WEBVTT 00:00:00.000 --> 00:00:05.000 - Okay, it is nine o'clock and we do have a quorum. 00:00:05.000 --> 00:00:08.060 So it's called to order the public utilities board 00:00:08.060 --> 00:00:12.380 for the city of Denton on March 11th, 2024. 00:00:12.380 --> 00:00:15.100 Did anybody register to speak? 00:00:15.100 --> 00:00:16.080 No, all right. 00:00:16.080 --> 00:00:19.260 Then we'll go right into the consent agenda. 00:00:19.260 --> 00:00:21.720 Does anybody wish to pull an item? 00:00:21.720 --> 00:00:24.700 I know Mr. Chief is pulling item E. 00:00:29.900 --> 00:00:31.220 - Not me. 00:00:31.220 --> 00:00:32.500 - Okay, so just item E. 00:00:32.500 --> 00:00:36.680 So then do we have a motion to approve items A through D? 00:00:36.680 --> 00:00:40.400 - So moved. 00:00:40.400 --> 00:00:41.900 - Okay, and a second? 00:00:41.900 --> 00:00:43.420 - Second. 00:00:43.420 --> 00:00:44.540 - All in favor say aye. 00:00:44.540 --> 00:00:45.980 - Aye. 00:00:45.980 --> 00:00:48.140 - Motion carries, item E. 00:00:48.140 --> 00:00:56.300 - Hello, I'm Katie Koch. 00:00:56.300 --> 00:00:58.020 I'm the project manager for the project 00:00:58.020 --> 00:01:00.340 that this is pertaining to. 00:01:00.340 --> 00:01:03.300 Yeah. 00:01:03.300 --> 00:01:08.300 - There is no presentation on it. 00:01:08.300 --> 00:01:12.980 There's no presentation on this item that you put together? 00:01:12.980 --> 00:01:15.180 - No, this is just for the approval 00:01:15.180 --> 00:01:17.140 to submit a full application. 00:01:17.140 --> 00:01:20.900 We'll have to go back through PUB for another resolution 00:01:20.900 --> 00:01:24.980 and a draft bond ordinance when we get approval. 00:01:24.980 --> 00:01:26.880 - Okay. 00:01:28.340 --> 00:01:30.220 - Well, I don't want to go into any details 00:01:30.220 --> 00:01:34.220 because there are no details for me to go into. 00:01:34.220 --> 00:01:37.140 - I can-- 00:01:37.140 --> 00:01:39.740 - I think it's just asking for approval 00:01:39.740 --> 00:01:41.300 to submit the application. 00:01:41.300 --> 00:01:44.360 - Yeah, I can provide high level if you'd like. 00:01:44.360 --> 00:01:47.360 - $195 million worth of no detail. 00:01:47.360 --> 00:01:51.540 - That is the current OPCC for the whole expansion project 00:01:51.540 --> 00:01:54.180 including design, CMR, which we are seeking 00:01:54.180 --> 00:01:58.220 to ask approval for, and the full construction cost. 00:01:58.220 --> 00:02:01.020 And for the full five year project, 00:02:01.020 --> 00:02:02.460 they escalated the numbers. 00:02:02.460 --> 00:02:07.820 - There are other disciplines in this matter as well. 00:02:07.820 --> 00:02:10.060 - Well, just Stephen Gay, director of water utilities. 00:02:10.060 --> 00:02:14.640 So high level is this is, we have to do like 00:02:14.640 --> 00:02:18.300 a pre-application, so just I guess declaring our intent 00:02:18.300 --> 00:02:20.640 to apply for the funds. 00:02:20.640 --> 00:02:24.060 This project is in our five year CIP. 00:02:24.060 --> 00:02:27.820 It's been planned for quite some time. 00:02:27.820 --> 00:02:30.580 This is the process, the process we're going through 00:02:30.580 --> 00:02:32.380 right now is we just have to demonstrate 00:02:32.380 --> 00:02:36.620 that we've shared and we have PUB approval to apply. 00:02:36.620 --> 00:02:41.380 Once we, our application, our pre-application is accepted, 00:02:41.380 --> 00:02:44.260 we'll be invited back for an actual application, 00:02:44.260 --> 00:02:47.420 and then that'll have all of the information highlighted. 00:02:47.420 --> 00:02:49.340 You know, we'll dig down into the details, 00:02:49.340 --> 00:02:51.500 do a nice little presentation for you 00:02:51.500 --> 00:02:54.040 about the development board, the loan, 00:02:54.040 --> 00:02:56.980 and the project, so this is essentially our, 00:02:56.980 --> 00:03:01.680 like our letter of intent, if that makes sense. 00:03:01.680 --> 00:03:03.700 - I have a question. 00:03:03.700 --> 00:03:08.180 Does this include the entire cost of the project, 00:03:08.180 --> 00:03:09.900 or is this only a portion? 00:03:09.900 --> 00:03:11.780 - This is the entire cost of the project, 00:03:11.780 --> 00:03:12.620 including design. - Okay, so we're gonna 00:03:12.620 --> 00:03:15.940 get a loan for the entire project through these means. 00:03:15.940 --> 00:03:16.780 - Yes. - Yes. 00:03:16.780 --> 00:03:18.260 - Thank you. 00:03:18.260 --> 00:03:19.100 - Go ahead, Devin. 00:03:19.100 --> 00:03:21.980 - Is the fixed rate interest rate known, 00:03:21.980 --> 00:03:23.900 or will it be known? 00:03:23.900 --> 00:03:26.220 - We'll know when they... 00:03:26.220 --> 00:03:27.460 - Oh, I'm sorry. - I'm sorry, 00:03:27.460 --> 00:03:29.340 we're agreeing here. - So the Texas Water, 00:03:29.340 --> 00:03:31.540 sorry, Jessica Williams, CFO for the city. 00:03:31.540 --> 00:03:34.780 So the Texas Water Development Board provides loan funding 00:03:34.780 --> 00:03:38.820 for particular entities that are approved 00:03:38.820 --> 00:03:40.340 to move forward with water projects, 00:03:40.340 --> 00:03:42.500 so it's a combination of state and federal funding 00:03:42.500 --> 00:03:45.620 that allows us to go forward to apply for the loans. 00:03:45.620 --> 00:03:47.940 Texas Water Development Board then issues 00:03:47.940 --> 00:03:50.860 the actual debt to the market, 00:03:50.860 --> 00:03:53.780 and then we are responsible for the repayment of that debt. 00:03:53.780 --> 00:03:56.100 Right now, they're running about two basis points 00:03:56.100 --> 00:03:59.620 under the market, so for us, this would be a benefit 00:03:59.620 --> 00:04:02.540 in that we can borrow this money with less expense 00:04:02.540 --> 00:04:05.300 to the city through the Texas Water Development Board 00:04:05.300 --> 00:04:07.540 than we can sell it on the market right now. 00:04:07.540 --> 00:04:08.380 - Yeah. 00:04:08.380 --> 00:04:11.220 There's just nothing for me to explain to my neighbor 00:04:11.220 --> 00:04:12.980 when I said, "Oh, what was this shit you voted for?" 00:04:12.980 --> 00:04:14.220 Excuse me. 00:04:14.220 --> 00:04:17.340 What was the stuff you voted for $195 million to approve on? 00:04:17.340 --> 00:04:19.980 I don't know, they're just applying for something. 00:04:19.980 --> 00:04:22.820 I mean, I know what it reads here, I can see that, 00:04:22.820 --> 00:04:26.900 but anyway, we gotta have expansion. 00:04:26.900 --> 00:04:27.740 - Yes. 00:04:27.740 --> 00:04:32.380 - Is there a ceiling level for that fixed rate? 00:04:32.380 --> 00:04:37.180 - The rate will vary based on when we actually 00:04:37.180 --> 00:04:39.460 get to the market, but what we would be looking at 00:04:39.460 --> 00:04:41.940 is closing in December. 00:04:41.940 --> 00:04:43.420 There is no ceiling on the rate, 00:04:43.420 --> 00:04:44.780 but the Texas Water Development Board 00:04:44.780 --> 00:04:46.660 does run competitively to the market 00:04:46.660 --> 00:04:48.300 and generally under market. 00:04:48.300 --> 00:04:50.940 - So the rates the rate, we take it no matter what? 00:04:50.940 --> 00:04:51.780 - Correct. 00:04:51.780 --> 00:04:54.140 - And it's best to go this route 00:04:54.140 --> 00:04:56.700 if the rate gets too high versus out into the public, 00:04:56.700 --> 00:04:57.540 is that right? 00:04:57.540 --> 00:04:59.380 - Yes, at this time it is. 00:04:59.380 --> 00:05:02.140 When we were looking at rates back during COVID 00:05:02.140 --> 00:05:03.660 where we could go out for 2%, 00:05:03.660 --> 00:05:04.940 it didn't make sense to go through 00:05:04.940 --> 00:05:06.220 Texas Water Development Board 00:05:06.220 --> 00:05:08.660 because we could go to the market for less. 00:05:08.660 --> 00:05:10.860 However, with rates where they are right now, 00:05:10.860 --> 00:05:13.660 we can't beat the Texas Water Development Board. 00:05:13.660 --> 00:05:17.580 - And as time proceeds, we have the flexibility though 00:05:17.580 --> 00:05:19.820 to be able to pivot at any time 00:05:19.820 --> 00:05:22.660 in case all hell breaks loose, pardon the pun. 00:05:22.660 --> 00:05:25.060 - We could call the debt when it becomes callable. 00:05:25.060 --> 00:05:27.100 So at 10 years, we could call the debt 00:05:27.100 --> 00:05:29.300 if we are in a place where we could refund it 00:05:29.300 --> 00:05:31.460 for say a 2% rate again. 00:05:31.460 --> 00:05:33.620 Although, I mean, I hope we see those days again, 00:05:33.620 --> 00:05:35.020 but I highly doubt it. 00:05:35.020 --> 00:05:37.260 - And I'm referring to before we even pull the trigger 00:05:37.260 --> 00:05:39.140 if you see the rates take off. 00:05:39.140 --> 00:05:42.020 - If we make a decision prior to December, 00:05:42.020 --> 00:05:43.500 we can pull out of the deal. 00:05:43.500 --> 00:05:46.460 There is a deadline though that will pass 00:05:46.460 --> 00:05:48.340 at which point we can't pull back out of the deal. 00:05:48.340 --> 00:05:51.980 - If rates go crazy as we hope it will not. 00:05:51.980 --> 00:05:53.300 - Correct. 00:05:53.300 --> 00:05:54.820 - I just wanted to know what the precaution 00:05:54.820 --> 00:05:56.540 and what safeguards we have at that point. 00:05:56.540 --> 00:05:59.700 'Cause is this project such that if the rates 00:05:59.700 --> 00:06:04.700 just go out of the way, we just put it on hold? 00:06:04.700 --> 00:06:07.060 - Yes, we could, absolutely. 00:06:07.060 --> 00:06:09.180 We could turn down the funding if we chose to 00:06:09.180 --> 00:06:12.340 prior to the Texas Water Development sale of the debt. 00:06:12.340 --> 00:06:14.420 Once they have sold the debt, we are committed. 00:06:14.420 --> 00:06:17.900 - I imagine it'd be a rather extreme rate 00:06:17.900 --> 00:06:19.180 because this is rather important. 00:06:19.180 --> 00:06:20.220 I understand that, yeah. 00:06:20.220 --> 00:06:21.060 Thank you. 00:06:21.060 --> 00:06:23.460 - Other questions? 00:06:23.460 --> 00:06:24.300 - Yeah, I-- 00:06:24.300 --> 00:06:26.820 - You're still on, you're green. 00:06:26.820 --> 00:06:27.660 - I am. 00:06:27.660 --> 00:06:33.420 Yeah, well hers was echoing so I was being careful, 00:06:33.420 --> 00:06:35.340 but yeah. 00:06:35.340 --> 00:06:38.740 I'm just gonna abstain for lack of information, 00:06:38.740 --> 00:06:40.500 not that it matters, but thank you. 00:06:40.500 --> 00:06:44.900 - All right, do we have a motion to approve item E? 00:06:47.300 --> 00:06:48.660 Mr. Rybak moves. 00:06:48.660 --> 00:06:49.620 Do we have second? 00:06:49.620 --> 00:06:52.660 Mr. Taylor, all in favor say aye. 00:06:52.660 --> 00:06:53.500 - Aye. 00:06:53.500 --> 00:06:54.340 - Opposed? 00:06:54.340 --> 00:06:55.180 - Abstain. 00:06:55.180 --> 00:06:56.540 - Abstain, okay. 00:06:56.540 --> 00:06:57.380 Thank you. 00:06:57.380 --> 00:06:58.460 - Thank you. 00:06:58.460 --> 00:07:00.300 - Next item is approval of the minutes. 00:07:00.300 --> 00:07:04.260 Were there any changes to the February 26th, 2024 minutes? 00:07:04.260 --> 00:07:07.500 Okay, do we have a motion to approve? 00:07:07.500 --> 00:07:10.780 Mr. Taylor motions, second? 00:07:10.780 --> 00:07:12.620 - Sure. 00:07:12.620 --> 00:07:14.700 - Mr. Rybak, all in favor? 00:07:14.700 --> 00:07:15.700 - Aye. 00:07:15.700 --> 00:07:16.540 - All right. 00:07:17.380 --> 00:07:20.380 Consider recommending the adoption of an ordinance 00:07:20.380 --> 00:07:22.340 for the city of Denton, Texas, 00:07:22.340 --> 00:07:25.100 establishing the schedule of rates for electric service, 00:07:25.100 --> 00:07:26.260 providing for repealer, 00:07:26.260 --> 00:07:28.740 and providing for severability clause, 00:07:28.740 --> 00:07:30.660 and providing for an effective date. 00:07:30.660 --> 00:07:32.580 That's a motion. 00:07:32.580 --> 00:07:34.620 - Good morning, Madam Chair, PUB members. 00:07:34.620 --> 00:07:37.140 I'm Bill Shepherd with Dent Municipal Electric, 00:07:37.140 --> 00:07:38.940 and I'm here today to talk to you a little bit 00:07:38.940 --> 00:07:41.700 about electric rate ordinance adjustment 00:07:41.700 --> 00:07:45.380 that we mentioned last time, the PUB meeting. 00:07:45.380 --> 00:07:46.900 Unfortunately, you all didn't have quorum, 00:07:46.900 --> 00:07:49.740 but Mr. Puente did submit information 00:07:49.740 --> 00:07:53.620 talking about our midyear budget adjustments, 00:07:53.620 --> 00:07:57.020 as well as the updated pro forma. 00:07:57.020 --> 00:07:59.380 So I'm gonna go one step beyond that. 00:07:59.380 --> 00:08:01.660 Part of the elements of that discussion 00:08:01.660 --> 00:08:05.740 were to request adjustment to the energy cost adjustment, 00:08:05.740 --> 00:08:10.420 the ECA, as well as the transmission cost recovery factor 00:08:10.420 --> 00:08:13.940 that has been suspended since October of 2017. 00:08:16.180 --> 00:08:17.580 So we'll jump right in it. 00:08:17.580 --> 00:08:21.780 So what we're requesting is to make an adjustment 00:08:21.780 --> 00:08:26.780 to the ECA starting effective April 1st, so next month, 00:08:26.780 --> 00:08:31.980 and that adjustment would bring our ECA from .0341 00:08:31.980 --> 00:08:36.860 up to .0447 per kilowatt hour. 00:08:36.860 --> 00:08:40.500 The impact on a residential bill 00:08:40.500 --> 00:08:44.180 is about $10.60 a month for that adjustment. 00:08:45.460 --> 00:08:47.940 The other adjustment that we're requesting is that, 00:08:47.940 --> 00:08:49.540 or reinstatement, I should say, 00:08:49.540 --> 00:08:52.100 is the transmission cost recovery factor. 00:08:52.100 --> 00:08:54.660 This was a portion of the bill that has been suspended 00:08:54.660 --> 00:08:58.420 since October of 2017, and it was built to recover 00:08:58.420 --> 00:09:01.540 our transmission costs that we pay out to ERCOT. 00:09:01.540 --> 00:09:05.020 So reinstatement of that, it'll go from zero, 00:09:05.020 --> 00:09:10.020 which it is right now, up to .0135 dollars per kilowatt hour, 00:09:12.260 --> 00:09:17.020 or roughly a $13.50 per month impact to the residential bill. 00:09:17.020 --> 00:09:22.740 So both of those are what we're proposing 00:09:22.740 --> 00:09:26.900 for going into effect April 1st. 00:09:26.900 --> 00:09:28.420 - Excuse me, before we move on? 00:09:28.420 --> 00:09:29.260 - Yes, sir. 00:09:29.260 --> 00:09:31.780 - So the total of that was like 23.50? 00:09:31.780 --> 00:09:32.900 - 24.10. 00:09:32.900 --> 00:09:37.500 - 24.10 per month per client, so that's about $300 a year 00:09:37.500 --> 00:09:39.540 to the average residential user. 00:09:40.700 --> 00:09:42.860 - Okay, and since I wasn't here for the meeting 00:09:42.860 --> 00:09:47.740 without a quorum, can you tell us a little bit 00:09:47.740 --> 00:09:51.380 about the reason for the adjustments, the background? 00:09:51.380 --> 00:09:52.460 - Yeah, sure. 00:09:52.460 --> 00:09:55.980 So part of that reasoning rationale is the fact 00:09:55.980 --> 00:09:59.020 that we have not had a rate increase in almost seven years, 00:09:59.020 --> 00:10:01.100 and everything around us has been going up. 00:10:01.100 --> 00:10:05.500 So we have made every change that we can 00:10:05.500 --> 00:10:08.220 and squeezed out every efficiencies we can 00:10:08.220 --> 00:10:11.300 within our operations, and at this point, 00:10:11.300 --> 00:10:14.900 with the cost of fuel continuing to go up, 00:10:14.900 --> 00:10:19.900 we had a large unexpected cost of fuel last year 00:10:19.900 --> 00:10:23.180 that part of that presentation from last time 00:10:23.180 --> 00:10:26.300 discussed a $31 million bond issuance 00:10:26.300 --> 00:10:30.420 to finance that amount of the overage for the fuel. 00:10:30.420 --> 00:10:34.620 But really it's just trying to correct our rates 00:10:34.620 --> 00:10:37.780 to more reflect what we're paying in the market. 00:10:37.780 --> 00:10:39.420 - Okay, thank you. 00:10:39.420 --> 00:10:41.100 - Yes, go ahead, Mr. Randolph. 00:10:41.100 --> 00:10:43.140 - Could you go back to that one? 00:10:43.140 --> 00:10:43.980 - Yes, sir. 00:10:43.980 --> 00:10:49.380 - Thank you. 00:10:49.380 --> 00:10:52.580 So the increases average per resident, 00:10:52.580 --> 00:10:57.580 so is it possible to tell me what is the, 00:10:57.580 --> 00:11:00.420 not the impact, but what would be the average cost 00:11:00.420 --> 00:11:02.580 per on your residence? 00:11:02.580 --> 00:11:03.460 Is it a monthly fee? 00:11:03.460 --> 00:11:06.340 Are we talking that in Denton, you've got an average 00:11:06.340 --> 00:11:10.020 of let's say $200 a month per resident on an average, 00:11:10.020 --> 00:11:12.380 and then we add the $10 to that, is that? 00:11:12.380 --> 00:11:15.700 - Our average for the residential right now is $106. 00:11:15.700 --> 00:11:16.540 - Okay. 00:11:16.540 --> 00:11:18.420 - That's the total bill for electric, 00:11:18.420 --> 00:11:20.980 so it'll be 2410 on top of that. 00:11:20.980 --> 00:11:23.180 - Oh, thank you, that's helpful, appreciate it. 00:11:23.180 --> 00:11:34.420 All right, so this is just a blow up of the performance. 00:11:34.420 --> 00:11:35.980 It might be a little hard to see, 00:11:35.980 --> 00:11:38.060 or maybe you can see better from there. 00:11:38.060 --> 00:11:43.060 So the oval that I've circled that purchase power 00:11:43.060 --> 00:11:47.380 on the second, the red oval, $189 million, 00:11:47.380 --> 00:11:49.620 that's the portion that we're trying to recover. 00:11:49.620 --> 00:11:52.180 Now, not all of that is recovered straight 00:11:52.180 --> 00:11:55.660 through our customers, part of that is our core expenses 00:11:55.660 --> 00:11:59.980 and core recovers all of that on its own. 00:11:59.980 --> 00:12:02.460 So that's the component that we're trying to recover, 00:12:02.460 --> 00:12:04.620 and another thing I failed to mention too 00:12:04.620 --> 00:12:09.620 is this mid-year correction is intended to correct 00:12:09.620 --> 00:12:13.220 for expenses for the last part of the year, 00:12:13.220 --> 00:12:16.620 not the entire year, so we're not collecting 00:12:16.620 --> 00:12:20.660 six months of revenues to account for 12, 00:12:20.660 --> 00:12:23.820 we're just gonna try to true up for the last six months. 00:12:23.820 --> 00:12:26.860 So that equates to about $70 million 00:12:26.860 --> 00:12:29.940 that we'd be collecting for ECA, 00:12:29.940 --> 00:12:34.940 and then the square below the $189, the $26,881 million, 00:12:34.940 --> 00:12:37.140 that is what we're projecting to pay to ERCOT 00:12:37.140 --> 00:12:39.860 for transmission costs this year. 00:12:39.860 --> 00:12:43.260 So half of that is the $13,440 that we're proposing 00:12:43.260 --> 00:12:48.260 to collect with the .0135, yes sir. 00:12:48.260 --> 00:12:50.340 - But these adjustments will continue 00:12:50.340 --> 00:12:51.860 into next year, I'm presuming. 00:12:51.860 --> 00:12:55.620 - Yes sir, yeah, so next year for the TCRF, 00:12:55.620 --> 00:12:58.660 we'll be recovering that full amount for the year, 00:12:58.660 --> 00:13:01.660 which is projected to be the 27,284, 00:13:01.660 --> 00:13:03.780 right next to it to the right, 00:13:03.780 --> 00:13:08.780 and then we'll propose an ECA that we'll try to collect 00:13:08.780 --> 00:13:10.780 for the entire ECA throughout the year too, 00:13:10.780 --> 00:13:13.260 but on the next slide, we'll talk a little bit more 00:13:13.260 --> 00:13:15.540 about that strategy and how we levelize 00:13:15.540 --> 00:13:17.140 that through the year. 00:13:17.140 --> 00:13:19.340 - Question, Bill. - Yes sir. 00:13:19.340 --> 00:13:21.740 - Well, I don't understand, here's a personnel. 00:13:21.740 --> 00:13:27.820 The projected is, forgive my eyesight here, 00:13:28.860 --> 00:13:32.220 is 25, is that right, 25873? 00:13:32.220 --> 00:13:33.060 - The one right here? 00:13:33.060 --> 00:13:36.140 - The projected, well, that is the mid-year, 00:13:36.140 --> 00:13:38.780 that's your now new estimate for personnel, 00:13:38.780 --> 00:13:39.620 is that correct? 00:13:39.620 --> 00:13:44.620 - Yes, I don't see the 24, there's 26090 for the personnel. 00:13:44.620 --> 00:13:45.900 - That's because I can't see it. 00:13:45.900 --> 00:13:46.740 - Yes sir, I'm sorry. 00:13:46.740 --> 00:13:48.460 - That's why I'm asking. 00:13:48.460 --> 00:13:50.980 - Oh, there we go, right there, right? 00:13:50.980 --> 00:13:51.980 - Yeah. - Yeah. 00:13:51.980 --> 00:13:56.980 - What's the fluctuation there between actual and projected? 00:13:59.660 --> 00:14:01.140 - Actual, 2023. 00:14:01.140 --> 00:14:07.940 - So, yeah, so that was 2023 actuals, 00:14:07.940 --> 00:14:10.020 and then we have the projected for 2024. 00:14:10.020 --> 00:14:13.900 If you recall, we had a pay plan study that was done 00:14:13.900 --> 00:14:17.180 and we adjusted our salaries across the city, 00:14:17.180 --> 00:14:18.580 and that reflects part of that. 00:14:18.580 --> 00:14:22.500 - So that's like almost, is that almost $2 million, 00:14:22.500 --> 00:14:23.340 is that correct? 00:14:23.340 --> 00:14:25.420 - Yes sir, and then there's some other. 00:14:25.420 --> 00:14:28.700 - Yeah, for '23, there's also salary savings, 00:14:28.700 --> 00:14:31.100 so we don't usually spend all our budget 00:14:31.100 --> 00:14:32.460 when it comes to personnel. 00:14:32.460 --> 00:14:34.500 There's a turnover and what have you, so. 00:14:34.500 --> 00:14:39.460 - It was a pretty big fluctuation from what I can tell 00:14:39.460 --> 00:14:44.460 with my eyes from here, but okay, that's it, thanks. 00:14:44.460 --> 00:14:45.740 - Good. 00:14:45.740 --> 00:14:49.780 All right, so I wanna walk you a little bit 00:14:49.780 --> 00:14:52.100 through the process here that we're proposing. 00:14:54.220 --> 00:14:57.540 We are proposing to have the ordinance delegate 00:14:57.540 --> 00:15:00.860 that authority for adjusting the ECA and the TCRF 00:15:00.860 --> 00:15:01.780 to this board. 00:15:01.780 --> 00:15:06.660 Part of that would be quarterly balancing of the ECA 00:15:06.660 --> 00:15:10.540 within plus or minus $5 million, so we would come to you 00:15:10.540 --> 00:15:14.540 on a regular basis, preferably the month before the quarter, 00:15:14.540 --> 00:15:18.260 and ask you for any kind of adjustments that are necessary. 00:15:18.260 --> 00:15:20.780 Ideally, we'll try to keep those to a minimum 00:15:20.780 --> 00:15:25.780 throughout the year, but it will give us that option 00:15:25.780 --> 00:15:28.340 to come to you with those adjustment requests. 00:15:28.340 --> 00:15:33.380 When we do make an adjustment request, 00:15:33.380 --> 00:15:36.140 it'll be designed to go into effect the following month, 00:15:36.140 --> 00:15:38.820 which will ideally be that first month of the quarter, 00:15:38.820 --> 00:15:40.860 and the city council will have the opportunity 00:15:40.860 --> 00:15:43.500 to pull that item and have a discussion if necessary. 00:15:49.820 --> 00:15:51.700 I think we already talked about the quarter. 00:15:51.700 --> 00:15:55.060 Yeah, so moving forward, we're gonna come to you 00:15:55.060 --> 00:15:57.380 on a quarterly basis, and I'll let you know 00:15:57.380 --> 00:16:00.420 how we're doing on this fund, and make sure we stay 00:16:00.420 --> 00:16:02.420 within that plus or minus $5 million. 00:16:02.420 --> 00:16:04.620 - Okay. 00:16:04.620 --> 00:16:10.900 - Thank you for the detail on that, appreciate it. 00:16:10.900 --> 00:16:12.580 - Yes, sir. - Questions? 00:16:12.580 --> 00:16:13.820 Go ahead. 00:16:13.820 --> 00:16:17.700 - First, I just wanna say the floating ECA, 00:16:17.700 --> 00:16:19.980 I think makes a lot of sense. 00:16:19.980 --> 00:16:21.940 Denton forever has had for, I don't know, 00:16:21.940 --> 00:16:24.340 seven, eight years or something, has had this flat rate, 00:16:24.340 --> 00:16:26.180 and even before that, I think they had a flat rate 00:16:26.180 --> 00:16:29.820 for another five or six years previously, 00:16:29.820 --> 00:16:34.820 but with volatility and electricity cost, 00:16:34.820 --> 00:16:36.980 it probably makes more sense to have this float. 00:16:36.980 --> 00:16:39.180 Instead of a single shock where we've been flat 00:16:39.180 --> 00:16:42.500 for six years, and we have a 15 or 20% jump 00:16:42.500 --> 00:16:46.620 to move up and down every quarter, 00:16:46.620 --> 00:16:50.300 I think is a pretty reasonable, a better way to manage that. 00:16:50.300 --> 00:16:55.260 If we go back, going back one slide to the ordinance 00:16:55.260 --> 00:16:59.420 regarding the ECA, so if we're doing this 00:16:59.420 --> 00:17:03.620 before the calendar quarter, so May will approve 00:17:03.620 --> 00:17:08.620 for June through August, and then August will approve 00:17:08.620 --> 00:17:12.540 September through December, something like that. 00:17:12.540 --> 00:17:15.140 - Yeah, the quarters will be the October, 00:17:15.140 --> 00:17:18.020 November, December, January, February, March, 00:17:18.020 --> 00:17:21.100 April, May, June, July, August, September. 00:17:21.100 --> 00:17:24.180 - Okay, do we, yeah, like fiscal calendar. 00:17:24.180 --> 00:17:29.020 So the, will that include, it's working on balancing 00:17:29.020 --> 00:17:32.860 from the previous quarter, but I think we're all 00:17:32.860 --> 00:17:37.860 pretty familiar that Q3 calendar, Q4 fiscal 00:17:37.860 --> 00:17:43.820 is probably where 40 or 50% of the cost is going to be. 00:17:44.340 --> 00:17:46.740 - Right, so we'll use some forward-looking, too, 00:17:46.740 --> 00:17:50.100 for those projections, as well as when we do look back 00:17:50.100 --> 00:17:52.300 to see what we've collected, we're only gonna 00:17:52.300 --> 00:17:55.340 realistically have the first two months of that quarter 00:17:55.340 --> 00:17:57.940 we're looking back at, and then we're gonna project 00:17:57.940 --> 00:18:00.660 that third month of that quarter, along with our 00:18:00.660 --> 00:18:03.500 forward-looking projections to get that ECA. 00:18:03.500 --> 00:18:06.180 So we'll be tuning, it'll be a tuning process. 00:18:06.180 --> 00:18:09.020 We're all the time improving our models 00:18:09.020 --> 00:18:11.020 that we're gonna be looking at this for. 00:18:13.180 --> 00:18:14.980 - Yeah, I think Bill's right. 00:18:14.980 --> 00:18:19.980 So we're still looking through that ECA calculator, 00:18:19.980 --> 00:18:22.220 and so the next quarter when we come to you, 00:18:22.220 --> 00:18:24.300 we'll be happy to kind of walk you through that, 00:18:24.300 --> 00:18:26.700 hopefully not get a whole lot of minutiae, 00:18:26.700 --> 00:18:28.820 but we'll try to walk you through that 00:18:28.820 --> 00:18:29.740 and make sure that we set that. 00:18:29.740 --> 00:18:33.460 That may require some adjustments to the ordinance 00:18:33.460 --> 00:18:37.900 based on whatever forward-looking basis we wanna do. 00:18:37.900 --> 00:18:40.500 Currently, it's just in the following three months. 00:18:40.500 --> 00:18:42.300 We're considering maybe looking at six months, 00:18:42.300 --> 00:18:44.740 and that way we try to flatten that out over the year, 00:18:44.740 --> 00:18:46.780 maybe not have to do as many adjustments. 00:18:46.780 --> 00:18:49.260 But again, we'll be prepared to bring that to you 00:18:49.260 --> 00:18:50.740 in the next quarter where we're working 00:18:50.740 --> 00:18:52.580 through that process now. 00:18:52.580 --> 00:18:53.420 - Okay. 00:18:53.420 --> 00:18:57.180 Yes, like I said, I think this is a logical thing to do, 00:18:57.180 --> 00:19:00.860 and it's gonna be a change for all the citizens 00:19:00.860 --> 00:19:02.300 and residents and so forth, 00:19:02.300 --> 00:19:03.820 but I think it's the right thing to do. 00:19:03.820 --> 00:19:04.660 - It's an industry standard. 00:19:04.660 --> 00:19:09.060 - So we're looking at about a 20 to 25% rake height overnight. 00:19:09.060 --> 00:19:12.020 Is that, I mean, if I'm a payer of our electric 00:19:12.020 --> 00:19:13.220 in the city of Denton, 00:19:13.220 --> 00:19:15.980 I'm going to receive a bill that's 20 to 25% higher 00:19:15.980 --> 00:19:17.740 overnight with no notice. 00:19:17.740 --> 00:19:19.060 I'm just curious. 00:19:19.060 --> 00:19:21.460 - Well, we have, again, we've, 00:19:21.460 --> 00:19:23.740 we attempted to do a public meeting here with the PUB. 00:19:23.740 --> 00:19:25.060 We didn't have quorum. 00:19:25.060 --> 00:19:26.220 We did go in front of the council. 00:19:26.220 --> 00:19:28.740 We did do a press release on that. 00:19:28.740 --> 00:19:31.580 We're gonna continue to try to inform our council, 00:19:31.580 --> 00:19:33.100 our customers. 00:19:33.100 --> 00:19:35.220 The RECA Chronicle and others on social media 00:19:35.220 --> 00:19:39.020 have already kind of picked this up, and it's out there. 00:19:39.020 --> 00:19:41.660 I'm getting questions from customers about it. 00:19:41.660 --> 00:19:45.420 The reality is, is that our current customer rate, 00:19:45.420 --> 00:19:48.340 which is about 10.7 cents per kilowatt hour, 00:19:48.340 --> 00:19:51.780 compares very favorable to what's out in the open market. 00:19:51.780 --> 00:19:54.340 And so I think people out there understand that, 00:19:54.340 --> 00:19:55.340 and they know that, 00:19:55.340 --> 00:19:56.700 and they know that we haven't raised rates 00:19:56.700 --> 00:19:58.060 in over seven years. 00:19:58.060 --> 00:20:01.780 And so, you know, one of the things that we tried to do 00:20:01.780 --> 00:20:05.180 was to try to ease into this, if you will, 00:20:05.180 --> 00:20:07.140 by not trying to recover the whole year. 00:20:07.140 --> 00:20:09.500 So we're just looking at half year, 00:20:09.500 --> 00:20:12.020 that way we ease into it in the next year. 00:20:12.020 --> 00:20:15.100 We'll go ahead and start recovering 100% of that. 00:20:15.100 --> 00:20:20.100 So we certainly understand the impact to customers, 00:20:20.100 --> 00:20:22.100 but I think at the end of the day, 00:20:22.100 --> 00:20:24.740 we're trying to ensure that this fund 00:20:24.740 --> 00:20:27.700 is financially sound going forward. 00:20:27.700 --> 00:20:30.300 And unfortunately, this is where we are, 00:20:30.300 --> 00:20:31.220 and I think the alternative 00:20:31.220 --> 00:20:33.380 is just really not an alternative. 00:20:33.380 --> 00:20:35.100 And we'll continue to try to educate 00:20:35.100 --> 00:20:36.420 and inform our customers the best we can. 00:20:36.420 --> 00:20:37.260 - Yeah, I understand that. 00:20:37.260 --> 00:20:40.380 And that's, no one's more concerned 00:20:40.380 --> 00:20:42.180 about financial solvency than I am. 00:20:42.180 --> 00:20:43.820 What I'm concerned about is, 00:20:43.820 --> 00:20:46.340 we're increasing personnel costs by 15%. 00:20:46.340 --> 00:20:48.940 I guarantee you're gonna get a lot more calls 00:20:48.940 --> 00:20:51.900 than 15% of an increase in personnel for this. 00:20:51.900 --> 00:20:54.700 25% is dramatic, and it will happen. 00:20:54.700 --> 00:20:59.300 So are we prepared for an influx of maybe less than informed 00:20:59.300 --> 00:21:01.140 and less than happy customers? 00:21:01.140 --> 00:21:03.180 - Yeah, I think looking at that number, 00:21:03.180 --> 00:21:04.420 we could certainly kind of break that out 00:21:04.420 --> 00:21:07.620 and give you some more detail. 00:21:07.620 --> 00:21:08.700 I think it's important to understand 00:21:08.700 --> 00:21:11.300 is that in this particular fund, 00:21:11.300 --> 00:21:13.660 salaries, as much as I don't wanna minimize them, 00:21:13.660 --> 00:21:16.900 but salaries make up less than 10% of the year-old fund. 00:21:16.900 --> 00:21:20.340 And so the larger impact to this fund 00:21:20.340 --> 00:21:21.780 is our capital program. 00:21:21.780 --> 00:21:23.980 And that's what we're looking at now. 00:21:23.980 --> 00:21:26.820 As an example, part of this process, 00:21:26.820 --> 00:21:30.380 we pulled out the campus project that we had proposed. 00:21:30.380 --> 00:21:32.700 So we've taken $75 million, 00:21:32.700 --> 00:21:34.980 and we reduced it to $10 million 00:21:34.980 --> 00:21:37.060 to do land acquisition and design. 00:21:37.060 --> 00:21:39.180 We've also reduced our overall bond sale 00:21:39.180 --> 00:21:42.420 for the current year from 82 million down to 60 million. 00:21:42.420 --> 00:21:46.060 And we're now in the process, just completed the process 00:21:46.060 --> 00:21:47.580 of looking at our five-year CIP, 00:21:47.580 --> 00:21:49.340 and what project can we delay? 00:21:49.340 --> 00:21:51.540 What projects can we cash flow a little bit better? 00:21:51.540 --> 00:21:52.380 And so we're doing that. 00:21:52.380 --> 00:21:54.180 And so what you're gonna see when we come to you 00:21:54.180 --> 00:21:58.460 in the budget is gonna be a reduced capital program 00:21:58.460 --> 00:22:01.380 that'll have a positive impact on the fund 00:22:01.380 --> 00:22:03.580 that's much bigger than anything we're gonna do 00:22:03.580 --> 00:22:04.700 on the salary side. 00:22:04.700 --> 00:22:07.620 But again, I think what's important to look at 00:22:07.620 --> 00:22:10.060 is that the actuals versus the budget 00:22:10.060 --> 00:22:11.180 are two different things, right? 00:22:11.180 --> 00:22:13.740 And so we really need to give you a better comparison, 00:22:13.740 --> 00:22:15.660 and we're certainly happy to follow up with you 00:22:15.660 --> 00:22:17.660 with a memo on the details of that. 00:22:17.660 --> 00:22:18.480 - Thank you. 00:22:18.480 --> 00:22:21.580 - It's good, good. 00:22:21.580 --> 00:22:23.780 Sorry, I was just gonna say that was a good point 00:22:23.780 --> 00:22:25.660 to pull out of here, 00:22:25.660 --> 00:22:27.660 because it is gonna be something that people go, 00:22:27.660 --> 00:22:29.140 what are we doing here? 00:22:29.140 --> 00:22:31.140 And would that reflect, 00:22:31.140 --> 00:22:32.700 I mean, that personnel number I know 00:22:32.700 --> 00:22:35.060 is just gonna be a big deal. 00:22:35.060 --> 00:22:37.160 It's an obvious thing to look at, 00:22:37.160 --> 00:22:40.940 although it's a lower percentage of our rate. 00:22:40.940 --> 00:22:45.940 But I mean, are we taking less consulting work 00:22:45.940 --> 00:22:49.480 and putting it more in permanent personnel? 00:22:49.480 --> 00:22:52.220 - Well, what I can tell you is this, 00:22:52.220 --> 00:22:57.220 is that if you go back to fiscal year 2019-20, 00:22:57.220 --> 00:22:58.680 fiscal year 2019-20, 00:22:59.820 --> 00:23:03.860 where we were in personnel, we were at 189 FTEs. 00:23:03.860 --> 00:23:06.980 Where we are today is 187 FTEs. 00:23:06.980 --> 00:23:09.860 So we've actually reduced FTEs during that period 00:23:09.860 --> 00:23:11.740 and slowly added them back in, right? 00:23:11.740 --> 00:23:15.820 And so we've done a lot of work on the personnel side 00:23:15.820 --> 00:23:18.740 to minimize and streamline things as best as we can. 00:23:18.740 --> 00:23:23.320 And so, again, let us go back and get you the details 00:23:23.320 --> 00:23:27.740 on that so that you're a little bit better informed. 00:23:27.740 --> 00:23:29.780 - I just wanna, I want a generalization of it. 00:23:29.780 --> 00:23:32.380 I mean, if you don't have that today, that's fine. 00:23:32.380 --> 00:23:35.820 But just why don't we start spending more money here 00:23:35.820 --> 00:23:39.340 on this line item that it's just, 00:23:39.340 --> 00:23:42.580 to me, it's an obvious number that comes up. 00:23:42.580 --> 00:23:45.100 - Yeah, I think Terry had a good point. 00:23:45.100 --> 00:23:48.760 The other thing is as we're looking at the ECA and TCRF, 00:23:48.760 --> 00:23:52.020 there are no personal expenses associated 00:23:52.020 --> 00:23:54.180 with any of those rates. 00:23:54.180 --> 00:23:56.520 All that is on the base rate side. 00:23:56.520 --> 00:23:59.060 Bill, if you go back to the five-year forecast, 00:23:59.060 --> 00:24:00.260 in the five-year forecast, 00:24:00.260 --> 00:24:04.940 we are looking at an additional 5.5% base rate increase 00:24:04.940 --> 00:24:05.780 for next year. 00:24:05.780 --> 00:24:07.860 And again, that's where we believe 00:24:07.860 --> 00:24:10.140 that some of the work we're doing on the CIP side 00:24:10.140 --> 00:24:14.220 and other things will reduce that going forward. 00:24:14.220 --> 00:24:16.560 But again, the personal expenses have nothing to do 00:24:16.560 --> 00:24:19.220 with the TCRF or the ECA. 00:24:19.220 --> 00:24:20.780 But I understand the question. 00:24:20.780 --> 00:24:21.840 Let us go back. 00:24:21.840 --> 00:24:24.760 We'll get you a memo on details on personnel. 00:24:24.760 --> 00:24:27.080 - Yeah, and I might have failed to mention, 00:24:27.080 --> 00:24:30.700 but the ECA and the TCRF are complete pass-through costs. 00:24:30.700 --> 00:24:32.700 Those are costs we incur. 00:24:32.700 --> 00:24:33.540 - I get that. 00:24:33.540 --> 00:24:35.420 That's a big change and a big number 00:24:35.420 --> 00:24:37.780 that people are going to be, oh, what are we doing here? 00:24:37.780 --> 00:24:38.860 Is everybody getting a raise 00:24:38.860 --> 00:24:41.220 and we're spending this many more million dollars? 00:24:41.220 --> 00:24:43.860 It's just a generalization, I think, is all I need. 00:24:43.860 --> 00:24:45.900 I don't need a detail of every person. 00:24:45.900 --> 00:24:48.540 - I have a question about process. 00:24:48.540 --> 00:24:51.060 You're actually asking the City Council 00:24:51.060 --> 00:24:55.180 to delegate the authority to approve 00:24:55.180 --> 00:24:58.900 these interim quarterly changes to the Public Utility Board. 00:24:58.900 --> 00:24:59.740 - Yes, sir. 00:24:59.740 --> 00:25:00.580 - Okay. 00:25:00.580 --> 00:25:02.300 So are we comfortable with that? 00:25:02.300 --> 00:25:03.140 - Hell yeah. 00:25:03.140 --> 00:25:03.980 - Yeah. 00:25:03.980 --> 00:25:04.800 - Okay. 00:25:04.800 --> 00:25:05.640 - Why are we volunteering? 00:25:05.640 --> 00:25:06.680 And I know we don't show up a lot, 00:25:06.680 --> 00:25:08.940 but that kind of dictates why we don't show up a lot, 00:25:08.940 --> 00:25:11.380 'cause it really doesn't make any difference. 00:25:11.380 --> 00:25:16.380 And that's been my gripe all the time to the Council. 00:25:16.380 --> 00:25:17.500 Why are we asking these boards to show up? 00:25:17.500 --> 00:25:19.420 - Well, we're concerned about public low back, 00:25:19.420 --> 00:25:22.900 and now we're accepting responsibility for that. 00:25:22.900 --> 00:25:23.740 - In the past. 00:25:23.740 --> 00:25:25.260 - There's something to keep in mind. 00:25:25.260 --> 00:25:27.180 - In the past, this was our task. 00:25:27.180 --> 00:25:28.020 - Oh, it was? 00:25:28.020 --> 00:25:28.840 - Yes. 00:25:28.840 --> 00:25:29.680 - Okay, well, that's good information. 00:25:29.680 --> 00:25:30.520 I didn't have that. 00:25:30.520 --> 00:25:31.340 Thank you. 00:25:31.340 --> 00:25:33.020 - Yeah, Mr. Rebeck, so the current ordinance 00:25:33.020 --> 00:25:35.980 already delegates that to the PUB. 00:25:35.980 --> 00:25:39.060 I think because we haven't made these changes 00:25:39.060 --> 00:25:42.140 in quite some time, we wanna revisit that with the Council. 00:25:42.140 --> 00:25:43.220 I think at the end of the day, 00:25:43.220 --> 00:25:46.860 ultimately the Council's deal retains final authority. 00:25:46.860 --> 00:25:48.700 So this delegation is only as good 00:25:48.700 --> 00:25:50.860 as the Council wants it to be. 00:25:50.860 --> 00:25:53.420 And so if they decide that the board's 00:25:53.420 --> 00:25:55.540 taking some action that they wanna talk about, 00:25:55.540 --> 00:25:57.740 they always retain that right. 00:25:57.740 --> 00:25:59.900 - I saw that in the write-up for the ordinance, 00:25:59.900 --> 00:26:02.460 but I was just curious 'cause it seemed like a change to me, 00:26:02.460 --> 00:26:03.700 but if that's the way it used to be, 00:26:03.700 --> 00:26:05.620 then that's good to know, good information. 00:26:05.620 --> 00:26:06.460 Thank you. 00:26:06.460 --> 00:26:09.820 - To piggyback on your statement, 00:26:09.820 --> 00:26:14.620 it's unfortunate we're in the economic times that we are. 00:26:14.620 --> 00:26:18.060 And for that 25% increase, it will. 00:26:18.060 --> 00:26:21.540 It will be a pocket hitter that we need to be prepared for. 00:26:21.540 --> 00:26:25.420 And as it, rightfully so, comes back to this committee, 00:26:25.420 --> 00:26:29.260 my suggestion is from the past that we used to have, 00:26:29.260 --> 00:26:32.180 our meetings will be longer than 30 minutes 00:26:32.180 --> 00:26:33.740 and be prepared for that. 00:26:33.740 --> 00:26:36.580 And we'll be to the one that makes the motion 00:26:36.580 --> 00:26:40.340 and seconds it because they will be the target. 00:26:40.340 --> 00:26:41.740 Being facetious, of course. 00:26:41.740 --> 00:26:45.900 But I appreciate that. 00:26:45.900 --> 00:26:48.380 And I like the idea that it's a pass-through. 00:26:48.380 --> 00:26:50.740 So I think that helps. 00:26:50.740 --> 00:26:52.540 It's not going into anyone's pocket. 00:26:52.540 --> 00:26:53.860 It's a pass-through cost. 00:26:53.860 --> 00:26:56.140 We understand pass-through costs. 00:26:56.140 --> 00:26:59.260 It's just unfortunate that it catches us here, 00:26:59.260 --> 00:27:02.420 but it is what it is and we'd be prepared for it. 00:27:02.420 --> 00:27:05.580 - We all know about our $39 phone plan that cost us $80 00:27:05.580 --> 00:27:08.620 because of pass-through fees and everything else. 00:27:08.620 --> 00:27:10.660 Yeah, so it doesn't matter that it's a $39 phone. 00:27:10.660 --> 00:27:12.020 - That was that creeping effect. 00:27:12.020 --> 00:27:14.380 And I appreciate that we're gonna be able to look at that. 00:27:14.380 --> 00:27:15.220 - Exactly. 00:27:15.220 --> 00:27:18.580 - And we will be holding somebody's feet to the fire 00:27:18.580 --> 00:27:21.500 versus the council, and I think that's important that we, 00:27:21.500 --> 00:27:22.420 because we're right up here. 00:27:22.420 --> 00:27:24.900 We're the front line, so why not be able to do that? 00:27:24.900 --> 00:27:25.740 - And let me reiterate. 00:27:25.740 --> 00:27:28.940 I think DME is the best-run utility we have in the city, 00:27:28.940 --> 00:27:31.220 okay, and because of this information, 00:27:31.220 --> 00:27:33.300 we get to ask these questions, you know? 00:27:33.300 --> 00:27:38.300 And it's really nice to have the respect of, 00:27:38.300 --> 00:27:40.020 or y'all to have the respect of the board, 00:27:40.020 --> 00:27:43.660 or anyway, y'all go into detail 00:27:43.660 --> 00:27:45.820 and be able to explain things, and I appreciate that. 00:27:45.820 --> 00:27:47.500 So let me make sure that's clear. 00:27:47.500 --> 00:27:50.700 - I'd also be remiss if I didn't give you 00:27:50.700 --> 00:27:52.180 a little bit more context. 00:27:52.180 --> 00:27:56.260 So the $106, that's our average customer bill right now, 00:27:56.260 --> 00:27:59.300 that makes us the second-lowest cost provider in the state. 00:27:59.300 --> 00:28:01.740 - And that means we'll get to sell that. 00:28:01.740 --> 00:28:03.420 - Yeah, that's the sizzle we need. 00:28:03.420 --> 00:28:06.220 - Well, that's the first part of the story. 00:28:06.220 --> 00:28:08.540 The second part is once we make this adjustment, 00:28:08.540 --> 00:28:10.340 it'll bring us to the middle of the pack, 00:28:10.340 --> 00:28:12.300 which I would argue is a little bit more appropriate 00:28:12.300 --> 00:28:15.620 for a utility such as DME, who's constantly growing, 00:28:15.620 --> 00:28:17.540 constantly expanding, constantly looking 00:28:17.540 --> 00:28:19.780 at new and better ways to do things. 00:28:19.780 --> 00:28:21.500 - And more than just distribution. 00:28:21.500 --> 00:28:22.340 - Yes, sir. 00:28:22.340 --> 00:28:26.140 - And this is an industry standard type of rate 00:28:26.140 --> 00:28:29.940 that every utility has this on their bill. 00:28:29.940 --> 00:28:31.460 I'm served by CoServe. 00:28:31.460 --> 00:28:35.540 They're passing it through, my bill went way up. 00:28:35.540 --> 00:28:39.100 - And I'll steal a little bit of Mr. Nalti's thunder, 00:28:39.100 --> 00:28:42.820 but also don't forget, we're 100% renewable. 00:28:42.820 --> 00:28:44.260 - Yes. - That comes with a cost. 00:28:44.260 --> 00:28:46.260 None of those compares, I'm telling you about, 00:28:46.260 --> 00:28:50.220 that we're middle in the pack of, can make that claim. 00:28:50.220 --> 00:28:53.420 So as a fact, in fact, after we make the adjustment, 00:28:53.420 --> 00:28:55.340 we're still gonna be the second lowest provider 00:28:55.340 --> 00:28:57.860 for a retail 100% product. 00:28:57.860 --> 00:28:58.860 - But correct me if I'm wrong, 00:28:58.860 --> 00:29:01.980 that 31 million was for natural gas. 00:29:01.980 --> 00:29:05.700 - That 31 million was a fuel offset, yeah. 00:29:05.700 --> 00:29:09.060 - So again, I'm just an uninformed citizen. 00:29:09.060 --> 00:29:11.780 They're gonna say, well, for 100% renewable, 00:29:11.780 --> 00:29:14.420 why am I paying $31 million for natural gas? 00:29:14.420 --> 00:29:17.060 Now, of course, we all know how that works. 00:29:17.060 --> 00:29:19.500 But it's 31 million for natural gas 00:29:19.500 --> 00:29:20.980 when we're 100% renewable. 00:29:20.980 --> 00:29:22.300 So that will be a talking point. 00:29:22.300 --> 00:29:25.580 - Yeah, absolutely, and we'll rely on you all 00:29:25.580 --> 00:29:27.900 to take those talking points forward, 00:29:27.900 --> 00:29:31.020 and we'll certainly continue to try to educate our customers. 00:29:31.020 --> 00:29:32.860 - Well, I think it's great that we are going 00:29:32.860 --> 00:29:36.860 to take the gloves off and do what we should be doing. 00:29:36.860 --> 00:29:39.420 And we should have a mindset of, 00:29:39.420 --> 00:29:41.780 be prepared to ask questions, and ask a bunch, 00:29:41.780 --> 00:29:43.420 because they'll be ready to answer it. 00:29:43.420 --> 00:29:44.260 - Yeah. 00:29:44.260 --> 00:29:47.660 - Thank you. - Any further questions? 00:29:47.660 --> 00:29:49.100 Oh, here comes Mr. Nalti. 00:29:49.100 --> 00:29:52.500 - Sorry, I stole some of that thunder. 00:29:52.500 --> 00:29:53.340 - Did we recognize you? 00:29:53.340 --> 00:29:55.300 - I just apologize. 00:29:55.300 --> 00:29:56.820 Terry Nalti, Assistant General Manager. 00:29:56.820 --> 00:29:58.460 I just wanna correct the record. 00:29:58.460 --> 00:30:02.140 The 31.5 million was not for natural gas. 00:30:02.140 --> 00:30:04.660 Bill refers to it as a fuel adjustment factor. 00:30:04.660 --> 00:30:07.540 It's actually an energy cost adjustment factor. 00:30:07.540 --> 00:30:12.540 It's the cumulative cost of supplying market-based energy 00:30:12.540 --> 00:30:14.460 to serve the load. 00:30:14.460 --> 00:30:18.260 And in this past summer, as you know, it was very hot. 00:30:18.260 --> 00:30:23.500 And our demand was significantly higher than we forecasted. 00:30:23.500 --> 00:30:26.540 So the cost that we're talking about, 00:30:26.540 --> 00:30:31.100 the 31.5 million, was extra wholesale electric cost 00:30:31.100 --> 00:30:33.500 that we had to purchase energy 00:30:33.500 --> 00:30:36.140 to meet the demands of our customers. 00:30:36.140 --> 00:30:38.700 Yes, we do burn natural gas, but we do that 00:30:38.700 --> 00:30:42.220 in order to protect our rate payers 00:30:42.220 --> 00:30:45.900 from the volatility associated with the intermittency 00:30:45.900 --> 00:30:48.340 of our renewable resources. 00:30:48.340 --> 00:30:51.460 Were it not for that natural gas 00:30:51.460 --> 00:30:54.260 and the cost associated with it, 00:30:54.260 --> 00:30:58.780 that 31.5 million would have been more like 100 million. 00:30:58.780 --> 00:31:02.380 So that's why we have the DEC, 00:31:02.380 --> 00:31:06.900 and it's been referred to as an insurance policy. 00:31:06.900 --> 00:31:11.220 It is a mitigant to the intermittency 00:31:11.220 --> 00:31:12.500 of the renewable energy. 00:31:12.500 --> 00:31:16.860 I hope that clarifies it for you. 00:31:16.860 --> 00:31:19.060 - Well, in terms of that offset, 00:31:19.060 --> 00:31:22.500 it's kind of, we use that energy center, 00:31:22.500 --> 00:31:25.220 the gas plant, if you will, 00:31:25.220 --> 00:31:28.860 to offset the high costs of the volatility 00:31:28.860 --> 00:31:31.340 from the renewable energy. 00:31:31.340 --> 00:31:32.180 - That's correct. 00:31:32.180 --> 00:31:33.180 - So it's almost a-- 00:31:33.180 --> 00:31:36.220 - It's actually not the high cost of the renewable energy, 00:31:36.220 --> 00:31:38.220 it's the fact that when the renewable energy 00:31:38.220 --> 00:31:40.980 doesn't show up in the marketplace, 00:31:40.980 --> 00:31:45.060 the resulting prices in the wholesale market are much higher. 00:31:45.060 --> 00:31:50.060 And so, if you lose 10,000 megawatts of wind generation 00:31:50.060 --> 00:31:53.180 on a very hot day, you gotta replace that 00:31:53.180 --> 00:31:58.100 with very high cost, older generation resources 00:31:58.100 --> 00:32:01.020 that aren't dependent upon Mother Nature 00:32:01.020 --> 00:32:03.340 to provide the energy. 00:32:03.340 --> 00:32:05.780 So, that's what causes the volatility 00:32:05.780 --> 00:32:07.380 and the prices to go up. 00:32:07.380 --> 00:32:08.220 - Right. 00:32:08.220 --> 00:32:10.220 - Now, one last point I'd make is that 00:32:10.220 --> 00:32:14.020 there have been a number of changes in the ERCOT market. 00:32:14.020 --> 00:32:19.020 And last year, let me say last year, last fiscal year, 00:32:19.020 --> 00:32:23.580 the independent market monitor 00:32:23.580 --> 00:32:29.060 calculated that the cost of market changes 00:32:29.060 --> 00:32:34.060 to the market was eight to $12 billion of additional cost. 00:32:34.060 --> 00:32:38.060 And so, if you just take a load ratio share 00:32:38.060 --> 00:32:42.620 of our percentage of energy that we consume out of the market, 00:32:42.620 --> 00:32:45.660 that's in excess of the 31.5 billion, 00:32:45.660 --> 00:32:50.500 or 31.5 million that we're trying to recover here. 00:32:50.500 --> 00:32:54.620 So, all utilities in the market 00:32:54.620 --> 00:32:57.620 experienced the same phenomenon. 00:32:57.620 --> 00:33:02.620 And all utilities, Bill said, we look at comparables. 00:33:02.620 --> 00:33:05.700 We wanna make sure that we're being cost effective 00:33:05.700 --> 00:33:09.420 and that our rates are competitive. 00:33:09.420 --> 00:33:14.420 I expect all utilities in the state to raise their rates. 00:33:14.420 --> 00:33:15.900 And on the competitive side, 00:33:15.900 --> 00:33:19.060 if you're in competitive encore areas, 00:33:19.060 --> 00:33:24.060 right now you're paying 14 to 16 cents per kilowatt hour. 00:33:24.060 --> 00:33:26.180 And even with the rate increase, 00:33:26.180 --> 00:33:29.460 we're still gonna be under 12 cents. 00:33:29.460 --> 00:33:32.700 So, we're doing everything we can 00:33:32.700 --> 00:33:35.020 to try to keep the cost down to customers. 00:33:35.020 --> 00:33:37.420 There are just a number of these issues 00:33:37.420 --> 00:33:39.300 that we have no control over. 00:33:39.300 --> 00:33:43.140 And therefore, we have to pass through those costs. 00:33:43.140 --> 00:33:44.940 - Thank you. - Thank you. 00:33:44.940 --> 00:33:48.860 - On the TCRF, those are directly tied to the changes 00:33:48.860 --> 00:33:51.060 in transmission cost of service? 00:33:51.060 --> 00:33:51.900 - Yes, sir. 00:33:51.900 --> 00:33:54.020 - So, that's half of this rate change 00:33:54.020 --> 00:33:59.020 is due to the PUC and that we've been following 00:33:59.020 --> 00:34:04.260 via our appeal and lawsuit against them. 00:34:04.260 --> 00:34:06.180 So, I think that's also an important factor. 00:34:06.180 --> 00:34:09.620 This isn't just fuel cost. 00:34:09.620 --> 00:34:11.980 It is now, ERCOT's energy prices 00:34:11.980 --> 00:34:17.020 over the last three years have been crazy. 00:34:17.020 --> 00:34:21.460 And we see that all over in rates all over Texas. 00:34:21.460 --> 00:34:26.180 I think there's also something to consider the, 00:34:26.180 --> 00:34:28.780 my understanding is our renewables are, 00:34:28.780 --> 00:34:31.020 I should say in the money. 00:34:31.020 --> 00:34:34.380 Like they are generating more value 00:34:34.380 --> 00:34:35.860 than we are paying for them. 00:34:35.860 --> 00:34:39.180 And the deck is also in the money. 00:34:39.180 --> 00:34:44.060 When it runs, it's paying all of its operating cost 00:34:44.060 --> 00:34:46.540 and it's capital. 00:34:46.540 --> 00:34:50.060 The problem is we don't have enough of either apparently. 00:34:50.060 --> 00:34:52.660 So, now part of that was we've designed those 00:34:52.660 --> 00:34:55.740 eight years ago and nine years. 00:34:55.740 --> 00:34:58.020 I don't remember exactly how many years ago, 00:34:58.020 --> 00:34:59.460 almost a decade ago. 00:34:59.460 --> 00:35:02.140 And we've had lots of load growth since then. 00:35:02.140 --> 00:35:05.340 So, and I think that's why we had a flat rate 00:35:05.340 --> 00:35:09.060 for seven years was at the time the deck was constructed, 00:35:09.060 --> 00:35:11.420 it could cover our entire load, 00:35:11.420 --> 00:35:12.820 take us out of the ERCOT market 00:35:12.820 --> 00:35:15.340 when the ERCOT market went crazy 00:35:15.340 --> 00:35:16.860 and it can no longer do that. 00:35:17.940 --> 00:35:20.460 And same thing on our wind and solar. 00:35:20.460 --> 00:35:27.660 It's a challenge to know when to expand those 00:35:27.660 --> 00:35:30.820 and they are variable and we buy 120 or something percent 00:35:30.820 --> 00:35:33.740 of our entire load from wind and solar, 00:35:33.740 --> 00:35:35.420 but it doesn't always come when we need it. 00:35:35.420 --> 00:35:38.580 So, do we need to move to 140% 00:35:38.580 --> 00:35:40.580 or at some point does it break over 00:35:40.580 --> 00:35:43.660 and become a cost instead of a benefit? 00:35:43.660 --> 00:35:47.500 Because right now our renewables lower our rates. 00:35:48.780 --> 00:35:52.700 - So, Devin threw out a lot of stuff here. 00:35:52.700 --> 00:35:56.780 So, one, we are working on an RFP now, 00:35:56.780 --> 00:35:59.500 we're evaluating that, we're gonna be bringing that to you 00:35:59.500 --> 00:36:02.260 to award additional 100 megawatts, 00:36:02.260 --> 00:36:04.540 bring on additional 100 megawatts of solar 00:36:04.540 --> 00:36:07.540 and an additional 100 that we're also working on. 00:36:07.540 --> 00:36:10.740 So, we're looking at additional 200 megawatts of solar 00:36:10.740 --> 00:36:13.220 that we're gonna be bringing to the board 00:36:13.220 --> 00:36:15.260 and to the council for consideration. 00:36:16.100 --> 00:36:19.220 The other item that you mentioned, 00:36:19.220 --> 00:36:22.860 so we are working on updating our den renewable resource plan 00:36:22.860 --> 00:36:25.220 to address that sort of question 00:36:25.220 --> 00:36:27.820 and certainly that'll be presented to you 00:36:27.820 --> 00:36:31.460 and to the council in a kind of a cafeteria plan, 00:36:31.460 --> 00:36:34.260 menu plan so that you understand what the options are 00:36:34.260 --> 00:36:36.220 and what the costs are as well 00:36:36.220 --> 00:36:39.660 to keeping the status quo, making changes to that, 00:36:39.660 --> 00:36:41.460 making other investments and what have you 00:36:41.460 --> 00:36:45.340 and internally we'll be looking for direction on that. 00:36:45.340 --> 00:36:47.820 The other thing that I'll just remind you 00:36:47.820 --> 00:36:50.500 and you referenced our ongoing 00:36:50.500 --> 00:36:52.980 transmission cost of service case, 00:36:52.980 --> 00:36:57.780 that was nexus of $30 million that disappeared overnight. 00:36:57.780 --> 00:36:59.740 And so, that certainly has had an impact 00:36:59.740 --> 00:37:03.540 and we're trying to react as best we can 00:37:03.540 --> 00:37:06.220 to those types of financial issues. 00:37:06.220 --> 00:37:10.940 - Any further questions? 00:37:10.940 --> 00:37:14.700 Okay, do we have a motion to approve? 00:37:15.860 --> 00:37:16.780 Thank you Billy. 00:37:16.780 --> 00:37:18.260 Second? 00:37:18.260 --> 00:37:19.420 Thank you. 00:37:19.420 --> 00:37:20.860 All in favor say aye. 00:37:20.860 --> 00:37:22.300 - Aye. - Opposed? 00:37:22.300 --> 00:37:24.580 There we go. 00:37:24.580 --> 00:37:25.820 - Thank you. - Thank you. 00:37:25.820 --> 00:37:29.180 Management reports. 00:37:29.180 --> 00:37:32.700 - Madam Chair, members of the board, 00:37:32.700 --> 00:37:34.620 so the first item that we have here for you 00:37:34.620 --> 00:37:37.220 is a follow up item. 00:37:37.220 --> 00:37:40.860 I see that Brett is here. 00:37:40.860 --> 00:37:43.780 So Brett kind of helped put that together for us 00:37:43.780 --> 00:37:46.420 and so our hope is that that's given you 00:37:46.420 --> 00:37:48.500 the information needed on the impact 00:37:48.500 --> 00:37:50.380 on all the changes to the criteria manual. 00:37:50.380 --> 00:37:52.580 But certainly if there's questions that you have 00:37:52.580 --> 00:37:54.460 on any of that, certainly Brett's here 00:37:54.460 --> 00:37:57.300 and we have other staff here that can address that. 00:37:57.300 --> 00:37:58.740 - I have a question for Brett. 00:37:58.740 --> 00:38:11.820 - Brett Bourgeois, Deputy City Engineer. 00:38:11.820 --> 00:38:12.820 - Thank you for coming today 00:38:12.820 --> 00:38:14.340 and I appreciate you generating a report, 00:38:14.340 --> 00:38:16.940 especially since I'm pretty much the one who asked for it. 00:38:16.940 --> 00:38:17.860 - Of course. 00:38:17.860 --> 00:38:19.300 - One of the things I was wondering is 00:38:19.300 --> 00:38:22.500 it seemed that the costs that are mentioned here 00:38:22.500 --> 00:38:24.780 are primarily cost to the city? 00:38:24.780 --> 00:38:30.060 - So with regards to the stormwater cost you're referring to, 00:38:30.060 --> 00:38:32.740 yeah, so currently we do not have a requirement 00:38:32.740 --> 00:38:37.100 to mitigate sediment or sediment office development sites 00:38:37.100 --> 00:38:39.140 from private developments. 00:38:39.140 --> 00:38:42.420 That's a requirement of our MS4 permit with the state 00:38:42.420 --> 00:38:45.500 or the federal government and that is a recommendation 00:38:45.500 --> 00:38:49.820 that most municipalities and most states already require. 00:38:49.820 --> 00:38:51.260 We do not have that requirement. 00:38:51.260 --> 00:38:54.180 We're anticipating EPA indicated they're gonna make 00:38:54.180 --> 00:38:56.940 that a federal requirement in the next update. 00:38:56.940 --> 00:38:59.700 So we want to kind of get in line with the industry 00:38:59.700 --> 00:39:02.940 and because we don't have that sediment requirement, 00:39:02.940 --> 00:39:05.420 our staff has to clean and maintain the channels 00:39:05.420 --> 00:39:07.260 and the culverts currently. 00:39:07.260 --> 00:39:08.580 And I think I put a number in there. 00:39:08.580 --> 00:39:11.220 We ran about five years of data. 00:39:11.220 --> 00:39:14.780 It's about 300 or so thousand dollars a year on average 00:39:14.780 --> 00:39:17.420 to clean out sediment from the existing channels 00:39:17.420 --> 00:39:21.620 and culverts currently the city has to pay for. 00:39:21.620 --> 00:39:24.300 So that will still occur because those sites 00:39:24.300 --> 00:39:25.780 are not currently being mitigated, 00:39:25.780 --> 00:39:27.940 but we're trying to limit any future sites 00:39:27.940 --> 00:39:31.060 from having sediment deposits into the system. 00:39:31.060 --> 00:39:33.860 - Okay, so in theory there could be some savings then 00:39:33.860 --> 00:39:37.220 to the city's operating budget as a result of these changes. 00:39:37.220 --> 00:39:40.020 What I was primarily concerned about were costs 00:39:40.020 --> 00:39:44.900 to the public, so if it costs more to build culverts 00:39:44.900 --> 00:39:49.660 and drainage, then it's gonna put more into the tax base 00:39:49.660 --> 00:39:52.740 as a result of higher bond costs, 00:39:52.740 --> 00:39:56.260 or it's going to cause developers to have higher costs 00:39:56.260 --> 00:39:58.900 to develop property for these kind of changes. 00:39:58.900 --> 00:40:01.740 Those are kind of some of the things I was looking for. 00:40:01.740 --> 00:40:06.060 So I'm not sure that those were kind of addressed 00:40:06.060 --> 00:40:08.460 in your memo to cost to others 00:40:08.460 --> 00:40:10.860 as opposed to internal cost to the city. 00:40:10.860 --> 00:40:13.380 - So we looked at the cost for others. 00:40:13.380 --> 00:40:17.980 They're the only one, there's no way for us to estimate 00:40:17.980 --> 00:40:20.500 the stormwater impact cost or the changes 00:40:20.500 --> 00:40:22.860 to the stormwater criteria manual to others 00:40:22.860 --> 00:40:25.460 because they're so highly dependent upon the site, 00:40:25.460 --> 00:40:27.660 the type of development and the type of mitigation measure 00:40:27.660 --> 00:40:29.980 they decide to go with. 00:40:29.980 --> 00:40:32.420 So about three or four different independent variables 00:40:32.420 --> 00:40:34.900 that are all very selective. 00:40:34.900 --> 00:40:37.940 We reached out to iSwim, which is our guidance document 00:40:37.940 --> 00:40:40.260 that we adopted from the Metroplex, 00:40:40.260 --> 00:40:43.100 and we spoke with them about how to get some costs. 00:40:43.100 --> 00:40:45.660 We spoke with our consultants about how to estimate costs, 00:40:45.660 --> 00:40:47.900 and they directed us to these online tools 00:40:47.900 --> 00:40:51.100 we provided links to within their memo 00:40:51.100 --> 00:40:52.980 that you can go in there, you can put in the size 00:40:52.980 --> 00:40:56.220 of your site, the amount of impervious surface 00:40:56.220 --> 00:40:58.980 you're putting in, the type of mitigation measure 00:40:58.980 --> 00:41:00.740 you're choosing, and then it'll give you 00:41:00.740 --> 00:41:05.100 an approximate installation cost, operating cost, 00:41:05.100 --> 00:41:07.740 maintenance cost, et cetera, and the maintenance timeframes. 00:41:07.740 --> 00:41:09.820 So they do have online tools. 00:41:09.820 --> 00:41:11.180 You can put in all those parameters 00:41:11.180 --> 00:41:12.660 for your different sites. 00:41:12.660 --> 00:41:17.100 Every site is so dependent, though we didn't feel comfortable 00:41:17.100 --> 00:41:19.620 putting up a number into the report 00:41:19.620 --> 00:41:22.540 that's so dependent on so many factors. 00:41:22.540 --> 00:41:24.580 - Okay, well I think on the stormwater side, 00:41:24.580 --> 00:41:26.220 and I certainly understand that. 00:41:26.220 --> 00:41:28.620 I think the only one that you're able to 00:41:28.620 --> 00:41:32.740 sort of more clearly talk about was street lighting. 00:41:32.740 --> 00:41:35.300 So I'm assuming that's increased 00:41:35.300 --> 00:41:37.300 is both in the cost of the development 00:41:37.300 --> 00:41:38.820 and in the cost of operation. 00:41:38.820 --> 00:41:42.540 - I think Mr. Fielder here would be able 00:41:42.540 --> 00:41:43.740 to speak more to the streetlight one. 00:41:43.740 --> 00:41:45.740 The streetlight one is one that's already been adopted. 00:41:45.740 --> 00:41:46.580 - While you're up there. 00:41:46.580 --> 00:41:47.420 - Yes. 00:41:47.420 --> 00:41:51.860 - Is this coming out, is this, 00:41:51.860 --> 00:41:54.420 the mitigation is going to stormwater, et cetera? 00:41:54.420 --> 00:41:56.060 Does that come from the drainage budget? 00:41:56.060 --> 00:41:56.900 - Correct. 00:41:56.900 --> 00:41:59.420 All right. 00:41:59.420 --> 00:42:06.140 - Move it down. 00:42:06.140 --> 00:42:07.980 - Jerry Fielder, Division Engineering Manager. 00:42:07.980 --> 00:42:08.980 Could you repeat your question? 00:42:08.980 --> 00:42:12.420 I was looking through my emails, I'm sorry. 00:42:12.420 --> 00:42:14.220 - No, I was saying the street lighting 00:42:14.220 --> 00:42:16.540 was the thing that was most obvious 00:42:16.540 --> 00:42:18.900 to be able to calculate a cost to, 00:42:18.900 --> 00:42:21.700 and it's going to increase the cost to 56%. 00:42:21.700 --> 00:42:23.420 That's a reasonable number. 00:42:23.420 --> 00:42:26.460 You increase the number of lights, drops, 00:42:26.460 --> 00:42:28.680 power pole, it's all gonna cost money. 00:42:28.680 --> 00:42:31.380 But what about the cost of operation? 00:42:31.380 --> 00:42:33.020 Is that passed on to the resident? 00:42:33.020 --> 00:42:34.580 Is that passed on to the city budget? 00:42:34.580 --> 00:42:36.180 How does that work? 00:42:36.180 --> 00:42:38.820 - A little bit different from what Brett talked about, 00:42:38.820 --> 00:42:41.740 but the additional cost for street lighting 00:42:41.740 --> 00:42:44.100 is typically borne by the developer. 00:42:44.100 --> 00:42:45.260 That's the majority of the folks 00:42:45.260 --> 00:42:46.620 who put in the streetlights in this, 00:42:46.620 --> 00:42:48.420 so we pass that on to the developer. 00:42:48.420 --> 00:42:49.420 - But the cost of operating lights. 00:42:49.420 --> 00:42:52.220 - Yes, the cost of operating is through the rates 00:42:52.220 --> 00:42:53.580 of what the city's component is. 00:42:53.580 --> 00:42:55.100 The city has to pay for the energy, 00:42:55.100 --> 00:42:56.620 and that's in the rates. 00:42:56.620 --> 00:42:58.220 So yes, with a few more lights, 00:42:58.220 --> 00:43:00.260 there's gonna be a little bit more on that. 00:43:00.260 --> 00:43:02.220 - Okay, so that's just populated 00:43:02.220 --> 00:43:04.940 through the entire city rate case, 00:43:04.940 --> 00:43:07.540 which you all just covered in great detail. 00:43:07.540 --> 00:43:09.340 - Yes. - Okay. 00:43:09.340 --> 00:43:11.740 All right, well, thank you for the clarification. 00:43:11.740 --> 00:43:15.020 I don't have any other questions, thank you. 00:43:15.020 --> 00:43:15.860 - Thank you. 00:43:15.860 --> 00:43:22.500 - All right, so the next item that you have in front of you 00:43:22.500 --> 00:43:24.420 is just a future agenda. 00:43:24.420 --> 00:43:27.900 Obviously, today we've covered the ECA-TCRF. 00:43:27.900 --> 00:43:31.420 Coming up on May 20th, we'll start kind of the budget process 00:43:31.420 --> 00:43:33.980 and the finance department will bring to you 00:43:33.980 --> 00:43:35.260 all of the utility budgets 00:43:35.260 --> 00:43:38.740 and with all the detail that you've customarily gotten, 00:43:38.740 --> 00:43:41.500 and we'll certainly be able to get into as much detail 00:43:41.500 --> 00:43:43.340 as you would like on that. 00:43:43.340 --> 00:43:45.540 So just plan accordingly, if you will. 00:43:45.540 --> 00:43:47.020 So we certainly would love to make sure 00:43:47.020 --> 00:43:50.980 that we have a quorum of these dates. 00:43:50.980 --> 00:43:54.180 The most important date is July 8th, 00:43:54.180 --> 00:43:55.580 'cause that's when we'll be asking you 00:43:55.580 --> 00:44:00.580 to approve rate changes and what have you, 00:44:00.620 --> 00:44:05.140 so they can then go to the council for further discussion. 00:44:05.140 --> 00:44:07.420 And then for new business items, 00:44:07.420 --> 00:44:09.700 today we've knocked out another one, 00:44:09.700 --> 00:44:11.580 which is on the criteria manual questions, 00:44:11.580 --> 00:44:14.680 and we still have one left regarding fleet, 00:44:14.680 --> 00:44:16.660 but we still have some time on that one. 00:44:16.660 --> 00:44:19.660 So with that, Madam Chair, that concludes our update. 00:44:19.660 --> 00:44:21.580 Any questions, anyone wants to have some? 00:44:21.580 --> 00:44:22.420 - Questions? 00:44:22.420 --> 00:44:26.220 Mr. Dunn, good job, nobody's asking. 00:44:26.220 --> 00:44:27.740 That brings us to concluding items. 00:44:27.740 --> 00:44:30.100 Does any board member wish to say something to the public 00:44:30.100 --> 00:44:32.740 or have something put on a future agenda? 00:44:32.740 --> 00:44:40.700 Okay, seeing none, it is actually 944. 00:44:40.700 --> 00:44:42.180 Do we have a motion to adjourn? 00:44:42.180 --> 00:44:43.020 - So moved. 00:44:43.020 --> 00:44:43.840 - Okay. 00:44:43.840 --> 00:44:46.100 (laughing)