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The Kentucky Association of Counties Unemployment Compensation Self-Insurance Fund held a Board of Directors meeting at the KACo offices located at 400 Englewood Drive in Frankfort, Ky. and via video teleconference, in accordance with KRS 61.826 and 2020 Ky. Acts ch. 73 sec. 1(8)(b), at 11:00 a.m. on Wednesday, May 19, 2021.
The roll was called. The following Directors were present: Chairman Phil Sammons, Boyle Co. Magistrate; Vice-Chairman Larry Foxworthy, Fleming Co. Judge/Executive; David Nicholson, Jefferson Co. Circuit Court Clerk; David Livingston, Scott Co. Magistrate; John Ward, Hardin Co. Sheriff; David Fields, Pendleton Co. Judge/Executive; and Jacqalynn Riley, Grant Co. Magistrate.
Others participating included: Temple Juett, Director of Insurance and Business; Marie Skinner, Accounting Manager; Jim Henderson, Executive Director/CEO; Karen Basham, Chief Financial Officer; Tim Sturgill, General Counsel; Rich Ornstein, Staff Attorney; Katie Stewart, Customer Service Representative; Andrea Morse, Insurance Agency Manager; and Sonya Chesser, Executive Assistant to the CEO/Director of Administrative Services.
Chairman Sammons called the meeting to order at 11:02 a.m.
Motion made by David Livingston, seconded by David Fields, to approve the minutes of the Apr. 21, 2021 meeting as presented. Motion carried.
Ms. Skinner presented and discussed the following financial reports: balance sheet as of Apr. 30, 2021; statement of activities for period July 2020 through April 2021; FY 2020/21 PAF budget for period July 1, 2020 - Apr. 30, 2021; and check detail for April 2021.
Motion made by Larry Foxworthy, seconded by Jacqalynn Riley, to acknowledge receipt of the financial reports as presented. Motion carried.
Ms. Basham presented and discussed the FY 2021/22 proposed draft budget for the board's review.
Ms. Basham presented and discussed the investment report for month ended Apr. 30, 2021 including the investment transactions for the month of April.
Motion made by Jacqalynn Riley, seconded by David Nicholson, to acknowledge receipt of the investment report and to ratify the investment transactions as presented. Motion carried.
Mr. Sturgill presented the board with a final copy of the Custodial Agreement between the KACo U.I. Fund and Conning and Central Bank & Trust Company. He noted that the signature copy of the agreement contains the date of May while the copy presented to the board contains the April date.
Motion made by John Ward, seconded by David Nicholson, to approve the Custodial Agreement. Motion carried.
Ms. Stewart presented a map of the March 2021 preliminary unemployment rates by county as produced Apr. 21, 2021. The document was prepared by the Workforce Intelligence Branch, Kentucky Center for Statistics, Kentucky Education and Workforce Development Cabinet.
The next meeting is scheduled for June 16th at 11 a.m. in person at the KACo offices and by video conference in accordance with KRS 61.826 and 2020 Ky. Acts ch. 73 sec. 1 (8)(b).
Motion made by Jacqalynn Riley, seconded by David Fields, to adjourn the meeting at 11:51 a.m. Motion carried.
