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The Kentucky Association of Counties Insurance Agency, Inc. held a quarterly Board of Directors meeting on Thursday, December 18, 2025, upon adjournment of the KACo Board of Directors quarterly meeting. 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 Adam O'Nan, KACo President and Union County Judge/Executive; Michael Logsdon, KACo President-elect and Oldham County Magistrate; 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: Jeremey Baird, Director of Insurance; Karen Basham, Chief Financial Officer; Andrea Morse, Insurance Agency Manager; Marie Skinner, Accounting Manager; Alyssa Rogers, Staff Accountant; Rich Ornstein, Staff Attorney; Kelly Harding, Heather Nesler (via video teleconference), and Christina Heckathorn, HUB International/KACo Marketing Agents; Jesse Penn, Computer Support Specialist; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Chairman O'Nan called the meeting to order at 2:06 p.m.
Motion made by Joe Pat Covington, seconded by Stevie Givens, to approve the minutes of the September 25, 2025, meeting as presented. Motion carried.
Ms. Basham presented and discussed the balance sheet as of November 30, 2025; income statement and FY 2025/26 PAF budget for July 1, 2025 through November 30, 2025. She also presented the pro forma balance sheet for the KACo Benefits Program as of October 31, 2025, and the pro forma income statement for the four months ending October 31, 2025, as prepared by Capstone Administrators.
Motion made by Harry Clark, seconded by Stevie Givens, to acknowledge receipt of the financial reports as presented. Motion carried.
Ms. Morse presented the quarterly bond summary report by month for FY 2025/26 including the bond type for all currently active bonds as of November 30, 2025, a list of bonds issued for the months of September 2025 through November 2025; and a list of bond cancellations and renewals.
Ms. Basham discussed the dividend review and stated that, based on the Agency's financial position, staff recommends declaring a $100,000 dividend to KACo.
Motion made by Joe Pat Covington, seconded by Ronnie Akers, to approve staff's recommendation to declare a $100,000 dividend payable to KACo. Motion carried.
Mr. Harding, giving an update on health insurance, provided a written summary of the KACo Benefits Program, which includes 69 fiscal courts, 62 libraries and 64 other political subdivisions totaling 195 members covering 6,044 lives. The report also included the quarterly activity, a five-year review of the Agency's financial performance, and the benefits commission for the current and prior rolling twelve-month periods. Additionally, he presented the loss ratio report, along with deidentified statistics on large claimant spending and the top claimants by medical and Rx plan paid amounts and the population and claims report for paid date November 2024 through October 2025. Mr. Harding introduced Ms. Heckathorn, who will be working more closely with the KACo Benefits Program at a leadership level.
Chairman O'Nan requested approval of the following meeting schedule for 2026: March 26, June 24 at 9 a.m., September 24, and December 17. All meetings will be held upon adjournment of the KACo quarterly meeting at 1 p.m., unless otherwise noted, via video teleconference in accordance with KRS 61.826; that the primary location of the teleconference where the public will be allowed to attend will be at the offices of the Kentucky Association of Counties, 400 Englewood Drive, Frankfort, Kentucky.
Motion made by Michael Logsdon, seconded by Ronnie Akers, to adopt the schedule of meetings for 2026 as presented; that all meetings will be held via video teleconference in accordance with KRS 61.826; that the primary location of the teleconference where the public will be allowed to attend, unless otherwise noted on the schedule, will be at the offices of the Kentucky Association of Counties, 400 Englewood Drive, Frankfort, Kentucky. Motion carried.
Motion made by Stevie Givens, seconded by Joe Pat Covington, to adjourn the meeting at 2:28 p.m. Motion carried.
