2.2 EMRUSR 08-13-2024 - Laserfiche WebLink

Home Browse Search

Mr. Hanson made the point that the pay plan is no longer market leading if the Commission chose the market lagging plan and reduced or eliminated the UPMIC, adding the Commission could choose a market leading payment plan and decide to remove the UPMIC program when the policy is reviewed later in the year. He encouraged the Commission to make these decisions separately as there appeared to be consensus on the plan, implementation, and effective date. Ms. Towne again supported that approach, noting there are many potential variables to supplemental income whereas the base pay being proposed is more stable year to year. Ms. Karpinski followed up with information on the UPMIC payout, explaining that over the last six years it had been paid out at the full amount twice. The Commission agreed, with there being no impact to the effective date, it would be preferable to wait to vote at the August regular meeting when the requested information could be provided. Moved by Commissioner Zerwas and seconded by Chair Dietz to postpone action to the August regular commission meeting. Motion carried 5-0. 5.2 Financial Report — May 2024 Ms. Karpinski presented the May 2024 Financial Report. Ms. Karpinski highlighted a reduction in the Cash line item of the Electric Balance sheet due to removing $7 million from savings to be placed in investments. She confirmed there was still an amount staff was comfortable with in savings. She reported generally that as of May, the finances were looking good. Moved by Commissioner Westgaard and seconded by Commissioner Stewart to receive the May 2024 Financial Report. Motion carried 5-0. 5.3 Advanced Metering Infrastructure Update Mr. Tietz presented his memo to the Commission. There was discussion. Elk River Municipal Utilities Commission Meeting Minutes July 9, 2024 Page 8 37