6.1b ERMUSR 10-09-2018 - Laserfiche WebLink

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Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Theresa Slominski—Finance & Office Manager MEETING DATE: AGENDA ITEM NUMBER: October 9, 2018 6.1 b SUBJECT: Staff Update ACTION REQUESTED: None DISCUSSION: • Our bond funding was completed on Wednesday, September 26 with the receipt of $10,238,289.20. We then made our final payment to Minnesota Municipal Power Agency (MMPA) for$11,708,024.78 on Friday, September 28, and began taking power on Monday, October 1,2018. We will be able to cover the bond payments with the savings in power costs, and still keep our rates low for our customers. There will be a final true-up of the buy- in amount determined after the finalization of the MMPA September financial statements which may require an additional payment, or a return of funds, depending on the final calculations. The American Public Power Association(APPA)had a nice little spotlight in their daily newsletter regarding the transition of power providers, and MMPA had a nice information piece on their website as well. • We celebrated Customer Service Week October 1-5 to recognize the contributions our customer service team makes to the organization in providing excellent customer service every single day. We have a great staff and they seemed very appreciative of the recognition. Thank you for your support of this week of celebrating our excellent customer service staff. • We have been sending out assessment letters with each billing cycle. With the first three cycles there were a total of 396 letters sent, of which 240 of those have already paid. The final cycle has 168, and those letters will go out October 3, 2018. Customers have until the end of October to pay or be assessed. • The Cold Weather Rule (CWR) starts October 15,2018 and is effective through April 15, 2019. Our final scheduled shut-off day will be Wednesday, October 10, 2018. This is the "last chance"to collect payment before the CWR limits are in place, and so typically has more shutoffs than the normal weekly amount. For those using the CWR as it was meant to be used, it is a means to help them retain heat through the cold winter months;however, it is still a challenge after April 15 to pay. • We have received a quote on installing bullet proof glass in the front entry from the top of the counters to the ceiling, and reinforcing the area beneath the counters by installing ballistic rubber in the 8"cavity behind the cabinets. If all goes well,this will be completed by the end of the year, and will cost approximately$20,000. Page 1 of 1 66