[tidy error]
The Kentucky Association of Counties Leasing Trust held a Board of Trustees meeting at 1 p.m. on Wednesday, February 25, 2026. This meeting was via video teleconference pursuant to proper notice given in accordance with KRS 61.826 and KRS 65.312(3).
The following Trustees participated via video teleconference: Chair Amy Chandler, Warren County Attorney; Bill Bartleman, McCracken County Commissioner; and Mark McKenzie, Johnson County Judge/Executive.
Others participating included: Jim Henderson, Executive Director; Karen Basham, Chief Financial Officer; Tim Sturgill, General Counsel; Lonnie Campbell, Assistant Director of Financing Services; Kelly Mittler, Leasing Officer; B.J. White, Accounts Receivables Officer; Rich Ornstein, Staff Attorney; Mark Franklin, Board Counsel, Dinsmore & Shohl, LLP; Alyssa Rogers, Staff Accountant; Keith Brock and R. J. Palmer, Senior Vice Presidents, Compass Municipal Advisors, LLC; Shellie Hampton, Director of Government Affairs; Jennifer Burnett, Chief Innovation Officer; Jesse Penn, Computer Support Specialist; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Chair Chandler called the meeting to order at 2:33 p.m.
Motion made by Bill Bartleman, seconded by Mark McKenzie, to approve the minutes of the January 28, 2026, meeting as presented. Motion carried.
Ms. Basham presented and discussed the following financial reports: consolidated statement of financial position as of January 31, 2026; statements of activities and changes in net assets for the period July 1, 2025 through January 31, 2026; cash transactions for January 2026; and the FY 2025/26 PAF budget for the period July 1, 2025 through January 31, 2026.
Ms. Basham presented and discussed the investment report and security transactions for January 2026. The Board received a complete electronic listing of the Fund's investments prior to the meeting.
Motion made by Mark McKenzie, seconded by Bill Bartleman, 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 the month of January 2026. Ms. White provided an update on the loans paid off during the same month.
Ms. Mittler provided a bond pool update.
The next meeting is Apr. 22, at 1 p.m.
Motion made by Mark McKenzie, seconded by Bill Bartleman, to adjourn the meeting at 2:48 p.m. Motion carried.
