September Board Meeting Agenda

First, I want to offer condolences to the family of Rich Hurley, who passed away on September 8. Rich was a great colleague on the board. He was thoughtful, inquisitive, and open-minded while staying focused on creating a great electric utility. He will be sorely missed.

Our Board Committee meeting is tomorrow (Tuesday, 9/12). This is our first month with our new meeting schedule. Here’s a quick recap of the schedule/process changes:

  • The five committees will no longer regularly meet each month
  • All discussions that previously took place in one of the five committee meetings will now occur at our Tuesday all-committee meeting, which starts at 8:30am (gonna be a long meeting!)
  • Board meeting will be on Thursday at 4:00pm.

Committees include the following:

  • Finance, Insurance & Audit
  • Nuclear Oversight
  • Public Information
  • System Management
  • Governance

These five committees will still exist, but they will meet on an ad-hoc basis. In most cases, they’ll be meeting in order to consider refinements to board policies. I’m currently on the Public Information and System Management committees.

As it relates to our September board meeting, below is a brief summary of the major stuff we’ll be discussing. If you’re looking for all the details, take a look at the Committee Meeting Packet and Board Meeting Agenda.

THE BIG STUFF

Strategic Initiative Updates

We’ll hear updates on two strategic initiatives:

Customer Experience: Be a trusted energy services partner that understands, cares for, enables and honors the diverse energy needs of our customers and communities.

Financial Sustainability: Create a comprehensive financial management framework that enables management to make timely, informed business plans and decisions to ensure effective allocation of resources to enable business transformation.

Board Policy Refinement Process

An outcome of our July workshop was an improved process for refining our board policies. We’ll hear a presentation that summarizes the new process and will discuss as a board. As a reminder, there are four strategic directives that are likely to see revisions in the short-term. They are:

  • SD5: Customer Satisfaction
  • SD2: Competitive Rates
  • SD13: Stakeholder Outreach and Communication
  • SD7: Environmental Stewardship

The strategic directives are the single most important thing that we do as board members (IMO). Refinements to all four of the aforementioned will go through the Public Information Committee before finding their way to the full board. I’m anxious and excited to see how they evolve.

Approval of Third & Final Labor Union Contract
The third OPPD labor union (Local No. 1483) reached a tentative agreement on a new labor contract. Highlights of the agreement:

  • It’s a five-year agreement (they are normally three years)
  • Increases in health insurance deductibles and out-of-pocket maximums
  • Employee contributions to the pension plan gradually climb from 6.2% in 2018 to 9.0% in 2022
  • Increase in contribution OPPD makes to Health Savings Accounts
  • 3% per year increase in wages

OTHER STUFF

We’ll hear a variety of other reports and take action on a few things as well. Here’s the brief summary of a few (again, not all-inclusive):

  • Voting on whether or not OPPD is compliant with Strategic Directive 10: Ethics
  • Report on the Sarpy Transmission Project selected route
  • Quarterly Enterprise Risk Management update in closed session
  • Southwest Power Pool Services update

There are a variety of matters we’ll hear related to finances, nuclear, and contracts.