Board Directors

The monthly meeting of MVEC’s Board of Directors was called to order Monday, Oct. 30, 2023. Highlights include:

• Chief Executive Officer Marvin Denzer provided an update on strategic planning activities, the progress of 2023 projects, planning for the 2024 director election, as well as MVEC’s involvement with an upcoming international electrification project being offered through the National Rural Electric Cooperative Association (NRECA).
• VP Finance Randy Erdman reported on September and Year-to-Date financials, along with budget updates and proposed labor additions for 2024.
• VP Energy Services Ryan Fedie presented a review of September’s power supply and load management portfolios.
• Energy Sales and Product Development specialist Michael Hinde shared Energy Service’s areas of focus supporting the Membership with EnergyWise and Electric Vehicle (EV) programs.
• VP Engineering Sarah Peterson provided an overview of the upcoming 2024 Construction Work Plan.
• VP Operations Mike Dietz presented Quarter 3 reliability indices and mitigation efforts.
• HR Generalist Patty Maiers presented 2024 Benefit Renewals.
• Director of Safety/Environmental Compliance Chad Briese highlighted key safety initiatives from Quarters 1 and 2, along with a summary of key safety indicators and enhanced safety training.
• VP Member Service Terri Bakken reviewed results from the American Customer Satisfaction Index (ACSI) surveys performed in Quarters 1 and 3, along with sharing information about possible funding opportunities for community organizations.
• Attorney Marc Sugden reported on utility case law involving trespassing.

The monthly meeting of MVEC’s Board of Directors was called to order at 8:30 a.m. Sept. 25, 2023. Highlights include:

• Board President Deb Erickson welcomed new board-appointed director Michael Lins to the Cooperative.
• Chief Executive Officer Marvin Denzer provided an overview of a variety of co-op-related topics including team development, member engagement, and networking opportunities.
• VP Finance Randy Erdman reported on August and Year to Date financials and provided updates on the property tax appeal and Employee Retention Credit filings.
• VP Finance Randy Erdman and VP Operations Mike Dietz presented a review of August’s power supply and load management calculations.
• VP Mike Dietz shared opportunities to support a 24/7 System Operations Center.
• VP Engineering Sarah Peterson and VP Operations Mike Dietz presented Quarter 3 Construction Work Plan and Reliability updates.
• Attorney Marc Sugden shared case studies on the evolution of fiduciary Board duties.

The monthly meeting of MVEC’s Board of Directors was called to order at 8:30 a.m. on Aug. 28, 2023. Highlights include:

• Chief Executive Officer Marvin Denzer provided recaps of meetings attended in August along with the upcoming schedule and connections made within the community.
• VP Finance Randy Erdman reported on July and Year-to-Date financials and provided information on the upcoming budget process.
• Cooperative Finance Corporation (CFC) Representative Amanda Seger provided a picture of MVEC’s distribution system operations performance.
• VP Energy Services Ryan Fedie provided updates on August power supply numbers and load management. Fedie also shared information on external funding opportunities from the USDA.
• VP Member Service Terri Bakken gave an overview of plans for 2023 Strategic Planning.
• Key Account Executive Joe Green provided information on a revolving loan application from the City of Montgomery.
• Youth Tour Representative Brandon Busch shared his experiences attending MREA’s 2023 Youth Tour Trip to Washington D.C.
• Attorney Marc Sugden reported on topics covered at the NRECA Legal Seminar.

The monthly meeting of MVEC’s Board of Directors was called to order on July 31, 2023, at 8:30 AM. Highlights include:

• Chief Executive Officer Marvin Denzer provided an update on strategic planning arrangements, member satisfaction survey plans, and community engagement.
• Marketing/Communications Supervisor Susan Larson presented CEO engagement plans developed to strengthen MVEC’s exposure in our local communities.
• VP Finance Randy Erdman reported on June and Year to Date financials, property tax valuation changes, and updates to the Wholesale Energy Supply Adjustment and Wholesale Power Supply Adjustment (WESA/WPSA).
• VP Ryan Fedie reviewed June power costs, land management, energy resources, and services.
• VP Operations Mike Dietz presented information on reliability and mitigation efforts.
• Attorney Marc Sugden provided case studies relating to the utility industry.

The monthly meeting of MVEC’s Board of Directors was called to order on June 26, 2023, at 8:30 AM. Highlights include:

• Chief Executive Officer Marvin Denzer shared information relating to the 2023 Team project list, CEO member engagement, strategic plans, 1:1 team member visits, community/networking connections, and credit reports relating to G&T ratings.
• VP Finance Randy Erdman reported on May and year-to-date financials.
• VP Energy Services Ryan Fedie provided reviews of May power costs, load management, MVEC’s portfolio, and wholesale contract updates.
• VP Engineering Sarah Peterson reviewed possible federal funding opportunities for future reliability infrastructure.
• Manager of Information Technology Nate Reis provided an overview of MVEC’s existing phone system migration to a future Cloud-based platform.
• VP Human Resources Brandi Adelmann presented an overview of August 1, 2023, legislation related to the legalization of recreational marijuana (Cannabis and Hemp-derived products) and updates to MVEC’s Total Rewards Program.
• VP Member Service Terri Bakken reviewed MVEC’s Corporate Policy C-29 – Identity Theft Prevention.
• VP Engineering Sarah Peterson and VP Member Service Terri Bakken presented an addition to the existing corporate goals.
• Key Account Executive Joe Green provided information relating to a member interested in MVEC’s revolving loan program.
• Attorney Marc Sugden reported on allocations and donations of capital credits and a purchase agreement.

The monthly meeting of MVEC’s Board of Directors was called to order on May 30, 2023, at 8:30 AM. Highlights include:

• Chief Executive Officer Marvin Denzer introduced MVEC’s new Vice President of Finance and reported on a variety of co-op-related activities.
• Financial Advisor Gerry Mareck reported on April and Year to Date financials and provided an update on 2022 Capital Credit allocations.
• VP Energy Service Ryan Fedie provided reviews of April load management along with updates on MVEC’s energy resource portfolio.
• Key Account Executives Joe Green and Jeff Langeberg, along with Energy Sales and Product Development Michael Hinde shared information relating to a large commercial solar project.
• VP Human Resources Brandi Adelmann provided an update on MVEC’s 2023 summer interns.
• Attorney Marc Sugden reported on co-op-related work in progress along with an employment law case study.

The monthly meeting of MVEC’s Board of Directors was called to order on April 24, 2023, at 8:30 a.m. Highlights include:

• Chief Executive Officer Marvin Denzer shared activities related to onboarding the new District III Director, individual team member discussion sessions, and recent community connections activity.
• Financial Consultant Gerry Mareck reported on March and Year-to-Date financials, along with a follow-up to the Annual Audit.
• VP Energy Services Ryan Fedie provided reviews of March power supplies, load management, and predicted summer forecasts.
• VP Operations Mike Dietz reviewed Quarter 1 reliability numbers and mitigation efforts.
• VP Energy Services Ryan Fedie, VP Operations Mike Dietz, and VP Engineering Sarah Peterson discussed improving reliability and member experience with a Grid Modern distribution system, budget obligations, and future grant opportunities.
• VP Member Service Terri Bakken provided a recap of the 2023 annual meeting and considerations for 2024’s event.
• Attorney Marc Sugden reviewed tasks accomplished for MVEC in March with updates on industry discussions relating to the physical security of electric facilities.

The monthly meeting of MVEC’s Board of Directors was called to order on March 27, 2023, at 8:30 AM. Highlights include:

• Chief Executive Officer Marvin Denzer shared information relating to a recent outage, rate communications, and various cooperative-related subjects.
• Financial Consultant Gerry Mareck provided an Annual Report update along with February and year-to-date financial reviews.
• VP Energy Service Ryan Fedie presented outlines of power supply, load management, and the Member Directed Resources (MDR) portfolio.
• VP Member Service Terri Bakken reviewed policy considerations relating to Unclaimed Capital Credits.
• Attorney Marc Sugden recapped tasks worked on this past month along with providing an update on the federal-level physical security of electric facilities.

The monthly meeting of MVEC’s Board of Directors was called to order on February 27, 2023, at 8:30 AM. Highlights include:

• MVEC’s Board of Directors appointed Marvin Denzer as MVEC’s Chief Executive Officer.
• Chief Executive Officer Marvin Denzer shared Annual Meeting communications timelines, updates of cooperative meetings attended along with upcoming scheduled meetings.
• CFO Joanne Kolb reported on January and Year to date financial statements.
• VP Energy Service Ryan Fedie presented outlines of Energy Resources and Services along with external relations.
• VP Member Service Terri Bakken reviewed Board policy, funds processing, and distribution amounts of Unclaimed Capital Credits.
• Attorney Marc Sugden provided considerations for board vacancies.

The monthly meeting of MVEC’s Board of Directors was called to order on January 30, 2023, at 8:30 AM. Highlights include:

• Interim Chief Executive Officer Marvin Denzer discussed a variety of co-op-related subjects and upcoming conferences.
• CFO Joanne Kolb reviewed the December and year-end financial statements along with a review of Capital Credit retirements.
• VP Energy Services Ryan Fedie provided an update on energy resources and services.
• Manager of Information Technology Nate Reis discussed IT’s security overview.
• Director of Safety/Environmental Compliance Chad Briese presented 2022’s safety statistics, goal results, and accomplishments.
• Operations Manager Mike Dietz and Engineering Manager Sarah Peterson shared an overview of MVEC’s 2022 system reliability, mitigation efforts, and planned system enhancements.
• VP Member Service Terri Bakken presented a summary of 2022’s bad debt write-offs.
• Attorney Marc Sugden reported on Indiana case law and updates on additional substation challenges.

The monthly meeting of MVEC’s Board of Directors was called to order on December 27, 2022, at 8:30 AM. Highlights include:

• Chief Executive Officer Ryan Hentges shared 2023 project planning, corporate goals, and energy legislation.
• CFO Joanne Kolb reported on November month-end and Year-to-Date financials along with review of 2023 expense, capital, and capital expense budgets.
• VP Member Service Terri Bakken presented an overview of 2023 residential rate communication efforts.
• VP Energy Services Ryan Fedie outlined energy resources, energy services, federal funding, and external relations.
• Attorney Marc Sugden discussed takeaways relating to current events relating to G&Ts and distribution electric utilities.

The monthly meeting of MVEC’s Board of Directors was called to order on November 28, 2022, at 8:30 AM. Highlights include:

• Chief Executive Officer Ryan Hentges shared trending energy impacts and 2023 Corporate goals.
• CFO Joanne Kolb provided October and year-to-date financials and updates to equity management policy.
• Power Systems Engineering presented an updated Cost of Service Study.
• VP Energy Services Ryan Fedie discussed MVEC’s power supply philosophy.
• The Board approved a capital project to increase reliability at the Prior Lake Substation.
• Attorney Marc Sugden shared utility case law study from Tennessee and Pennsylvania lawsuits.

The monthly meeting of MVEC’s Board of Directors was called to order on October 31, 2022, at 8:30 AM. Highlights include:

• Chief Executive Officer Ryan Hentges provided an update on macro trends relating to natural gas and power prices.
• CFO Joanne Kolb presented September and Year-to-Date financial information, 990 filing, and the CFC Line of Credit increase. She also reviewed 2021 key ratios and Equity Management.
• VP Energy Services Ryan Fedie reviewed MVEC’s MDR position and cost of open position by supplier.
• Chief Operating Officer/VP Engineering & Operations Marvin Denzer shared reliability enhancements to the Prior Lake substation.
• HR Director Brandi Adelmann reviewed 2023 medical and dental insurance renewals.
• Key Account Executive Joe Green provided an update on the Shakopee territory transition.
• Attorney Marc Sugden discussed results of a case law study involving Georgia Power Company.

The monthly meeting of MVEC’s Board of Directors was called to order 8:30 a.m. Sept. 26, 2022. Highlights include:

• Chief Executive Officer Ryan Hentges shared his continued discussions with various co-op CEOs on the importance of safety awareness and also provided updates on Power Supply.
• Controller Jolaine Bowman presented August and Year-to-Date financial information.
• Chief Operating Officer/VP Engineering & Operations Marvin Denzer provided Quarter 3 reliability numbers along with a recent study on MVEC field equipment needs to meet reliability and safety objectives.
• Attorney Marc Sugden provided information on the NRECA Infrastructure and Investment Jobs Act along with a review of case law.

The monthly meeting of MVEC’s Board of Directors was called to order 8:30 a.m. Aug. 29, 2022. Highlights include:

• Chief Executive Officer Ryan Hentges reviewed a variety of co-op-related subjects including safety, rates/budgets, staffing, municipal activity, and strategic planning.
• CFO Joanne Kolb provided July and Year-to-Date financials.
• Youth Tour Representative Savannah Berg shared her experiences while attending the 2022 Youth Tour in Washington, D.C.
• CEO Hentges provided an overview of the Connexus Energy Customer contract for Board consideration.
• VP Member Service Terri Bakken presented recent staffing changes and opportunities within the Member Service department.
• VP Energy Services Ryan Fedie provided an overview of the Energy Services department.
• HR Director Brandi Adelmann reviewed the 2023 proposed Total Rewards compensation/benefits program.
• Attorney Marc Sugden recapped information learned from a recently attended legal seminar.

The monthly meeting of MVEC’s Board of Directors was called to order 8:30 a.m. July 25, 2022. Highlights include:

• Chief Executive Officer Ryan Hentges provided a variety of city updates.
• CFO Joanne Kolb provided an update on June and YTD financials, along with contractual obligations involved with the Shakopee territory swap.
• COO Marvin Denzer shared an overview of crew staffing.
• HR Director discussed staffing and recruitment efforts.
• Marketing/Communications Supervisor Susan Larson presented information on MVEC’s external communications strategy.
• Attorney Marc Sugden reported monthly activities and a case study involving Walter Family Grain Growers vs Inland Power and Light.

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

• Chief Executive Officer Ryan Hentges provided an update covering system performance and transmission discussions, as well as a variety of co-op-related subjects.
• CFO Joanne Kolb reported on May and Year-to-Date financials, power supply history and results, RUS applications, and distributed generation rules.
• VP Member Service Terri Bakken shared communication plans and recapped the Annual Meeting.
• Human Resources Director Brandi Adelmann reviewed NRECA’s RS Pension restatement.
• Attorney Marc Sugden shared information on case law relating to the early termination of wholesale power contracts.

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.

The monthly meeting of MVEC’s Board of Directors was called to order on Monday, Nov. 29, 2021, at 8:30 a.m. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order on Monday, Oct. 25, 2021, at 8:30 a.m. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order 8:30 a.m. Monday, June 28, 2021. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order via WebEx 8 a.m. Monday, May 27. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order via WebEx 8 a.m. Monday, April 26. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order via WebEx 8 a.m. Monday, March 29. Highlights include: Chief Executive Officer Ryan Hentges provided an update on a variety of co-op-related activities.

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order via WebEx 8 a.m. Monday, Feb. 26. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order via WebEx at 8 a.m. Monday, Feb. 1. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order 8 a.m. via WebEx on Monday, Dec. 28. Highlights include:

• 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.

The monthly meeting of MVEC’s Board of Directors was called to order 8 a.m. via WebEx on November 30, 2020. Highlights include:

• 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.

Meeting began 8 a.m. via WebEx on Monday, Oct. 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 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.

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 finance 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 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.

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.