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3.1.C. ERMUSR 03-08-2011Elk River ~. Municipal Utilities 13069 Orono Parkway • P.O. Box 430 Elk River, MN 55330-0430 UTILITIES COMMISSION MEETING Phone: 763.441.2020 Fax: 763.441.5099 TO: FROM: Elk River Municipal Utilities Commission Theresa Slominski -Finance Director John Dietz Daryl Thompson Allan Nadeau MEETING DATE: AGENDA ITEM NUMBER: March 8, 2011 Consent A ends SUBJECT: Janua Financials BACKGROUND: January financials are not ready for presentation yet. They will be distributed on Tuesday at the meeting. DISCUSSION: My apologies for not having the financials ready for this packet prior to the meeting date. The graphs have been included for the sales and production numbers. I can tell you that the preliminary numbers are right in line with the budget. The financials with the details and the expenses will be what is distributed on Tuesday. ACTION REQUESTED: None Elk River Municipal Utilities Monthly Electrical Demand so ----. ___._~ ~_ __._._ _ . - .- __----~.___. ___ _ __. _-- _. _ __._ __ _ __, 55 ~ ~~ 50 2010/2011 - ~'-ma ~ ~~ ~ 45 ~ ~ c ~~% `. I ' ~ao ~ ~ ~ ,. ~` %~ 35 ~~ £ .~__ -_i y 30 ~ 2009/2010 25 20 ~~~ ~~ a~Gr PQ~\ ~a~ ,J~e ~J~~ ~Jy~ ~,oe~ ~o~mc F~~` Fie` e o J ° e ~ ~ ~ ~ ey Sa P O ow ~Q ` Qe~ g ~ O Month Elk River Municipal Utilities Monthly Energy Purchases za,ooo 3 z6,ooo c 24,000 22,000 r a 20,000 ~ 18,000 d W 16,000 14 000 , ~`Gr PQC ~~~ Ja~ ~a~ )JC0 ,J~~ ~~~mc ~~~t ~~m~ G~o~mc JAJy` ~ )ac Qm~ 0Q`~ ~ O o,® P g ~ O Month 2010/2011 ~ -•~ i ~ ~ ~~~' ~~i ~~ i i .~ ~~~ 2009/2010 --- - _ _ ----------- - Elk River Municipal Utilities Monthly Total Electric Load i ~ 26,000 _ _ .._ ._ __ _. __ . __ . __ _ ~ ' 24,000 = 3 22,000 ~ 20,000 R 18,000 O J ~ 16,000 r m 14,000 W 12.000 10 000 , Ja~ JQ~ a`G,c PQO ~a~ ~J~g ~J~ AJy~ ~~t o~e` ~~` ~~` 9c ~` PJ ~ tim 0Q ~ Q0 oi 0 O e~ o° ~ ~ ~ Month Elk River Municipal Utilities Monthly Electric Sales $3,000,000 $2,500,000 ~ $2,000,000 0 0 ~ $1,500,000 a m N $1,000,000 $500,000 ~ 2010 2011 \ ~ y ~ ~~~ ~~~ . ~`--- ` -, ~ -, ` ~ ~r 1 ~ ~ ~~~~~~ i 2000/ 010 i i i i $0 0 oaf a~ aor PQC ~a~ ~~ ~ Sao FO~~ ~` Month 2010/2011 .~ ~. ---~~ '~- 2009/2010 I ~`~~ Jy~ 'omc 'o0c 'o0c ~,c PJ~ 5m~`e~ p°~o ~o~°~ O~c,~c`` Elk River Municipal Utilities Monthly Residential, Commerical 8~ Industrial Loads 1 s,ooo 14,000 12,000 ~ 10,000 8,000 N c 6,000 ~i J 4,000 2,000 0 industrial _ ~ 2009/2010 Residential ~~ !~ ~ ~ ~~-~ 2010/2011 Y' ~ Commercial ~ Jai a~ air PQ~ ~a~ ~°°e ~o~~ AJy~ Fig` o~c ~,omc ~~ec ~ lac Q~~~ ~ PJ ~Qtie p'~`' doe Oec~ Month 9 Elk River Municipal Utilities Monthly Residential, Commerical & Industrial Sales $1,400,000 $1,200,000 $1,000,000 o $800,000 O c ~ $600,000 m $400, 000 $200,000 i $0 _. _._~_.w._~_~_._...__ _.___._.__.___~..__.__ _..- --_ Industrial ~~i • i s .' `-.. ~, 'r„~ i ~ i ~ _ i Residential ~~~, _ ~i _ ~~ i 2009/2010 2008/2009 Commercial Jai a~ a``,c PQO ~aa ,°~e ,°~ ~°y~ cc~c ~o~c ~~mc cc~ec Sao Fe~~ ~S. P° 0Q'`0 ~a doe oece Month 5 Elk River Municipal Utilities Monthly Water Pumpage A c 0 c .~ A a E a 140 120 100 80 60 40 20 0 _ _. ___~~ ~ ~~ i ~ ~_~~ onnohMn ~---~! __ ~ - 2010/2011 'acJ ~~~~~ ~a`4r PQC ~aa ,JCe ,J~ PJ~Jy~ e~0~~mc O4`o~0~ ~oe~~c 0~0~~~c Q 5~ Month Elk River Municipal Utilities Peak Day Pumpage 6 5 R C7 G 4 O ~ 3 c_ T A ~ 2 Y A d a ~a°J~~ O,O~a~ ~~o PQC ~~~ )°c0 ,,a P°~J~~ e~0~~ec OGio~~. ?og~~~• 0~~~0 Q ~ Month ~' Elk River Municipal Utilities Monthly Water Sales 120 100 is t7 80 c 0 60 c m 40 m N 20 0 r ~.~ as c~ ~~ Jew ,~~ ,day ,do` ~. ~acJe~ ~e~~aca ~~~, PQ ~q, ~~ ~ PJA ~Q~~ ~~o ~oeF ~0F Month Elk River Municipal Utilities Monthly Water Sales ___..,_ $aoo,ooo $350,000 $300,000 m $250,000 0 ~ $200,000 c m $150,000 ~ $100,000 $50,000 $0 ~QCJ~~ ~O~aA ~`s~r Pic ~Q~ ~JCO ~~~ P°~'Jyc~Q~m~~` ~~~o~`?~~~c0`a~~~c 0 Month .------, ~.~ ~ 2009/2010 ----~F ~~ ~ i ` ~ i ~ 2010/2011 ~ a i .~~ ~ Elk River -= Municipal Utilities 13069 Oto~o Parkway • P.O. Box 430 Flk Rivet, MN 5 5 3 30-0430 UTILITIES COMMISSION MEETING Phone: 763.441.2020 Fax: 763.441.8099 TO: FROM: Elk River Municipal Utilities Commission Theresa Slominski -Finance Director John Dietz Daryl Thompson Allan Nadeau MEETING DATE: AGENDA ITEM NUMBER: March 8, 2011 Consent A enda d. SUBJECT: Bank Resolutions BACKGROUND: With a new commission member, we will need to have our signature cards updated. DISCUSSION: Copies of the three bank's resolutions are attached. Our main bank is First National Bank of Elk River but we also have investments with The Bank of Elk River and Central Bank. At the commission meeting I will have the original resolutions to sign and the various banks' accompanying paperwork for signatures with some additional information. Copies of your driver's licenses are required also, so please allow me make a photocopy fox the bank prior/after the meeting. ACTION REQUESTED: We will need a motion and vote at our meeting to approve this action, and the corporate resolutions (attached for review) will need to be executed. CORPORATE AUTHORIZATION RESOLUTION FIRST NATIONAL BANK OF ELK RIVER gy~,ELK RIVER MUNICIPAL UTILITIES 812 MAIN STREET ELK RIVER, MN 55330 13069 ORONO PARKWAY NW PO BOX 430 ELK RIVER MN 55330-0430 Referred to in this document as "Financial Institution"V'G~ Referred to in this document as "Corporation" ~~~~a,.. I, TROY ADAMS , certify that I am Secretary (clerk) of the above named corporation organized under the laws oS MINNESOTA ,Federal Emp,IDyy el' 41-6005125 ,engaged in business under the trade name of ELK RIVER MUNICIPAL UTILITIES __ d that the resolutions on this document are a correct copy of the resolutions 03/08/11 Idatel. adopted at a meeting of the Board of Directors of the Corpora du;y an operly called and held on These resolutions appear in the minutes of this meeting and have. ~?: be .rescinded or modified. AGENTS Any Agent listed below, subject to any written limitations, ~. authorized to exercise the powers granted as indicated below: Name and Title or Position ~ ~~ ~ ~ ~ Signature q JOHN J DIETZ X X - B DARYL A THOMPSON X _- //X C THERESA SLOMINSKI FINANCE DIRECTOR X ~„-a~ '' -- ~~ ~ LV-G~! D ALLAN E NADEAU X X - E X X _ Facsimile Signature lif used) F. X X POWERS GRANTED (Attach one or more Agents to each power by placing the letter corresponding to their name in the area before each power Following each power indicate the number of Ageni signatures required to exercise the power.) Indicate A, B, C, Description of Power r ~, andicr F 3, D 111 Exercise all of the powers listed in this resolution. 121 Open any deposit or share ac countls) in the name of the Corporation. A, B, C, D I31 Endorse checks and orders for the payment of money or otherwise withdraw or transfer funds on deposit with this Financial Institution. (41 Borrow money on behalf and in the name of the Corporation, sign, execute and deliver promissory notes or other evidences of indebtedness. 151 Endorse, assign, transfer, mortgage or pledge bills receivable, warehouse receipts, bills of lading, stocks, bonds, real estate or other property now owned or hereafter owned or acquired by the Corporation as security for sums borro•.ved, and to discount the same, unconditionally guarantee payment of all bills received, negotiated or discounted and to waive demand, presentment, protest, notice of protest and notice of non-payment. 161 Enter into a written lease for the purpose of renting, maintaining, accessing and terminating a Safe Deposit Box in this Financial Institution. 171 Other LIMITATIONS ON POWERS The following are the Corporation's express limitations on the powers grant ~-~.,. anon. Indicate number of signatures required 2 2 EFFECT ON PREVIOUS RESOL' jr~solVtiore supersedes resolution dated 03/10/09 . If rot a%.resolutions remain in effect. CERTIFICATION OF AUTHORIT: ~i • . . 1 further certify that the Board of , -rs o Pion. has, and at the time of adoption of this resolu , ~. `~.:_'. ,fl•power and lawful authority to nt the resolutions on page 2 anc o co i r. ;~~_.r [s, granted above to the persons named who have tut ;- ~ rand lawful authority to exercise ;ame. (APPIy seal below where aPPr00,rla ~.i ' '.'. ~•' ~.'•'.` L~If checked, the Corporation is a non-ptofit co >o ra Cs: °, to Witness WhereoL I have subscribed my•narne• tMs•document and affixed the seal .. ,', ', •• •, . of the Corporation on c3~2-a~~ Idatel. •. •.' Attest by One Other Officer Secretary lPa9e 1 0/ 21 F p 1985. 199) Bankers Systems, Inc., SL Cloud MN form CA-1 5(12003 f ' Central Bank 17267 Yale St NW Elk River MN 55330 CORPORATE AUTHORIZATION RESOLUTION By: Elk River Municipal Utilities 13069 Orono Parkway P 0 Box 430 Elk Riverr MN 55330 Referred to in this document as "Financial Institution" Referred to in this document as "Corporation" I, TROY J ADAMS ,certify that I am Secretary (clerk) of the above named corporation organized under the laws of Minnesota ,Federal Employer LD. Number 41-6005125 ,engaged in business under the trade name of ELK RIVER MUNICIPAL UTILITES ,and that the resolutions on this document are a correct copy of the resolutions adopted at a meeting of the Board of Directors of the Corporation duly and properly called and held on 3-8-2011 Idatel. These resolutions appear in the minutes of this meeting and have not been rescinded or modified. AGENTS Any Agent listed below, subject [o any written limitations, is authorized to exercise the powers granted as indicated below: Name and Title or Position Signature Facsimile Signature (if used) A. JOHN J DIETZ COMMISSIONER X B. DARYL THOMPSON COMMISSIONER X C, ALLAN E NADEAU COMMISSIONER X X p, THERESA J SLOMINSKI FINANCE DIRECTOR X X X X POWERS GRANTED (Attach one or more Agents to each power by placing the letter corresponding to their name in the area before each power. Following each power indicate the number of Agent signatures required to exercise the power.) Indicate A, B, C, Description of Power Indicate number of D, E, and/or F signatures required /C 111 Exercise all of the powers listed in this resolution. 121 Open any deposit or share accountlsl in the name of [he Corporation. ~i+~1~/~' 131 Endorse checks and orders for the payment of money or otherwise withdraw or transfer funds on deposit with this Financial Institution. 141 Borrow money on behalf and in the name of the Corporation, sign, execute and deliver promissory notes or other evidences of indebtedness. 151 Endorse, assign, transfer, mortgage or pledge bills receivable, warehouse receipts, bills of lading, stocks, bonds, real estate or other property now owned or hereafter awned or acquired by the Corporation as security for Burns borrowed, and to discount the same, unconditionally guarantee payment of all bills received, negotiated or discounted and to waive demand, presentment, protest, notice of protest and notice of non-payment. 161 Enter into a written lease far the purpose of renting, maintaining, accessing and terminating a Safe Deposit Box in this Financial Institution. 171 Other LIMITATIONS ON POWERS The following are the Corporation's express limitations on the powers granted under this resolution. EFFECT ON PREVIOUS RESOLUTIONS This resolution supersedes resolution dated If not completed, all resolutions remain in effect. CERTIFICATION OF AUTHORITY I further certify that the Board of Directors of the Corporation has, and at the time of adoption of this resolution had, full power and lawful authority to 3dopi the resolutions on page 2 and to confer the powers granted above to the persons named who have full power and lawful authority to exercise same. (Apply seal below where appropriate.) If checked, the Corporation is anon-profit corporation. In Witness Whereof, I have subscribed my name to this document and affixed the seal of the Corporation on ~~/ J Oil _ Idatel. Attest by One Other Officer Secretary /page 1 of 2) ~~° ©1985, 199] Bankers Systems, Inc., St Cloud, MN Form CA-1 5l1 /2003 CORPORATE RESOLUTION CERTIFICATION E E~ ~ 1 AaouNTnnE: EIk Riverl Municip/~al Ut1ilitiQes / '$l ~.~/~~ p ,X/'7 r AC(DIINi NUMBER /2...I~1~ ../~OI / ~~`PJl /'~ ~ ~7 C~l~ ~/I~Q..~/' 1' I HEREBY CERTIFY that a meeting, duly called, of the Board of Directors of the Elk River Municipal Utilities a corporaxion, which said meeting a quorum was pcesent and acting throughout, the following preunble and resolution was adopted and ever since has been and now is in fiill force and effect. WHEREAS thi_c corporaxion is duly authorized :rod permitted by its Charter and Bylaws ro: (1) Engage in cash and margin transactions in any and all forms of secm~ities includurg, but not limited to, stocks, options, stock options, stuck index options, foreign currenty options and debt imsrnuncnt options, bond debentures, notes, scrips, participation certificates, rights ro subsaibe, warrants, certificates of deposit, motxgages, chooses in action, evidences of indebtedness, commercial paper certificates or indebtedness, and wrtificates of interest of any and every kind and nature whatsoever, secured or unsecured, whether represented by trust, pazticipating aml/or other certificates nr oxherwise, and margin transactions, including short sales. (2) Receive on behalf of the Corporation or deliver to the Corporation or third parties mouies, stocks, bonds, and other securities. To sell, assign, and endorse for transfer, certificates represemxing stocks, bonds, or other securities now registered or hereafter registered i.n the name of the Corporation. (3) Establish and maintain an asset management account with debit card, check writing, and margin privileges, from which accomrt fiords are directly spenx, the responsibility for which is entirely that of the Corporation, such that checkwriting and debit card privileges will be limited to the following persons designated by the Corporation: Joel-~ ~i 2,fZ _~ ~Gt~ovv~~S-o ~ NOW THEREFORE BE IT RESOLVED that this Corporation open an account or accounts in its name with. [ /tom U~ ~~~~k ~t ~'~ and that ,President, ,Vice President, "T3^HS9'4F. ____ _ T--~-~ ---, or _~~5'larn+.YL~~ ur any one of them or their successors' in office, may, nn behalf of this Corporation or any one of them acting individually, be and they are hereby authorized to (1) give orders in the said account or accounxs for the purchase, sale, or other disposition of stocks, bonds, and other securities, (2) deliver to urd receive from Pershing LLC (Pershing), on behalf of this Corporation monies, stocks, bonds, acrd other securities, (3) sign acknowledgements of the corcecmess of all statements of accounts, and (4) make, execute, and deliver under the corporate seal any and all written endorsements and documents necessary or proper m effectuate the authority hereby conferred; the within authoriution to each of said officers to remain in lull force and effect until written notice of the revocation thereof shall have been received by ~, ~ ~ X I fURTHFR (ER11FY that the following are the signatures of the officers (or others) authorised 6y the foregoing resolrtion to act for S~~ this Corporation c5( S~ IId WITNESS WHFREOi, I have hereunto set my hand and affixed the seal of saidCo~rp~ora/tion this~/~ (AFFl%CORPORAiE SEAL HEREI day of ~(~ ALL-~"L~ SECRETARY: `~ 5 E` << ~ )~d~ e s(~ f NOTE: Thrs certificate must be executed by an officer Daher than one of those authorized m act. ~ ~~~ `~ CORP fin. 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