Laserfiche WebLink
______________________________________________________________________________ <br /> <br />Page 1 of 1 <br /> <br /> <br /> <br /> <br /> <br />UTILITIES COMMISSION MEETING <br /> <br />TO: <br />ERMU Commission <br />FROM: <br />Tony Mauren – Governance & Communications Manager <br />MEETING DATE: <br />May 13, 2025 <br />AGENDA ITEM NUMBER: <br />2.3 <br />SUBJECT: <br />Policy Update - Utilities Performance Metric Incentive Compensation <br />ACTION REQUESTED: <br />Approve recommended updates to policy <br /> <br />BACKGROUND/DISCUSSION: <br />Recently staff noticed that the last paragraph of the ERMU Policy G.4g1 – Performance Metrics <br />and Incentive Compensation established the following distribution process. <br /> <br />The UPMIC Performance Based Compensation Incentive distribution will be made to <br />Qualifying Employees on the first payroll date after the thirty-day period following the <br />date on which the Commission formally receives its annual auditor’s report in an open <br />meeting. <br /> <br />Per finance staff, this is not the current practice, as distributions are able to be made within two <br />weeks of approval of the audit. Per counsel, there is no legal reason why the distribution would <br />need to be provided as written. Legal counsel did recommend establishing a time window for <br />distribution so staff would be able to expect the funds within a set period. In order to not <br />unnecessarily delay distributions and establish that timeline, staff is proposing the following <br />paragraph replace it. <br /> <br />The UPMIC Performance Based Compensation Incentive distribution will be made to <br />Qualifying Employees within thirty days of the date on which the Commission formally <br />receives its annual auditor’s report in an open meeting. <br /> <br /> <br />ATTACHMENTS: <br />• Updated ERMU Policy - G.4g1 - Performance Metrics and Incentive Compensation <br />51