Bridging the Gap: Presenting Cost of Service Studies to Cooperative Boards

Date: Tuesday, September 16, 2025
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenter: Craig R. Woycheese, CPA, MBA, Manager of Utility Rates and Financial Analysis, Toth and Associates, Inc.
Moderator: Melissa Felty, MBA, CPA, CFPC, Chief Financial Officer, First Electric Cooperative Corporation
Learning Objectives:
• Why a COSS matters: fairness, financial health, regulatory defense, and long-term planning.
• The board’s role: from consultant selection to setting policy priorities, approving rates, and ensuring transparent member communication.
• From study to rates: how a COSS supports regulatory filings, aligns with member equity goals, and builds confidence in rate adjustments.
Field of Study: Finance
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

A Cost of Service Study (COSS) is more than a technical analysis—it’s a strategic tool that ensures electric rates are fair, transparent, and financially sound. Yet, explaining the need for a COSS to a board of directors can be challenging, especially when balancing technical details with governance-level concerns.

This session will provide utility leaders with practical strategies for framing the COSS in board-friendly terms. Drawing from cooperative principles and regulatory requirements, we’ll walk through how to communicate the purpose, process, and outcomes of a COSS in ways that resonate with directors’ responsibilities. Key topics include:

• Why a COSS matters: fairness, financial health, regulatory defense, and long-term planning.
• The board’s role: from consultant selection to setting policy priorities, approving rates, and ensuring transparent member communication.
• From study to rates: how a COSS supports regulatory filings, aligns with member equity goals, and builds confidence in rate adjustments.

Attendees will leave with tools and messaging strategies to position the COSS not just as a rate study, but as a vital governance instrument that reinforces fairness, transparency, and trust in the cooperative.

Presenter and Moderator Bios

Presenter: Craig R. Woycheese, CPA, MBA, Manager of Utility Rates and Financial Analysis, Toth and Associates, Inc.

Craig Woycheese is a consultant with Toth & Associates, Inc., specializing in utility rate design and cost of service analysis. He works with electric cooperatives and municipalities across the country to develop fair, transparent, and financially sustainable rate structures. Craig has extensive experience helping boards of directors and community leaders understand complex financial and regulatory issues in clear, practical terms. His expertise bridges technical analysis with accessible communication, ensuring sound decisions that balance member equity and long-term financial health.

Moderator: Melissa Felty, MBA, CPA, CFPC, Chief Financial Officer, First Electric Cooperative Corporation

Melissa Felty is the Chief Financial Officer at First Electric Cooperative Corp. in Jacksonville, Arkansas. She has been with the co-op since December 2012.  Prior to her career with the co-op she was in the banking industry in New York for 12 years with JP Morgan and Bear Stearns. 

Cost
Free for NSAC Members / $65.00 for Non-Members

  Online Registration

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#103068) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

Ideal for multiple attendees.
Use a speakerphone and projector/monitor and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.