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The Kentucky Association of Counties Unemployment Compensation Self-Insurance Fund held a Board of Directors' meeting at 10:30 a.m. on Thursday, December 19, 2019 at 400 Englewood Drive in Frankfort, Kentucky.
The following Directors were present: Chairman Phil Sammons, Boyle Co. Magistrate; Vice-Chairman Larry Foxworthy, Fleming Co. Judge/Executive; David Livingston, Scott Co. Magistrate; John Ward, Hardin Co. Sheriff; David Nicholson, Jefferson Co. Circuit Court Clerk; David Fields, Pendleton Co. Judge/Executive; and Toni Watson, Caldwell Co. Clerk.
Others present were: Marie Skinner, Accountant/UI Manager; Jim Henderson, Executive Director/CEO; Tim Sturgill, General Counsel; Karen Basham, Chief Financial Officer; Grant Satterly, Director of Financial Services; Rich Ornstein, Staff Attorney; Elbert Bennett, Caldwell Co. Magistrate and KACo Immediate Past President; and Sonya Chesser, Executive Assistant/Events Manager.
Chairman Sammons called the meeting to order at 10:29 a.m.
Motion made by John Ward, seconded by David Nicholson, to approve the minutes of the November 21, 2019 meeting as presented. Motion carried.
Ms. Skinner presented and discussed the following financial reports: balance sheet as of November 30, 2019; statement of activities for period July 2019 through November 2019; FY 2019/20 PAF budget for period July 1, 2019 - November 30, 2019. She also presented and discussed the check detail and deposit detail for November 2019.
Motion made by David Fields, seconded by Larry Foxworthy, to accept the financial reports as presented. Motion carried.
Ms. Skinner presented and discussed the customer balance summary as of December 10, 2019. Elliott County Ambulance Service is the only account remaining outstanding with a balance of $2,497.87. Ms. Skinner said Ms. Stewart has spoken with Elliott County Ambulance Service multiple times concerning the matter and has been informed that payment is forthcoming. Ms. Basham said she would conduct a follow up with the Ambulance Service. Mr. Sturgill said he would review the bylaws concerning the Fund's cancellation policy.
Mr. Satterly presented and discussed the investment report for November 30, 2019 including the security position changes for the month ended November 30, 2019 and his personal view of the economic outlook for December.
Motion made by David Livingston, seconded by David Nicholson, to approve the security positions changes as presented. Motion carried.
A map of the preliminary unemployment rates by county, produced November 20, 2019, was provided to the board. The document was prepared by the Workforce Intelligence Branch, Kentucky Center for Statistics, Kentucky Education and Workforce Development Cabinet.
Ms. Skinner requested approval of the meeting schedule for 2020: January 22, February 19, March 18, 2020, April 15, May 20, June 24, July 22, August 19, September 23, October 28 at 7:00 p.m. (Galt House Hotel in Louisville), November 18 and December 16. All meetings will be held at 11:00 a.m. at the KACo offices.
Motion made by Larry Foxworthy, seconded by David Fields, to approve the 2020 meeting schedule as presented. Motion carried.
Motion made by John Ward, seconded by Toni Watson, to adjourn the meeting at 10:57 a.m. Motion carried.
