MOUNTAIN PARKS ELECTRIC, INC.

Regular Meeting of the Board of Directors

Granby, Colorado

October 09, 2025

8:00 A.M.

Attendance

Present: Justin Fosha, Cray Healy, Mark Volt, Ty Wattenberg, Mike Sjobakken, Virginia Harman, Jodi King, Joe Palmer, Adam Paulson, Aaron Street, Eric Jones and Attorney Bryson Fredregill, attended in person. Liz McIntyre, Ryan Zorn, and Megan Moore-Kemp attended virtually. Sue Henderson and Angie Wallace were not present.

Call to Order

Vice President Justin Fosha called the meeting to order at 8:06 a.m.

Determination of Quorum

A quorum was declared.

Public Comment

There were no member comments.

CONSENT AGENDA

The Consent Agenda contained the following items:

Minutes of September 11, 2025, Meeting of the Board of Directors

Bills for Payment

MOTION: It was properly moved, seconded, and carried to approve the Consent Agenda as presented.

Operations Report

Adam Paulson presented the Operations Report. Paulson reported on a visit to Oregon Trail Electric Cooperative to discuss wildfire mitigation measures. MPE will continue to work over the coming winter on how best to protect its power lines. Paulson continued to report on four pole failures over the last couple of years. Operations will be performing a more extensive pole inspection to address concerning poles. Crews are currently in the middle of the fall construction push before winter sets in. Paulson reported that MPE will bring on an additional CPI crew to assist with these efforts. Additionally, Paulson provided an update on the use of AI software with the drone monitoring project, including its utilization to identify particular attributes within the pictures and organize the pictures.

Engineering Report

Virginia Harman referred to the Engineering Report and offered to answer questions.

Finance Report

Eric Jones presented the Finance Report. Jones reported there is a positive variance in MPEs kWh and that sales exceeded budget by 5%. Jones continued to report that Western United’s fiscal year ended on June 30 and that MPE has received dividends from them. Additionally, Jones provided a Tri-State exit update and reported on MPE’s cash and equity positions.

Information Technology (IT) Report

Joe Palmer presented the Information Technology report. Palmer provided additional information on what is important for the Board to know about AI. Palmer continued to report efforts to complete summer projects and the preparation of communications sites for winter.

Human Resources, Safety, and Administration Report

Virginia Harman presented the Human Resources, Safety, and Administration Report. Harman reported that open enrollment is in November and if the Board is interested in health care benefits to reach out to HR. Harman continued to report that MPE is interviewing candidates for the open Staking position.

Member Relations and Communications Report

Aaron Street presented the Member Relations and Communications Report. Street reported that New ERA is still in a holding pattern and that MPE is ready to go with the implementation report as soon as the contract comes in. Street reported that more than 80 people attended the 5th Quarter event and highlighted the upcoming Coffee with your Co-op events in Kremmling on October 14 and Granby on November 11.

Attorney Report

Attorney Bryson Fredregill referred to his written report and had nothing to add.

CEO’s Report

CEO Harman referred to her written report and provided a quick update on a Guzman event for the Board to attend next year.

New Business

Discussion Items

2026 Operating Budget

Eric Jones presented the preliminary 2026 operating budget. A lengthy discussion took place.

Vice President Justin Fosha recessed the meeting at 10:43 a.m. and reconvened the meeting at   10:53 a.m.

2026 Capital Budget

Eric Jones presented the preliminary 2026 operating budget. A lengthy discussion took place.

Action Items

Establish Annual Meeting Date and Location

Aaron Street presented the Annual Meeting dates and location. Discussion took place.

MOTION: It was properly moved, seconded, and carried to establish the annual meeting date and location on May 2, 2026, at Middle Park High School in Granby, CO.

Stand By Rate

Megan Moore-Kemp presented proposed revisions to the Stand By Rate. Moore-Kemp discussed staff’s process in generating the proposed revisions. Discussion took place.

MOTION: It was properly moved, seconded, and carried to enter into executive session at 11:47 a.m. for confidential and privileged discussion on the proposed Stand By Rate with the following present: all directors, staff, and legal counsel present at the meeting were present for the entire executive session.

MOTION: It was properly moved, seconded, and carried to exit executive session at 12:44 p.m.

MOTION: It was properly moved, seconded, and carried by majority vote to adopt the proposed Stand By Rate as presented. Six voted in favor, and Ty Wattenberg voted against.

Policy C1 Communications Policy

Aaron Street presented a revised Policy C1 and reviewed revisions made to the policy. Discussion took place.

MOTION: It was properly moved, seconded, and carried to adopt Policy C1 as presented.

Vice President Justin Fosha recessed the meeting at 12:49 p.m. and reconvened the meeting at   1:14 p.m.

Board Open Forum, Committee Reports, Association Reports

There were no committee meeting reports.

Ryan Zorn reported there is a CREA special meeting on October 10, 2026. Zorn continued to report that there is a prospective buyer for CREA’s Washington Street building. Additional environmental evaluations are being performed on the property. A new executive director of CREA has been announced and will begin in January 2026.

Mark Volt reported that Western United does not meet until October 31, 2026.

Upcoming Events

The Board discussed course offerings at NRECA’s Winter School for Director’s in December.

The Board discussed course offerings at CREA’s Energy Innovations Summit coming up at the beginning of November.

The Executive Committee is meeting on October 30, 2026.

The Member Relations Committee needs to schedule a meeting for the first week of December.

Old Business

Ratify Actions Taken in September Board Meeting

At the September board meeting held on September 11, 2025, the Board approved three years of funding for the Fraser bike park for $25K.

MOTION: It was properly moved, seconded, and carried to ratify the action taken at the September 11, 2025, Board of Directors meeting to approve funding the Fraser Bike Park request for three years in the amount of $25,000.00 per year, provided 50% of the funding will be drawn from unclaimed capital credits and 50% of the funding will be drawn from a fund provided by Guzman Energy for community benefits.

UCC Funding – Totes Program

Attorney Bryson Fredregill discussed that there was no action taken at the September 11, 2025, board meeting to authorize the board’s desire to fund the Totes Program with $15,000.00 from the unclaimed capital credit fund to match the CoBank Sharing Success for Totes Program.

MOTION: It was properly moved, seconded, and carried to approve the use of $15,000.00 from the unclaimed capital credit fund to match the CoBank Sharing Success funding for the Totes Program.

Executive Session

MOTION: It was properly moved, seconded, and carried to enter into executive session at 1:30 p.m. for confidential and privileged discussion regarding a key member update, employee matters, and additional budget discussion with the following present: all directors present at the meeting were present for the entire executive session. Megan Moore-Kemp was present for the portion of executive session where the key member update was discussed. Harman, Jones, and Fredregill were present for all of such executive session except for a portion of the additional budget discussion. Director Zorn exited the meeting during the budget discussion.

MOTION: It was properly moved, seconded, and carried to exit executive session at 4:08 p.m. 

The meeting adjourned at 4:10 p.m.