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The Kentucky Association of Counties Leasing Trust held a Board of Trustees meeting at 2:30 p.m. on Wednesday, September 24, 2025. This meeting was held via video teleconference pursuant to proper notice given in accordance with KRS 61.826 and KRS 65.312(3).
The roll was called. The following Trustees participated via video teleconference: Chair Amy Chandler, Warren County Attorney; Vice-chair Gary Moore, Boone County Judge/Executive; Bill Bartleman, McCracken County Commissioner; Matt Wireman, Magoffin County Judge/Executive; and Mark McKenzie, Johnson County Judge/Executive.
Others participating via video teleconference included: Jim Henderson, Executive Director/CEO; Tim Sturgill, General Counsel; Karen Basham, Chief Financial Officer; Lonnie Campbell, Assistant Director of Financing Services; Kelly Mittler, Leasing Officer; B.J. White, Accounts Receivables Officer; Rich Ornstein, Staff Attorney; Alyssa Rogers, Staff Accountant; Mark Franklin, Board Counsel, Dinsmore & Shohl, LLP; Keith Brock and R. J. Palmer, Senior Vice Presidents, Compass Municipal Advisors, LLC; Shellie Hampton, Director of Government Affairs; Jennifer Burnett, Director of Strategic Operations; Jesse Penn, Computer Support Specialist; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Chair Chandler called the meeting to order at 2:30 p.m.
Motion made by Bill Bartleman, seconded by Gary Moore, to approve the minutes of the August 20, 2025, meeting as presented. Motion carried.
Ms. Basham presented and discussed the following financial reports: consolidated statement of financial position as of August 31, 2025; statements of activities and changes in net assets for the month ending August 31, 2025; cash transactions for August 2025; and the FY 2025/26 PAF budget for the period July 1, 2025 through August 31, 2025.
Ms. Basham presented and discussed the investment report and security transactions for the month of August 2025. The board received a full listing of the Fund's investments electronically prior to the meeting.
Motion made by Mark McKenzie, seconded by Matt Wireman, to acknowledge receipt of the financial and investment reports and to ratify the security position changes as presented. Motion carried.
Mr. Campbell presented and discussed the lease activity for August, while Ms. White provided an update on the loans paid off during the same month.
The next meeting is scheduled for Oct. 22, at 1 p.m.
Motion made by Bill Bartleman, seconded by Gary Moore, to adjourn the meeting at 2:48 p.m. Motion carried.
