In attendance: Vice President Larry Long, Secretary Ron Wright, Treasurer Tim Standeford, Director Daryl Swinney, General Manager Herb Cook, and Corby Thompson with Krohn and Associates.

The meeting was called to order at 8:03 AM by Larry Long.  The Minutes of the Directors meeting held on June 20, 2023 were presented for review/approval.  Ron Wight moved the minutes be approved as presented.  The motion was seconded by Tim Standeford and carried unanimously.  Herb Cook gave the Treasurer’s Report.  Daryl Swinney made a motion to approve the Treasurer’s Report.  Ron Wright seconded the motion and carried unanimously.  Herb Cook gave the Operation’s and Manager’s Report.  Daryl Swinney made a motion to approve the Operation’s and Manager’s Report.  Tim Standeford seconded the motion and carried unanimously.

Old Business

  1. New Water Treatment Plant:  Herb Cook reported to the Board that Banning Engineering is working on the Asset Management Plan as required by IDEM.  Also, Banning Engineering and Herb are working through other requirements needed for IDEM to finish permitting.
  2. Krohn and Associates:  Corby Thompson with Krohn and Associates was present at the Board meeting to go over bank terms, rates, and the accounting report.

New Business

  1. Financial Audit of 2022:  The Board was presented with the financial audit completed by Pershing and Associates on July 5, 2023.  Herb made comments on some sections of the audit that needed some attention and addressed what the action plan was for those items.  The Board didn’t have any comments or questions on the audit findings.
  2. Water Treatment Plant Loan Resolution:  Corby Thompson with Krohn and Associates covered the bank terms, rates, and any other conditions they had for the loan for the new water treatment plant.  After much discussion amongst the Board members Daryl Swinney made a motion to adopt the resolution as provided by Krohn and Associates to First Merchants Bank.  Tim Standeford seconded the motion and carried unanimously.
  3. Rate Increase:  With the adoption of the loan resolution for the new water treatment plant, a rate increase to cover the new loan payments was discussed.  Tim Standeford made a motion to do a 60% rate increase effective as soon as the membership had a 30-day notice.  Daryl Swinney seconded the motion and carried unanimously.
  4. Transfer of Ownership Document:  Herb Cook presented to the Board a version of transfer of ownership papers for the Board to review.  Herb noted that these documents should be completed for audit purposes as well as legal purposes.  Tim Standeford made a motion to approve the adoption of a transfer of ownership document for Hill Water.  Daryl Swinney seconded the motion and carried unanimously.

With no other business to discuss, Tim Standeford moved for adjournment.  The motion received a second from Daryl Swinney and carried, unanimously.  The next monthly Directors meeting will be Tuesday, August 15, 2023 at 8:00 AM.  The meeting was adjourned at 9:10 AM.