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2.2 ERMUSR 10-11-2022
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2.2 ERMUSR 10-11-2022
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Ms. Karpinski explained that the Power Cost Adjustment will be billed at 14 millsin <br />September, 18 mills in October, and20 mills for November and December. Ms. Karpinski <br />estimated there will be a $1.2 million accrual that will need to be passed on by the end of <br />the year, adding that at 20 mills that balance can be made up in the first couple months if <br />the Energy Adjustment Clause comes down. <br /> <br />Ms. Karpinski noted water is having a favorable year. <br /> <br />Commissioner Bell asked staff when they expect to see favorable budget numbers. Ms. <br />Karpinski explained she could not guarantee when the financials would become favorable <br />but there was no need to panic. There was discussion. <br /> <br />Commissioner Westgaard requested in coming months that staff provide a plan to <br />mitigate challenges. There was discussion. <br /> <br />Moved by Commissioner Nadeau and seconded by Commissioner Stewart to receive the <br />July 2022 Financial Report. Motion carried 5-0. <br /> <br />5.3 2023 Annual Business Plan: Capital Projects & Equipment Purchases, and 20-Year Capital <br />Projections <br /> <br /> Ms. Karpinski presented the annual business plan highlighting major projects such as <br />Advanced Metering Infrastructure (AMI) implementation, the Highway 169 Redefine project, <br />vehicle purchases, and transformer cost increases. <br /> <br /> Ms. Karpinski noted one item that will change is the fiber loop to Auburn Water Tower. This <br />item is expected to cost closer to $90,000 rather than the $38,000 listed in the budget but <br />added that the City could also be contributing. <br /> <br /> Commissioner Stewart had questions about the streetlight line item. Staff responded. <br /> <br /> Commissioner Stewart asked about the depreciation life for AMI. Ms. Karpinski responded <br />that it is believed to be on a 15-year schedule. <br /> <br /> Chair Dietz had a question on the source of funding for electric and water projects. Staff <br />explained that half of the funding would come from reserves the other from the annual <br />margin. Ms. Slominski explained that the amounts for 2023 are comparable to previous years. <br /> <br /> Commissioner Stewart asked what “VFD” stood for in the Well #7 VFD line item. Mr. Ninow <br /> responded that it stood for variable frequency drive which allows the user to select the well <br /> motor’s speed. Commissioner Stewart recommended adding that acronym to the glossary of <br /> acronyms provided to the commissioners annually. <br /> <br /> <br />Elk River Municipal Utilities Commission Meeting Minutes <br />September 13, 2022 <br />Page 7 <br /> <br />36 <br /> <br />
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