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fund be designated toward the $500,000 buffer for PCAs, electric service territory transfer <br /> costs, and future capital projects. The Commission had a few questions. Staff responded. <br /> Moved by Commissioner Thompson and seconded by Commissioner Nadeau that <br /> $500,000 of the unrestricted reserve balance of$6,564,901 for the Electric Utility fund <br /> be designated for the PCA buffer, and the remaining amount be designated towards <br /> future capital projects and electric service territory transfer costs. Motion carried 4-0. <br /> Ms. Slominski presented the year-end water reserve balance and calculations. Staff <br /> recommended that the unrestricted balance above the target level for the Water Utility fund <br /> be designated for future capital projects. <br /> Moved by Commissioner Nadeau and seconded by Commissioner Stewart that the <br /> unrestricted reserve balance of$3,155,381 for the Water Utility fund be designated <br /> for future capital projects. Motion carried 4-0. <br /> 4.3 2016 Utilities Performance Incentive Compensation Distribution <br /> Mr. Adams presented the 2016 performance metrics and incentive compensation score card <br /> on which the employees had successfully achieved all of the company performance metrics <br /> targets, except for one (the CAIDI metric). Per the policy, qualifying employees would be <br /> eligible for a 1.90% distribution. Staff reminded the Commission that in the fall of last <br /> year, the Commission had re-evaluated the scorecard criteria used for measurement, and <br /> had approved a revised performance metrics incentive compensation scorecard that would <br /> go into effect for the 2017 measurement period. Ms. Slominski indicated that staff would <br /> be presenting the new scorecard along with the first quarter results at the next Commission <br /> meeting. <br /> Moved by Commissioner Stewart and seconded by Commissioner Nadeau to award <br /> the Performance Metrics Incentive Compensation distribution of 1.90% to qualifying <br /> employees per the terms of the policy. Motion carried 4-0. <br /> 5.0 BUSINESS ACTION <br /> 5.1 Financial Report—February 2017 <br /> Ms. Slominski presented the February 2017 financial report. Chair Dietz asked if a majority <br /> of the increase in administrative expenses was due to insurance. Ms. Slominski responded <br /> that it was. She explained that the increase in medical was largely driven by the increased <br /> participation in the HSA plan, which increased the employer HSA contribution that was <br /> recognized in January. <br /> Page 4 <br /> Regular Meeting of the Elk River Municipal Utilities Commission <br /> April 11,2017 <br /> 95 <br />