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The Kentucky Association of Counties Insurance Agency, Inc. held a quarterly Board of Directors meeting at 1 p.m. on Thursday, June 26, 2025. This meeting was held at 400 Englewood Drive in Frankfort, Ky. and via video teleconference, pursuant to proper notice given in accordance with KRS 61.826 and 65.312(3).
The roll was called. The following Directors were present: Chairman Dan Mosley, KACo President and Harlan County Judge/Executive; Adam O'Nan, KACo President-elect and Union County Judge/Executive (via video teleconference); Stevie Givens, Butler County Magistrate; Ronnie Akers, Floyd County Magistrate; Harry Clark, Rowan County Judge/Executive; Joe Pat Covington, Scott County Judge/Executive; and Jim Henderson, KACo Executive Director/CEO.
Others participating included: Temple Juett, Chief Insurance Officer; Jeremy Baird, Director of Insurance; Tim Sturgill, General Counsel (via video teleconference); Karen Basham, Chief Financial Officer; Andrea Morse, Insurance Agency Manager; Kris Dunn, Associate Director of Insurance; Alyssa Rogers, Staff Accountant; Shellie Hampton, Director of Government Affairs; Jennifer Burnett, Director of Strategic Operations; Kelly Harding, HUB International/KACo Marketing Agent; Jesse Penn, Computer Support Specialist; and Beth Pleasant, Administrative Specialist.
Chairman Mosley called the meeting to order at 1:02 p.m.
Motion made by Stevie Givens, seconded by Harry Clark, to approve the minutes of the March 20, 2025, meeting as presented. Motion carried.
Ms. Basham presented and discussed the balance sheet as May 31, 2025; income statement and FY 2024/25 PAF budget for period July 1, 2025 through May 31, 2025. She also presented the pro forma balance sheet for the KACo Benefits Program as of April 30, 2025, and the pro forma income statement for the ten months ending April 30, 2025, as prepared by Capstone Administrators.
Motion made by Joe Pat Covington, seconded by Adam O'Nan, to acknowledge receipt of the financial reports as presented. Motion carried.
Ms. Basham presented and discussed the proposed draft budget for FY 2025/26 for the board's consideration.
Motion made by Ronnie Akers, seconded by Stevie Givens, to adopt the FY 2025/26 budget as presented. Motion carried.
Ms. Basham presented and discussed the FY 2025/26 program administration agreement between KACo and the KACo Insurance Agency, Inc. for a period of one year, commencing on July 1, 2025 and ending June 30, 2026.
Motion made by Joe Pat Covington, seconded by Harry Clark, to approve the FY 2025/26 program administration agreement as presented. Motion carried.
Ms. Morse presented the quarterly bond summary report by month for FY 2024/25 including the bond type for all currently active bonds as of May 31, 2025, and a list of bond cancellations and renewals.
Mr. Harding, giving an update on health insurance, provided a written summary of the KACo Benefits Program, which includes seventy fiscal courts, sixty-two libraries and sixty-four other political subdivisions totaling 196 members covering 6,042 lives. The report also included the quarterly activity and a five-year review of the Agency's financial performance and benefits commission for the current and prior rolling twelve-month period and 18 month loss ratio report.
Mr. Harding presented and discussed the population and claims paid data for the period June 2024 through May 2025.
Mr. Henderson introduced KACo's new Director of Insurance, Jeremy Baird, to the board. Due to Mr. Baird's extensive work background, he will play a key role in assisting KACo with pursuing a self-insured health plan.
The next meeting is Sept. 25, immediately following the adjournment of the KACo quarterly board meeting at 1 p.m.
Motion made by Harry Clark, seconded by Stevie Givens, to adjourn the meeting at 1:52 p.m. Motion carried.
