MOUNTAIN PARKS ELECTRIC, INC.
Regular Meeting of the Board of Directors
River Rock Cafe
460 Main Street, Walden, Colorado
September 10, 2026
9:00 A.M.
Attendance
Present: Liz McIntyre, Justin Fosha, Cray Healy, Mark Volt, Ty Wattenberg, Ryan Zorn, Mike Sjobakken, Virginia Harman, Wade Pynes, Jodi King, Adam Paulson, Aaron Street, Joe Palmer, Eric Jones, Sue Henderson, and Bryson Fredregill attended in person. Angie Wallace attended remotely.
Call to Order
President Liz McIntyre called the meeting to order at 9:00 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 August 13, 2026, Meeting of the Board of Directors
Bills for Payment
MOTION: It was properly moved, seconded, and carried to approve the consent agenda as presented.
Department Reports
Operations Report
Adam Paulson presented the Operations Report. Paulson reported the county has gone into stage 1 fire restrictions and MPE’s fire settings will change accordingly. Paulson reported that MPE will be sending a lineman to Guatemala to assist with NRECA’s electrification project. Paulson added that MPE has made overall gains in its reliability efforts, but there continues to be outages in some areas.
Engineering Report
Sue Henderson presented the Engineering Report. Henderson highlighted the bulk heating degree days and cooling degree days in her report and the correlation of each to MPE’s load.
Finance Report
Information Technology (IT) Report
Joe Palmer presented the Information Technology report. Palmer reported that end of season visits to communication sites are happening to prepare them for the winter months. He also reported that various projects are concluding.
Human Resources, Safety, and Administration Report
Virginia Harman referred to the Human Resources, Safety, and Administration Report prepared by Angie Wallace and asked if anyone had questions. Ryan Zorn inquired about CREA’s changes in their safety program, discussion took place.
Member Relations and Communications Report
Aaron Street presented the Member Relations and Communications Report. Street reported on the Member Appreciation Event on September 2, 2026. The event went well and had a good turnout. Street reminded directors that Coffee with Your Coop is in Grand Lake on September 15, 2026, at 8:00 a.m. at Sage Brush. Street continued to report that the rebate program has gone over budget and an update will be presented at the October board meeting along with a budget amendment.
New Business
Action Items
2026 Audit Engagement Letter
Eric Jones presented the audit engagement letter to continue using Bollinger, Segars, Gilbert & Moss, LLP for the audit of MPEs 2026 Financial Statements and asked the board for approval to engage with the auditor.
MOTION: It was properly moved, seconded, and carried to engage with Bollinger, Segars, Gilbert & Moss, LLP for the 2026-year end audit.
2025 Single Audit Report
Eric Jones presented the 2025 Single Audit Report and provided a summary of the audit. Jones explained the audit finds that MPE has complied, in all material respects, with the types of compliance requirements identified within the Audit Report that could have a direct and material effect on each of its major federal programs for the year ended December 31, 2025. Discussion took place.
MOTION: It was properly moved, seconded, and carried to accept the Single Audit Report for 2025 as presented.
Budget Amendment
Adam Paulson presented a requested budget amendment in the amount of $52,250.00 for the Doble transformer testing equipment lease that is required to test equipment at substations. Discussion took place.
MOTION: It was properly moved, seconded, and carried to adopt the budget amendment as presented.
Corporate Donation to CARE
Virginia Harman presented the corporate donation to the CARE program and referred to the presentation delivered in August by Taylor Ward of CREA. Discussion took place on the amount and keeping the money in Colorado and not going to NRECA.
MOTION: Zorn moved to make a donation to CARE in the amount of $10,000.00 with the expenditure of such amount limited to Colorado. The motion failed 2-5.
MOTION: Healy moved to approve a donation to CARE in the amount of $2,000.00 with the expenditure of such amount limited to Colorado. The motion failed by majority vote.
MOTION: It was properly moved, seconded, and carried to approve a donation to CARE in the amount of $5,000 provided 100% of such funds remain with CARE and are not contributed to NRECA.
Board Open Forum, Committee Reports, Association Reports
The executive committee and finance committee did not meet.
The member relations committee met to discuss events, the rebate program, and automating notifications for meter outages.
Ryan Zorn reported on the most recent CREA virtual meeting. Zorn explained that CREA restructured their safety program participation tiers and that some co-ops have moved to a lower tier of service. Discussion took place. Zorn is now sitting on a finance/budget committee for the CREA board.
Mark Volt reported on the most recent meeting of Western United, held on August 27, 2026, and that it was well attended. Volt reported that Western United added two co-ops from Kansas and now has its 100th member.
Upcoming Events
The CREA Innovations Summit is October 31 – November 3, 2026, in Denver, CO.
Winter School for Directors is December 11 – 15, 2026, in Nashville, TN.
CFC District 7 Meeting
The board reviewed the Notice of Meeting of Members for CFC’s District 7.
MOTION: It was properly moved, seconded, and carried to delegate Ryan Zorn as MPE’s voting delegate and to vote “for” the committee proposed for the Nominating Committee.
Old Business
Liability Insurance
Eric Jones provided an update on the renewal of insurance with Federated and will have new rates toward the end of October. Jones requested $3M in cyber insurance and inquired if MPE can raise liability insurance to $10M inclusive to wildfires. MPEs director and officer policy is $10M. Jones will investigate bonding for directors.
Communications Tower
Joe Palmer informed the board that the Jackson County Commissioners agreed to the proposed terms for the communications tower on Peterson Ridge in Jackson County. Palmer further reported the tower components are 6-8 weeks out and work will continue over the winter months.
President McIntyre recessed the meeting at 10:31 a.m. and reconvened the meeting at 10:53 a.m.
Executive Session
MOTION: It was properly moved, seconded, and carried to enter into executive session at 10:54 a.m. for confidential discussion regarding power supply matters with the following present: all directors present at the meeting, Virginia Harman, Wade Pynes, and Bryson Fredregill. Megan Moore-Kemp joined the meeting remotely.
President McIntyre recessed the meeting at 11:50 a.m. and reconvened the meeting at 1:26 p.m.
Erik Anderson, CFC, joined the meeting at 1:26 p.m.
New Business
Discussion Items
CFC KRTA Presentation
Eric Anderson presented the Key Ratio Trend Analysis (KRTA) to the board. He reviewed and discussed the significance of several KRTA ratios, including equity, growth, utility plant, consumers per mile, operating revenue per consumer, operating revenue per kWh, operations and maintenance as a percent of utility, rate of return on equity, debt service coverage ratio capitalized payroll, line loss, and SAIDI. Discussion took place.
Attorney Report
Attorney Bryson Fredregill referred to his written report.
CEO’s Report
CEO Harman referred to her written report.
President McIntyre recessed the meeting at 3:02 p.m. and reconvened the meeting at 3:15 p.m.
Executive Session
MOTION: It was properly moved, seconded, and carried to enter into executive session at 3:17 p.m. for confidential discussion regarding power supply, property acquisition, CEO report, legal matters, risk & strategy report, employee matters, and a member complaint, with the following present: all directors present at the meeting and Bryson Fredregill. Virginia Harman was present for all of such executive session except for the portion where employee matters were discussed. Wade Pynes was present for all of such executive session except for a portion of the member complaint discussion and all of the employee matters discussion. Megan Moore-Kemp joined remotely for the portion of such executive session where power supply was discussed.
MOTION: It was properly moved, seconded, and carried to exit executive session at 4:24 p.m.
MOTION: It was properly moved, seconded, and carried to authorize the CEO to negotiate and execute an agreement for the purchase of property under the terms discussed in executive session.
The meeting adjourned at 4:25 p.m.