Title
Resolution - Approval of 2025 Operating Budget and 2025 Capital Improvement Plan (CIP), Including Items Concerning Competitive Matters, Personnel, Contracts and Real Estate - J Smith/A Murosko
Other Info
Submitted By: Andrew Murosko
Department: Financial Services
Financial Impact and Cost/Benefit Considerations: As presented in the 2025 operating and capital improvement budgets.
Discussion
Pursuant to Pedernales Electric Cooperative, Inc. (Cooperative) Budget Policy, the Cooperative’s Finance Department, in consultation with the Cooperative’s Executive Management, is required to prepare a budget for the Board’s review and consideration on an annual basis. The authority to approve the Cooperative’s operational budget and capital improvement plan is reserved to the Board under the Cooperative’s Board Authority and Responsibilities Policy. The Board, having been presented with the proposed budget for 2025 and consistent with its authority under Article VIII of the Cooperative’s Articles of Incorporation, may consider approving the 2025 Operating and Capital Improvement budgets.
The proposed operating budget includes amounts reflecting contributions and subsequent allocations to the Cooperative’s Community Support Programs received from the Cooperative’s Power of Change Round-Up. The Cooperative, in addition to those programs authorized in the PEC Community Support and Power of Change Policy, which currently includes Community Grants, Educational Support, and Employee Giving Corporate Matching Program (United Charities), also anticipates using $96,000 of the Power of Change Round-Up funds for “Special Requests for Community Support” as provided in the Policy including for the Member Assistance Program, Youth Tour, Youth Education Events, Teacher Education Support and Chamber Event Sponsorships.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the Cooperative adopt the 2025 Operating and Capital Improvement Plan (CIP) Budgets as presented this day and with such amounts allocated therein from the Power of Change Round-Up funds for such programs outlined therein and described herein; and
NOW THEREFORE BE IT RESOLVED that the Chief Executive Officer, or designee, is authorized to take such actions as needed to implement this resolution.