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The Kentucky Association of Counties Unemployment Compensation Self-Insurance Fund held a Board of Directors meeting at 9:30 a.m. on Wednesday, April 19, 2023. This meeting was held at the KACo offices located at 400 Englewood Drive in Frankfort, Ky. and via video teleconference, pursuant to proper notice given in accordance with KRS 61.826 and KRS 61.312(3).
The roll was called. The following Directors were present: Chairman David Fields, Pendleton Co. Judge/Executive; Vice-Chair John Ward, Hardin Co. Sheriff; Jacqalynn Riley, Grant Co. Magistrate; David Livingston, Scott Co. Magistrate; Elbert Bennett, Caldwell Co. Magistrate; Mike Welsh, Metcalfe Co. PVA; and Randy Dial, Casey Co. Judge/Executive (via video teleconference).
Others participating included: Jim Henderson, Executive Director/CEO; Temple Juett, Director of Insurance and Business; Karen Basham, Chief Financial Officer; Tim Sturgill, General Counsel; Andrea Morse, Insurance Agency Manager; Lindsey Bowman, Customer Service Representative; Alyssa Rogers, Staff Accountant; Jennifer Burnett, Director of Strategic Operations; Jesse Penn, Computer Support Specialist; Gracie Lagadinos, Associate Director of Government Affairs; Jason Murray, Conning (via video teleconference); and Sonya Chesser, Executive Assistant to the CEO/Director of Administrative Services.
Chairman Fields called the meeting to order at 9:32 a.m.
Chairman Fields welcomed Judge Dial to the board.
Motion made by Elbert Bennett, seconded by Mike Welsh, to approve the minutes of the March 22, 2023 meeting as presented. Motion carried.
Ms. Basham presented and discussed the following financial reports: balance sheet as of March 31, 2023; statement of activities for period July 2022 through March 2023; FY 2022/23 PAF budget for period July 1, 2022 - March 31, 2023; check detail for March 2023; and customer balance summary as of March 31, 2023.
Motion made by David Livingston, seconded by Jacqalynn Riley, to acknowledge receipt of the financial reports as presented. Motion carried.
Ms. Basham presented and discussed the investment report for month ended March 31, 2023 including the investment transactions for the month of March. The Board received a full listing of the Fund's investments electronically.
Motion made by Jacqalynn Riley, seconded by Elbert Bennett, to acknowledge receipt of the investment report and to ratify the investment transactions as presented. Motion carried.
Mr. Murray provided a market update including an overview of the Fund's investments.
Ms. Lagadinos provided a legislative wrap-up. She encouraged the board to register for the KACo Leadership Institute class on the topic of "2023 legislative session in review". This virtual class is scheduled for Thursday, April 27 at 11:00 a.m.
Mr. Juett provided an update on the insurance renewal for FY 2023/24.
The next scheduled board meeting is May 24 at 9:30 a.m.
Motion made by Jacqalynn Riley, seconded by David Livingston, to adjourn the meeting at 10:19 a.m. Motion carried.
