Title
Resolution - Approval of 2026 Operating Budget and 2026 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 discussed in Executive Session.
Discussion
Pursuant to Pedernales Electric Cooperative, Inc. (PEC or the 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.
PEC Executive Management presented the Board with the proposed budget for 2026, including information to support the levels of operating and capital expenses that will allow PEC to fulfill its mission of providing safe, reliable, and low-cost energy to members.
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. In addition to the programs authorized in the PEC Community Support and Power of Change Policy, PEC also anticipates using the Power of Change Round-Up funds for $102,000 in "Special Requests for Community Support" as provided in the Policy including for the Member Assistance Program, Youth Tour, Youth Education Events, and Teacher Education Support.
Consistent with its authority under Article VIII of the Cooperative's Articles of Incorporation, the Board of Directors has reviewed the 2026 Operating and Capital Improvement Budget.
Body
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that based on the information presented by Executive Management regar...
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