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The Kentucky Association of Counties Unemployment Compensation Self-Insurance Fund held a Board of Directors meeting at 9 a.m. on Wednesday, December 17, 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 Directors were present: Chairman David Fields, Pendleton County Judge/Executive; John Ward, Hardin County Sheriff; Elbert Bennett, Caldwell County Magistrate; Jacqalynn Riley, Grant County Magistrate; Mike Welsh, Metcalfe County PVA; Randy Dial, Casey County Judge/Executive; and David Livingston, Scott County Magistrate (via video teleconference).
Others participating included: Jim Henderson, Executive Director; Karen Basham, Chief Financial Officer; Tim Sturgill, General Counsel; Marie Skinner, Accounting Manager; Lindsey Bowman, Customer Service Representative; Andrea Morse, Insurance Agency Manager, Rich Ornstein, Staff Attorney; Jeremy Baird, Director of Insurance; Shellie Hampton, Director of Government Affairs; Jennifer Burnett, Chief Innovation Officer; Jesse Penn, Computer Support Specialist; Sean Curry, Green County PVA and KACo First Vice President; Marvin Reinhart, Hardin County guest; and Sonya Chesser, Executive Assistant to the CEO/Director of Administrative Services.
Chairman Fields called the meeting to order at 9:03 a.m.
Motion made by David Livingston, seconded by Mike Welsh, to approve the minutes of the October 22, 2025, meeting as presented. Motion carried.
Ms. Skinner presented and discussed the following financial reports: balance sheet as of November 30, 2025; statement of activities for period July 2025 through November 2025; and FY 2025/26 PAF budget for the period July 1, 2025 through November 30, 2025.
Motion made by Mike Welsh, seconded by Randy Dial, to acknowledge receipt of the financial reports as presented. Motion carried.
Ms. Basham presented and discussed a summary of the Fund's investments and security transactions for the month of October. There were no security transactions for the month of November. The Board received a full listing of the Fund's investments electronically prior to the meeting.
Motion made by Elbert Bennett, seconded by Jacqalynn Riley, to acknowledge receipt of the investment report and to ratify the investment transactions as presented. Motion carried.
Ms. Basham provided an annual review of the dividend policy. The board directed staff to provide more information at the next meeting for further consideration.
Ms. Basham presented the Fund's investment policy for the board's annual review. She recommended no changes at this time.
Ms. Basham presented and discussed the audited financial statement, including the executive summary, for period ending June 30, 2025, as prepared by Cherry Bekaert. The Fund received an unqualified opinion with no findings or recommendations noted.
Motion made by Jacqalynn Riley, seconded by Elbert Bennett, to approve the audited financial statement as presented. Motion carried.
Ms. Bowman presented the third quarter claims for period July 1, 2025 through September 30, 2025.
Ms. Bowman presented a list of potential benefit claims received in the months of October and November 2025.
Chairman Fields requested approval of the following meeting schedule for 2026: January 21, February 25, April 22, May 27, July 22, August 19, September 23, October 21, and December 16. All meetings will be held at 9 a.m. 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 John Ward, seconded by Randy Dial, 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 will be at the offices of the Kentucky Association of Counties, 400 Englewood Drive, Frankfort, Kentucky. Motion carried.
Mr. Henderson provided a KACo update and recognized Sean Curry, KACo's First Vice President and Squire Riley, who serves as KACo's Second Vice President.
Motion made by Randy Dial, seconded by Mike Welsh, to adjourn the meeting at 9:52 a.m. Motion carried.
