4.2 ERMUSR 08-10-2021 - Laserfiche WebLink

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______________________________________________________________________________ Page 1 of 2 UTILITIES COMMISSION MEETING TO: ERMU Commission FROM: Michelle Canterbury – Executive Administrative Manager MEETING DATE: August 10, 2021 AGENDA ITEM NUMBER: 4.2 SUBJECT: Inventory Policy ACTION REQUESTED: • Approve the delegation of authority to management and move the Inventory Policy from the Commission Policy Manual to the Management Policy Manual. • Approved the revised G.4l Protection of Assets Policy. BACKGROUND: In 2017, the Commission worked with staff and a consulting firm to develop governance policies based on the Carver Model of governance. In 2019, an initiative was created to develop a migration plan for relevant old policies to become part of the new Commission Policy Manual, confirm delegation of authority to management for old policies that are not governance, and eliminate or remove documents that are not policy. At the October 8, 2019, commission meeting, the Commission addressed the personnel section of the old policy manual and approved moving nine personnel policies to the Commission Policy Manual, one of those being the Inventory Policy. DISCUSSION: The final step of the policy manual initiative is the review of policies transferred over to the Commission Policy Manual. The review process includes making any necessary updates, formatting, and creating new policies that were identified. Any proposed changes or new policies will be presented to the commission for consideration and approval. After review of the G.4l2 Inventory Policy that was transferred over to nest under G.4l Protection of Assets, we determined that the policy outlines our inventory management procedures and controls. In addition, commission policy G.41 Protection of Assets sets the expectation and states “the General Manager shall implement and maintain management policies and procedures that establish effective and sufficient controls with appropriate checks and balances, including separation of duties, which are regularly tested for adequacy and compliance. Functions that require such management policies and procedures include, but are not limited to designation of banking signatories and transactions, cash management, accounting, and procurement of goods and services.” As the Inventory Policy contains downstream policy and procedure required by the Commission’s Protection of Assets Policy it should be classified as management policy. 48