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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, February 25, 2026. 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; Vice-chair John Ward, Hardin Co. Sheriff (via video teleconference); Elbert Bennett, Caldwell County Magistrate; Mike Welsh, Metcalfe County PVA (via video teleconference); David Livingston, Scott County Magistrate; and Randy Dial, Casey County Judge/Executive.
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, Jeremy Baird, Director of Insurance; Brenna Angel, Director of Communications; Alyssa Rogers, Staff Accountant; Jesse Penn, Computer Support Specialist; Adam O'Nan, KACo President and Union Co. Judge/Executive; and Sonya Chesser, Executive Assistant to the CEO/Director of Administrative Services.
Chairman Fields called the meeting to order at 9:02 a.m.
Motion made by David Livingston, seconded by Elbert Bennett, to approve the minutes of the January 21, 2026, meeting as presented. Motion carried.
Ms. Skinner presented and discussed the following financial reports: balance sheet as of January 31, 2026; statement of activities for period July 2025 through January 2026; and FY 2025/26 PAF budget for the period July 1, 2025 through January 31, 2026.
Motion made by Randy Dial, seconded by Elbert Bennett, 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 January 2026. The Board received a complete electronic listing of the Fund's investments prior to the meeting.
Motion made by David Livingston, seconded by Elbert Bennett, to acknowledge receipt of the investment report and to ratify the investment transactions as presented. Motion carried.
Ms. Basham discussed the potential dividend options for the board's consideration.
Motion made by Randy Dial, seconded by David Livingston, to declare a dividend of $2 million to be paid to current members with positive net equity as of June 30, 2025. The dividend will be paid on or after April 1, 2026. Dividends to individual members less than $50 will be applied to the 2026 premium. Motion carried.
Ms. Basham discussed the rates for the calendar year 2026. She said staff recommends maintaining the same rate schedule as last year.
Motion made by Mike Welsh, seconded by Elbert Bennett, to adopt the same rate schedule for 2026 as last year. Motion carried.
Ms. Bowman presented the second quarter claims for period Oct. 1, 2025 through Dec. 31, 2025.
Ms. Bowman presented a list of potential benefit claims received in the month of January 2026 and a report on the monthly unemployment rates by county.
Mr. Henderson provided a legislative update.
The next meeting is Apr. 22, at 9 a.m.
Motion made by David Livingston, seconded by Randy Dial, to adjourn the meeting at 9:40 a.m. Motion carried.
