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Mr. Adams recognized Ms. Canterbury for all the hard work she put in to complete this four- year project. Moved by Commissioner Nadeau and seconded by Commissioner Westgaard to approve the following: • Adopt new governance policies: G.4e1, G.4e2, and G.4e3. • Delegate authority to management and move the following policies to the Management Policy Manual: A.1, E.1, and W.1. Motion carried 5-0. 4.2 Deposit Policy At the April 14, 2020 commission meeting, the commission discussed the current Customer Deposit Policy and directed staff to research other utilities polices and bring that information back to the May meeting. Ms. Nelson provided an update and explained that staff is still in the process of gathering data from Minnesota Municipal Utilities Association, American Public Power Association, and other neighboring utilities. She noted that this will be brought back to the commission at a later date once all the information has been compiled. 5.0 BUSINESS ACTION 5.1 Financial Report— March 2020 Ms. Karpinski presented the March 2020 financial report as outlined in her memo. Ms. Karpinksi noted that usage and revenue were down for March but so were expenses, ultimately leading to a favorable financial month. Ms. Karpinksi stated that year-to-date financials compared to 2019 and budgeted totals were also favorable. Commissioner Stewart had a question about the relationship between the April purchased power and the April usage on the sales and usage graphs presented. Staff responded. Chair Dietz had a question about the increase in water connection fees compared to the previous year. Staff confirmed that this was due to the City's new multipurpose facility. Moved by Commissioner Stewart and seconded by Commissioner Bell to receive the March 2020 Financial Report. Motion carried 5-0. Elk River Municipal Utilities Commission Meeting Minutes May 12, 2020 Page 3