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4.6 Third Party Attachment to Assets Policy <br />Ms. Slominski provided background on the goal for this policy, explaining how it gives <br />ERMU control over protecting its assets such as streetlights, power line poles, and water <br />towers which can have agreed upon attachments from other entities. Ms. Slominski <br />explained this policy helps minimize the need for costly repairs or replacements. <br />There was discussion about how this policy applies to the downtown decorations. <br />Moved by Commissioner Nadeau and seconded by Commissioner Stewart to approve the <br />proposed ERMU Commission Policy G.414 — Third Party Attachment to Assets. Motion carried <br />5-0. <br />5.0 BUSINESS ACTION <br />5.1 Financial Report — October 2022 <br />Ms. Karpinski presented the financial report for October 2022. She noted that YTD electric <br />usage is down a little over 7% and water usage is down a little over 8%. Electric sales are a <br />little behind budgeted monthly net profit while water is slightly above. She added that the <br />electric department has been managing expenses well but the biggest impact to the <br />budget is the Energy Adjustment Clause passed on by the power provider, while water's <br />expenses are favorable to budget. <br />Chair Dietz had submitted questions to staff prior to meeting and Ms. Karpinski provided <br />responses to the Commission. <br />Chair Dietz asked why the Other Electric Sales line item is negative for October. The <br />response noted that it is not negative YTD but explained that the line item includes the <br />accrual for the Power Cost Adjustment which will be billed to customers and that in <br />October ERMU billed more to reduce the accrual. <br />Chair Dietz asked why there was a large increase in the Maintenance Expense line item. <br />The response named contracted tree trimming and increased fuel costs as causes for the <br />increase. <br />Chair Dietz asked why there was a large increase in the Other Operating Expense line <br />item. The response explained there was a large credit adjustment due to a change in the <br />types of insurance ERMU offers staff. <br />Chair Dietz asked why investment interest is negative. The response explained that this <br />recognizes bear market value of those investments. <br />Elk River Municipal Utilities Commission Meeting Minutes <br />December 13, 2022 <br />Page 5 <br />43 <br />