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ELK RIVER MUNICIPAL UTILITIES <br /> REGULAR MEETING OF THE <br /> ELK RIVER MUNICIPAL UTILITIES COMMISSION <br /> November 12, 2002 <br /> Members Present: James Tralle,President; John Dietz, Vice Chair; George Zabee, Trustee <br /> Staff Present: Bryan Adams, General Manager; David Berg, Water Superintendent; Patricia <br /> Hemza, Office Manager <br /> 1. Call meeting to order <br /> President James Tralle called the meeting to order at 4:00 PM on November 12, 2002, <br /> at the Environmental Learning Center located at the Landfill Gas Facility. <br /> 2. Consider Utilities Agenda <br /> John Dietz moved to approve the Utilities Agenda for November 12, 2002. George <br /> Zabee seconded the motion. Motion carried 3-0. <br /> John Dietz moved to approve the Consent Agenda as follows: <br /> October 2002 Check Register <br /> October 10, 2002 Minutes <br /> Financial Reports <br /> After a brief discussion of the reports, George Zabee seconded the motion. Motion carried <br /> 3-0. <br /> 5.1 Review and Consider Electric & Water Springstad Cash Projections <br /> Bryan reviewed income statement projection spreadsheets, which are based upon the <br /> original Springstad water department statement. The use of the financial models projects the <br /> effects of growth rates and rate changes. The statements used for this application are based <br /> on the 2003 budget assumptions. John Dietz questioned profit margins, and directed Staff to <br /> check out other Utilities. James Tralle asked if the Utilities should continue to pass on <br /> wholesale rate increases for power to the customers in order to further fund capital projects. <br /> The Commission and Staff agreed that it appears that the Electric and Water Departments can <br /> accommodate growth, and maintain acceptable cash balances. <br />