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SEP-15-2005 02:58PM FROM-ERMU + T-276 P.005/005 F-039 <br /> • Page 5 <br /> Regular meeting of the Elk River Municipal Utilities Commission <br /> September 13,2005 <br /> 6.3 Investment Policy <br /> An investment policy was proposed as there is currently none in place. At the audit,the <br /> suggestion was made that we explore other conservative investments that may offer a <br /> marginally better return. The city's policy was acquired and modified for the utilities' name, <br /> and to include an investment committee instead of sole responsibility with the Finance <br /> Director. John Dietz motioned to adopt the Investment Policy as presented and Jim Tralle <br /> seconded. Motion passed 3-0. <br /> 6.4 Electronic Bill Payment Processing Vendor <br /> Due to the continued growth of customers utili-ring bill payment services through their <br /> respective banks, and the processing time currently associated with it,an electronic bill <br /> payment processing vendor was proposed. This would be approximately 1/3 of the current <br /> cost of staff time utilized to process these payments and it could be done much faster. This <br /> would allow staff to have more time to focus on other aspects of customer service. Theresa <br /> Slominski made a presentation on the bill payment process. Questions were asked concerning <br /> the terms of the agreement. Jim Tralle motioned to adopt the electronic bill payment <br /> processing vendor and John Dietz seconded. Motion carried 3-0. <br /> 410 Other Business <br /> John Dietz questioned if CIP funds could be used for Energy City activities. Bryan <br /> Adams responded they could if they were measurably energy saving,for instance, energy <br /> saving equipment for Energy House Ill. <br /> John Dietz presented a letter from a former employee which was discussed and a <br /> response will be forthcoming. <br /> The next regularly scheduled meeting of the Elk River Municipal Utilities <br /> Commission will be Tuesday,October 11,2005 at 4:00pm. <br /> President Jerry Takle adjourned the regular meeting of the Elk River Municipal <br /> Utilities Commission at 6:45 p.m. <br /> Respectfully submitted, <br /> Theresa Slominski <br /> Office Manager <br /> • <br />