Board Member Professional Learning Path

This learning path helps board members identify key areas of focus for informed decision-making. Courses cover financial analysis, key performance indicators, and rate study fundamentals.

All of the courses in every learning path are included with an annual membership!

About this learning path

The New Electric Utility and Co-op Board Member Learning Path is a focused, practical training package designed to give newly appointed or novice board members the foundational industry insight they need to govern effectively and make confident, informed decisions. The content is curated specifically for people who are not utility accountants by profession but serve in oversight or governance roles. 


Completing this learning path will give you the skills to:

Interpret financial reports and statements with confidence
Ask informed questions about utility finances instead of relying solely on staff explanations
Understand how rates are developed and why they matter to customers and the utility
Contextualize industry terminology and organizational roles
Monitor key performance indicators that affect financial and operational decisions
Make more strategic decisions grounded in industry fundamentals
Receive 4 hours of NASBA Certified Professional Education Credits (credits awarded for each class).
Earn a Co-op & Utility Governance Foundations Certificate and a verifiable digital badge upon completion—ready to add to your professional profile.

This learning path is for:

  • Members of utility or electric co-op boards
  • Members of city councils or oversight committees responsible for utility decisions
  • Executive leadership who want a deeper understanding of key financial and operational concepts
  • Consultants that serve co-ops and utilities
  • Auditors of co-op and utilities

"As a new board member I’m not always sure what to review when it comes to financial statements and consultant rate studies or the questions to ask. These classes gave me the background to develop questions to get information to make informed decisions."

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Matt

Utility Accountant

This learning path includes the following courses:

Recommended sequence:
 1. Introduction to the Electric Industry  →  2. Understanding and Reviewing Financial Statements  →  3. Evaluating and Using Key Performance Indicators  →  4. Co-op and Utility Rate Study Fundamentals 
courses

Comprehensive Introduction to the Electric Industry: How the Power Business Really Works

Value: $127.00 Included!

If you’re new to the electric industry, this in-depth introduction explains how power is delivered to customers, how utilities are regulated, who does the work, and how electric rates are created. (2.00 credits)

15 Lessons
courses

Understanding and Reviewing Financial Statements: Clear Insights for Better Decisions

Value: $77.00 Included!

If you’re new to electric utility finance, on a board, or in management, financial statements can feel overwhelming. This course shows you what matters, what doesn’t, and the questions that drive better decisions. (CPE credits - 0.50)

8 Lessons
courses

Evaluating and Using Key Performance Indicators to Drive Better Performance

Value: $67.00 Included!

If you provide financial insight or approve electric finance, rate, or strategy decisions, this course delivers a clear overview of key performance indicators and how they guide better management decisions. (CPE credits -0.50)

8 Lessons
courses

Co-op and Utility Rate Study Fundamentals: Building Revenue Requirements, Cost of Service, and Rates

Value: $97.00 Included!

A practical introduction to utility rate studies—learn the ratemaking process, from revenue requirements and cost allocation to cost-of-service analysis and designing fair, defensible rates. (CPE credits -1.00)

14 Lessons

Taught by a nationally recognized utility accounting expert

Avatar
Russ Hissom

CPA

Russ Hissom, CPA, is a national utility accounting and rate expert with 35+ years of experience helping electric cooperatives and electric, gas, water, wastewater, and broadband utilities improve accounting and work order processes, strengthen financial performance, enhance operational excellence, support strategy development and implementation, and design fair, sustainable rates.

Frequently Asked Questions:

This learning path includes a structured sequence of on-demand courses that cover the fundamentals of the electric energy industry, including how the industry works, governance and regulation, utility and co-op financial reporting and analysis, key performance indicators for management, and the basics of rate studies and electric rate development.

Course access is unlimited after purchase.

This learning path adds to your industry foundational knowledge, making your decision making abilities more robust.

The information is taken from industry best practices, real-life examples, and the experience of the instructor in providing practical solutions to power and utilities governance bodies.

The course number of CPE hours are shown in the course description. You'll receive a course completion certificate that also shows the number of CPE hours when you complete 100% of the course and take the course quiz. CPE hours are computed based on a 50 minute presentation hour.


Utility Accounting and Rates Specialists, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor 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 submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.

All course materials can be downloaded for each lessons. These include course slides, exercises, and Excel templates that can be tailored to your organization.

Upon completion, participants earn a Co-op & Utility Governance Foundations Certificate and a verifiable digital badge. The certificate documents course completion for professional records, while the digital badge provides a shareable, online credential that can be added to professional profiles (such as LinkedIn) to demonstrate foundational governance knowledge.

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$217.00
  • 4 Courses
  • 4 hours of NASBA Certified Professional Education Credits (credits awarded after each class)
  • Earn a Co-op & Utility Governance Foundations Certificate and a verifiable digital badge upon completion—ready to add to your professional profile
This course also includes:
  • $368 value - save 41% over individual course prices
  • All course downloads and templates you can tailor to your organization
  • 30 Days Money Back Guarantee
  • Study on your own terms with 24/7 access
  • Revisit any lesson as many times as you like
  • Access from anywhere across multiple devices
Buy $217.00

We Have Served Over 1,000 Professionals from All Experience Levels!

What Our Students Say

Our students have grown their skills by taking our courses. Here are just a few of their stories.

“Very good overview of the introduction to the electricity business. I just recently started a job with a utility and am taking some courses to learn as much as possible about the electricity industry. Will definitely be taking another course through utilityeducation.com”

— Jennifer

“The Intro to FERC class is a well thought out, easy to understand course for beginners!”

— Ted

“This was an incredible overview! I cannot wait to share this with others. I LOVED how you explained things. You have great speaking and explanation skills.”

— Nicole

“The title of the Introduction to FERC Accounting is a great description of the course materials. Very informative course!”

— Tara

“I came looking for an introduction to utilities course and I'm glad I took this one. Russ was great and explained everything really well. It was great learning from someone who has actually been in the industry and knows about both the finance and utility sectors. I will be taking more courses!”

— Kritant

“I did not have a lot of knowledge about utility construction accounting or standard units, but this course was a good overview of the process and very understandable to a newbie.”

— Matt

“Great training for our Board members.”

— Noah

“I am new to the Coop world and this did help me. Thank you!”

— Kristin

“Good basic understanding of RUS and the chart of accounts. I came from outside the utility world and was quite lost. This class helps to provide a basic foundation.”

— Julie

“Was a quick, easy and great information!”

— Mary

Course Accreditation, Requirements, and Refund and Cancellation Policy
Course #: FT-1, FT-4, FT-5, B-1

Program Level: Basic

Area of Study: Accounting - Technical

Delivery: QAS Self Study

Prerequisites: None

Advanced Preparation: None

CPE Credits: 4.50 for all courses

Last Reviewed: 8.1.24

Access Period: 12 months

Exam Questions: 20 for all courses

Passing Grade: 70%

Retakes: Unlimited

Refunds and cancellations: Requests for refunds must be made in writing within 30 days for purchasing the course. No refunds will be granted after the qualified assessment has been completed. For any concerns, please contact us at 608 628 4020 or at [email protected].
Instructor

Utility Accounting and Rates Specialists, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor 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 submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.

I have questions!
Help & FAQ
What is included with the courses and how long do I have access?
All video lessons and course downloads are included in all courses. You have lifetime access to the courses and future updates.
Where does the information come from in the courses?
The information is taken from industry best practices and the experience of the instructor in working with power and utilities organizations.
How do these courses add value to my organization and my career knowledge?
Knowledge is power (forgive the electric pun). But these courses add to your knowledge, making your career skills deeper and giving you tools to provide value to your organization.
Are the courses eligible for continuing education credits?
Yes! Utility Accounting and Rates Specialists, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor 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 submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.
Are there course downloads so I can follow along?
All of the course materials can be downloaded for each lesson. They are in PDF and Excel formats. You'll generally see them at the beginning of the course in the introduction section, Lesson 1, or scattered throughout the lessons as fitting the topic.
What if I have more questions?
We welcome your questions anytime. Just email [email protected]. Thanks!