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UTILITIES COMMISSION MEETING <br />TO:FROM: <br />ERMU Commission Melissa Karpinski –FinanceManager <br />MEETING DATE: AGENDA ITEM NUMBER: <br />June 14, 2022 6.1c <br />SUBJECT: <br />Staff Update <br />ACTION REQUESTED: <br />None <br />DISCUSSION: <br />The accounting department is continuing to work on record retentionas time permits. <br />The annual MISO (Midwest Independent System Operator) reporting has been <br />completed for 2020. These reports are used in determining the transmission rebateswe <br />will receive being a part owner of the transmission systems with Midwest Municipal <br />Transmission Group. <br />2021 Minnesota Department of Revenue Sales and Use Tax Refund Request (ST11) has <br />been filed in the amount of $20,565.01. <br />We received our property and liability insurance renewal for July 1, 2022 to July 1, 2023. <br />The total premium increase is approximately 18% over the prior year; $164,345 <br />compared to $139,308. Water/Sewer and Electric Utility type occupancies saw large rate <br />increases, which is what makes up most of the property schedule. A breakdown of the <br />premium increase is below. <br />Premium <br />Coverage 2022 2021 % Change <br />Property$48,709 $32,478 49.98% <br />Mobile Property $ 1,447 $ 1,019 42.00% <br />Municipal Liability $ 29,224 $ 27,688 5.55% <br />Auto Liability$ 3,589 $ 3,718 -3.47% <br />Auto Physical Damage $ 3,423 $ 3,447 -0.70% <br />Bond $ 596 $ 593 0.51% <br />Equipment Breakdown$ 71,460 $ 70,365 1.56% <br />First Party Cyber $ 5,897 $ -- <br />Total Premium$ 164,345 $139,308 17.97% <br />______________________________________________________________________________ <br />Page 1 of 1 <br />159 <br />