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2.0 CONSENT AGENDA (Approved By One Motion) <br />Moved by Commissioner Zerwas and seconded by Commissioner Stewart to approve the <br />Consent Agenda as follows: <br />2.1 Check Register —June 2025 <br />2.2 Regular Meeting Minutes —June 3, 2025 <br />2.3 Water Tower Attachment —Lease Amendment (Verizon) <br />Motion carried 5-0. <br />3.0 OPEN FORUM <br />No one appeared for open forum. <br />4.0 POLICY & COMPLIANCE <br />4.1 Commission Policy Review — G.4d —Customer Interests <br />The Commission reviewed the policy, which outlines expectations for management's <br />understanding and response to customer needs. <br />Commissioners agreed the policy remains aligned with core values. No action was <br />required. <br />5.0 BUSINESS ACTION <br />5.1 Financial Report —May 2025 <br />Ms. Karpinski presented the report, noting that her second slide was labelled "January <br />2025 —April 2025" when it should say "January 2025 — May 2025." She went on to <br />highlight statistics in the report including a year-to-date budget net of $735,000 which is a <br />3.8% margin. Electric operations were at a 6.89% margin, $700,000 favorable to budget, <br />and about $700,000 above prior year. Water operations was at a loss of 46.29%, which is <br />typical for this time of year. The water budget is $214,000 favorable to budget but <br />$120,000 below prior year. <br />Receivables are 93% current with only 3% over 90 days past due thanks to the efforts of <br />the customer service team. <br />There was an increase in revenue from new tower lease agreements. In response to a <br />question, Ms. Karpinski confirmed that the budget has to show the full lease amount <br />including any likely extensions. <br />Elk River Municipal Utilities Commission Meeting Minutes <br />July 8, 2025 <br />Page 2 <br />IR <br />