2.3 ERMUSR 12-12-2017 Elk River
Municipal Utilities UTILITIES COMMISSION MEETING
TO: FROM:
ERMU Commission Troy Adams, P.E. —General Manager
MEETING DATE: AGENDA ITEM NUMBER:
December 12, 2017 2.3
SUBJECT:
2018 Official Depository
ACTION REQUESTED:
Designate First National Bank of Elk River as the official depository for 2018.
BACKGROUND/DISCUSSION:
Minnesota Statutes Section 118A.02 sets forth the procedures for the deposit of public funds and
it is necessary for the Utilities Commission to annually designate a bank (or banks) as the official
depository for utility funds.
Staff recommends designating First National Bank of Elk River as the utility's official
depository for the funds of Elk River Municipal Utilities for 2018.
FINANCIAL IMPACT:
N/A
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