6.1c ERMUSR 06-14-2022UTILITIES COMMISSION MEETING
TO:FROM:
ERMU Commission Melissa Karpinski –FinanceManager
MEETING DATE: AGENDA ITEM NUMBER:
June 14, 2022 6.1c
SUBJECT:
Staff Update
ACTION REQUESTED:
None
DISCUSSION:
The accounting department is continuing to work on record retentionas time permits.
The annual MISO (Midwest Independent System Operator) reporting has been
completed for 2020. These reports are used in determining the transmission rebateswe
will receive being a part owner of the transmission systems with Midwest Municipal
Transmission Group.
2021 Minnesota Department of Revenue Sales and Use Tax Refund Request (ST11) has
been filed in the amount of $20,565.01.
We received our property and liability insurance renewal for July 1, 2022 to July 1, 2023.
The total premium increase is approximately 18% over the prior year; $164,345
compared to $139,308. Water/Sewer and Electric Utility type occupancies saw large rate
increases, which is what makes up most of the property schedule. A breakdown of the
premium increase is below.
Premium
Coverage 2022 2021 % Change
Property$48,709 $32,478 49.98%
Mobile Property $ 1,447 $ 1,019 42.00%
Municipal Liability $ 29,224 $ 27,688 5.55%
Auto Liability$ 3,589 $ 3,718 -3.47%
Auto Physical Damage $ 3,423 $ 3,447 -0.70%
Bond $ 596 $ 593 0.51%
Equipment Breakdown$ 71,460 $ 70,365 1.56%
First Party Cyber $ 5,897 $ --
Total Premium$ 164,345 $139,308 17.97%
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