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<br />Page 5 <br />Regular meeting of the Elk River lvfunicipal Utilities Conul1ission <br />Septen1ber 13~ 2005 <br /> <br />6.3 Investment Policy <br />~~n investnlent policy \\ias proposed as there is currently none in place. f\t the audit~ the <br />suggestion \vas 111ade that \ve eXl)lore other conservative investn1ents that 1113Y offer a <br />111arginally better return. The city~ s policy \vas acquired and 1110dified for the utilities ~ nan1e~ <br />and to include an investnlent COll1111ittee instead of sole responsibility \vith the r:inance <br />Director. JOhll Dietz 111otiol1ed to adopt the Investnlent Policy as presented and Jinl Tralle <br />seconded. l\rlotion passed 3-0. <br /> <br />6.4 Electronic Bill Pavrnent Processing \7 eodol'" <br />Due to the continued gro\\1h of cust0111erS utilizing bill paynlent ser\'ices through tlleir <br />respective banl(s~ and the processing tiBle CUITently associated \virh it~ an electronic bill <br />pa)'l11ent processillg vendor \vas proposed. This \vould be approxinlately 1/3 of the ClllTent <br />cost of stafftinle utilized to process these paynlents and it could be done llluch faster. This <br />\vould allo\v staff to have Blare tinle to focus on other aspects of custoll1er service. Theresa <br />S10111illSki l1lade a presentation 011 the bill pa)'111ent process. Questions \vere asked concel11illg <br />the tel111S of the agreenlent. Jinl Tralle 1110tioned to adopt the electronic bill paynl.ent <br />processing ve11dor and] 01111 Dietz seconded. 1\/lotion c3J.Tied 3 -0. <br /> <br />Other Business <br /> <br />J Oh11 Dietz questioned if ell) funds could be used for EIiergy City acti\ritjes. Bry'an <br />i\danls responded they could ifrhe)/ \vere 111easurably energy saving~ for instance~ energy <br />savillg equipnlcnt for Energy I-louse III. <br /> <br />John Dietz presented a letter frorTI a fornler enlployee \vhich \vas discllssed and a <br />response \\'ill be forthcol11ing. <br /> <br />l-he l1ext regularly scheduled 111eeting of the Ell( River rVlunicipallTtilities <br />C0111.l11issiol1 \vill beTuesday'~ October 11 ~ 2005 at 4:00pn1. <br /> <br />President Jerry Takle adjourned the regular 111eeting of the Elk River i\-1unicipal <br />LTtilities COllli11ission at 6:45p.111. <br /> <br />Respectfully subn1itted~ <br /> <br />Theresa S l0111inskj <br />OfTi ce l\/lal1ager <br />