. via WebEx on October 26, 2020. Highlights include:

• 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 results of their Rate and Cost of Service Study.
• VP Member Services Terri Bakken recapped the 2020 Annual Meeting. The 2021 Annual meeting with be held online the evening of Tuesday, April 6.
• Attorney Paul Johnson discussed agreements and unclaimed capital credits.

Meeting began at 8 a.m. Monday, Sept. 28, 2020, via conference call. Highlights include:

• 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.

Meeting began at 8 a.m. Monday, Aug. 31, 2020 via conference call. Highlights include:

• 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.

Meeting began at 8 a.m. Monday, July 27, 2020, via conference call. Highlights include:

• 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.

Meeting began at 8 a.m. Monday, June 29, 2020 via conference call. Highlights include:

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.

Meeting began at 8:30 a.m. on Monday, April 27, 2020, via teleconference. Highlights include:

• 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.

Meeting began at 8:30 a.m. Monday, March 30, 2020, via teleconference. Highlights include:

• 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.

Meeting began at 8:30 a.m. Monday, Feb. 24, 2020. Highlights include:

• 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.

Meeting began at 8:30 a.m. Monday, Jan. 27, 2020. Highlights include:

• 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.

Meeting began at 8:30 a.m. Monday, Nov. 25, 2019. Highlights include:

• 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 financial reporting.

Meeting began at 8:30 a.m. Monday, Oct. 28, 2019. Highlights include:

• 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 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.

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

• 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.

Meeting began at 8:30 a.m. Monday, Aug. 26, 2019. Highlights include:

• 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.

Meeting began at 8:30 a.m. Monday, July 29, 2019. Highlights include:

• 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.

Meeting began at 8:30 a.m. Monday, June 24, 2019. Highlights include:

• 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.