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ERMU Management Policy – A.10 Financial Reserves Policy <br />______________________________________________________________________________ <br /> <br />______________________________________________________________________________ <br /> <br />Page 3 of 3 <br />If the year-end reserve balances are below their target levels after the completion of the year- <br />end audit, the Utilities Commission shall consider the balances and plan for their replenishment <br />to target levels in a timely manner. <br /> <br />5.0 Inter-Utility Adjustments <br />If the year-end reserve balances are sufficient to sustain the transfer, the Utilities Commission <br />may opt to use inter-utility adjustments for loans between electric and water utilities in lieu of <br />external borrowing. <br />POLICY HISTORY: <br /> <br />Adopted May 11, 2010 <br />Revised May 10, 2011 <br />*Moved November 12, 2019 <br />Revised July 14, 2020 <br />Revised December 9, 2025 <br /> <br />*As part of the Policy Manual Initiative, authority of this Financial Reserves Policy was <br />delegated to management on November 12, 2019, and the policy was moved to the <br />Management Policy Manual. <br />148