6.1. ERMUSR 11-12-2013 - Laserfiche WebLink

Home Browse Search

A:4h Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: Elk River Municipal Utilities Commission Theresa Slominski— Finance and Office Manager John Dietz—Chair Al Nadeau—Vice Chair Daryl Thompson—Trustee MEETING DATE: AGENDA ITEM NUMBER: November 12, 2013 6.1 SUBJECT: Staff Update DISCUSSION: We had 2,491 credit card payment transactions in October, compared to 2,266 in September. The fee for October should be $5,604.75. Our employee insurance meetings are scheduled for the first week of November,November 5th and 6th, when we will be bringing in a representative from Blue Cross & Blue Shield and David Martin Agency to review the new HSA plan with staff. We have been providing information in a FAQ presentation to help answer questions and prepare employees for the decision of which insurance plan to participate in. Staff have been asking a lot of great questions, which indicates to me that they are at least considering the HSA plan. I will provide a verbal update at the commission meeting. We currently have $196,784 in PCA credits - through September's billing from our power provider and our distribution of credits in the same month. October's power bill had not been received as of the date this update is being prepared but I will continue to update the commission on this balance. As stated before, we would like to be able to distribute remaining PCA credits in December. We have begun some work with our new financial advisor, Springsted, in reviewing our bonds relative to any potential refinancing and bond arbitrage reporting. They were onsite and met with myself and staff at the City and provided some additional follow-up information. A potential for refunding does exist with our 2006A bond for a savings of approximately $120,000 over the remaining 8 years. We have our go-live dates for our NISC software! The accounting piece of the software will be implemented in August 2014 and the customer billing piece will be implemented in February 2015. This was the soonest we could get on their calendar of work. lam: ewrnto 11 { Page 1 of 1 I1 NATURE Reliable Public Power Provider POWERED To SERVE 98