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Month: August 2018

SECO Contributes $3,000 to Marion County’s Public Education Foundation

SECO Energy has contributed $3,000 for Marion County school students through the Public Education Foundation of Marion County (PEF Marion). As a local not-for-profit electric cooperative, SECO believes its contribution bolsters the community and provides much needed financial assistance to dedicated educators.

 

PEF Marion is a not-for-profit corporation whose mission is to financially and materially support Marion County Public Schools, its students and teachers. The Foundation is organized to assist students from as young as pre-Kindergarten to vocational and adult education programs.

 

The funds contributed to the Foundation can support programs such as the Golden Apple Teacher Recognition program that honors and rewards excellence in teaching; the Take Stock in Children initiative that provides deserving low-income young people/students the opportunity to escape the cycle of poverty through education; and Grants for Great Ideas that has awarded hundreds of grants to teachers and principals in support of teaching innovation – impacting more than 100,000 students.

 

SECO Energy’s $3,000 contribution can also benefit the Foundation’s Tools 4 Teaching program. Tools 4 Teaching accepts donations of unused office supplies from local businesses and puts them to good use in Marion County schools. Tools 4 Teaching allows teachers to shop for supplies for their classrooms – pencils, paper, art supplies and more – without spending their personal money. Tools 4 Teaching assists Coats 4 Kids during colder months – accepting donations of new or gently used winter coats for local children without a warm jacket.

 

CEO Jim Duncan stated, “As a not-for-profit cooperative, SECO supports its members by participating in community endeavors that support education. We have deep roots in Marion County and serve over 58,000 families and businesses in that county alone. Financially supporting education is an investment in future community leaders, members and possibly future employees. SECO is honored to donate $3,000 to Marion County’s Public Education Foundation to strengthen education in the community.”

 

“Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates. Visit our Community page to learn more about SECO’s corporate citizenship and other community outreach initiatives.

SECO Contributes $3,000 to Sumter County’s Schools Enhancement Foundation

SECO Energy has contributed $3,000 for Sumter County school students through the Sumter County Schools Enhancement Foundation. As a local not-for-profit electric cooperative, SECO believes its contribution bolsters the community and provides much needed financial assistance to dedicated educators.

 

Through its partnership with the Consortium of Florida Education Foundations (CFEF), the Sumter County Schools Enhancement Foundation maximizes the individual and collective strength of Florida local education foundations to support local partners and schools. The CFEF builds partnerships between local education foundations and businesses that impact students in the classroom.

 

Collectively, CFEF member education foundations raise $63 million annually to fund initiatives that increase Florida’s students’ achievements. These investments fund programs not covered by tax dollars. Investments include student scholarships, mentoring and drop-out prevention strategies, teaching innovation and recognition programs, classroom grants, college readiness and access programs, literacy improvement strategies, technical/career education initiatives and targeted support for low-performing students and schools.

 

SECO Energy’s $3,000 contribution can also be used to support back-to-school activities, teachers’ luncheons, training sessions and classroom supplies. The donated funds are provided for the benefit of teachers and students in Sumter County schools.

 

CEO Jim Duncan stated, “As a not-for-profit cooperative, SECO supports its members by participating in community endeavors that support education. We have deep roots in Sumter County – our corporate headquarters is located in Sumterville and we serve over 62,000 families and businesses in this county alone. Financially supporting education is an investment in future community leaders, members and possibly future employees. SECO is honored to donate $3,000 to the Sumter County Schools Enhancement Foundation to strengthen education in the community.”

 

“Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates. Visit our Community page to learn more about SECO’s corporate citizenship and other community outreach initiatives.

SECO Contributes $3,500 to Lake County’s Educational Foundation

SECO Energy has contributed $3,500 for Lake County school students through the Educational Foundation of Lake County. As a local not-for-profit electric cooperative, SECO believes its contribution bolsters the community and provides much needed financial assistance to dedicated educators.

 

The Educational Foundation of Lake County is a not-for-profit corporation whose mission is to serve as the connection between the community and public education, and evaluate resources to enhance the quality of education in Lake County. The Foundation is the direct support organization for Lake County Public Schools and is operated for the benefit of students and teachers.

 

The funds contributed to the Foundation can support programs such as the Lake County Teacher of the Year, Rookie Teacher of the Year and Employee and Volunteer of the Year; the LCS Science Fair; the Take Stock in Children initiative that provides deserving low-income young people/students the opportunity to escape the cycle of poverty through education; and Grants for Great Ideas that has awarded hundreds of grants to teachers and principals in support of teaching innovation – impacting more than 100,000 students.

 

SECO Energy’s $3,500 contribution can also benefit the Foundation’s Apple-Mart, where teachers and social workers shop for free. Each year, new teachers in the district are given a pass to the Apple-Mart where they can shop for school supplies for their classroom once a month. Principals in the district also receive passes to distribute amongst current teachers. The Foundation depends on donations from the community, local businesses and churches to stock school supplies for the Apple-Mart.

 

CEO Jim Duncan stated, “As a not-for-profit cooperative, SECO supports its members by participating in community endeavors that support education. We have deep roots in Lake County and serve over 65,000 families and businesses in that county alone. Financially supporting education is an investment in future community leaders, members and possibly future employees. SECO is honored to donate $3,500 to the Educational Foundation of Lake County to strengthen education in the community.”

 

“Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates. Visit our Community page to learn more about SECO’s corporate citizenship and other community outreach initiatives.

SECO Energy Board Compensation Statement

SECO Energy was founded in 1938 as Sumter Electric Cooperative, Inc., a small not-for-profit rural electric utility serving a few hundred folks in the Webster area. Over the years, sound financial management, appropriate governance policies and economic growth in Central Florida have resulted in the cooperative doing business today as a fiscally sound SECO Energy with a membership of more than 205,000 residents and business owners across seven counties.

 

Cooperatives in Florida are legislated by Florida Statute Chapter 425. Not only is SECO Energy in full compliance with the Florida statute, the cooperative also adheres largely to Florida Public Service Commission guidelines developed for investor-owned utilities (although cooperatives are not technically required by statute to do so). SECO also files its rate tariffs for approval and emergency response plan outline annually with the PSC.

 

SECO Energy’s member-elected Board of Trustees are fairly compensated for their service and the cooperative’s election guidelines make it easy for an interested party’s name to appear on the ballot. A potential candidate simply notifies SECO in writing of intention to run. No signatures or nominations are necessary.

 

The potential Trustee candidate must reside in the District, cannot be closely related to another Trustee or employee and must meet very general eligibility requirements per the SECO Energy Bylaws. In fact, four of the nine current Trustees have been elected to the Board in the last eight years. The cooperative encourages election participation at District Meetings and holds an Annual Meeting as required by Florida Statute. In 2018, SECO Energy’s Annual Meeting drew a crowd of nearly 7,000.

 

Once elected, Trustees are compensated for each monthly Board of Trustee meeting. The amount covers meeting attendance and the study time needed to prepare for Board meetings. The compensation is standard for this region and for a Board responsible for governance and the financial oversight associated with a company of this size with $855 million in utility plant. SECO Energy is the third largest cooperative in Florida and the seventh largest in the nation.

 

SECO Energy Trustees are not provided with company-paid health, dental or vision insurance or pension/retirement benefits. Trustees are encouraged to participate in trainings and conferences to provide the education needed to govern and oversee the utility.

 

For trainings/conferences, transportation type and dates/time is limited to the most economical. Overstaying of training/conference dates at company expense is not permitted. The cooperative’s policies prohibit the coverage or reimbursement of spouse or family member travel or entertainment expenses if they accompany a Trustee to a conference or training.

 

Board meeting dates and times are published two months in advance in our monthly edition of SECO News which is mailed with billing statements and posted on social media and SECOEnergy.com. Members are welcome to attend any meeting in its entirety (with the exception of executive sessions) and can examine the minutes of any past board meeting. Board of Trustee compensation records are released publicly as required in the cooperative’s Form 990. The cooperative publishes an Annual Report as well. SECO Energy is an award-winning utility in customer satisfaction.

 

SECO Energy has retired Capital Credits regularly as a true not-for-profit electric cooperative should. Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses have been paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as “Capital Credits” and represent a portion of the member’s patronage with the cooperative in the prior fiscal year.

 

During its September 2017 meeting, SECO’s Board of Trustees approved a record $5.4 million Capital Credits retirement to be returned (retired) to members. Since SECO Energy’s inception, the co-op has retired more than $57.8 million to current and former members. Capital Credits returns are made possible by the sound financial stewardship of SECO’s Board, leadership team and flock of dedicated, cost-conscious employees. The cooperative anticipates (with Board of Trustee approval, of course) another healthy Capital Credits retirement at year end 2018.

Sunshine State Stats, July 2018

July 2018 was pretty darn hot with nearly daily rain showers. The average high was 90°. The average temperature was 82°, while July of 2017 had an average temperature of 84°. The average low was 75°, compared with an average low of 76° last July. Rainfall for July of 2018 was 7.45 inches compared to last July at 7.91 inches.

 

Sunshine State Stats July 2018 breakdown

 

There were 524 cooling degree days and 0 heating degree days for July 2018, while last year there were 590 cooling degree days with 0 heating degree days. The Degree Days are based on how much warmer or cooler the average temperature at a particular location is than 65°F. In other words, if the average temperature is 60° degrees outside on a particular day, there are 5 Heating Degree Days for that day in that location.

 

August 2018 is forecast to be somewhat the same as last year with average high temperatures in the 90s. Rainfall is forecast to be heavier than normal compared to 2017. The continuation of afternoon showers could give your HVAC units a much-needed break.

 

Hurricane Season Update: Chances that the global climate pattern El Niño will develop this fall were increased in the most recent forecast, boosting confidence in revised predictions for a below-normal hurricane season. The federal Climate Prediction Center’s July El Niño forecast is giving it a 65 percent chance of appearing in the fall, and about a 70 percent chance of a winter formation.

 

For Florida, the periodic warming of the equatorial Pacific Ocean can mean a less active hurricane season with fewer of the powerhouse Cat 5 tropical cyclones known to build during the peak months of August through October.

 

If you want to check historical usage, log into SmartHub to view past bills and charts. If your usage is high, SECO offers several energy-efficiency tools to help you identify energy wasters. Take the Home Energy Assessment to receive a detailed email tailored to your home’s features and lifestyle. The energy-saving advice will provide low-cost ways to decrease your usage – and your electric bill.

 

To easily calculate how much energy your appliances, lighting, electronic devices, and other energy-using items in your home consume, use the Energy Estimator. If you want a member of our Energy Services team to come to your home to perform a free energy audit, contact us today to book an appointment.