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In addition to me, the Association welcomed several new board members. <br /> The Board approved changes to the association's resolutions process. <br /> The Board approved changes to the corporate associate membership dues structure. <br /> The Board reviewed the association's reserves policy. <br /> • On October 29 in Mason City, IA, the Midwest Municipal Transmission Group (MMTG) <br /> held their annual membership meeting and a meeting of the board of directors. <br /> participated via conference call. MMTG is an organization of Minnesota and Iowa <br /> municipal utilities which helped ERMU obtain the rights to own transmission in the <br /> Midcontinent Independent System Operator (MISO) footprint. Because of this group, <br /> ERMU was then able to invest in the CAPX2020 Brookings transmission line through <br /> Central Minnesota Municipal Power Agency(CMMPA). I have been on the board since <br /> 2009.The following topics were discussed and action items taken: <br /> Our legal counsel, Spiegel & McDiarmid, provided regulatory updates on: the Federal <br /> Energy Regulatory Commission (FERC), status on return on equity (ROE) proceedings, tax <br /> changes and implications, energy storage, distributed energy resources and aggregators, <br /> resiliency of the grid, FERC commissioner appointments, and Public Utility Regulatory <br /> Policies Act (PURPA). <br /> The board chair provided an update on transmission opportunities. <br /> The Board reviewed and approved the 2020 budget, zonal dues, and general <br /> membership dues. Due to the generally stagnant load across the membership, the <br /> impact to the members' dues remains basically at the same levels as 2019. For ERMU, <br /> 2020 dues are the same as 2019 dues at $6,549 annually. Since the departure of Willmar <br /> from MMTG, ERMU is the only member in the Great River Energy MISO zone leaving the <br /> total GRE zonal fund balance for ERMU.This fund is used for transmission related <br /> litigation and interventions. <br /> The Board approved a financial reserves and investments policy regarding liquidity. <br /> • The applicant for the Information Technology/Operational Technology Manager <br /> position has rescinded acceptance of our job offer. <br /> ATTACHMENTS: <br /> • MMPA 3Q Unaudited Financials—September 30, 2019 <br /> • Bring Me The News—Xcel Energy proposes 15.2%electricity price hike over 3 years— <br /> November 2, 2019 <br /> Page 2 of 2 <br /> 224 <br />