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The Kentucky Association of Counties Insurance Agency, Inc. held a quarterly Board of Directors meeting upon adjournment of the KACo Board of Directors quarterly meeting on Thursday, March 20, 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; 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, Director of Insurance; Tim Sturgill, General Counsel; Karen Basham, Chief Financial Officer; Andrea Morse, Insurance Agency Manager; Kris Dunn, Associate Director of Insurance; Marie Skinner, Accountant; Alyssa Rogers, Staff Accountant; Kelly Harding, HUB International/KACo Marketing Agent; Jesse Penn, Computer Support Specialist; Chad Wheet, Director, Adair County Ambulance Service; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Chairman Mosley called the meeting to order at 2:07 p.m.
Motion made by Stevie Givens, seconded by Ronnie Akers, to approve the minutes of the December 19, 2024, meeting as presented. Motion carried.
Mr. Sturgill provided an overview and role of the KACo Medical Benefits Committee.
Ms. Basham presented and discussed the balance sheet as February 28, 2025; income statement and FY 2024/25 PAF budget for period July 1, 2025 through February 28, 2025. She also presented the pro forma balance sheet for the KACo Benefits Program as of December 31, 2024, and the pro forma income statement for the six months ending December 31, 2024, 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. Morse presented the quarterly bond summary report by month for FY 2024/25 including the bond type for all currently active bonds as of February 28, 2025, and list of bond cancellations.
Mr. Harding, giving an update on health insurance, provided a written summary of the KACo Benefits Program, which includes seventy fiscal courts, sixty-three libraries and sixty-four other political subdivisions totaling 197 members covering 6,063 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 periods and a list of KACo members.
The next meeting is June 26, at 1 p.m.
Motion made by Harry Clark, seconded by Adam O'Nan, to adjourn the meeting at 2:32 p.m. Motion carried.
