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Moved by Commissioner Bell and seconded by Commissioner Westgaard that <br /> $500,000 of the unrestricted reserve balance for the Electric Utility Fund be <br /> designated for the PCA buffer, and the remaining amount be designated towards <br /> electric service territory transfer costs and future capital infrastructure costs; and the <br /> unrestricted reserve balance for the Water Utility Fund be designated for future <br /> capital infrastructure costs. Motion carried 5-0. <br /> 4.3 2017 Utilities Performance Incentive Compensation Distribution <br /> Ms. Slominski presented the 2017 performance metrics and incentive compensation score <br /> card on which the employees had successfully achieved all of the company performance <br /> metrics targets, except for one (the Water Loss metric). Per the policy, qualifying <br /> employees would be eligible for a 1.90%distribution. The Commission had a few <br /> questions. Staff responded. <br /> Moved by Commissioner Nadeau and seconded by Commissioner Stewart to award <br /> the Performance Metrics Incentive Compensation distribution of 1.90% to qualifying <br /> employees per the terms of the policy. Motion carried 5-0. <br /> 4.4 Public Purpose Expenditure Policy <br /> Ms. Slominski provided some background on the existing Public Purpose Expenditure <br /> Policy that was adopted in 2011. She shared that the policy was originally obtained from <br /> the City and modified to fit ERMU's needs. <br /> In review of the policy, staff has identified items that have been retained from the City <br /> policy that are not necessary, some additional items that have been introduced since 2011, <br /> and some items longstanding in practice that were absent. Ms. Slominski presented the <br /> revised policy and went over the highlighted changes. Other minor changes were largely <br /> due to semantics and clarifying verbiage. Staff indicated that Attorneys Beck and Campbell <br /> Knutson had both had the opportunity to review the policy being presented. <br /> Moved by Commissioner Westgaard and seconded by Commissioner Nadeau to <br /> approve the revised Public Purpose Expenditure Policy. Motion carried 5-0. <br /> 5.0 BUSINESS ACTION <br /> 5.1 Financial Report—February 2018 <br /> Ms. Slominski presented the February 2018 financial report as outlined in her memo. <br /> Page 4 <br /> Regular Meeting of the Elk River Municipal Utilities Commission <br /> April 10,2018 <br />