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<br />Phone: 7b3.441.ZOZ~ <br />Fax; ~b3.441.8~99 <br />April 7, Za 1 a <br />To: Elk River Municipal Utilities Commission <br />John Dietz <br />Jerry Gumphrey <br />Daryl Thompson <br />From: Troy Adams <br />Subject: Review and Consider Reserves Policy <br />The investment Committee provided and update to the Commission on the need for a reserves <br />policy during the March 9~h Commission meeting, The Commission directed staff to draft a <br />reserves policy and bring back to the Commission for review. <br />Staff has utilized the resources of Minnesota Municipal Utilities Association, Abdo Eick ~ <br />Meyers, and Ehlers and Associates to compile and compare reserve policies and reserve target <br />criteria from other Minnesota municipal utilities. From this data, the investment Committee <br />conducted an analysis to determine criteria that would be applicable for Elk River Municipal <br />Utilities to adopt as policy, The investment Committee will meet on April 13~h prior to the <br />Utilities Commission meeting and will provide an update and recommend reserve criteria at the <br />Commission meeting, <br />