Board Responsibilities and Duties
One of the key components of the cooperative business model is the democratically elected board of directors.
As in any corporation, the board bears the responsibility for adopting policies, long-range planning, and financial oversight to ensure that TVEC maintains the ability to provide its essential service—providing safe and reliable electricity at a competitive price with a strong emphasis on member service.
Board members must spend a significant amount of time and effort to fulfill these responsibilities This includes attaining director credentials and ongoing training, board meetings and events. On average, each TVEC board member spends 31 hours each month conducting these activities. The average fees paid to board members in 2017 was $11,485.17.
The average TVEC Board member compensation is below the average for Cooperatives of similar size in the state of Texas and nationally.
Trinity Valley Electric Cooperative was formed by the consolidation of Kaufman County Electric Cooperative and New Era Electric Cooperative in 1997.
At that time, the board instituted a two-part compensation policy. This allowed board members who remained from the previous co-op boards to retain the compensation structure that was in place upon their initial appointment to the board, while creating a new benefit structure for new board members going forward.
Below is a summary of Board Policy 110 – Director’s Fees
New board members (after the consolidation)
The compensation policy for all new board members after the consolidation includes:
A monthly fee of $600 and an additional $150 for each day of service to the co-op. Daily service includes meeting attendance, educational seminars and attendance at regional, state or national cooperative organization training events. A director may be compensated for no more than one meeting per day.
Board members continuing service from previous co-ops
Former Kaufman County and New Era Electric Cooperative board members had the option to continue with the compensation in place prior to the consolidation, which includes:A monthly fee of $450 and an additional $150 for each day of service to the co-op. Daily service includes meeting attendance, educational seminars and attendance at regional, state or national cooperative organization training events. A director may be compensated for no more than one meeting per day.
Medical, prescription and dental insurance.
(Two current board members fall under this compensation category. Five board members do not receive insurance or any other form of compensation other than that listed above.)
Additional items available to all board members
Tablet / Laptop Computer: In order to facilitate efficient communication with board members and to streamline preparation for board meetings, board members may be issued appropriate electronic devices. This currently involves the issuance of iPads. All but one of the iPads currently in service were purchased in 2011. Board members do not have Cooperative provided cell phones or laptops.
Business Credit Card: Credit cards are available to board members to pay for business expenses while on official Cooperative business such as attendance at regional, state or national cooperative organization training events.