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elaborate on the scores submitted. Staff is working to restructure the survey accordingly <br />and will provide a final draft for commission approval prior to the survey being conducted. <br />Commissioner Stewart suggested moving the Annual Commission Performance Evaluation <br />from July to June. There are currently no agenda items scheduled in June and July is <br />already tasked with the review and update of the strategic plan. <br />There was consensus to move the Annual Commission Performance Evaluation to June. <br />Moved by Commissioner Stewart and seconded by Commissioner Westgaard to adopt the <br />amended 2024 Governance Agenda. Motion carried 5-0 <br />4.3 2024 Performance Metrics and Incentive Compensation Policv <br />Mr. Hanson presented the 2024 Performance Metrics and Incentive Compensation <br />(UPMIC) Policy noting a change to the Residential Clean Energy Choice participation <br />metric from net 15 to net 30 participants to ensure staff is challenged to meet its goals. <br />Mr. Hanson also identified an error in the last line under the financial impact portion of <br />his memo. The actual distribution will be awarded in 2025 not 2024. <br />Chair Dietz asked if there are any other areas that need to be changed to make reaching <br />the UPMIC goals more challenging for staff. The commission agreed no additional changes <br />need to be made at this time. <br />Moved by Commissioner Bell and seconded by Commissioner Stewart to approve <br />Performance Metrics and Incentive Compensation Polity and Scorecard for 2024. Motion <br />carried 5-0 <br />4.4 Competitive Rates Analysis <br />Mr. Hanson reviewed the history of the competitive rate analysis, which began in January <br />2023 under then General Manager Theresa Slominski. Mr. Hanson noted it will continue <br />to be brought to the commission annually to provide an opportunity to review <br />comparable utilities' rates prior to setting ERMU rates. The information presented <br />includes 10-year data trends for ERMU and similar utilities. <br />Mr. Hanson highlighted that ERMU residential electric rates are trending downward <br />making our rates more competitive. <br />Commissioner Stewart asked if the Power Cost Adjustment (PCA) is part of the calculation <br />when reporting the residential electric rates. Mr. Hanson confirmed that the PCA is <br />included. <br />Elk River Municipal Utilities Commission Meeting Minutes <br />December 12, 2023 <br />Page 3 <br />