Title
Resolution - Approval of TEC 2021 Annual Membership Dues - J Parsley
Other Info
Submitted By: Sylvia Romero for Julie Parsley
Department: Chief Executive Officer
Financial Impact and Cost/Benefit Considerations: Expenditure of Cooperative funds estimated in the amount of $174,425.67 currently included in the Cooperative's 2021 operating budget.
Additionally, each year PEC pays to TEC an ERCOT and Statewide Legal Prorated Share. It is anticipated that such amounts will be no more than $15,000 in 2021.
Discussion
Each calendar year the Board considers approval of Texas Electric Cooperatives (TEC) membership. Membership contributes to overall effectiveness by providing a clearinghouse for ongoing training, developments in the utility industry, best practices, and other legislative education or efforts provided. With membership, PEC is also able to access aggregated competitive pricing for certain utility materials. The statewide association also returns patronage capital to its cooperative members. Below is a 3-year history of PEC dues and patronage capital.
Year Membership Dues Patronage Capital
2018 $166,642 $163,105
2019 $171,015 $228,761
2020 $167,686 $115,538
Body
RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that Texas Electric Cooperatives (TEC) membership and associated membership dues, including ERCOT and Legal, for 2021 in the amount of $174,425.67 are approved, and the Chief Executive Officer of the Cooperative, or designee, is authorized to pay those dues pursuant to the invoices duly presented to the Cooperative.