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HomeMy WebLinkAbout2004 Minutes BWL PRELIMINARY—SUBJECT TO BOARD APPROVAL ON MARCH 22, 200$ r MINUTES OF THE BOARD OF COMMISSIONERS' MEETING-, LANSING BOARD OF WATER AND LIGHT Tuesday,January 25, 2005 r.7, The Board of Commissioners met in the Boardroom of the Administrative Offices, 1232 Haco Drive, Lansing, Michigan. Present: Commissioners Gary L. Calkins,Ronald C. Callen, Tim Haggart,Ifield Joseph, Santiago Rios, Robin M. Smith and Nancy Wonch(arrived at 6:00 p.m.). Absent: Commissioner Nancy W. Duncan The Secretary declared a quorum present. Chairperson Smith called the meeting to order at 5:30 p.m. APPROVAL OF MINUTES Motion by Commissioner Joseph, seconded by Commissioner Haggart, to approve the minutes of the regular meeting held November 23, 2004. Carried unanimously. PUBLIC COMMENTS THE CHAIR ANNOUNCED THAT MEMBERS OF THE PUBLIC ARE WELCOME TO SPEAK TO THE BOARD ON ANY AGENDA SUBJECT OR ON ANY OTHER SUBJECT NOW, OR AT THE END OF THE MEETING. Ron Byrnes, BWL retiree, expressed concern with information management presented to the Commissioners at the January 11, 2005 Committee of the Whole meeting. He referred to a letter sent to the Commissioners from the BWL Retirees' Club Pension and Benefits Committee, dated January 18, 2005, incorporated herein by reference, with facts in response to management's report entitled "Retirees' Pension Adjustments — Summary," and discussed at the January 11"' meeting. Mr. Byrnes disagreed with staff s statement that the IBEW cannot negotiate for retired employees. He stated out that the IBEW and the BWL have a long history of bargaining for currently retired employees. He also stated that a promise to review pensions every three years DRAFT—Subject to Board Approval on 3122105 Page 2 Board Meeting January 25,2005 with a one-year look back was made based on a Personnel Committee Report, dated November 25, 1996 and approved by the Board on November 26, 1996. He further noted that pension increases were given in 1991, 1995, and in 1998 increases were considered but not given. In 2001 increases were considered and granted. Mr. Byrnes urged the Board to evaluate the facts presented by the Retirees' Pension and Benefits Committee and to vote NO on the proposed Board Policy on Retiree Pension Changes (Board Agenda Item 10.b). John Pollard, 1718 Blair, Lansing, stated that as a rate payer and an owner of the Board of Water and Light (BWL) he is opposed to the BWL helping to set up barricades last July when Vice President Cheney was in town, regardless of whether it was done for a republican or democratic candidate. Also, he is opposed to BWL employees putting up Christmas lights in Old Town Lansing. He addressed several issues; namely: (1) BWL statements made to the Lansing State Journal on the lead issue with regard to the Commissioners limited knowledge about the problem when it became public last summer; (2) the termination of former General Manager Joseph Pandy, Jr., (3) the job demotion of Virginia Cluley and the dismissal of David Cluley, and (4) complained about the unreasonable amount he is being charged to receive records requested under the Freedom of Information Act (FOIA). Mr. Pollard stated that he filed five FOIA requests and the BWL's cost to disclose the records is unreasonable. He alleged that the records requested are the same as those provided to the Lansing City Council. Mr. Pollard warned that the BWL has two weeks from this night to address these issues and provide him with the information requested under FOIA, otherwise he is taking this matter to the next level. Jim Dravenstatt-Moceri, BWL employee and member of the IBEW Local 352 executive board, reported that for several weeks the BWL Lead Task Force has been working to develop a recommendation that will assist in staffing the water department for lead replacements and for inspection of the CSO project in connection with the water main, domestic and commercial water lines and chlorination. He said that a CSO inspector can also oversee and inspect lead replacements to assure the installation meets BWL standards. Eleven positions are being recommended consisting of three CSO inspectors, four operators, two mechanics, and two administrative positions. Once the bidding process is completed, the task force will present its recommendation to the Board. Mr. Dravenstatt-Moceri said that IBEW supports the task force's recommendation and urged the Board's support when this matter is presented for action. COMMUNICATIONS Letter from Ronald T. Byrnes, Chair, BWL Retirees' Club Pension and Benefits Committee, dated December 30, 2004, regarding cost of living allowance considerations for retirees in the Defined Benefit Pension Plan Placed on file. Freedom of Information Act request from John Pollard of Fair Share Coalition of Lansing, dated January 17, 2005 for information on payments made by the BWL for outside legal counsel in 2002-2004. Referred to management. DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 3 January 25,2005 Letter from Ronald T. Byrnes, Chair, BWL Retirees' Club Pension and Benefits Committee, dated January 18, 2005 regarding information presented by staff at the January 11, 2005 Committee of the Whole meeting. Placed on file. An E-mail from the BWL Retirees' Club Pension and Benefits Committee, dated January 21, 2005, expressing concern with management's position concerning Defined Benefit Pension Plan adjustments. Placed on file. COMMITTEE REPORTS esolutiori 2005-14 COMMITTEE OF THE WHOLE REPORT Present: Commissioners Callen, Calkins, Duncan, Joseph, Rios, Smith, and Wonch. Absent: Commissioner Haggart. A meeting of the Committee of the Whole of the Board of Water and Light was held at the Executive Offices, Lansing, beginning at 5:30 p.m., Tuesday, December 14, 2004. CSO/Water System Construction Update John Matuszak, Senior Engineer of Customer Projects and System Integrity, gave an update of the CSO/Water System Construction project. His first report was presented to the Commissioners in May 2004 regarding his analysis of the process used to implement water system improvements in conjunction with Lansing's CSO abatement program. The report provided a brief background of practices and procedures used in the CSO program and evaluated two main issues that were of major concern to the BWL; namely, the frequency of plugged water meters in CSO project areas and the quality of inspections performed by field inspectors. The seven action items planned for implementation during the 2004 construction season to improve the performance in these two areas and to address other CSO issues, as described in his initial report,were summarized. Mr. Matuszak presented an update of the 2004 construction activities and the progress that has been made. It was reported that for the most part, water improvements are being installed and inspected by competent and capable contractors and inspectors; construction methods and materials are in conformance with BWL standards and specifications; when variances from standards occurred corrective action was taken; the frequency of plugged meters and facility damage were lower in 2004--there were 34 plugged meters in 2003 vs. 6 in 2004 and 41 damage events in 2003 vs. 18 in 2004; customer complaints have remained relatively low; and work has progressed on developing standards and specifications which are more concise and logical. With few exceptions, methods and materials used in the water main installation process were in accordance with applicable construction standards and specifications. DRAFT—Subject to Board Approval on 3122105 Page 4 Board Meeting January 25,2005 (Commissioner Duncan entered the room at 6:51 p.m.) Mr. Matuszak noted that there are areas where improvements are needed, as demonstrated by the service installation problems, which occurred in the 018E project area. Based on his field observations during the 2004 construction season and meetings with representatives from the City of Lansing, project contractor and project engineer, nine specific actions are recommended for implementation before the 2005 construction season: 1. Maintain the current practice of using City of Lansing inspectors. 2. Abandon the current practice of installing partial service replacements. 3. Have BWL personnel approve water service line installations. 4. Continue the process to update construction standards and specifications. 5. Conduct additional training for inspectors and contractors 6. Check for inoperable water valves before commencing CSO projects 7. Improve customer notification and water interruption report forms 8. Include the"water complaint"component in the system-wide complaint reporting system or do manually if this is not possible. 9. Revise the Service Investigation Order system to "flag"recurring water service problems. Staff gave assurance that for the 2005 construction season, specifications and standards would be clear enough so that contractors are held accountable. Staff plans to present an update report to the City Council at a later date. Six-Year Financial Plan. Sr. Vice President of Finance Dennis McFarland reviewed the BWL's Financial Plan for 2005 — 2010. _Mr. McFarland's presentation had two purposes: To fulfill the commitment made to the Board last spring that staff would come back with a financial plan and to provide context for consideration when the strategic plan is discussed. The financial plan is an important tool for the Commissioners to understand.the impact various actions will have on the utility's financial situation. The Board's direction and guidance was requested throughout the discussion. The following BWL financial goals were highlighted: • Maintain Credit Quality • Ensure adequate liquidity • Maintain rate competitiveness • Efficient and appropriate use of capital • Financially independent utilities The base forecast and known and projected changes from the base case were reviewed in depth. The financial plan forecasts that the BWL will need to develop both operating and rate strategies to overcome a projected revenue deficiency of approximately$63 million over the next six years. Without the financial plan, the utility faces a cash flow shortfall of more than $80 million over the same period. DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 5 January 25,2005 Mr. McFarland reported that the Government Accounting Standards Board (GASB) has recently issued a GASB statement requiring public entities to include in their financial statements the unfunded liabilities for health benefits of current and future retirees. Currently that figure is estimated at $181 million for the BWL. Amortizing the obligation over a 30-year period would result in an additional $5 million of annual expenses over the BWL's current health care costs. In reviewing strategic issues, it was pointed out that the financial outlook requires operating and productivity efficiencies and future revenue enhancements. Risk factors that impact the financial plan are: • Weather • General Motors Consumption • Environmental Regulations • Wholesale Power Prices • Inflation • Coal Prices • Interest Rates Following discussion, staff was directed to prepare alternatives to meet revenue requirements for discussion and deliberation at the next Committee of the Whole meeting to be held January 11, 2005. Strategic Plan General Manager Sandy Novick presented a draft Strategic Plan to help identify the key priorities of the BWL over the next three to five years. Identification of priorities and their endorsement by the Board of Commissioners will help BWL management and all employees to focus on the key elements of the mission of the organization and thus supports that mission. The proposed strategic plan provides broad direction in the areas of Customer Service, the goal of Operational Excellence, Financial Performance, People Excellence, and the impact BWL wants to make on the Quality of Life in this community. In developing the Strategic Plan, staff s work began with a review of the Vision Statement, first adopted in 1997, and continued with detailed discussion of the core values to be incorporated into daily decision-making. The Strategic Plan and Financial Plan, which along with the recently developed Balanced Scorecard, will provide the BWL with the vision, values, and dollars needed to guide the utility in the future. Mr. McFarland clarified that the Balanced Scorecard measures the critical performance metrics while the Strategic Plan lists the strategies and projects intended to improve the performance of the BWL. Mr. Novick noted that in discussing the overall strategic direction, executive staff rejected an approach that would promote the BWL's expansion into areas outside of core utility competencies. Instead, it was agreed to concentrate on services the BWL is chartered to provide and on fulfilling our mission with greater precision and effectiveness. DRAFT—Subject to Board Approval on 3122105 Page 6 Board Meeting January 25,2005 Following discussion, the Commissioners gave their support to the proposed strategic plan. Management will keep the Board regularly apprised of its efforts and progress in implementing these priorities. A series of meetings with employees will be conducted by General Manager Novick and his team to discuss how the financial and strategic plans will work together with the BWL's Balanced Scorecard. Board Travel Policy Resulting from recent concerns regarding meal reimbursement using nationally accepted limits of corporate expenditures for geographical areas where the BWL business is conducted, it was suggested that the Board's Travel Policy be amended to clarify this concern. On November 23, 2004, the Board approved a revised Travel Expense Policy. The purpose of the revised policy was to establish guidelines under which the Commissioners and Board staff appointees will be reimbursed for travel expenses incurred when engaged in authorized travel and who expend BWL funds for travel purposes. In an attempt to simplify the process of meal reimbursements, it was suggested to allow a flat daily maximum amount with documented costs. Following discussion, the Committee of the Whole voted as follows to recommend approval by the Board to amend the Travel Expense Policy. This item will be on the Agenda under Resolutions for the January 25th Board meeting: Voting Aye: Calkins, Callen, Duncan, Joseph,Rios, Smith, Wonch Voting Nay: None Absent: Haggart Michigan Public Power Agency and Midwest ISO Senior Vice President of Operations Bill Cook reported that implementation of Regional Transmission Organizations (RTO) accompanied by changing energy markets are altering how wholesale power will be bought and sold in the future. In the Midwest, the Midwest Independent System Operator (MISO) is the RTO impacting the BWL. Beginning in March 2005, the new MISO energy markets are scheduled to begin. This will represent significant changes in how wholesale power sales are transacted. Staff plans to bring forth a recommendation to the Board at the January 25th meeting proposing that the BWL submit its five-year notice to the Michigan Public Power Agency (MPPA) of its intention to leave the MPPA Power Pool Project. A full report will be made at the Board's Committee of the Whole meeting on January 1 lth with details regarding MPPA Power Pool operating issues. Ottawa Station The agenda topic with regard to the Ottawa Station was not discussed, as this item was held for discussion at the next Committee of the Whole meeting on January 11,2005. There being no further business, the Committee of the Whole adjourned at 8:37 p.m. DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 7 January 25,2005 Respectfully submitted, Ron Callen, Chair Pro Tern Motion by Commissioner Joseph, seconded by Commissioner Rios, to receive the report. Action: Carried unanimously. esoluhori'2005-1'-2 COMMITTEE OF THE WHOLE REPORT Present: Commissioners Callen, Calkins, Haggart, Joseph,Rios, Smith, and Wonch. Absent: Commissioner Duncan. A meeting of the Committee of the Whole of the Board of Water and Light was held at the Executive Offices, Lansing, beginning at 5:30 p.m., Tuesday, January 11, 2005. Continuation of Six-Year Financial Planning Discussion Sr. Vice-President of Finance Dennis McFarland resumed discussion from the last Committee of the Whole meeting held December 14, 2004 regarding moving from a financial forecast, which the Board started discussing last spring to a six-year financial plan to manage the BWL's operations. Using a series of charts, Mr. McFarland reviewed the base case forecast presented in July 2004 and most recently updated to reflect some recent events, which incorporates the effects of the labor contract, the new accounting and funding for post retirement benefits and health care benefits of current and future retirees, and additional capital for IT infrastructure and other minor items. As requested at the last Committee of the Whole meeting, various alternatives to meet revenue requirements were presented. A revised sheet replacing the copy included in the meeting packet of alternatives to meet revenue requirements was circulated. Mr. McFarland explained that the rate impact will vary between the electric, water, steam and chilled water utilities. Assuming no cross-subsidies, electric rate increases will be modest, water rate increases will be above the projected rate of inflation, and steam could face double-digit annual increases for the next five years. The original presentation called for even rate increases for electric, water and steam over five fiscal years beginning in FY 2005. Mr. McFarland presented two alternatives for evaluation by the Commissioners. Alternative 1 is based on a lump sum increase in FY 2007. Alternative 2 consists of equal increases in FY 2006, FY 2008 and FY 2010. (Commissioner Smith entered the meeting at 5:50 p.m.) (Commissioner Rios entered the meeting at 6:00 p.m.) There was lengthy dialogue with regard to the magnitude and timing of rate increases along with philosophical views on cost classification, cost allocation, rate design and cost containment/cost management. The Commissioners preferred reviewing rates every two years rather than even increases over five fiscal years. Phased-in rates are considered financially prudent and needed to DRAFT—Subject to Board Approval on 3122105 Page 8 Board Meeting January 25,2005 maintain the strength of the BWL and to move forward without committing to a long-range rate plan. The importance of educating the public well in advance on the rationale for the increases was discussed. The BWL has to demonstrate it has done everything it can to reduce costs,before going to the public with rate increases. (Commissioner Wonch left the meeting at 6:22 p.m.) The Committee of the Whole supported management's recommendation to proceed with the process of designing rates to implement increases for the electric, water and steam utilities based on the following rates and timetable: Proposed Rate Increases: Electric: 2.7% in July 2005 Water: 6.5%in October 2005 and 6.5%in October 2006 Steam: Approx. 33%in July 2005 Staff plans to return with additional information based on discussions held with respect to "what ifs" to translate them into final recommendations. A formal proposal will then follow with a recommendation to schedule a public hearing for public comment before rate increases are approved. MPPAJMISO Recommendation Sr. Vice President of Operations Bill Cook resumed discussion from the December 14, 2004 Committee of the Whole meeting with regard to BWL concerns with the Michigan Public Power Agency (MPPA) Power Pool. He reported that over the past year-and-a-half, in preparation for the changing wholesale power market, the BWL has expressed numerous concerns to the MPPA Power Pool and staff members associated with anticipated Pool operations, MPPA Pool contract administration, and preparation for the Midwest Independent System Operator's (MISO) new wholesale power market. Mr. Cook discussed the following concerns in detail: ■ New markets are increasingly more complex. ■ MPPA is too small to have or obtain the required skills and tools to effectively complete. ■ MPPA staff is moving the Pool toward a "black box" type of situation with respect to individual member understanding and oversight. ■ The Power Pool Contract pledges control of generation to MPPA. ■ The current path is taking MPPA down the road in which MPPA office staff performs most of the scheduling, dispatching and checkout and settlement duties. DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 9 January 25,2005 ■ MPPA leadership, communication and member involvement in preparation for the new MISO energy markets has been lacking. ■ It makes no sense for the MPPA Pool to dictate BWL unit operations involved in a sale to third parties. ■ The BWL is dramatically different from the other seven Power Pool members. ■ MPPA's MISO energy market implementation may result in the BWL being left with significantly higher costs, and reduced benefits from its resources. ■ Settlement under MISO energy markets will be a large task. ■ BWL dispatching related charges associated with the Power Pool for next year are estimated at$695,000. This constitutes 50% of the Pool costs. ■ The MPPA Power Pool Contract is based on capacity being sold at a "market rate" and energy being based on an average cost plus arrangement. ■ Over the past year-and-a-half, the BWL has expended considerable resources trying to reach a workable methodology with MPPA staff for future Pool operations. ■ Just as in the early 1990's when the MPPA Power Pool participants recognized the benefits of joining forces to create a larger organization for the benefit of all, BWL staff believes that as the market changes, the BWL and MPPA Power Pool must affiliate themselves with an organization of sufficient size that they can stay abreast of changes in the marketplace on a regional and national level. Mr. Cook reviewed the BWL's actions to date. He noted that BWL management has repeatedly expressed its views at monthly MPPA meetings. Multiple letters and e-mails have been written conveying the BWL's concerns. A proposed resolution was presented for discussion. This resolution is needed in preparation of giving notice to MPPA of the BWL's intention to terminate its participation in the Power Pool Project. Mr. Cook emphasized that this notice only involves the Power Pool. The BWL will remain in other projects at MPPA. He further stated that the BWL staff has been working with MPPA over the past year-and-a-half to resolve concerns over MPPA Power Pool changes being done to meet the changing wholesale electric market. The BWL is concerned over a perceived lack of leadership, planning, communication, technical skills and expertise as well as oversight demonstrated by the Pool in anticipation of the MISO-Midwest Market Initiative implementation. The BWL is working with MPPA staff and another member city to try to resolve its concerns for the next six months. If a successful resolution cannot be met, staff would begin discussion with MPPA on an expedited exit from the Power Pool. Following discussion, the Committee of the Whole voted as follows to recommend that the Board approve a resolution to terminate the BWL's relationship with the MPPA Power Pool DRAFT—Subject to Board Approval on 3122105 Page 10 Board Meeting January 25,2005 Project. This item will be on the Agenda under the General Manager's Recommendations for the January 251h Board meeting. Voting Aye: Callen, Calkins, Haggart, Joseph,Rios, Smith Voting Nay: None Absent: Duncan, Wonch (left the meeting at 6:22 p.m.) Defined Benefit Pension COLA Issue At the November 23, 2004 Board meeting, several retirees raised some issues related to retiree benefits and requested a clarification as to whether the Board of Commissioners resolved to periodically review retirees' pensions with the intention of making possible increases to Defined Benefit (DB) pension amounts. Based on this inquiry, the Commissioners requested that staff provide them with background information summarizing the history of pension changes and adjustments that may help clarify if any promises were made to the retirees. A report prepared by Human Resources Director Mary Dwyer, incorporated herein by reference, was presented with a chronology of activities regarding possible pension adjustments for DB retirees. Mr. Novick commented that a review of this matter is pending by the BWL's General Counsel Amy Cavanaugh on the legal perspective of whether the BWL is obligated to give a cost-of-living allowance to DB retirees. He noted that an interesting complication is Ms Dwyer's position that the union does not negotiate for retirees. Mr. Novick pointed out that a recent actuarial valuation report clearly indicates there was no commitment on an ongoing basis for the BWL to do anything; consequently, funding requirements were not factored in. Following a lengthy question and answer period, the Committee of the Whole voted as follows to recommend that the Board approve a resolution that authorizes management at its discretion to review and recommend changes to retirees' pensions to the Board of Commissioners for consideration. This item will be on the Agenda under Resolutions for the January 25th Board meeting. Voting Aye: Callen, Calkins,Haggart, Joseph, Rios, Smith Voting Nay: None Absent: Duncan, Wonch (left the meeting at 6:22 p.m.) Ottawa Station Update General Manager Sandy Novick updated the Commissioners on the potential development of the BWL Ottawa Station. Based on preliminary discussions that City and Board officials have had with representatives of the State of Michigan, it appears that the State is willing to explore the possibility of becoming an anchor tenant in the redeveloped Ottawa Station. If this redevelopment is successful, it would bring jobs, investment and commerce to Lansing's downtown riverfront. DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 11 January 25,2005 General Counsel Amy Cavanaugh distributed a draft resolution declaring a portion of the Ottawa Station as surplus. A formal resolution will be brought to the Board for action at the next meeting. She explained that the resolution is based on the following contingencies: ■ Reserving a portion of the building for the BWL chillers ■ Reserving utility easements and the riverfront property that is 25 ft. from the river has to be kept within the City's control by ordinance ■ Performing a three-dimensional survey, or a condominium survey, that would protect BWL interests listed in#1 and 2. The resolution would permit the BWL to offer the surplus portion of the building to the City of Lansing. The transfer details are yet to be resolved The Committee of the Whole voted as follows to recommend that the Board approve at its regular meeting on January 25, 2005 a resolution to declare a portion of the Ottawa Station as surplus. This item will be on the Agenda under the General Manager's Recommendations for the January 25th Board meeting. Voting Aye: Callen, Calkins,Haggart, Joseph, Rios, Smith Voting Nay: None Absent: Duncan, Wonch (left the meeting at 6:22 p.m) Triangle Property Update General Manager Sandy Novick reported that the developer of the Triangle property was unsuccessful in the lame duck session of the legislature in getting a lease proposal approved by the Joint Committee on Capital Outlay. The Triangle Project was a proposed new state building in downtown Lansing that would house a new Michigan State Police headquarters. Since the lease proposal with the State was not approved, the Committee of the Whole concurred with giving the developer of the Triangle property thirty days to achieve agreement on an amended contract. The developer will be requested to provide a non-refundable deposit of $100,000, which is 5% of the purchase price, to maintain their purchase option on the BWL property known as the Coal Storage Site, located at Grand and Shiawassee. At the end of the thirty days, if the non-refundable deposit is not paid, the BWL will give cancellation notice in accordance with the agreement with River Street Triangle, LLC and the property will go back on the market. Instructions for the General Manager will be formalized by resolution to be voted on at the January 25, 2005 Board meeting. Mr. Novick reported that he has met with the Mayor to make him aware that the Committee of the Whole is recommending to the Board that the BWL's agreement with River Street Triangle, LLC be amended. The City Council will also be advised of the proposed amendment. DRAFT—Subject to Board Approval on 3122105 Page 12 Board Meeting January 25,2005 The Committee of the Whole voted as follows to recommend that the Board approve at its next meeting a resolution to amend the BWL's agreement with River Street Triangle, LLC. This item will be on the Agenda under the General Manager's Recommendations for the January 25th Board meeting. Voting Aye: Callen, Calkins, Haggart, Joseph, Rios, Smith Voting Nay: None Absent: Duncan, Wonch (left the meeting at 6:22 p.m.) There being no further business,the Committee of the Whole adjourned at 7:45 p.m. Respectfully submitted, Ron Callen, Chair Pro Tem. Motion by Commissioner Callen, seconded by Commissioner Haggart, to receive the report. Action: Carried unanimously. MANAGER'S RECOMMENDATIONS Background materials on items presented are on file in the Office of the Corporate Secretary. esolution2005=1=3 A. MPPA POWER POOL TERMINA TION RESOL UTION WHEREAS, the Lansing Board of Water and Light (BWL) is a member of the Michigan Public Power Agency Power Pool (MPPA), and; WHEREAS, the electric wholesale market is and will be experiencing major changes in the near future, and; WHEREAS, the BWL staff is concerned that the MPPA Power Pool may not be large enough or have sufficient expertise and resources to effectively compete in these new markets, and; WHEREAS, MPPA's current implementation approach to meet these upcoming changes may result in higher costs, increased risk, decreased BWL participation in the managing of its assets, and; WHEREAS, BWL staff has been working with the MPPA Staff and other municipal Power Pool member cities to alter the MPPA Power Pool implementation,with limited success, and; WHEREAS, to exit the MPPA Power Pool a five-year advance notice is required. DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 13 January 25,2005 THEREFORE BE IT RESOLVED, That the General Manager is authorized to submit to MPPA, the Lansing Board of Water and Light's notice of its intention to terminate its relationship with the MPPA Power Pool Project. BE IT FURTHER RESOLVED, That staff will continue to work with the MPPA Power Pool for a period of six months from the date of this resolution to resolve its differences such that the BWL may remain a member, but following this period, staff will work with MPPA Pool members to effect an expedited exit from the Pool. Staff Remarks: This resolution is needed in preparation of giving notice to MPPA of the BWL's intention to terminate its participation in the Power Pool Project. Staff has been working with MPPA over the past year and a half to resolve concerns over MPPA Power Pool changes being done to meet the changing wholesale electric market. The BWL is concerned over a perceived lack of leadership, planning, communication, technical skills and expertise as well as oversight demonstrated by the Pool in anticipation of the Midwest Independent System Operation- Midwest Market Initiative implementation. The BWL is working with MPPA staff and another member city to try to resolve its concerns, but to date no progress has been made. It should be noted that this notice only involves the Power Pool. The BWL will remain in other projects at MPPA. Motion by Commissioner Joseph, seconded by Commissioner Callen, to approve the resolution. Discussion: Commissioner Callen commented that this is not an easy resolution to support, however, the Board has benefited from significant discussion with staff. Commissioner Smith concurred, adding that Director of Operations Bill Cook has taken a lot of time to lay out what this action means for the Board of Water and Light. Action: Carried unanimously. esolution2005-1 B. RESOLUTION TO CONDITIONALLY DECLARE A PORTION OF THE OTTAWA STREET STATION PROPERTY SURPLUS AND OFFER THAT PORTION OF THE PROPERTY TO THE CITY OF LANSING WHEREAS, the BWL, the City of Lansing, the Michigan Department of Labor and Economic Growth (DLEG) and the Michigan Economic Development Corporation (MEDC) have mutually agreed to explore options to redevelop the Ottawa Street Power Station(Power Station) property in Lansing as set forth in a Memorandum of Economic Development Process (Memorandum), attached hereto as Exhibit A; and WHEREAS, the Power Station property is legally described as follows: COMMENCING AT THE CENTER POST OF SEC. 16, T. 4 N., R. 2 W., NOW CITY OF LANSING, INGHAM COUNTY, MICHIGAN; THENCE ALONG THE EAST-WEST 1/4 LINE OF SEC. 16 N 890 59' 00" E 527.87 FT.; THENCE N 00' 01'45" W 330.00 FT. TO THE DRAFT—Subject to Board Approval on 3122105 Page 14 Board Meeting January 25,2005 N.W. CORNER OF BLOCK 99, ORIGINAL PLAT OF THE TOWN OF MICHIGAN, NOW CITY OF LANSING, AS RECORDED IN L. 2, PP. 36-38 OF INGHAM COUNTY PLATS, AND THE POINT OF BEGINNING; THENCE ALONG THE EAST LINE OF NORTH GRAND AVENUE N 00001'45" W 519.77 FT. TO A FOUND R.R. SPIKE ON THE CENTERLINE OF VACATED IONIA STREET; THENCE ALONG SAID CENTERLINE DUE EAST 67.07 FT.; THENCE S 00°05'02" E 151.16 FT.; THENCE S 89°58'55" E 244.01 FT.; THENCE N 01°08'14" W 303.91 FT.; THENCE N 17019'58" W 75.72 FT.; THENCE N 07000'36" W 173.29 FT.; THENCE N 45°00'36" W 56.87 FT. TO THE SOUTH LINE OF E. SHIAWASSEE STREET; THENCE ALONG SAID SOUTH STREET LINE S 89°58'00" E 36 FT., MORE OR LESS, TO THE WEST EDGE OF THE GRAND RIVER; THENCE SOUTHERLY ALONG THE WEST EDGE OF THE GRAND RIVER 990 FT., MORE OR LESS, TO THE SOUTH LINE OF VACATED E. OTTAWA STREET (THE NORTH LINE OF BLOCK 99 OF THE ORIGNAL PLAT OF LANSING); THENCE DUE WEST 204 FT., MORE OR LESS, ALONG THE NORTH LINE OF BLOCK 99 TO THE POINT OF BEGINNING, SUBJECT TO EASEMENTS, LICENSES AND RESTRICTIONS, AND CONTAINING 2.9673 ACRES OF LAND,MORE OR LESS. WHEREAS, the City of Lansing and MEDC will jointly issue a Request for Proposals to developers to re-develop the Power Station property in accordance with the Memorandum (the Project); and WHEREAS, the Project is intended to be mixed use, including office space for the State of Michigan; and WHEREAS, any accepted development plan for the Project is to include that the BWL will retain ownership and use of a portion of the Power Station property for utility purposes, including use for the chillers within the building and utility easements in the property outside the building, and that the City of Lansing or BWL retain at least the portion of the power station property within twenty-five (25) feet of the Grand River; and - RESOLVED, that subject to the conditions precedent in this Resolution, the Board declares the Power Station property surplus, except for the chillers, cooling towers and other appurtenances within the building and utility easements in the property outside the building, and offers to release jurisdiction of the surplus property to the City of Lansing. The conditions precedent are 1) the completion of a three-dimensional or condominium survey to identify and legally describe the interests the BWL and the City of Lansing will retain in the property, and 2) the execution of documents, such as a designation of condominium units and utility easements, maintaining an interest in a portion of the property for the BWL's uses. All property not identified in the documents describing property interests to be retained by the Board is designated"surplus." FURTHER RESOLVED, that the surplus property will be transferred at a future time to the jurisdiction of the City of Lansing if the City passes a resolution accepting city jurisdiction over the surplus portion of the Power Station for a mutually agreeable redevelopment project. Staff Remarks: The City of Lansing, in conjunction with the MEDC, has proposed a viable use of the Ottawa Street Power Station building that includes the State of Michigan as a tenant. An DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 15 January 25,2005 RFP will be issued to developers, who will be required to incorporate the BWL's current use of the building into their proposed design. Although Staff is still investigating the best way to protect the BWL's on-going interests in the property, a condominium arrangement seems likely. Before the RFP can be issued, however, the Board of Commissioners must designate the portion of the property not used for the chiller operations and other utilities as "surplus." This resolution leaves unresolved the decision whether the City of Lansing will accept jurisdiction over the surplus portion of the property or the surplus will be directly transferred to a developer with City Council approval. Motion by Commissioner Calkins, seconded by Commissioner Joseph, to approve the resolution. Action: Carried unanimously. b. esolution 2005`= =5 C. RESOLUTION TO REQUIRE PAYMENT OF NONREFUNDABLE OPTION FEE OR TO ISSUE NOTICE OF CANCELLATION FOR PURCHASE AGREEMENT REGARDING FORMER COAL STORAGE PROPERTY AT 312 NORTH GRAND ("TRIANGLE PROPERTY") WHEREAS, the BWL and River Street Triangle, LLC ("River Street") are parties to an agreement dated May 17, 2001 ("Agreement") whereby River Street agreed to purchase certain BWL property located at the corner of Shiawassee and North Grand Avenue in Lansing ("Property") for $1,997,070.00; and WHEREAS, the.agreement requires River Street to comply with certain conditions precedent, including the simultaneous purchase of property from the City of Lansing in the same vicinity; and WHEREAS, the agreement states that if River Street fails to meet the conditions precedents within thirty-six (36) months of the date of the agreement, the BWL may terminate by giving written notice to River Street. WHEREAS, forty-four (44) months have passed since the agreement was signed, but the conditions precedent have not been met. During those forty-four months, River Street has not paid any amount to restrict the BWL's ability to sell the Property; and WHEREAS, the Board believes that a non-refundable deposit is appropriate if River Street wants to continue to restrict the BWL's ability to sell the property. RESOLVED, that the Board authorizes the General Manager to amend the Agreement to allow the Agreement to continue through and including June 15, 2005 only if, by February 25, 2005, River Street 1) signs a mutually agreeable document to amend the agreement, and 2) pays the BWL the non-refundable sum of One Hundred Thousand Dollars ($100,000), which may be applied to the purchase price if River Street closes on the Property on or before June 15, 2005. DRAFT—Subject to Board Approval on 3122105 Page 16 Board Meeting January 25,2005 FURTHER RESOLVED, that if River Street does not 1) sign a mutually agreeable document to amend the Agreement, and 2) pay the BWL $100,000 by February 25, 2005, the Board gives the General Manager authority to give written notice of termination to River Street. Sta Remarks: Since May 2001, the Board's property located at the corner of Shiawassee and North Grand Avenue in Lansing has been subject to an Agreement with River Street, giving that developer the right to purchase the property. River Street did not pay for that right. According to the terms of the Agreement, the BWL now has the ability to terminate. Although Staff still believes that development of the parcel would be beneficial both for the BWL and the City of Lansing, they also believe that it is inappropriate to allow the developer to continue to restrict sale and development of the property without the payment of an option fee. Therefore, Staff recommends giving the developer the opportunity to amend the Agreement and agree to pay the BWL an option fee of $100,000. If River Street elects not to amend the agreement, Staff recommends that the BWL terminate the Agreement. Motion by Commissioner Callen, seconded by Commissioner Joseph, to approve the resolution. Action: Carried unanimously. (Commissioner Wonch entered the room at 6:00 p.m.) UNFINISHED BUSINESS No unfinished business NEW BUSINESS No new business. RESOLUTIONS BY THE COMMITTEE OF THE WHOLE RESOLUTION TO AMEND TRAVEL EXPENSE POLICY WHEREAS, by Resolution No. 2004-11-10, adopted November 23, 2004, the Board of Commissioners approved a Travel Expense Policy for Commissioners and a Travel Expense Policy for Board Appointees. RESOLVED, That the meal section of the Travel Expense Policy for the Board of Commissioners and the Board staff appointees be amended as follows: DRAFT—Subject to Board Approval on 3122105 Board Meeting Page 17 January 25,2005 Reimbursement will be made based on actual documented costs, but will not exceed nat-ienall aeeepted lifnits of eer-per-ate expendittffes for- geegyaphieal areas where the Board of Water and Light business is eendu A MAXIMUM DAILY AMOUNT OF $70.00 WITH RECEIPTS. RESOLVED FURTHER, That the Travel Expense Policy is subject to annual review and adjustment as recommended by the Internal Auditor. Motion by Commissioner Wonch, seconded by Commissioner Rios, on the approval of the resolution. Discussion: Commissioner Joseph proposed two friendly amendments to the Travel Policy for the Commissioners and Board Appointees as follows: 1. That the meal section of the policy be amended by striking the amount of $70.00 and inserting the amount of$50.00. 2. That the second bullet in the Transportation section of the Travel Expense Policy be amended as follows: (inserted words in cads and words to strike out indicated by striketbrough) Rental car will be reimbursed UP TO THE COST OF A mid-size automobile or smaller ONLY IF TAXIS OR OTHER MEANS OF TRANSPORTATION ARE LESS ECONOMICAL OR OTHERWISE IMPRACTICAL. C it o f t " t b -b `' r as eeffieAi tom-wheel drive . JUSTIFICATION FOR A RENTAL CAR SHOULD BE INCLUDED ON THE TRAVEL FORM. Motion by Commissioner Wonch, seconded by Commissioner Rios,to accept the friendly amendment as proposed by Commissioner Joseph. Discussion: It was noted that the Commissioners subsequently learned that access to a published index from a private company would cost in excess of a thousand dollars a year, an amount they agreed was excessive. Commissioner Smith noted that the amendments to the policy would follow the City of Lansing's allowances for meals and automobiles. Commissioner Wonch noted that with the BWL's continued need for belt-tightening measures,the Commissioners should follow suit. Action: Carried unanimously. DRAFT—Subject to Board Approval on 3122105 Page 18 Board Meeting January 25,2005 Chairperson Smith read the resolution as amended: SOLUTION NO. 2005=1 [RESOLUTION...... ........ ........... . AMENDED RESOLUTION TO AMEND RESOLUTION NO. 2004-11-10 REGARDING TRAVEL EXPENSE POLICY FOR COMMISSIONERS AND BOARD APPOINTEES WHEREAS, by Resolution No. 2004-11-10, adopted November 23, 2004, the Board of Commissioners approved a Travel Expense Policy for Commissioners and a Travel Expense Policy for Board Appointees. RESOLVED, That the meal section of the Travel Expense Policy for the Board of Commissioners and the Board staff appointees be amended as follows: Reimbursement will be made based on actual documented costs, but will not exceed a maximum daily amount of$50.00 with receipts. That the second bullet in the Transportation section of the Travel Expense Policy be amended as follows: Rental car will be reimbursed up to the cost of a mid-size automobile or smaller only if taxis or other means of transportation are less economical or otherwise impractical. Justification for a rental car should be included on the travel form. RESOLVED FURTHER, That the Travel Expense Policies for the Commissioners and Board Appointees, as amended and appended to the minutes (Exhibit 1 and Exhibit 2), are subject to annual review and adjustment as recommended by the Internal Auditor. Motion by Commissioner Wonch, seconded by Commissioner Rios, to accept Resolution 2005- 1-6 (Amended Resolution to Amend Resolution No. 2004-11-10 Regarding Travel Expense Policy for Commissioners and Board Appointees). Action: Carried unanimously. BY THE COMMITTEE OF THE WHOLE ABLED ITE RESOLUTION REGARDING THE PROCESS OF RECOMMENDING CHANGES TO RETIREES' PENSIONS WHEREAS, on January 11, 2005, the Committee of the Whole reviewed a summary prepared by Human Resources regarding retirees' pension adjustments. The summary provided a history of previous pension plan adjustments and other considerations, and DRAFT—Subject to Board Approval on 3122105 Page 19 Board Meeting January 25,2005 WHEREAS, this background information was requested by the Commissioners as a result of a question raised by several retirees at the November 23, 2004 Board meeting as to whether the Board of Commissioners resolved to periodically review retirees' pensions. RESOLVED, That BWL management may, in its discretion, review and/or recommend changes to retirees' pensions to the Board of Commissioners. Moved by Commissioner Calkins, seconded by Commissioner Wonch on the approval of the resolution. Discussion: There was in depth discussion regarding the letter received from the BWL Retirees' Club Pension and Benefits Committee, dated January 18, 2005. The issue in question is whether the Board of Commissioners resolved to periodically review retirees' pensions with the intention of making possible increases to those pension amounts, based on a Personnel Committee Report, dated November 25, 1996, which included an attachment on pension settlement issues. At a January 11, 2005 Committee of the Whole meeting, the Commissioners discussed this issue at some length. Subsequent to that meeting, the retiree committee responded by letter and e-mail with additional facts presented to the Board. The retirees noted that a cost-of-living adjustment was given in 2001 to retirees in the Defined Benefit Pension Plan. Some Commissioners were concerned that there continues to be some doubt as to whether the IBEW can negotiate for pensioners and the intent of Resolution No. 96-11-8 from the November 25, 1996 Personnel Committee Report. General Manager Novick noted that even if the Commissioners believe a commitment was made, the commitment was to either adjust retiree pensions or to maintain their status quo. He further noted that in a 1996 actuarial report, the actuary indicated that automatic cost-of-living adjustments are rare in private retirement plans, but more common in public plans. The report also states that many private and public plans provide periodic increases to pensioners,but have no specific requirement to do so. In a current actuarial report, dated July 7, 2004, the actuary indicated that cost-of-living adjustments were not assumed in liability computations. Following discussion, there was consensus among the Commissioners that given the seriousness of this issue, it should be given due consideration by the Board. The Commissioners requested additional information from staff to be better informed on the questions raised prior to taking action on this matter. Moved by Commissioner Rios, seconded by Commissioner Wonch to table the pending resolution for further study and discussion with staff and the Internal Auditor. Action: Carried unanimously. Chairperson Smith referred this matter to the Human Resources Committee for review and recommendation. Among questions to be discussed are: (1) Can the IBEW negotiate for pensioners? (2) Was a commitment made to review pensions every three years to evaluate the DRAFT—Subject to Board Approval on 3122105 Page 20 Board Meeting January 25,2005 feasibility of an increase? (3) Where would the funds for cost-of-living increases come from: the DB Pension Fund or the BWL general fund? She requested that a notice be sent to the Retirees' Committee when the meeting notice is posted. Commissioner Callen suggested for convenience, that the Retirees' Committee might wish to designate a representative to attend the meeting. GENERAL MANAGER'S REMARKS Financial Report. Senior Vice President of Finance Dennis McFarland reviewed the financial report for the fiscal year-to-date ended December 31, 2004. He reported that results through December have been less than satisfactory due to overruns on the operating budget, weather conditions, lower than anticipated wholesale pricing, and balance sheet adjustments. Based on six-month results and pending items that are likely to be realized before year-end, the best estimate of income for fiscal year 2005 is $3 million. This represents a decrease of$2.0 million from the prior estimate of $5.0 million. The single biggest reason for the decrease is the elimination of the $1.5 million gain on the sale of the Grand Avenue property from the estimate. The other major reason for the decrease is increased maintenance expense at the Erickson Station. These expenses relate to the conversation of Erickson to western coal and future expenses may also be incurred. Other items that have negatively, caused variance in operating income include lower than projected water sales due to weather and the union contract settlement. Financial Planning Update. Mr. McFarland asked the Commissioners for input on the tentative rate case scenario and discussed the following assumptions: ■ Electric: 2.7%increases July 2005, July 2007 and July 2009. • Water: 6.5% annually on September 1, 2005 to 2010. • Steam: 33% increases July 2005, July 2007 and July 2009. • Chilled Water: No increase. ■ General Motors: Assumes Plants 1, 3 and 6 closings, fiscal 2008. • Overhead Allocation: Includes revised allocation of Administrative and General Costs between utilities (no cross subsidization). Mr. McFarland also reviewed the following reports: ■ Net Income and Cash Projection(including rate increases). • Credit Statistics. ■ Financial Sensitivities relative to employee count, weather, wholesale electric prices, inflation, and GM plant closings. ■ Comparison of revenue by utility of fiscal years 2005 and 2010 and operating expenses (excluding fuel and purchased power) for labor, all other (including benefits) and retiree health care for fiscal years 2005 and 2010. ■ Health Care Costs, assuming various levels of increase and potential savings through premium sharing for active employees and retirees. DRAFT—Subject to Board Approval on 3/22105 Board Meeting Page 21 January 25,2005 Hometown Balanced Scorecard. General Manager Novick presented the results of the balanced scorecard for the first half of the fiscal year. He noted that the BWL is meeting its scorecard objectives in five of 16 performance measures, and prospects are at least reasonable that eight or nine measures could be met by the end of the fiscal year June 30`h. He reviewed the status of the performance measures in the areas of Financial Performance, Customer Service, Operational Excellence and People Excellence. The Commissioners discussed the important role safety plays on the overall success of the BWL. Mr. Novick emphasized that a key objective of the BWL is to achieve superior safety performance. Commissioner Callen noted that that the scorecard seems focused on the electric side of the utility. Mr. Novick responded that this is management's first attempt with the scorecard and gave assurance that improvements are being made along the way. He acknowledged that the BWL does need to focus on the Water Utility. COMMISSIONERS' COMMENTS Commissioners Joseph requested information regarding the consulting agreement the Board has with former Internal Auditor Kellie Willson. Commissioner Rios suggested referring this matter to a committee for review and to assure appropriate policies are in place to protect BWL records. Chairperson Smith referred this item to the Human Resources Committee for review and a report back to the Board. Commissioner Wonch thanked General Manager Sandy Novick and Sr. Vice President of Finance Dennis McFarland for providing understandable information on financial performance updates and the Balanced Scorecard. This has been extremely helpful. Commissioner Callen noted that Kellie Willson was deeply involved in several significant issues at the BWL prior to her retirement. The Board has benefited by her services and expertise during this transitional period by entering into a consultant agreement with Ms. Willson following her retirement on April 9, 2004. Commissioner Callen also stated that the balanced scorecard is an important element to improve corporate efficiencies. Commissioner Rios remarked that in reading the notes taken of General Manager Novick's recent breakfast meeting with employees, it is apparent there are many issues. He commended management for introducing the balanced scorecard to measure the overall organization performance and its relationship to the strategic plan. He added that everyone needs to have a certain level of commitment to meet our objectives and at times some leeway must be given to make things work. He further noted that it is clear that a lot of things cannot continue in the same way. He asked that we all try to assume some of the responsibility as we enter this era of change. Commissioner Smith thanked General Manager Novick and Sr. Vice President of Finance McFarland for their responsiveness to pending issues. She also thanked General Counsel Amy Cavanaugh for her prompt response to management and the Board. DRAFT—Subject to Board Approval on 3122105 Page 22 Board Meeting January 25,2005 ABSENCES On motion by Commissioner Haggart and seconded by Commissioner Calkins, that the absence of Commissioner Duncan be excused. Carried unanimously. PUBLIC COMMENTS Retiree Committee member Max Zemer thanked the Board for postponing their vote on the resolution regarding the process of recommending changes to retiree pensions. He reminded the Board that members of the retiree committee are available to provide information. He said that a few members of their committee are available to meet with any of the Commissioners. He asked that his committee be notified as to when the Human Resources Committee will meet. In response to Commissioner Joseph's inquiry, Mr. Zemer stated that pension settlement issues were negotiated between the IBEW and management. He opined that to overturn the Board's November 25, 1996 decision to review pension benefits every three years, it would require a separate proposal to remove it from the agreement. Mr. Zemer stated he is aware that a grievance is pending on the retiree pension matter. Ron Byrnes thanked the Commissioners for their commitment to look at the facts. He clarified that the issue is about commitments made to past retirees. He noted that pension amounts have been compared with changes in the cost of living and Commissioners have routinely granted increases to pensioners. Mr. Byrnes urged the Board to honor those commitments. He pointed out that the essential fact remains that the Defined Benefit (DB) Pension Plan continues to be significantly over-funded, thus the BWL would not have to appropriate from its general operating funds. General Manager Novick pointed out that excess funds in the DB Pension Plan are ratepayers' dollars that would come out of their pockets. He emphasized that cost of living increases to pensioners would impact the rates. ADJOURNMENT On motion by Commissioner Joseph, seconded by Commissioner Rios, the meeting adjourned at 7:37 p.m. /s/Mary E. Sova, Secretary Draft Filed with Lansing City Clerk February 3, 2005 DRAFT—Subject to Board Approval on 3122105 EXHIBIT 1 Policy Name: Travel Expense-Commissioners Policy Number: C WATER&LIGHT Scope: Board of Water& Light—Board of Commissioners Replaces Resolution No.: 2004-11-10 NoEffective Date: January 26, 2005 . Responsible Agent:: Board of Commissioners Review/Revision Date(s): January 25, 2005 (Resolution No. 2005-1-6) Objective Due to the complex and changing environment, it is essential for Commissioners to be well informed on issues of importance to the utility industry. Commissioners are encouraged to attend seminars, meetings, or other programs that provide information impacting the operations of the Board of Water and Light. Scope This policy shall apply to all Board of Water and Light Commissioners.The Board of Water and Light will pay or reimburse expenses as outlined below. Registration fees or similar expenses for training, meetings, conferences or seminars will be Registration Fees reimbursed. If the Commissioner brings a guest, registration fees for guest programs will also be reimbursed. Lodging Actual expenses of lodging will be reimbursed. In the event a Commissioner is accompanied by a guest or family members, the Board of Water and Light will only reimburse at the single room rate. Many hotels offer discounts to non-profit and/or governmental agencies. When making lodging arrangements this discount should be requested. Transportation • Commercial airline or rail travel will be reimbursed for coach class seating. • Rental car will be reimbursed up to the cost of a mid-size automobile or smaller only if taxis or other means of transportation are less economical or otherwise impractical. Justification for a rental car should be included on the travel form. • Taxi, bus, or shuttle costs will be reimbursed. • Airport and garage parking for vehicles will be reimbursed. • Personal autos used for business will be reimbursed at the IRS mileage rate, not to exceed the applicable coach rate airfare for a distant trip. Meals Reimbursement will be made based on actual documented costs, but will not exceed a maximum daily amount of$50.00 with receipts. Non-Reimbursed The Board of Water and Light will not reimburse the following expense: Expenses • Personal expenses not associated with Board of Water and Light business. •Alcoholic beverages. • Guest travel expenses (Board of Water and Light will only reimburse guest program registration fees). Substantiation Receipts should be obtained and submitted, whenever possible. Expenses greater than $50 per Requirements day will not be reimbursed without an original receipt. Miscellaneous expenditures (gratuities, parking, baggage handling, etc.) without receipts will be reimbursed up to the $50 per day maximum, but the location, date and a description of the expenditure must be documented. All expenses must be summarized on a travel form,with original receipts or descriptions attached to substantiate the expenses, and submitted for review and approval. Commissioners must submit a travel form with substantiation to the Corporate Secretary for Approvals review, who will then forward to the Board's Chair for approval. The Board's Chair will submit his/her own travel expenses on a travel form with substantiation to the Corporate Secretary for review, who will then forward to the Board's Vice Chair for approval. The designated approval person is responsible for obtaining additional information and for disallowing any expense that does not meet the requirements of this policy. Travel forms and all substantiation will be sent to General Accounting for processing and filing. This Travel Policy is subject to annual review and adjustment as recommended by the Internal Auditor. EXHIBIT 2 Policy Name: Travel Expense—Board Appointees Policy Number: BA WATE Scope: Direct Reports to the Board of Commissioners Replaces Policy Number: 2004-11-10 RMEffective Date: January 26, 2005 . Responsible Agent: General Manager and the Board Chairperson Review/Revision Date(s): January 25, 2005 (Resolution No. 2005-1-6) Objective Travel by Board appointees is necessary and beneficial for Board of Water and Light business. This policy shall apply to the following Board appointees: the General Manager, Internal Scope Auditor, and Corporate Secretary. The Board of Water and Light will pay or reimburse expenses as outlined below. Registration fees or similar expenses for training, meetings, conferences or seminars will be Registration Fees reimbursed. If a Board appointee brings a guest, registration fees for guest programs will also be reimbursed. Lodging Actual expenses of lodging will be reimbursed. In the event a Board appointee is accompanied by a guest or family members, the Board of Water and Light will only reimburse the single room rate. Many hotels offer discounts to non-profit and/or governmental agencies. When making lodging arrangements this discount should be requested. Transportation • Commercial airline or rail travel will be reimbursed for coach class seating. • Rental car will be reimbursed up to the cost of a mid-size automobile or smaller only if taxis or other means of transportation are less economical or otherwise impractical. Justification for a rental car should be included on the travel form. •Taxi, bus, or shuttle costs will be reimbursed. • Airport and garage parking for vehicles will be reimbursed. • Personal autos used for business will be reimbursed at the IRS mileage rate, not to exceed the applicable coach rate airfare for a distant trip. Reimbursement will be made based on actual documented costs,but will not exceed a Meals maximum daily amount of$50.00 with receipts. Non-Reimbursed The Board of Water and Light will not reimburse the following expense: Expenses • Personal expenses not associated with Board of Water and Light business. • Alcoholic beverages. • Guest travel expenses (Board of W ater and Light will only reimburse guest program registration fees). Substantiation Receipts should be obtained and submitted, whenever possible. Expenses greater than $50 Requirements per day will not be reimbursed without an original receipt. Miscellaneous expenditures (gratuities, parking, baggage handling, etc.) without receipts will be reimbursed up to the $50 per day maximum, but the location, date and a description of the expenditure must be documented. All expenses should be summarized on a travel form,with original receipts or descriptions attached to substantiate the expenses, and submitted for review and approval. Approvals The General Manager must submit a travel form with substantiation to the Board's Chair for approval. The Internal Auditor and Corporate Secretary must submit travel forms with substantiation to the General Manager for approval. The designated approval person is responsible for obtaining additional information and for disallowing any expense that does not meet the requirements of this policy. Travel forms and all substantiation will be sent to General Accounting for processing and filing. This Travel Policy is subject to annual review and adjustment as recommended by the Internal Auditor. Waiver Requirements of this policy may not be waived or overridden, except by Board resolution. Page 54 PRELIMINARY—SUBJECT TO BOARD APPROVAL ONSEPTEMBER 28, 2004 MINUTES OF THE BOARD OF COMMISSIONERS' MEETING LANSING BOARD OF WATER AND LIGHT Tuesday, July 27, 2004 The Board of Commissioners met in the Boardroom of the Administrative Offices, 1232 Haco Drive, Lansing, Michigan. Present: Commissioners Gary L. Calkins, Ronald C. Callen, Nancy W. Duncan, Tim Haggart, Santiago Rios, and Robin M. Smith. Absent: Commissioners Ifield P. Joseph, and Nancy Wonch The Secretary declared a quorum present. Chairman Callen called the meeting to order at 5:40 p.m. He announced that the Board's Rules of Administrative Procedure specify that the Board shall organize each year at its first regularly scheduled meeting in July by electing a Chair, Vice Chair and Chair Pro Tem. He called for the report of the Nominating Committee. esolution 2004-7-1 NOMINATING COMMITTEE REPORT Commissioners Present: Tim Haggart, Robin Smith, and Nancy Wonch (Chair) Absent was Commissioner Nancy Duncan. The Nominating Committee met on June 30, 2004 at 12 Noon to review Commissioner survey responses for consideration of nominations for Board officers. The Nominating Committee recommends the following slate of officer candidates for Fiscal Year 2004-05: Chair: Robin Smith Vice Chair: Nancy Duncan Chair Pro Tem: Ron Callen There being no further business, the meeting adjourned at 12: 35 p.m. Respectfully submitted, NOMINATING COMMITTEE Nancy Wonch, Chair 55 Board Meeting July 27,2004 Motion by Commissioner Callen, seconded by Commissioner Rios, to approve the report as presented. Action: Carried unanimously. Motion by Commissioner Calkins, seconded by Commissioner Haggart, to approve the new slate of officers for Fiscal Year 2004-05. Action: Carried unanimously. Commissioner Callen congratulated Chair-elect Smith on her election and passed the gavel to her. Chair Smith made the following remarks: I want to thank my colleagues for the vote of confidence. I look forward to working with all of you. I also look forward to working with our General Manager Sandy Novick and his team for this fiscal year and, most importantly, the ratepayers in this community. There are many challenges and challenging issues we face right now in the utility industry as well as at the Board of Water and Light. I look forward to providing superior utility services to our customers while maintaining stable rates. The fulfillment of this responsibility to our customers requires prudent planning as well as investment. The Lansing community is a great place to live. I was born.and raised here. I'm pleased to have the opportunity to serve as Chair of this Board and I thank Commissioner Ron Callen, the outgoing chair for the many times I've drawn on his wisdom, his expertise and experience; and I'm sure in the days to come, I will continue to do so. Thank you. APPROVAL OF MINUTES Motion by Commissioner Callen, seconded by Commissioner Haggart, to approve the minutes of the regular Board meeting held May 25, 2004. Carried unanimously. PUBLIC COMMENTS THE CHAIR ANNOUNCED THAT MEMBERS OF THE PUBLIC ARE WELCOME TO SPEAK TO THE BOARD ON ANY AGENDA SUBJECT OR ON ANY OTHER SUBJECT NOW, OR AT THE END OF THE MEETING. James Clift, Policy Director of the Michigan Environmental Council (MEC), spoke on the subject of lead service pipes going to homes in Lansing and handed out a letter from MEC regarding this issue. Mr. Clift thanked the Board and management for holding educational open houses to provide information about lead in drinking water. He presented a summary of MEC's four recommendations on how the BWL may want to proceed on the lead issue: (1)Testing: Publicize how schools are currently testing water systems in Lansing to insure children are not DRAFT—Subject to Board Approval on 9128104 56 Board Meeting July 27,2004 being exposed to lead while attending school; pay for water tests for any household with lead service lines that requests to be tested; and work with the Ingham County Health Department to provide a free blood test for any child less than six who is exhibiting symptoms that could be related to elevated lead levels.. (2) Public Education: Expand the public education campaign to include information related to health problems related to elevated lead levels in the body. (3) Protecting At-Risk Populations: The lead pipe replacement process should be accelerated to complete replacement over five years as opposed to the proposed ten years. (4) Get the Lead Out: Come together as a community effort to "Stand Up for Lansing — Get the Lead Out." A multi-faceted campaign is proposed that would combine the efforts of the City of Lansing, the BWL, Ingham County Health Department, housing advocates and community groups in a campaign to reduce lead exposure by replacing lead pipes and insuring lead paint hazards are minimized. Mr. Clift concluded his remarks by offering to work with the BWL on the lead issue. Joan Bauer, President of the Lansing City Council, thanked the Commissioners and staff for attending the joint meeting with the City Council members this morning. Issues of mutual interest to the City Council and the BWL were discussed ranging from lead in drinking water and tree trimming. Councilmember Bauer echoed James Clift's sentiments that we need to come together as a community to reduce lead exposure, whether it is hazards from lead paint or lead water services. She also supported Mr. Clift's proposal to combine the efforts of the City, the BWL, and the State in a campaign to address the lead issue. Councilmember Bauer thanked Commissioner Ron Callen for his past service as Board Chair, and congratulated Commissioner Smith in her endeavor as the new Board Chair. She expressed her gratitude to all the Commissioners for volunteering their services on the Board to represent citizens for the common goal of providing a safe water supply, reliable electric service and low rates for all customers. COMMUNICATIONS There were no communications. COMMITTEE REPORTS esolution 2004-7= COMMITTEE OF THE WHOLE REPORT Present: Commissioners Calkins, Callen, Duncan, Haggart, Rios, (arrived 5:45) Smith and Wonch. Absent: Commissioner Joseph The Committee of the Whole met on July 8, 2004 at 5:30 p.m. to discuss the following items: 1. May Financials 2. Six-Year Financial Forecast 3. Lead Task Force Report 4. Motor Wheel Disposal Site 5. Delta Township Wholesale Water Contract 6. Traffic Signal Maintenance Agreement with MDOT 7. Ethics Procedure Changes DRAFT—Subject to Board Approval on 9128104 57 Board Meeting July 27,2004 8. Silver Bells Sponsorship Renewal 9. 312 N. Grand Avenue Property 10. Selection Process for Director of Internal Audit 11. Closed Meeting: Update on Union Negotiations There were no comments made by the public at the meeting. May Financials. Senior Vice President of Finance and Administration Dennis McFarland introduced Ms. Sue Sperry, Manager of Finance and Planning and recognized the efforts she is making in that area. Mr. McFarland updated the Committee on the May Financial Report. He reported that for the first time this fiscal year, operating income had fallen slightly below budgeted levels. He explained that May is typically a "shoulder" month for the BWL, since it does not produce significant heating or cooling temperatures to generate revenues. Because of this, a net loss of just under $1 million had been budgeted for the month of May. Unfortunately, when the actual numbers came in for May, the loss for the month was approximately $3 million dollars, most of which could be attributed to the Electric Utility. Mr. McFarland identified those items accounting for the variance between Budgeted and Actual Operating Income which included unanticipated maintenance costs at Erickson Station, lower than anticipated net electric retail revenue and lower than anticipated $/MWH received for wholesale electric sales. Mr. McFarland also described several pending items which will most likely affect FY04 net income which included Ottawa Station write down, and Environmental Emission Allowances/Liabilities. Commissioner Rios Introduced. General Manager Sanford Novick introduced Santiago Rios, the new Board Commissioner. Mr. Rios is an attorney and has an extensive managerial background. He welcomed Mr. Rios and stated that a tour of BWL facilities will be arranged in the near future. Six-Year Financial Forecast. The Six Year Financial Forecast was presented by Senior Vice President of Finance Dennis McFarland. Mr. McFarland emphasized that the forecast did not represent a Financial Plan but consisted of a base case scenario including known events and an extrapolation of current trends. He explained that this information was being presented to lay the groundwork for financial and strategic decision making to follow. Mr. McFarland explained the major assumptions used in the forecast which included modest retail sales growth rates, anticipated General Motors (GM) plant closings, no rate increases, O & M annual increases of 2.5% and no new bond issues. A Forecasted Income Statement was presented which showed a slight net loss beginning in Fiscal Year 2007 and a total net loss of—$32 million for the six year period of 2005 — 2010. The forecasted Cash Flow statement showed annual cash deficits for each of the six fiscal years for a total deficit of—$66 million for the period. Mr. McFarland explained that the BWL was fortunate to begin the period with strong cash reserves since even in this base case scenario, the BWL would end the period with positive cash balances. Much discussion followed on individual Utility positions during the period, as well as cash reserve funds currently held by the Michigan Public Power Agency (MPPA). Mr. McFarland concluded the presentation by describing several open issues including the definition of "Financially DRAFT—Subject to Board Approval on 9128104 Board Meeting 58 July 27,2004 Independent Utilities," timing of water rate increases, timing of steam rate adjustments and the integration of strategic initiatives. It was determined that a six-month time frame would be reasonable for staff to develop further strategies on the six-year forecast and return to the Committee with a recommended financial plan. Lead Task Force Report. General Manager Sanford Novick reiterated that he had previously discussed his concern about lead water services with the Board. He reported that BWL is in compliance with all state and Federal regulations for drinking water safety, but currently is not doing enough with this issue. He noted that BWL needs to be more proactive and aggressive. An article is anticipated to appear in Sunday's, July 1lth LANSING STATE JOURNAL telling the public about the BWL's 14,000 lead services. Annually the BWL has informed customers about issues with lead in drinking water. The BWL is in compliance, and is not required to replace the lead services. Director of Special Projects Clyde Dugan presented the Lead Task Force recommendations on implementing the accelerated lead replacement program. Mr. Dugan pointed out that there are many sources of lead. The BWL has determined that there is no detectable lead in the water supplied to our mains and no significant sources of lead in the distribution system. Water service lines from the street to homes can be made of numerous materials or combinations of materials that contain lead. The BWL is regulated under the Safe Drinking Water Act and maintains less than 15 parts per billion (ppb) of lead in at least 90% of samples taken from customer taps. The BWL is required to notify all customers annually on ways they can minimize their exposure to lead in the drinking water. The Task Force recommends a corrosion control program, and formal service replacement program. Service replacement priorities are: • Any lead service that is physically disturbed by such things as dig-ins, excavations, or repair. • Services supplying schools, day care centers, or other identified sensitive populations as defined by the USEPA. • Services where there are sample results in excess of 15 ppb. • Services in work zones of CSO replacement or street restorations minimizing negative impact on customers. • Multiple services within a compact area (cost containment). • Length of lead pipe present in the service line. Mr. Dugan reported that previously, BWL was replacing between 300-400 lead services per year. Many of the services are in the CSO area and if the schedule for CSO is set, the changes will be made when that project is being done rather that disrupting customer services more than once. In already completed CSO projects, lead services have been replaced. For Fiscal Year 2005, the BWL will: • continue with current replacement practices • develop a schedule and procedures for accelerated replacement program • assign a lead engineer to oversee replacement program • develop an RFP for contractor assistance to meet the FY 05 schedule DRAFT—Subject to Board Approval on 9128104 59 Board Meeting July 27,2004 For the future, the BWL will: • evaluate the most cost-effective means for service replacement using BLW forces and/or contractors • develop a schedule and procedures for FY 06 and beyond If there are sensitive populations, the BWL will try to replace them during the first year. The BWL needs to communicate to the consumer what they can do to protect themselves from the danger of lead. Education and communication are being worked on. The BWL realizes this will be a public relations issue. The BWL would like the approval of the Commissioners to start with $2.5M per year whether that is 15 years or 10 years. The cost to replace the lead services is expected to be over $30 million. Staff will report back to the Board in six months with the status of the project. At that point it will be determined if more money needs to be budgeted for the project. The task force recommendation was replacing all lead pipes in 15 years and Commissioners chose to accelerate the program and replace all of the lead services owned by the BWL within ten years. Motion by Commissioner Calkins, seconded by Commissioner Duncan that this be voted on at the Board meeting on July 27, 2004. Discussion was held as to whether BWL forces or contractors would perform the work. Staff will cost the project being performed by BWL employees versus contractors. The BWL is currently not staffed to do this kind of work; and, in addition, equipment will have to be purchased. Information will be placed on the BWL website regarding issues with lead in drinking water. Motor Wheel Disposal Site. General Manager Sanford Novick updated the Commissioners on the Motor Wheel Disposal Site. He reported that nothing has changed at the site. Reporting requirements have changed and Goodyear is going to have to start publicly reporting something that has been in existence for quite awhile. It does not affect the BWL water supply. Neither the BWL nor Goodyear will have to do anything differently. Goodyear is very committed to cleaning up the site. Their remediation is successful. Delta Township Wholesale Water Contract. General Manager Sanford Novick reported on the Delta Township Wholesale Water Contract. A meeting is scheduled with the township on July 15, 2004 and the BWL is continuing to work with the township. The BWL is trying to renegotiate the contract and wants to continue the good relationship with Delta Township and we are working on this issue. Traffic Signal Maintenance Agreement with MDOT. Senior Vice President of Operations Bill Cook reported that the BWL provides traffic signal maintenance for local political jurisdictions. There is a contract with the Michigan Department of Transportation (MDOT) covering 148 intersections. The BWL provides energy, traffic control devices, personnel and equipment to perform maintenance on the signals. The contract has expired and is currently in effect month-to-month. Staff recommends a new agreement with the same provisions with MDOT for five years with a 90-day cancellation notice by either party. MDOT values this maintenance service at about $800,000 for five years. Traffic signals are shared by various entities. A resolution to enter into a Traffic Signal Maintenance Agreement with MDOT will be brought forth at the July 27, 2004 Board meeting. DRAFT—Subject to Board Approval on 9128104 60 Board Meeting July 27, 2004 WL will Ethics Procedure Changes. General Manager Sanford h Novick ero reported that the B tolerance directive, which has comply with the Lansing Ethics Ordinance as written. Tthat been in effect for the past year, is not necessary for most em employees. shall be The same will llbe followed in relation to the acceptance of unsolicited non-monetary as that for City employees. The policy states "BWL om anyees may accept one vendor do volt exceed $50 00 solicited non- monetary gifts from vendors, as long as the total gift Y in value in any year. A gift is anything of value given without the expectation of receiving something in return." Silver Bells Sponsorship Renewal. Motion by Commissioner h rized to resent Calkins resoluaion at the next seconded by Commissioner Wonch that the General Manager is a p regular meeting recommending approval to renew Silver Bells n the ity per yearSponsorship.$5,00 per The sponsorship for a three-year penod will t t at year of in-kind assistance. This will be brought to the full board on July 27, 2004. o the 312 N. Grand Avenue Property. General Manager Sanford LLC The agreement pertains to Novick gave a status report n Agreement to Sell between the BWL and River Street Triangle, the sale of BWL property at 312 N. Grand Avenue. He p orted that City Council has extended thout a requi red depositor option their agreement with River Street Triangle for six mot payment. It is anticipated this issue will be discussedthe Jul joint 27,b2004fasm Mr. Nov k noted that between the Commissioners and City Councilmembers scheduled for y the BWL can cancel the contract with River Street Triangle at any time without City Council approval. Council President General Discussion. Commissioner Callen reported that me up tc at the joint bheakfast meeting on Joan Bauer and indicated that among issues that co July 27 are: (1) Tree Trimming, (2) the proposed Street Light and Hydrant Riders with the City, (3) River Street Triangle Agreement for the 312 S. G rand vlisting(4of suggestedtawa )on BWLand and Communication. Councilmember Bauer has received a Councilmember pairings. WL has been General Manager Novick reported that the developer with Re for Proposal (RFP) fromlthe relative to the Ottawa Station, has a potential tenant. The Request State for office space has not come forth at this point. ary Selection Process for Director of Internal Audit. Human withsources respect to theInternal Audit reviewed the information provided to the Commissioners selection process. The Commissioners concurred asthe held revised action onthe questions to be askedlan as nof each filling the Internal Auditor position. Discussion w questions candidate. The list was narrowed to 22 questions. Commissioners may ask clarifying during the interview. The Commissioners will offer to interview the top seven candidates. ith seco Status of Union Negotiations — Closed Session. BY motion conveneCommissioner closed rest onto discusnded by Commissioner Wonch, that the Committee of the Whole the status of collective bargaining negotiations (9:00 p.m.). DRAFT—Subject to Board Approval on 9128104 61 Board Meeting July 27, 2004 Action: Adopted by roll call vote: Yeas: Commissioners Calkins, Callen, Duncan, Haggart, Rios, Smith, and Wonch Nays: None Absent: Commissioner Joseph Motion by Commissioner Calkins and seconded by Commissioner Wonch to return to open session (9:15 p.m.) No recommendations were brought forth from the closed session. Commissioner Callen spoke briefly on three items; namely, depositions being taken on a current lawsuit, his meeting with City Council on July 15, 2004 with regard to his reappointment to the Board, and updates from Commissioners on a recent American Public Power Association (APPA) meeting in Seattle. There being no further business, the Committee of the Whole adjourned at 9:20 p.m. Respectfully submitted, Tim Haggart, Chair Pro Tem Committee of the Whole Motion by Commissioner Haggart, seconded by Commissioner Calkins, to approve the report as presented. Action: Carried unanimously. Update on Status of Lead Service Issues General Manager Novick reported that there was lengthy discussion regarding lead in drinking water at the joint Board and City Council breakfast meeting this morning (July 27). Over the past several weeks, customer service representatives responded to numerous customer calls regarding lead in drinking water. Calls have started to taper off, however, newspaper articles are continuing to appear in the LANSING STATE JOURNAL. He commented that turnout at the community open house on July 22 has been very good, and reminded that open houses are set for July 28 at Cristo Rey and August 3 in the BWL Boardroom. The Ingham County Commissioners and a couple of state legislators are also taking an active interest in the lead issue. DRAFT—Subject to Board Approval on 9128104 62 Board Meeting July 27,2004 MANAGER'S RECOMMENDATIONS Backgro und materials on items presented are on file in the Office of the Corporate Secretary. esolution 2004-7-3 A. APPROVE ANNUAL SPONSORSHIP OF SILVER BELLS IN THE CITY FOR THREE YEARS WH EREAS, Silver Bells in the City traditionally opens the winter holiday season in Mid- Michigan, and WHEREAS, o enjoy free this event attracts an estimated 80,000 people to downtown oflthetofficial state WIi caroling and buggy rides, a lighted float parade, and to witne holiday tree, and mic well bein of d WHEREAS, Silver Bells in the City contributes to the ose who econoarticipate in this event and wntown Lansing while fostering a sense of community among th P WHEREAS, the Board of Water and Light has been associated with Silver Bells in the City since 1998 as a signature sponsor of the event. RES OLVED, That the Board of Commissioners approve an annualsponsorship k Bells -kind assistance, for a the City in the amount of$15,000 plus an additional $5,000 per y period of three years. StaffRemarks: Funds for this sponsorship are included in t year's media messagesopromons ting This sponsorship was also anticipated in the development community events sponsored by the BWL. Motion by Commissioner Duncan, seconded by Commissioner Haggart, to approve the resolution. Action: Carried unanimously. es'olution 2004-7 MAINTENANCE AND B. APPROVE EXTENSION O RACRT`°'WITH SIGNALFFIC SMICHIGAN DEPARTMENT OF ENERGY SERVICES CONT TRANSPORTATION FOR A PERIOD OF FIVE YEARS RES OLVED, That the Michigan Department of scTransportationd Energy y Co tract, for the period of Apr Lansing Board of Water il Light Traffic Signal Maintenance/Non-Maintenance and Energy 1, 2004 through March 31, 2009, is hereby approved as presented. (Summary attached) Motion by Commissioner Haggart, seconded by Commissioner Duncan, to approve the resolution. Action: Carried unanimously. DRAFT—Subject to Board Approval on 9128104 63 Board Meeting July 27,2004 esolufion'2004-7- C• APPROVE LEAD SERVICE REPLACEMENT WHEREAS, the Board of Water and Light is committed to provide safe and sufficient water to its customers and is in full compliance with the Safe Drinking Water Act, and WHEREAS, the Board of Water & Light owns water service lines to customers homes and businesses, some of which contain lead components, and WHEREAS, the Commissioners have determined that in the best interests of its customers, these lead water service components should be voluntarily replaced in a timely fashion. RESOLVED, That lead service line components be replaced with approved service line materials within ten years. Motion by Commissioner Calkins seconded by Commissioner Duncan, to approve the resolution. Action: Carried unanimously. UNFINISHED BUSINESS No unfinished business NEW BUSINESS No new business RESOLUTIONS No resolutions. GENERAL MANAGER'S REMARKS BWL Residential Energy Efficiency Program. General Manager Novick reported that one of his FY'04 objectives was to launch a Residential Energy Conservation Plan. He introduced Sue Warren, Marketing Specialist in the Customer Projects and System egrity, who has been Int coordinating with advisory groups in the development of this program. Int Warren presented an overview of the BWL EnergyWise program designed to reduce energy usage and decrease Pollution. The primary objective of the program is to educate and assist customers in identifying beneficial water and energy efficiency choices, to pursue partnerships that will benefit BWL customers, and act as a referral agency for existing local energy programs and services. Ms. Warren distributed copies of the new EnergyWise brochure. She noted that BWL has become an ENERGY STAR PARTNER, which is nationally known for its energy-efficient solutions, making it easy to save money while protecting the environment and our community for future generations. The BWL is also pursuing partnerships with local nonprofit organizations to DRAFT—Subject to Board Approval on 9128104 64 Board Meeting July 27,2004 promotional materials, postage and participation with minimal costs. The estimated first-year cost oft e increase exposure p print by costs, pr program is approximately $15,000 for brochures, p will be marketed in and booth fees. The program, anticipated to be launched ebsite and through the partnerships. the CONNECTIONS NEWSLETTER, the BWL�'�' given to provided Cook-Off Report. Communications Director John Strickler l Coolk-Off. tHeetrophy sop Chililace winners of this yea the 16 first and second p crease of 10 over last year. tive posters to the Commissioners. Mr. Strickleranre reported that 38 restaurants an commemorative organizations participated in the Chili Cook-Off this year, own a bit as the event was held inside the Lansing and will due to the we With Attendance was d 000 for the BWL s two charities The event raised slightly over $25, of the am and the HOPE Scholarship Fund. Mr. She news the evening s clip Adopt-A-River program Channel 6, which was televised on taken by TV station WLNS, event. Planning to ed Scorecard. General Manager Novick reported that as part of strategic Balanced the Hometown Balanced Scorecard achieve continuous improvement at all levels of the BWL, im implemented to track utility performance in key areas throughout the year. program is being p or of this Senior Vice Preside nt of Finance and Administration Dennis McFarland team leader David Kus process improvement. Mr. McFarland introduced KuBalsnreported that the Balanced Scorecard views the who presented an overview of theprogram- and translate it into action. It its vision and strategy enables the BWL to clarify targets. Balanced Customer, Financial, Internal Processes, and Learning an organization from four perspectives: and targ Growth. It also identifies performance improvementennan from Opportunities Kellee Christensen from Scorecard team members also include: Steve Band Shelley Wells Production, man Resources. Mr.ure L Customer Projects and System Integrity, noted that the project was chartered to develop create Balanced ds for each, and to semphasize not performance metncs, to c performance over 6-8 p The s ecific corporate measurements established benchmarking performance outside the BWL p for the program will be communicated throughout the BWL. dsit Manager of Water reg Service to the Water Industry Recognition of o the �d Industry Recognition from the Production,presented a plaque for"Service t " The la ue er Ame rican Water Works Association for 75 Years of Service an at the AVJWA annual meetingin was presented to Special Projects Director Clyde Dug Orlando, Florida. COMMISSIONERS' COMMENTS lcomhe ed newly appointed Commissioner Santiago preferences to d. Chair Robin Smith we especified sby announced the following Board committee assignments based on Commissioners in a survey completed last month. DRAFT—Subject to Board Approval on 9128104 65 Board Meeting July 27,2004 Finance Committee Nancy W. Duncan, Chair Ronald C. Callen Ifield P. Joseph Robin M. Smith Alternates: Gary Calkins, Nancy A. Wonch Human Resources Committee Tim Haggart, Chair Gary Calkins Santiago Rios Nancy A. Wonch Alternates: Ronald C. Callen, Robin Smith Nome Committee Nancy Wonch, Chair Tim Haggart Ifield Joseph Robin Smith Alternates: Gary Calkins, Nancy W. Duncan ABSENCES On motion by Commissioner Haggart and seconded by Commissioner Callen, that the a Commissioners Joseph and Wonch be excused. bsence of Carried unanimously. PUBLIC COMMENTS The Commissioners heard comments from Crystal Pe rry, 938 regarding electric service reliability problems occurring at her residence. MS Perryandria Drive, Lansing, the outages are continuing at her home and the problem has not been resolved. reported that Chair Robin Smith noted that Ms. Perry appeared at the May 25, 2004 Board meeting t a complaint. She called on General Manager Novick to give a brief report on the status ter current and future plans with regard to Ms. Perry's reliability difficulty. of General Manager Novick reported that he has been work reliability concerns. The BWL's commitment is to pro work' outstanding service. Ang with Ms. Perry to resolve her service accommodation was recently made with her past problem; however, a storm came throughthe reasonable next week, which took down a large limb, landing on a power line and causing another outage. Mr. Novick noted that he has personally visited the neighborhood with an engineering and linemen who actually came out to do repair work. age. p With the recent controversy regarding lead DRAFT—Subject to Board Approval on 9/28/o4 66 Board Meeting July 27,2004 ices to find a solution that will help water services, Ms. Perry has agreed to give BWL another week the electric reliability situation in her area.. Commissioner Smith thanked Ms. Perry for coming and gave her the Board's assurance that the BWL will work hard to accomplish its commitment of providing reliable service. Avenue, The Commissioners heard comments from Bethany Renfer who resides on Magnolia Lansing, regarding concerns with lead water services and the ten-year changeout of lead service She urged the Board to consider a shorter lead service replacement eply em program foframer lead in the lines. g Renfer noted that she and her husband shin d enrollmoved into theirhome... In the first year test results came back drinking water in 2001, when y per billion action at an acceptable level, but in 2002 results tested above the EPA's 15 parts The immediately purchased a drinking water filter, since the er removedy he not d that level. y it would cost them several thousand dollars to have their lea service he lead issue went that rt is disturbing to her that this being the first Board meeting w the BWL plans to address that there was limited discussion at today's Board meeting about task force to explore ways to lead services. She suggested establishing acommunity- ublic education campaign on reduce lead exposure and she urged implementing an aggressivep health risks. Ms. Renfer stated she is available as a citizen to assist in efforts to address concerns with lead service lines. tt t a Chair Rob in Smith thanked Ms. Renfer for her proactiveness. Skived a stated re ortafrom Committee staff task the Whole meeting earlier this month, the Commissioners received for ce that recommended a 15-year replacement program to remove all 14,000 lead components s directed that the schedule be shortened by five years. in services, but the Commissioner ral Manager Novick to report on the rationale for the ten- Co mmissioner Smith called on Gene year time frame. to meet with Mr. and Mrs. Renfer General Manager Novick reported that he had � educational y open houses held last week. He at one of the BWL-sponsored drinking reported that the BWL is completing a plan that will let customers know when their neighborhood will be scheduled for changing out lead services.made to complete it efficiently an effort will md undertaking involving vast resources and every e e will be refine quickly than ten years. The schedul n as th e evening's project continues- Mr- much more meeting is Novick noted that the reason there was not a lot of discussion be cause this is a topic that has received a lot of attention from the media and the Commissioners have been working diligently on this issue for several months. ld Ms. Renfer that as a new Commissioner, he appreciates her comments Commissioner Rios to andat assured her they are taken seriously. He noted that the Commissioners best way tol address the Council this morning and that both BWL collaborative away.the City are loo g lead water service issue in a DRAFT—Subject to Board Approval oil 9128104 67 Board Meeting July 27, 2004 ADJOURNMENT On motion by Commissioner Callen, seconded by Commissioner Haggart, the meeting at 6:50 p.m. g ad'ou rned /s/Mary E. Sova, Secretary Draft Filed with Lansing City Clerk August 6, 2004 DRAFT—Subject to Board Approval oil 9128104 Board Meeting Page 28 March 25, 2004 The Board met briefly with the Director of Metrics and Audits, Kellie Willson, to discuss transitional issues as the result of her retirement on March 31. 2004. Ms. Willson reported that she has left no incomplete projects or studies. She noted that a proposed job description and proposed schedule for filling the Internal Auditor position has been provided to Commissioner Haggart, Chair of the Human Resources Committee and Commissioner Duncan, Chair of the Finance Committee as a beginning point from which the Commissioners may feel free to make additions, changes or deletions. Ms. Willson stated that she will be available should there be any questions or concerns that may arise. ADJOURNMENT On motion by Commissioner Wonch, seconded by Commissioner Joseph, the meeting adjourned at 8:20 p.m. Is/Mary E. Sova, Secretary Filed with Lansing City Clerk April 2, 2004 DRAFT—Subject to Board Approval on 5125104 Page 27 Board Meeting March 25,2004 PUBLIC COMMENTS BWL employee Curt Gates, Business Manager for IBEW Local 352, extended a welcome to newly appointed Commissioner Gary Calkins. Mr. Gates made several comments about the stalled negotiations between management and the union. He stated that the union contract renewal is five months overdue; the union negotiating team has six team members, five of whom have multiple contract experience and one new member with no experience; the management team has two team members with negotiation experience; and the General Manager made it known that he did not like the contract from the beginning. Mr. Gates also spoke on the new safety incentive program. He believes that testing of bucket trucks is an issue that is not being addressed and is more crucial than just wearing safety glasses and hard hats. Mr. Gates also recognized Commissioner Royal for her invaluable contributions to the BWL. He thanked Commissioner Marin for the work she has done on committees and her sensitivity to employee issues. Mr. Gates acknowledged retiring Internal Auditor Kellie Willson, and noted that she is one of the most outstanding employees at the BWL and will be missed. Mr. Gates also inquired about the CSO (combined sewer overflow) project report that Commissioner Joseph requested at the January Board Meeting. General Manager Novick responded that staff committed to the Board that a report would be available at the May Board meeting, and he intends to live up to that commitment. [Commissioner Calkins, participating by speakerphone, excused himself from the remainder of the meeting at 7:05 p.m.] CLOSED SESSION Moved by Commissioner Wonch, seconded by Commissioner Haggart, that the Board meet in closed session to consult with the attorney regarding trial or settlement strategy in connection with specific pending litigation, Pandy v. Lansing Board of Water and Light, because an open meeting would have a detrimental financial effect on the litigating or settlement position of the Board of Water and Light(7:07 p.m.). Action: Adopted by roll call vote: Yeas: Commissioners Callen, Duncan, Haggart, Joseph, Marin, and Wonch Nays: None Abstentions: None Absent: Commissioners Calkins and Smith OPEN SESSION The Board returned to open session at 8:12 p.m. No action was taken as the result of the closed session. DRAFT—Subject to Board Approval on 5125104 Board Meeting Page 26 March 25, 2004 $25,725,000. Photographs of ongoing work were shown and interesting facts as to the magnitude of the project were stated. [Commissioner Robin Smith left the meeting at 6:20 p.m.] February Financial Report. Senior Vice President of Finance and Administration Dennis McFarland presented the BWL's financial statistics by utility and performance for fiscal year-to- date through February, 2004. For the eight months into this fiscal year, BWL revenues are 1% over budget, while expenses are at budgeted levels. Net income at $11.9 million is 2% ahead of budget. Mr. McFarland identified major items accounting for the variance between actual and budgeted net income, some of which are related to timing issues that will reverse prior to the end of the fiscal year. By fiscal year end, Mr. McFarland anticipates that we will be slightly over budgeted net income levels. A list of pending items which may affect BWL's net income and/or cash position between now and the end of the fiscal year was presented. These items included union contract settlement, sale of environmental emission allowances, disposition of Ottawa Station and other items. Eckert Station No. 2 Turbine Failure. Senior Vice President of Operations Bill Cook introduced Dick Peffley, Director of Production to give an update on the equipment failure of a high-pressure turbine at Eckert No. 2. Mr. Peffley reported that Eckert Station No. 2 turbine experienced a failure on February 19, 2004,just 13 days after coming out of a scheduled turbine overhaul. Three rows of blading, which had recently been installed by the original equipment manufacturer, appeared to have failed causing extensive damage to the turbine. Repairs are in the process of being completed and the unit should be back in operation sometime during the month of May. The estimated BWL cost for repairs only is between $300,000 and $600,000. This estimate does not include lost revenue or loss of potential capacity payments. This loss will also not meet the insurance deductible of$2 million. Request for Topic Summaries Commissioner Wonch requested, on behalf of Commissioner Smith who needed to leave earlier in the meeting, for summaries of the topic presentations to review at a later time. COMMISSIONERS' COMMENTS Chairperson Callen congratulated Commissioner Haggart on his appointment as Chair Pro Tem, and thanked him for accepting the position through June 30, 2004. EXCUSED ABSENCE On motion by Commissioner Haggart and seconded by Commissioner Marin, that the absence of Commissioner Smith be excused. (Commissioner Smith left the meeting at 6:20 p.m.) Carried unanimously. DRAFT—Subject to Board Approval on 5125104 Page 25 Board Meeting March 25, 2004 Erickson Western Coal Project, high-pressure turbine failure at Eckert Station, and the February Financial Report. Outage Management System. William Cook, Senior Vice President of Operations, introduced Tim Palmer, Manager of Electric Operations, who described the Outage Management System (OMS). This project involves the implementation of software to help better manage and organize outage information. It will allow the BWL to locate outages sooner and have better customer responses. The OMS project is part of a continuing effort to improve customer service, and specifically to improve the BWL's response during storms and outages. The system will allow for the elimination of trouble call slips, a report that is printed for every customer call-in when reporting no lights and wire down. The OMS will record all calls and will allow for caller input from either a PC based system from the Customer Service Department, or directly from our toll-free "Power Line" high-volume call answering service. A major feature of the OMS is an "outage analysis" function. This function determines the most probable location of the outage based on an algorithm that groups calls on a circuit within a certain period of time. This will allow for faster determination of crew dispatch locations. Crew management is another feature of the OMS. It allows for optimized crew routing, drag & drop crew assignments on the system map, and a clear visual tracking of all crews for safety when re-energizing outage areas. "What- If' switching capabilities exist, along with actual circuit cutover processes that include the recalculation of customers that are still without power or have been restored, based on partial circuit restoration steps during an outage. To make the system as usable to the system dispatchers, all of the above functions and information can be displayed on tabular screens within tables, or graphically on digital maps. Post outage analysis reports will be available that can assist in determining general outage causes, trending of problem areas, and individual queries based on customer power complaints. Summarized outage information will be available during an outage on individual PCs to upper management and executives on the BWL's Intranet that indicate the magnitude of the outage and the restoration progress, again both graphically and in table form. Update on Erickson Station. Senior Vice President of Operations Bill Cook introduced Dan Flynn, Principle Engineer in the Project Engineering Department to describe the Erickson Western Coal Project. This is the second largest project the BWL has had in the last 15-20 years. There have been several hundred people on the Erickson site since the outage started the first part of February; the plant has been down and is scheduled to be back on April 9th. This project resulted from the Board's approval of the BWL's Nitrogen Oxides ( NOx) compliance Strategy in 2002. The conversion of Erickson Station to burn Western Coal is the largest project in this strategy and provides two major benefits: reducing NOx emissions to meet Clean Air Act requirements and fuel cost savings of approximately $4 million per year. Project goals are: on line April 9, 2004 on 100% Western Coal, safely and efficiently operate at full load, NOx emissions at 0.21 lbs/mmbtu or less, produce a saleable fly ash product, and achieve projected fuel cost reductions. Mr. Flynn commented the project could not be completed without the cooperation of nearly the entire BWL. Specifically recognized were: Erickson staff, Maintenance and Construction Resource Center, Electric Production Engineering, Purchasing, and all of the Project Engineering Resource Center; and in addition all of the contractors and craft labor. The project status was stated as: on time for start-up April 9, 2004 and on budget at DRAFT—Subject to Board Approval on 5125104 Board Meeting Page 24 March 25, 2004 She has extensive experience in litigation and regulation in the electric utility industry. Diane's deep commitment to the Board of Water and Light and the City of Lansing has been well demonstrated by the countless hours she has contributed to the Board. She never lost sight of the goal of assuring that electric, water and steam are reliable and delivered at the lowest price possible; and WHEREAS, Diane Royal is past chair of the Public Utility Law Committee, Administrative Law Section, State Bar of Michigan. She has a strong sense of social justice and an unshakable belief in our system of self-government. Her involvement in public issue advocacy on behalf of disadvantaged clients and non-profit organizations clearly demonstrates the highest qualities of citizenship and unselfishness. She may never know how many lives she has touched, but there are many who know her value; and WHEREAS, Diane has demonstrated high ideals of personal endeavor through her civic involvements. She has touched many lives through her career and community activism. Her professionalism, hard work, and sensitivity to the needs of the public have won for her the respect and admiration of all who have the good fortune of knowing her; and RESOLVED by the Board of Water and Light Commissioners, That the members of this Board honor and thank Diane R. Royal for her distinguished service on this Board. Indeed, her influence will long be felt. In regular session this 251h day of March, 2004, we wish Diane our best wishes for the future and happiness as she encounters new challenges. Motion by Commissioner Wonch, seconded by Commissioner Marin, to approve the resolution. Discussion: The Commissioners offered their good wishes and continued success to former Commissioner Royal. They acknowledged her many sacrifices by the countless hours spent away from her independent business to serve as Chair and Commissioner of the Board. They thanked her for the tenacity and strength she brought to the Board and ability to provide guidance in addressing tough issues. Her departure will leave a void on the Board. Action: Carried unanimously. Tributes Offered by Mayor Tony Benavides Chairperson Callen welcomed Mayor Tony Benavides who appeared before the Board to pay honor to Commissioners Mann and Royal. Mayor Benavides presented certificates of recognition and a gift on behalf of the citizens of Lansing for dedicated services to the City by serving on the Board of Water and Light. He expressed appreciation to both of these women for their courage and commitment to this community. GENERAL MANAGER'S REMARKS General Manager Novick reported that staff presentations have been prepared to update the Board on the status of the Board of Water and Light's (BWL) new Outage Management System, DRAFT—Subject to Board Approval on 5125104 Page 23 Board Meeting March 25,2004 Center on April 1, 2004 where she has been employed since 1986 as coordinator of special projects, working with department heads to develop solutions for critical issues confronting the hospital. In addition to her job-related responsibilities, she served on various community boards such as the Lansing Board of Fire Commissioners and worked on behalf of the Ingham County Health Department to develop the Capital Area Health Alliance Committee, the Nutrition Task Force and the Ingham Health Plan. Among her distinguished honors, she is the recipient of the Boy Scouts of Ainerica Whitney Young Award for services rendered to under served populations, Lansing YWCA's Diana Award for programs developed to reach women of color, and the Capital Area United Way Marian Marshall Award for 25 years of volunteer service; and WHEREAS, We are sincerely grateful to Connie Marin's outstanding vision and leadership. The people of the Lansing community and the employees of the Board of Water and Light have benefited from her long hours and hard work on this Board. RESOLVED by the Board of Water and Light Commissioners, That the members of this Board congratulate Connie Marin upon her retirement and thank her for all that she has contributed as a member of this Board. On this 25th day of March, 2004, we wish Connie and her family the very best and well-deserved happiness and fulfillment in her new home in Texas. Motion by Commissioner Wonch, seconded by Commissioner Duncan, to approve the resolution. Discussion: Each of the Commissioners offered their good wishes and congratulated Commissioner Marin on her retirement. They commented that Commissioner Marin was a joy to work with and thanked her for her leadership role in assisting with water choice program issues. They also thank her for emphasizing diversity and continual reminders that we all have a responsibility in that regard. Action: Carried unanimously. Resolittion 2004-03-07 RESOLUTION HONORING DIANE R.ROYAL WHEREAS, It is with deep appreciation that we offer tribute to Diane Royal as she brings to a close an outstanding tenure of public service to the Board of Water and Light and the people of this city as she completes over eight years of dedicated service; and WHEREAS, Diane Royal was appointed as an At Large Commissioner on October 9, 1995. She was elected Vice Chair of the Board in 1996 and held that post four times. Diane became Chair of the Board in 1998 and served in that capacity for four years between 1998 and 2004 and served on the Executive, Finance, Human Resources, and Nominating Committees; and WHEREAS, As a Board Commissioner, Diane Royal played an integral role over the years in a variety of matters affecting this utility. Her expertise in utility law and her depth of experience in the utility industry brought an exceptional understanding of policy-setting responsibilities. DRAFT—Subject to Board Approval on 5125104 Board Meeting Page 22 March 25,2004 Resolution 2004-03-05 INDIRECT COST ALLOCATIONS WHEREAS, the Board of Commissioners has determined that Indirect Cost Allocations are a management cost accounting issue that does not require Board action upon revision. RESOLVED, that Resolution 2003-7-14 be rescinded, and RESOLVED FURTHER, that the Board of Commissioners hereby delegates to management the responsibility of establishing, monitoring, and revising appropriate Overhead Cost Methodology and allocation factors. Staff Remarks: A complete analysis of the allocation factors and methodology will be completed and revisions implemented as soon as practicable, but no later than the beginning of FY 2006. Motion by Conuiiissioner Wonch, seconded by Commissioner Smith, to approve the resolution. Action: Carried unanimously. UNFINISHED BUSINESS None RESOLUTIONS Resolution 2004-03-06 RESOLUTION HONORING CONNIE MARIN WHEREAS, It is with pleasure and a privilege that the members of the Board of Commissioners honor Connie Marin as she brings to a close an outstanding tenure of public service to the Board of Water and Light and the people of this city as she completes two and one-half years of dedicated service; and WHEREAS, This community leader was appointed to the Board on October 29, 2001. While she served on the Board and as a member of the Human Resources Committee, she played a pivotal role in the success of the Board of Water and Light by sharing her expertise from a broad range of issues promoting health, education, employment opportunity and diversity. She chaired the Board's special committee on water issues to address water main construction issues associated with water customer choice in 2003; and WHEREAS, For nearly a quarter of a century, Connie has been a driving force in the community promoting human and health services. She has brought to this Board an insight into the concerns and needs of this community. Connie is retiring from Ingham Regional Medical DRAFT—Subject to Board Approval on 5125104 Page 21 Board Meeting March 25,2004 her retirement to work on special projects as requested by either the BWL Commissioners or General Manager. Motion by Commissioner Wonch, seconded by Commissioner Duncan, to approve the resolution. Discussion: Chairperson Callen stated that there are a number of issues that Ms. Willson is working on and her expertise will be needed during this transition period. Action: Carried unanimously. Resolution 2004-03-04 INTER-UTILITY TRANSFERS WHEREAS, the Board of Commissioners has determined that formal promissory notes are not appropriate for existing and future inter-utility transfers, and WHEREAS, the Board of Commissioners stipulates that the BWL operates four financially independent utilities. RESOLVED, that Resolution 2003-4-1 be rescinded, and RESOLVED FURTHER, as soon as practicable, but no later than Fiscal Year 2006, the financial statements of the BWL are to segregate and report the financial activities for each of the Water, Electric, Stearn, and Chilled Water utilities in conformity with generally accepted accounting principles; and RESOLVED FURTHER, that subsequent annual budgeting process will take into consideration the concept and practice of financially independent Water, Electric, Steam, and Chilled Water utilities; and RESOLVED FURTHER, that appropriate accounting entries will replace formal promissory notes to record transactions among the four utilities. Staff Remarks: As discussed at the recent Finance Committee meeting, these actions are necessary to ensure present accounting and planning processes comply with current Board preferences regarding inter-utility transfers and the use of promissory notes. Motion by Commissioner Duncan, seconded by Cormnissioner Marin, to approve the resolution. Action: Carried unanimously. DRAFT—Subject to Board Approval ou 5125104 Board Meeting Page 20 March 25, 2004 Motion by Commissioner Duncan, seconded by Cormlussioner Wonch, to approve the report as presented. Action: Carried unanimously. NOMINATING COMMITTEE REPORT (Resolution 2004-03-02) Chair Pro Tem Recommendation The Nominating Committee met on March 18, 2004 at 12:50 p.m. Members present were Commissioners Connie Marin, Tim Haggart, Robin Smith (by speakerphone), and Nancy Wonch. The purpose of the meeting was to consider candidates for the Chair Pro Tem vacancy. By a vote of 3 to 1, the Committee submits the following nomination for consideration at the regular meeting on March 25, 2004. The Nominating Committee recommends the appointment of Commissioner Tim Haggart as Chair Pro Tem for the balance of this fiscal year ending June 30, 2004. There being no further business, the meeting adjourned at 1:05 p.m. Respectfully submitted, Nancy Wonch, Chair Nominating Committee Motion by Commissioner Marin, seconded by Commissioner Smith, to approve the report as presented. Discussion: Commissioner Wonch reported that the purpose of the Nominating Committee meeting was to fill the Chair Pro Tem vacancy due to changes in officers. The Chair Pro Tem office has been vacant since former Chair Diane Royal left the board on February 181h Commissioner Callen moved from Vice Chair to Chair and Commissioner Duncan moved from Chair Pro Tem to Vice Chair upon former Commissioner Royal's departure from the Board. Action: Carried unanimously. MANAGER'S RECOMMENDATIONS Background materials on items presented are on file in the Office of the Corporate Secretary. Resolution 2004-03-03 CONSULTANT AGREEMENT RESOLVED, that the Board of Commissioners authorize Chair Ronald Callen to negotiate and execute a contract with Kellie L. Willson. Ms. Willson will be retiring from the Board of Water and Light on April 9, 2004. The Commissioners wish to retain her at an hourly rate following DRAFT-subject to Board Approval on 5125104 Page 19 Board Meeting March 25,2004 2. A resolution to rescind Resolution 2003-7-14 on Indirect Cost Allocations stating that the Board delegates to management the responsibility of handling the allocation factors and overhead methodology. The resolution should clarify why it is being rescinded with emphasis that staff will conduct an analysis of allocation factors to set the process to change the methodology for FY 2006. City Request for Additional Dollars. General Manager Novick reported that he has been meeting with various city officials and Council Members to talk about the BWL's financial obligations to the City of Lansing and the citizens of Lansing. The purpose for these discussions is to clarify a confusion that exists about the equity ownership of the BWL. As with a private company, the equity of the company is owned by the owners of the company. Essentially, only the owner of a company can sell the company, by City Charter, only the citizens of Lansing can sell the BWL. Consequently, the citizens of Lansing own the BWL and its equity. The Board, as the citizens' agent, manages the citizens' equity investment. Mr. Novick noted that he has met with City officials to discuss the City's fiscal dilemma during the past couple of weeks. Update on Proposals for Ottawa Station. General Manager Novick reported that the City has put forth a draft proposal for an Ottawa Station development feasibility study. He introduced discussion as to whether there is interest by the Board of becoming involved in the development business. Following input, the sense of the Committee was for the BWL to focus its efforts on providing reliable utility services at a reasonable price. The BWL should work with the City by retaining the services of someone who would be interested in marketing the development of the Ottawa Station with the right combination of uses, people and financing or pursue any other option that keeps the BWL out of the development business but finds a party to develop Ottawa Station. Closed Session - Status of Union Negotiations. By motion of Commissioner Smith, seconded by Commissioner Joseph, that the Finance Committee convene in closed session to discuss the status of collective bargaining negotiations (7:40 p.m.). Action: Adopted by roll call vote: Yeas: Commissioners Callen, Duncan, Joseph, Marin, and Smith. Nays: None Absent: Commissioners Wonch The Finance Committee returned to open session at 8:23 p.m. No recommendations were brought forth from the closed session. There being no further business, the meeting was adjourned at 8:23 p.m. Respectfully submitted, Nancy Duncan, Chair Finance Committee DRAFT—Subject to Board Approval on 5125104 Board Meeting Page 18 March 25,2004 BWL Sole Source Report. General Manager Novick reported that he wants to ensure the Board is receiving relevant information from the Sole Source Report to accomplish its oversight responsibilities. He noted that prior to July 2003, the purchasing policy required reporting purchases equal to or greater than $15,000. The new purchasing policy contains emphasis on the requirement for competitive bidding for purchases over $5,000. He suggested evaluating the lower $5,000 threshold to determine if it should be increased or if there is a better way to summarize the documentation to assure purchasing procedures are being followed and that the report is more meaningful to the Board. Mr. Novick suggested continuing with the current Sole Source Report requirement while staff explores other appropriate reporting mechanisms. A recommendation will be brought to the Committee in the future for review and input. The Cormmittee emphasized the importance of having proper internal controls and an appropriate reporting mechanism that is understandable to assure procedures are being followed. Inter-Utility Transfers. Mr. Novick and Mr. McFarland stated that to ensure present accounting and planning processes comply with past actions taken by the Board and current Board preferences, the issue of inter-utility transfers needs to be clarified. Board Resolution 2003-4-1 on Inter-Utility Transfers, approved April 8, 2003 has created an accounting issue that needs to be addressed. That resolution provided that all inter-utility transfers prior to FY 2004 be waived with two exceptions: (L) existing formal inter-utility loans and interest-bearing notes and (2.) those associated with GM's Lansing Grand River Plant incentive package. It further provided that the budget for each utility will be balanced at the start of the fiscal year with an interest-bearing note if needed. They noted that the accounting process is best used to help identify and track business problems and not to fix business issues. The Committee was asked to clarify two questions: (L) whether BWL has three or four utilities for financial reporting purposes starting with FY 2006 and (2.) whether formal promissory notes are required for existing and future inter-utility transfers. Overhead Cost Methodology. Mr. McFarland reported that the Overhead Cost Methodology approved by the Board on July 22, 2003 (Resolution 2003-7-14) does not appropriately reflect certain items such as general facilities and management salaries. Moreover, he stated that the related allocation factors do not appropriately reflect the four-utility structure. He recommended a review of the overhead methodology to adjust it to a more appropriate accounting practice. Mr. Novick noted that accounting issues such as overheads and allocation factors generally should not require Board approval. Following discussion, the Committee requested the following for consideration at the next regular meeting: 1. A resolution to amend Resolution 2003-4-1 on Inter-Utility Transfers to stipulate that the BWL operates four financially independent utilities; namely, Electric, Water, Steam and Chilled Water. Appropriate accounting entries will replace formal promissory notes to record transactions among the four utilities. DRAFT—Subject to Board Approval on 5125104 Page 17 Board Meeting March 25,2004 Basic assumptions include normal weather, trended ten-year growth rates, General Motors (GM) consumption provided by GM, and that all available electric capacity not sold at retail is sold at wholesale. Revenue Assumptions • No electric or water rate increases; to be revisited later. • Steam rate increase anticipated; rate design is in process • Chilled Water rates to be reviewed; no growth anticipated • Chilled Water at minimum bill levels • Two percent increase in Wholesale Electric prices Operating Expenses • No increase in full-time equivalent employees • Appropriate effects of negotiated union settlement upon bargaining unit,non-bargaining unit and retirees • Non-bargaining salary increase based on market study • Significant increase in health care cost. • Reallocation of discretionary resources Capital Expenditures • Revenue producing capital additions to be justified by cost/benefit analysis • Remaining capital targeted at annual depreciation expense (FY 2005 budget—$25 million) • Capital expenditures included to address result of August 14, 2003 outage analysis. Other Considerations • No bond issues planned • The payment in lieu of taxes (PILOT) to the City will remain at 4% of gross revenue • Interest Expense/Income • Wholesale water contract restructuring Following discussion, the Committee consented with the fundamental FY 2005 financial plan assumptions presented. Financial Report. Mr. McFarland reviewed the BWL's financial performance for fiscal year-to- date through January 2004. For the six months into this fiscal year, BWL revenues are up 1% compared to budget, while expenses are on budget. Consequently, net income at $10.6 million is 13% ahead of budget. Electric sales were higher due to wholesale sales; water sales were down due to cool weather last summer. Steam sales were up slightly due to weather. Chilled water sales are down. He pointed out that the S% variance in the budgeted operating income was due to the August 14th blackout, premium sharing on health insurance, which has yet to occur, and timing issues involving the conversion of Erickson Station to Western Coal and the Electric Energy Cost Adjustment. Certain factors reflect timing and actual performance is expected to be close to budget with planned expenditures and unit down time as the fiscal year ends. DRAFT—Subject to Board Approval on 5125104 Board Meetuig Page 16 March 25, 2004 COMMUNICATIONS Letter received from Commissioner Connie Marin announcing her resignation as Commissioner of the Board of Water and Light effective March 31, 2004 because she is retiring from Ingham Regional Medical Hospital. Commissioner Marin plans to return to her home state of Texas. Received with regret and placed on file. COMMITTEE REPORTS FINANCE COMMITTEE REPORT (Resolution 2004-03-01) Committee Members Present: Commissioners Callen, Duncan, Haggart, Joseph, and Smith. Commissioner Marin was also in attendance. Excused Absence: Commissioner Wonch. The Finance Committee met on Februaiy 24, 2004, at 5:30 p.m. to discuss the following items: 1. Financial Plan.Assumptions 2. Financial Report—January 31, 2004 3. Sole Source Report 4. Inter-Utility Transfers 5. City Request for Additional Dollars 6. Update on Proposals for Ottawa Station Financial Plan Assumptions. Senior Vice President of Finance and Management McFarland presented an overview of FY 2005 financial plan assumptions. In summary: Financial Goals • Maintain credit quality • Ensure liquidity to meet potential contingencies • Maintain rate competitiveness with a goal of 20% less than competitors • Efficient and appropriate use of capital while maintaining safety and reliability. Sales Forecast Utili FY'05 Forecast FY'04 Budget % '05 Budzet to '04 Budzeet Electric—Retail 2,455,000 2,545,000 -3.5% Electric—Wholesale 681,000 591,000 15.2% Electric (mwh) 3,136,000 3,136,000 0.0% Water(ccf) 11,139,870 11,244.467 -0.9% Steam(mlb) 2,056,000 1,926,700 6.7% Chilled Water(mhrs) 11,931,000 11,931,000 0.0% DRAFT—Subject to Board Approval on 5125104 Page 15 DRAFT—Subject to Board Approval on 5125104 MINUTES OF THE BOARD OF COMMISSIONERS' MEETING . LANSING BOARD OF WATER AND LIGHT Thursday, March 25, 2004 The Board of Commissioners met in the Boardroom of the Administrative Offices, 1232 Haco Drive, Lansing, Michigan. Present: Commissioners Gary L. Calkins (speakerphone) Ronald C. Callen,Nancy W. Duncan, Tim Haggart, Ifield P. Joseph(Arrived 5:45), Connie Marin, Robin M. Smith and Nancy Wonch Absent: None The Secretary declared a quorum present. Chairperson Callen called the meeting to order at 5:30 p.m. APPROVAL OF MINUTES Motion by Commissioner Wonch, seconded by Commissioner Smith, to approve the minutes of the regular Board meeting held January 29, 2004. Carried unanimously. PUBLIC COMMENTS THE CHAIR ANNOUNCED THAT MEMBERS OF THE PUBLIC ARE WELCOME TO SPEAK TO THE BOARD ON ANY AGENDA SUBJECT OR ON ANY OTHER SUBJECT NOW, OR AT THE END OF THE MEETING. MATT ernlrloyee T^. Davis, PreS,rient n-F TRMAT T ^Cal 3S2 onmmented on the stafiis of t,;nion negotiations. After an unsuccessful mediation, the union filed a petition for Fact Finding to listen to both sides of the issue. Mr. Davis stated that as each day passes, it becomes more important for the union and management to have some kind of dialogue to resolve the stalled negotiations and find common ground. He noted that each day the labor agreement is unresolved, it is detrimental to the well-being and mental health of those employees who are involved. Mr. Davis wished Commissioner Marin the very best as she relocates to Texas. Page 95 PRELIMINARY—SUBJECT TO BOARD APPROVAL ON JANUARY 25, 2005 MINUTES OF THE BOARD OF COMMISSIONERS' MEETING LANSING BOARD OF WATER AND LIGHT Tuesday, November 23, 2004 The Board of Commissioners met in the Boardroom of the Administrative Offices, 1232 Haco Drive, Lansing,Michigan. Present: Commissioners Gary L. Calkins,Ronald C. Callen,Nancy W. Duncan, Tim Haggart, Ifield Joseph, Santiago Rios,Robin M. Smith and Nancy Wonch. Absent: None The Secretary declared a quonim present. Chairperson Smith called the meeting to order at 5:30 p.m. APPROVAL OF MINUTES Motion by Wonch, seconded by Commissioner Duncan, to approve the minutes of the regular meeting held September 28, 2004 and special meeting held October 21, 2004. Carried unanimously. PUBLIC COMMENTS THE ANNOUNCED T� AGENDA SUBJECT OR ONMBERS OF THE IC ARE WELCOME TO ANY OTHER SUBJECT SPEAKK TO TO THE BOARD ON NOW, OR AT THE END OF THE MEETING. Ron Byrnes, BWL retiree, asked for an explanation on several issues related to retiree benefits and quoted from Board Resolution # 98-5-3, which states: "Whereas, the Board of Water and Light agreed during negotiations to review pensions every three-years with a one-year look back..." Mr. Byrnes stated that when Mr. Novick was questioned about that resolution at a recent retiree breakfast meeting, he responded that it was a one-time deal and no longer valid. Mr. Byrnes stated that on behalf of retirees, he requests a clarification to that response. He said that the three-year issue with a one-year look back was a negotiated item and approved by the Board when the contract was ratified. Mr. Byrnes further stated he has documents in his possession clearly indicating the union also negotiates for pensioners. Mr. Byrnes stated this is the first time in the BWL's history retirees have had to seek legal advice on benefits and added Board. Ming 96 November 23,2004 that retirees should not have to look to outside counsel for legal advice on these matters; it should be resolved in-house. He urged the Board and management to treat retires fairly and to uphold and honor promises made. Mike Brown, president of the Capital Area United Way thanked the Board, staff and all employees for the support given to the campaign. The BWL provided in-kind assistance by putting up signs and campaign thermometers in the community. The employees' generous contributions and the BWL's leadership in the community were very much appreciated. Roger Jeffers, BWL retiree, registered his concern with respect to health care premium sharing. Although retirees have not yet been asked to share in the cost of health care premiums, Mr. Jeffers stated he wanted to address the fairness issue addressed by General Manager Novick in the April 2004 issue of PIPELINE. Mr. Jeffers pointed out that BWL employees have an opportunity to receive raises annually to help offset a portion of their health care cost. Retirees, however, live on a fixed income and cannot afford the additional burden of health care premium sharing. Max Zemer, BWL retiree, stated there has been a great deal of discussion on retiree benefits. He expressed concern that with several key senior management members having left the BWL, it appears the new administration has not been brought up to date on the history of retiree benefits. He noted that when employees had the option of remaining with the defined benefit pension plan or to select the defined contribution pension plan, the differences between the two plans were explained. Mr. Zemer said he and other retirees are available to meet with management to discuss and clarify benefit issues. He urged the Commissioners and management to engage in more dialogue with retirees, particularly on benefit matters. COMMUNICATIONS Letter from James A. White, Attorney with White, Schneider, Young & Chiodini, PC, regarding health benefit cost to Board of Water and Light retirees, dated October 28, 2004. Referred to management for future discussion with the Board. Letter from Ronald T. Byrnes, Chair, Retirees Pension and Benefits Committee of the Board of Water and Light Retirees' Club regarding retiree benefits, dated October 1, 2004. Referred to management for future discussion with the Board. Letter from Max Zemer, Vice Chair, Retirees Pension and Benefits Committee of the Board of Water and Light Retirees' Club regarding retiree benefits, dated October 22, 2004. Referred to management for future discussion with the Board. Letter of thanks from Urban Options Board of Directors regarding the Energy Star business partnership, dated November 10, 2004. DRAFT—Subject to Board Approval on 112512005 97 .ard Meeting November 23,2004 Placed on file. COMMITTEE REPORTS FINANCE COMMITTEE REPORT Committee Members Present: Committee Members Callen, Duncan, and Joseph (arrived at 5:40 p.m.) Commissioner Calkins Committee Members Absent: Commissioner Smith Finance Committee Chair Nancy Duncan requested a moment of silence to remember Curt Gates, BWL employee, who died today. The Finance Committee met on October 12, 2004 at 5:30 p.m. to review and discuss the following issues: 1. Audited Financial Statements of the Enterprise Fund for Fiscal Year 2004 2. Draft Resolutions for: a. Accepting the Fiscal Year 2004 Audited Financial Statements b. b. Establishing Regulatory Assets for the North Lansing Landfill 3. August Financial Report 4. Internal Auditor Report Senior Vice President of Finance and Administration,Dennis McFarland gave a brief review of the June financial report. Mr. McFarland pointed out the major items accounting for the variation in Operating Income for fiscal year 2004 as compared to budget which included decreased sales, environmental remediation costs, a write down in the value of Ottawa Station, and higher maintenance expense. Mr. McFarland noted that the audited financials for the Defined Benefit Pension Fund, the Defined Contribution Pension Fund and the VEBA were being presented to the Finance Committee for information. These statements will be reviewed with the Pension Fund Trustees at their November meeting. Mr. McFarland introduced Doug Rober from Plante & Moran, who in turn introduced Jaclyn Simon, Bob Pekrul, John Novis and Frank Audia. Mr. Rober stated that they received good response from staff in conducting this year's audit. The external auditors presented the results of the audit for fiscal year ended June 30, 2004 for the Board of Water and Light (BWL) Enterprise Fund. The auditors discussed their responsibility under generally accepted auditing standards. They reviewed the summary of Unrecorded Possible Adjustments and discussed why they did not need to be recorded for fiscal year 2004. The auditors reviewed their Management Letter comments and responded to questions. Staff presented its responses to their comments. Mr. Pekrul gave a presentation that included a four-year comparison of operating revenue, operating expenses, and operating income or loss. A comparative analysis was also presented on the bond debt service requirements, kilowatt hours generated versus purchased, and significant fuel costs. The Finance Committee recommends the following resolutions: DRAFT—Subject to Board Approval on 112512005 Board. Ming 98 November 23,2004 esolution 2004 1,-'1 FISCAL YEAR 2004 AUDITED FINANCIAL STATEMENTS RESOLVED, That the fiscal year 2004 Audited Financial Statements for the Board of Water and Light Enterprise Fund have been reviewed and hereby accepted as presented. FURTHER RESOLVED, That the Corporate Secretary is hereby directed to file a copy of the fiscal year 2004 Audited Financial Statements of the Board of Water and Light Enterprise Fund and the Report on Auditing Procedures with the State Treasurer as required by the Uniform Budgeting and Accounting Act (Public Act 2 of 1968, as amended). Motion by Commissioner Calkins, seconded by Commissioner Callen, to refer this resolution to the Board Meeting in November. Approved. esolution 2004-11- STATEMENT OF FINANCIAL ACCOUNTING STANDARD (SFAS)#71 ESTABLISHING REGULATORY ASSET FOR NORTH LANSING LANDFILL RESOLVED, That the Board of Commissioners, as the regulatory body of the Board of Water and Light (BWL), approve that the estimated liability related to the BWL's environmental remediation of the North Lake Lansing Road landfill site be recorded and a corresponding Statement of Financial Accounting Standards (SFAS)No. 71 regulatory asset be recognized. Staff Comments: Through monitoring tests performed on the North Lake Lansing Road landfill, it has been discovered that the site is contaminating the ground water. The contamination does not pose a significant health risk but does lower the quality of the groundwater. The BWL is currently in the process of applying for approval from the State of Michigan to remediate the site. The BWL has estimated the total cost for remediation of the landfill to be $4,623,000. Generally accepted accounting principles require the BWL to record a liability for the estimated future costs of remediation and monitoring of the Lake Lansing Road Landfill. Each future year BWL will review the estimate and record appropriate adjustments. SFAS #71 allows for the BWL to record the estimated liability and a"deferred expense." This deferral permits the BWL to charge operating expense as actual costs are paid. Motion by Commissioner Joseph, seconded by Commissioner Callen. to refer this resolution to the Board Meeting in November. Approved. Mr. McFarland discussed the August financial report. He projects that if the BWL follows the current pattern, net income will show a loss of approximately $2.5 million for the fiscal year. This is due to the weather, the pending union settlement and the General Motors slowdown. Commissioner Calkins suggested that he would like to see a recommendation from staff on what DRAFT—Subject to Board Approval on 112512005 1 yard Meetin6 99 November 23,2004 will be done about the 10 percent health care premium paid by non-bargaining employees. Mr. McFarland stated that this was being discussed but there were no staff recommendations at this time. A letter transmitting to the City copies of the Audited Financial Statements meet suggest g between review of the statements be included as an agenda item for the n q m City Council and BWL Commissioners. There was much discussion on how to structure the review. Staff will develop a proposed presentation. Internal Auditor Glenn Holloway discussed his first priorities at the BWL and current projects: • Revise the Internal Audit Charter,which was last updated in 1995. • Meet with each of the Commissioners. Mr. Holloway wants to discuss with the Commissioners what they believe his priorities should be. • Conduct a risk assessment to assist in developing an annual audit plan. • Determine the quantity and depth of the annual audit plan. There being no further business, the meeting adjourned at 7:40 p.m. Respectfully submitted, Nancy Duncan, Chair Finance Committee Motion by Commissioner Callen, seconded by Commissioner Haggart, to receive the report. Action: Carried unanimously. Motion by Commissioner Calkins, seconded by ial stanch, to approve Resolution 2004-11-1 relative to filing the Fiscal Year 2004 audited financ s. Action: Carried unanimously. Motion by Commissioner Wonch, seconded by n°e�blishing reg uatory asset forissioner Josh, to aprove Nolrth on 2004-11-2 relative to application of SFAS#71 Lansing Landfill. Action: Carried unanimously. esolurion 2004-11-3 COMMITTEE OF THE WHOLE REPORT Present: Commissioners Ronald C. Callen, Nancy W. Duncan, Ifield Joseph, Santiago Rios, Robin M. Smith and Nancy Wonch. Absent: Commissioners Calkins and Haggart. DRAFT—Subject to Board Approval on 112512005 Board. cting November 23, 2004 100 The Committee of the Whole met on October 21, 2004 at 6:15 p.m. to receive a presentation on environmental issues Public Comments: There were no public comments. General Manager Sanford Novick reported that power plants that use fossil fuels to generate electricity currently face a myriad of environmental regulations intended to restrict releases to the air, water, and land. Of these, the air quality regulations tend to be the most complex and costly. Over the past decade, numerous federal and state rules have been issued or proposed to .mitigate multi-pollutants in the air and water. The U. S. Environmental Protection Agency (EPA) has developed new rules for controlling trace emissions of other substances, such as mercury. Mr. Novick told the Commissioners that staff intends to hold discussions on environmental issues with the Board on a regular basis to begin the process of getting feedback and guidance to set policy and direction in the technical and financial decision making. He noted that the purpose of the meeting was not intended to draw out a conclusion, but to promote good dialogue to formulate in a responsible way the direction the BWL is to pursue. Nick Burwell of Environmental Services provided the Commissioners with a list of all environmental issues that would be facing the Board of Water and Light. He reported that the top two issues on the list are: New Source versus Routine Maintenance. Many of the existing and proposed regulations target the same emissions: sulfur dioxide (SOZ), nitrogen oxides (NOX)and mercury require different emissions reduction requirements and compliance timetables. He reported that both of these issues are of major concern to every coal-fired electric plant in the country. The first issue is a legal and interpretation issue for existing regulations. The second issue centers on proposed regulations. As a first step in the planning process of ensuring that the BWL is able to meet future needs, Mr. Burwell discussed the basis for controlling multi-pollutant emissions, current compliance, future regulations, the potential impact on BWL, planning BWL has already done, and the next steps. The Commissioners recognized in their discussion that the environmental issues are complicated and are not just to be resolved for technical discussion. They discussed multi-pollutant approaches, both from an environmental and an economic standpoint. The Commissioners recognized the importance of community involvement and soliciting public input before a final decision is made. There was clear recognition that ultimately the proposed multi-pollution control strategies not only involve an engineering decision, but economics as well as community values and judgment. There being no further business, the Committee of the Whole adjourned at 7:10 p.m. p.m. Respectfully submitted, Ron Callen, Chair Pro Tern. Committee of the Whole Motion by Commissioner Callen, seconded by Commissioner Duncan, to receive the report. Action: Carried unanimously. DRAFT—Subject to Board Approval on M512005 .rd Meeting 101 November 23,2004 esolution COMMITTEE OF OF THE WHOLE REPORT Present: Commissioners Gary Calkins, Ronald C. Callen, Nancy W. Duncan, Tim Haggart, Ifield Joseph, Santiago Rios, Robin M. Smith and Nancy Wonch. The Committee of the Whole met on November 23, 2004 at 4:30 p.m. to discuss the following: Triangle Property. City Attorney Paul Novak was present to ovideed the City regarding the an update on the river front development that is currently negotiated between thedevelopers development agreement was property known as the Triangle ago oabe between then MayorgHollist r and developers Gary Granger and negotiated a couple of years cels together. Mr. Novak outlined the terms Joel Ferguson, which essentially linked the two par of both agreements as they currently stand: Triangle Propel Agreement Pro pert Y: Bounded by Kalamazoo Street on South, GrandWest, p Washtenaw right-of-way on North,river train on Grand River o as shown on a drawing that was handed out. Price: $2.18 millionsquare feet Purpose: Developer—Office Building oer must f not June 1ss 5,2005 (nless extended to Special Terms: ' OctobeDevelor 14, 2005 on payment of$50,000.00 Developer must close within 60 days of exercise Two years from commencement to complete Office Building Developer remediates whole site City receives at least 20 years Letter of Credit of taxes or equivalent of City 15 mils, Developer secures BWL Coal Site Agreement Property: Irregular parcel between Ottawa Station, Grand Avenue; Shiawassee Street, river trail on Grand River as shown on Parcels A and B of a drawing that was handed out. Price: $1.99 million n of 80 unit residential Phase I and at least 8 Purpose: Developer—Constructio units Phase 11 Special Terms: . Developer removes BWL building Developer remediates site Time frames to close to be determined by BWL but not later than June 15, 2005 Completion of construction from closing: -Phase I by 27 months -Phase R by 48 months DRAFT—Subject to Board Approval of:112512005 Boaro ,eting November 23,2004 102 Damages for breach of contract: $1 million letter of credit for completion of construction Phase 3 (50%) and Phase II(40%) • Property conveyed to City for$1.00 if construction not commenced within 3 months of closing Contingencies: . Developer must close on the site on or before closing on Triangle Property. Mr. Novak stated that he essentially wanted to provide a briefing on the status of the Triangle Property Agreement to encourage the Commissioners to do nothing at this time with respect to the BWL Coal Storage Agreement. If the Board elects to do nothing, the agreement continues the developer's ability to purchase the BWL parcel, and it can be revisited at a future date. A number of things will be known in January that are not known now, and the most significant is whether the developers have been successful in their ongoing negotiations with the State's Department of Management and Budget for a lease that will be the cornerstone that provides the financial support for this entire project. It may be known by the end of the legislative lame duck session whether the developers have been successful in those negotiations and will go before the Joint Committee on Capital Outlay to get tentative approval of that lease. A follow up repot will be made to the Board in January. Following discussion, the Committee concurred with Mr. Novak's request. General Manager's Fiscal Year 2005 Objectives. The Commissioners had an opportunity to discuss a draft copy of the General Manager's Fiscal Ye 0`h ar 2005 Objectives at a Retreat held October 3and again at the Committee of the Whole meeting held November 23rd, Following discussion and input, this item was referred to the Board for approval (see the "Resolutions" section of the minutes). Employment Contracts. The Committee reviewed proposed employment contracts between the Board and the three Board Appointees; namely, a• Sanford Novick, the Director and General Manager b• Glenn Holloway, the Director of Internal Audit C. Mary Sova, the Corporate Secretary Contractual issues were discussed, and it was determined that the contracts accurately reflect the agreement between the Board and its appointees. The Committee of the Whole recommends that the three contracts be forwarded to the Board for approval. (See the "Resolutions" section of the minutes.) Board Travel Policy. Due to the complex and changing environment, it is essential for Commissioners to be well informed on issues of importance to the utility industry. Commissioners are encouraged to attend seminars, meetings or other programs that provide information impacting the operations of the Board of Water and Light. The present Commissioners' travel policy has been in effect since 1993. The Commissioners had an opportunity to review and discuss travel expense reimbursement practices of other public and non-profit organizations in the Greater Lansing Area and from other member utilities of the DRAFT—Subject to Board Approval on 112512005 ,ard Meeting November 23,2004 103 Draft policies were reviewed; one for the American public Power Association(APP . ointees. The two policies are similar, except Commissioners and another for the three Board App the policies were referred to the Board for for the review process. Following input and revision, approval. (See the "Resolutions" section of the minutes.) sponsorship package for the Common Ground Sponsorship. Staff preseBnti overview Of o ned as a sponsor of the Common Ground the Common Ground Festival. Last year theJ sitive. The sponsorship package Festival for the first time. Results of that`sponsorship�'c e pProv der of the Common Ground will continue to identify the BWL as the official Electricity hrou throughout the festival venue, and the Festival." It will also include customer B amend f etival advertising. Board approval is BWL's name included in program guides event. See"General Manager's Recommendations" section recommended for this community' of the minutes.) lows the Tonal Achievement Award. The current Exceptional plo ees an Award o chievement Award reccognize Except g Unit employees General Manager to grant nominated Non-Bar arcing p y in achievement. The policy has not been modified�or eneral Manager° s inception in outstaredg reviewed since i s the mid-1980's. Board approval is recommended. (See the G Recommendations" section of the minutes.) group of Defined Benefit Plan. General Manager Novick reported that he recently met with a gr p their monthly breakfast. An issue of great concern to retirees is the discussion that has retirees at articular, the sharing of health insurance been ongoing in regards to health insurance and, in p to them that there premiums. When he met with the retiree group this month,he Board withexpect to t retiree health nothing in the works for a recommendation to come tote growing insurance premium sharing. He also told them that the cost of ck also committed to them that 1n p problem, which management will continue to evaluate. ement will first communicate if it is determined in the future that something must be done, asolutions. An upcoming with the retirees to review the financial implications and possible e rising cost of health care will appear in the BWL's pbrreakfas ill article on the g are aware of the articulate this concern so that retirees who were not present at the issue. Another issue of the pension plans is a sense among some retirees that a commitment has been are retired and are in the made to evaluate every three years for pension increases to those Who he DB Plan,those retirees Defined Benefit (DB)Plan. He stated that if anything is done w C plan. Also,if are being treated differently than those under the Defined Contribution(DC)e coming from the DB improvements are made to retirees under the DC Plan,VEBAS He noted thaars will t the actuarial study for p plan,which will no longer be available to fund the minutes the DB Plan clearly indicates there is no ongoing commitme his�'search commitment•Allegedly did not find a Board resolution that described or authorized t there is nothing a commitment was made in the 199M 9 Novick st t d thatcontract this s a complicated matter that carries mentioned in the current contract. ested lacing this item on with it a great deal of financial implication for the rate payers. He sugg P DRAFT—Subject to Board Approval ou 112512005 Board_ .eting November 23,2004 104 a future Committee of the Whole agenda. A formal report addressing these issues will be prepared by staff for discussion. There being no further business, the Committee of the Whole adjourned at 5:29 p.m. Respectfully submitted, Ron Callen, Chair Pro Tem. Committee of the Whole Motion by Commissioner Callen, seconded by Commissioner Haggart, to receive the report. Action: Carved unanimously. p MANAGER'S RECOMMENDATIONS Background materials on items presented are on file in the Office of the Corporate Secretar y. esolution°2004 l l=S A. EARLY RETIREMENT AND SALE OF EAST LANSING SUBSTATION BUILDING AND PROPERTY AND SUBSEQUENT REQUIRED INCREASE IN FY 2005 CAPITAL BUDGET WHEREAS, the current Board of Water and Light(BWL) Capital Budget includes a proj the retirement of East Lansing Substation starting in FY2005 with completion in FY 008eand r upon retirement the substation and property will no longer be needed for BWL operations and considered surplus; and WHEREAS, the BWL property disposal procedure specifies that local units of government be given first rights to purchase surplus properties at an amount equal or greater than the appraised value; and pp WHEREAS, the City of East Lansing, Michigan agrees to purchase the BWL East Lansin Substation building and property at the appraised amount of$115,000, and g WHEREAS, the City of East Lansing seeks possession of the substation building and property inFY2006 and agrees to reimburse the BWL $90,000 as the calculated costs associated with the BWL expediting the East Lansing Substation retirement; and WHEREAS, the funds included in the Fiscal Year 2005 Capital Budget for Planned Projects f the retirement of the East Lansing Substation Project needs to be increased to support the or requested early retirement schedule, RESOLVED, That the Board of Commissioners hereby moves that upon execution o an agreement between the City of East Lansing and the Board of Water & Light, approves the earl retirement of the East Lansing Substation, declares the Substation building ro ing and y property as DRAFT—Subject to Board Approval on 112512005 . ward Meeting November 23,2004 105 surplus and no longer required for n to Operations upon completion of the retirement project, approves the sa le- of the Substation to the City of East Lansing o dsauthorizes dite $he0ea0Y increase in the Fiscal Year 2005 Capital Budget for Planned retirement of the Substation. he area Staff Remarks. East Lansing Substation is a 4160V substation serving distributionacircuits Michigan e Ave. between Harrison Rd. and Abbott Rd. The substation an ears of service. Replacement equipment for the substation continueereliable servicet . to obtain in a 70 y q upgrade t to obtain and the aging distribution circuits require an upgr Retirem ent of the substation will result in the 4160V circuits being converted to 13.2kV. Motion by Commissioner Wonch, seconded by Commissioner Callen,to approve the resolution. Action: Carried unanimously. UND esolution 2004 I1 B. CORPORATE SPONSORSHIP OF COMMON GRO VED That the Board of Water &Light agrees to f atcorporate ears 2005 through 2007. RESOLVED, year for Y Ground Festival at a sponsorship level of$5,000 per Y nunon Ground Festival for the Staff Remarks: Last year the BWL joined as a sponsor of the Co with first time. Results of that sponsorship were extremely positive,with the BWL, along f General Motors,being recalled most frequently as a sponsor of this even ElectricityProvider cial e sponsorship package will continue to identify the BWL all includs the ecustom BWL signage The p other thing , of the Common Ground Festival." Among ides and festival throughout the festival venue, and the BWL's name included in program guides advertising. to approve the Motion by Commissioner Wonch, seconded by Commissioner Duncan, pP resolution. Action: Carried unanimously. Vo solutio 1100441-7 C. BOARD MEETING SCHEDULE FOR CY 2005 laces Procedure, a schedule of dates, In ac cordance with the Board's Rules the Board for e Administrative calendar year shall be adopted by the and times for each regular meeting of th Board in November. ar meetings of the Board of Commissio ate conflict s set for calendar RESOLVED,That rel ware hereby i h rescheduled year 2005 as follows,unless otherwise notified or as a result of City Council meetings: DRAFT—Subject to Board Approval ou 112512005 Boars,_ _eeting November 23, 2004 106 2005 Tuesday January 25 Tuesday March 22 Tuesday May 24 Tuesday July 26 Tuesday September 27 Tuesday November 22 Meetings will be held in the Board Room located in the Board of Water and Light Custome Service Center, 1232 Haco Drive, Lansing, at 5:30 p.m. r RESOLVED FURTHER, That a notice of the meeting schedule be published in the Lansin State Journal the week of January 9, 2005. g Motion by Commissioner o a Wonch, seconded by Commissioner Duncan, t approve pp ve the Action: Carried unanimously. esolution 2004=11 D• AMEND EXCEPTIONAL ACHIEVEMENT AWARD FOR UNIT EMPLOYEES RLAON-BARGAINING RESOLVED, That the financial worth of the Exceptional Achievement Award be amended reflect a maximum award amount of$2,000. to FURTHER RESOLVED, That the General Manager is authorized to develop all rocedure necessary for its implementation. p s Staff Remarks: The current policy allows the General Manager to grant nominated non- bargaining unit employees an "Exceptional Achievement Award"to recognize outstandin achievement. Nominations are made annually by Managers and Directors, generall in g December, and awards are worth up to $1,000 each. The policy has not been modified or reviewed since its inception in the mid-1980's. The amendment would increase the value of the "Exceptional Achievement Award"to a maximum of$2,000 each, an amount that gives significance and recognition to outstanding performance. g greater Motion by Commissioner Wonch, seconded by Commissioner Duncan, to approve resolution. pp ve the Action: Carried unanimously. DRAFT—Subject to Board Approval oil 112512005 and Meeting November 23,2004 107 UNFINISHED BUSINESS No unfinished business NEW BUSINESS s of replacing lead pipe and the CSO project. Commissioner Calkins inquired about tht shin the process of preparing a progress report on er Novick reported that staffmeeting. Initial General Manager resentation to the Board at the January the past construction season for p se from the ason will be Lead Task Force Committee for the next ardin�cction minuni ations recommendationsdiscussion followed regarding presented for concurrence. Lengthy SO project and lead pipe replacement issues. MraN nith S°iduee Board eaa involving the C p > >s public Service Committee last y when he met with the City cn with a ommitment tha t staff would come back to them at the end of the construction that others have ochos n s project status report. Commission on tolth noted that ao erratic al issues, which often magnifies the problem. fference in to use public venues to bring attention p the It is essential to reiterate to all involved parties the importanceand placing tasdmgthat come to the policy versus management and operational responsibilitiescal of management and the Board is to work forefront in the proper e best interests of the utility.he g toward serving th Commissioner Wonch left the meeting at 6:05 p.m. RESOLUTIONS esolutior 2004-1'1- AL RESOLUTION ON EMPLOYMENT CONTRACTS FOR DIRECTOR,INTERN AUDITOR, AND CORPORATE SECRETARY to fill the following Board of The Lansing City Charter directs the Board of whhall be responsible for carrying out the Light positions by appointment: 1) a Director, an Internal Auditor, who shall duties assigned by the Board, and shall serve at its pleasure; 2 a own Secretary who shall be report directly to the Board, and serve s t its pleasure; and 3) its responsible to the Board and serve at i p employment contracts for the three Pursuant to the Charter, the Board has reviewed the con yin and has s has had an opportunity to discuss the contractual issues and therefore: appointed positions, that the contracts reflect the agreement between the Board and its appointees, IT IS HEREBY RESOLVED: d and Sanford Novic�oo e Director and General That the employment contract between the Boar nded to August 17, Manager, is hereby approved as amended and exte DRAFT—subject to Board Approval on 112512005 Board.._eeting November 23,2004 108 That the employment contract between the Board and Glenn Holloway, the Director of Audit, is hereby approved through June 30, 2005. Internal That the employment contract between the Board and M hereby approved through June 30, 2005. Mary Sova, the Corporate Secretary, is IT IS FURTHER RESOLVED, That the contracts for the three appointed positions be file with the Board of Water and Light's Human Resources department. placed on Motion by Commissioner o approve Duncan, seconded by Commissioner Joseph, t resolution. pprove the Action: Carried unanimously. es"oluton 2004 11- TRAVEL EXPENSES FOR COMMISSIONERS AND BOARD STAFF APPOINTEES WHEREAS, the Board of Water and Light operates in a hi hl c rapidly changing environment, and g Y ompetitive, complex, and WHEREAS, the Board of Water and Light desires Commissioners and Appointees and consider for implementation those best practices which will benefit ratepayers; and to identify WHEREAS, attendance at conferences, seminars, meetings and other programs is es obtaining knowledge of best practices; and sential to WHEREAS, the Board of Commissioners desires to establish guidelines such educational events, and has had an Opportunity for deliberation of proposed Policies " gu lines related to attendance at Expense — Commissioners" and "Travel Expense — Board Appointees" dated No Travel 2004. November 23, RESOLVED, That the Board of Commissioners hereby approves the proposed olicie) be placed on l RESOLVED FURTHER, That the proposed policies(Exhibits 1 and 2 policies. Corporate Secretary. e with the Motion by Commissioner Joseph, seconded by Commissioner Duncan to approve pprove the Action: Carried unanimously. esolution 2004=11-'I ; GENERAL MANAGER'S FISCAL 2005 OBJECTIVES WHEREAS, the Board of Commissioners has met with the General Manager to mute establish his performance objectives for Fiscal Year 2005. ally DRAFT—Subject to Board Approval 0,1112512005 _,,ard Meeting November 23,2004 109 the D That the Fiscal Year 2005 Performance Objectives for Sanford Novick, RESOLVE Director and General Manager, are hereby approved. FISCAL YEAR 2005 OBJECTIVES: Ensure that da -to-da o erations of the BWL meet b reliability Measures.needs: • Maintain or improve current BWL • Achieve the Corporate Balanced Scorecard objectives.unforeseen outages or service disruptions. • Promptly address and resolve any Effectively Ian for the future of the BWL: • Finalize the BWL strategic Plan- • Present 6-year financial plan and achieve Board concu of,thestrategicaplan Insure that financial plan is consistent with, and supportive • Insure readiness to participate in &SO market initiativeess,which begin March 2005,to insure that BWL customeness of current and poten are benefited and not tial environmental• d. issues. Study and promote aware 1 needs and • Initiate an Integrated Resource Plan study to look at future p ower supply sources. p plans by Sr.Vice Presidents and Directors. Continue to require u dates to all succession Take concrete steps to address and improve em to ee concerns: with to ees. Implement at least two new initiatives to impro and communications n is pate potential issues. • P • Regularly meet with union leadership to address Improve safety performance. • implementation of diversity training throughout the organization. • Continue imp training. • Enhance and improve supervisory tation_f tile.plan: Finalize plan to re lace lead services and Onl be n activini rt esnn this area, as well as any related Keep the public informed about BWL issues. ear re lacement goal, or to improve Insure that the plan stays on target to meet 10-y P upon that goal if possible. Take conc rete steps to address 3roblems associated with existinp wholesale water contracts. Im rove customer communications: Develop and implement a pro-active public edateBstrategy iactivities anticipate those customer issues and concerns and effectively commumca concerns. Develop a Crisis Management Plan for use in response to negative media coverage. Motion by Commi ssioner Duncan, seconded by Commissioner Calkins, to approve the resolution. Action: Carried unanimously. DRAFT—Subject to Board Approval on 112512005 Boara_.,eeting November 23,2004 110 GENERAL MANAGER'S REMARKS Financial Report. Senior Vice President of Finance Dennis McFarland review report for the fiscal year-to-date ended October 31, 2004. Year-to-date actual results compared to budget are$200,000 under budget. Actual bud reviewed the financial to the budgeted amount of$7.3 million. Items eted o accountin f . ill g operating income came in at$65mmillion budgeted and actual operating income include: g or the variance between • Effect of lower retail electric sales, offset by higher wholesale, decreased$/M • Water sales are down by 10% from prior year and 8% under budget WH • Union contract settlement—retroactive payment Labor—net amount under budget becau of unfilled positions in original budget positions due to delays being addressed in Human Resources • Refunds on life and health insurance premiums will be a plus Timing differences involve higher$/MWH retail revenu O&M expenses for material and outside services and e, increased fuel, and purchased power(ECA , the net effect of The year-to-date net income is $157,000 lower from the ) are 1% over budget. He reviewed certain pending items that are texpec expected from thishile expenses Year forward and noted that if they all happen, the revised net income would result in$5 million. United Way Report. Calvin Jones, co-chair of the BWL 2004 United Way Cam that the BWL campaign goal was $96,000 and the employees of the BOf co reported $96,652.85. A cookout that was recently held at BWL helped to raise $1,335.25 of the projected contributed goal. Mr. Jones acknowledged the BWL leadership team members that assisted with campaign: BWL campaign co-chair Jim Dravenstatt-Moceri, Joe Davis, Jan Sim she CAUW Gilbert, Arne Weller and Mark Dykema. He expressed appreciation to the em 1 p ' generous Nancy oye p es g contributions to give back to the community. Environmental Issues. Nick Burwell of Environmental Services presented an overview history of the Clean Air Act. The Air Pollution Control Act of 1955 identified aipolti on the problem. The Clean Air Act of 1963 focused on station air pollution as a and steel mills. The clean Air Act amendments in 1965, 1966S 1967Sande1969all power plants on auto emissions and other stations. gher paced deadlines sources were imposed by the Clean Air Act of 1970.uAir quality�toxi ds �a station and ozone standards were included in the Clean Air Act of 1990. ' and mobile it pollutants, acid rain Mr. Burwell discussed when an old source is considered new. New Sources ar strict emission limits, often requiring the best available control technology available sources have less restrictive requirements. In November e required to meet ing utilities, alleging, in part, that Best Available Control 1999, EPA fig d suit aagainst xseven under New Source requirements. In addition Control Technology (BACT) was not installed Tennessee Valley Authorit . Administrative Order was filed against y Mr. Burwell reviewed United States district Court opinions on DRAFT—Subject to Board Approval oil I11512005 ,_,ard Meeting November 23,2004 111 Requirements for Ohio Edison, Duke Energy, and Tennessee Valley Authority. He New Source Require published the Equipment Replacement Rule, which further reported that in October 2003, EPA p me EPA continues to ' elines for maintenance versus New Source. Beforean�he new rule could take set out objective guid the elines power effect, in December 2003 the D. C. Circuit exaarnple, Westar Energy and East Kentucky issue notices of violation to utilities, in the country has concerns over the Cooperative. Mr. Burwell said that every coal-fired utility continue to be implementation of New Source review versus routine maintenance,lreplacement ill o and repair. General Manager Novick reported than di a regular ions on environment brought to the Board at future meeting COMMISSIONERS' COMMENTS he Commissioner Ca lkins suggested that Internal Auditor Glenn Holloway contact ies tand costs. This travel management consulting finnchinnfnarnopally acceptedatiOrl on travel limits for travel expenditures. information will be useful in researching ABSENCES Commissioner Duncan and seconded by Commissioner Smith, that Commissioner On motion by Comm be excused Wonch's early departure (left the meeting at 6:05 p.m.) Carried unanimously. PUBLIC COMMENTS ree clarified that the letter he sent to the Board the BWL Retirees Club. Max Zemer, BWL reti , to the Defined was sent on behalf of the RmplosePension eswi ched from the Defined d Benefit (DB) oadjustments He also noted that when employ1 to Dst Plan plan, J Contribution (DC) Plan, it was made clear that adjusnce tment apply longer take place. The three-yearJ er belong to BWL. Mr- would no long to the DC Plan, those funds no long Mr- participants. Thus, by switching DC lap participants have total control of their funds to make or lose whatever Zemer said that p the market provides. retiree, stated that the Retirees' Pension and Benefits(FOI�questee r for l any Ron Byrnes, Bned WL reti , of Attorney James A. White as a result of a Freedom benefitsmfotroBWL retirees and/or written legal opinions received by the BWL concern gexemption On ce to or from any consultant. The FOIA was wana assurance that the BWL's attornased on an ey-client M Byrnes stated that the group attorney-client privilege. eements mentioned earlier in the meeting under ders the historical agr t." He reiterated that the retiree benefits issue bues.solved at BWL in- outside counsel cons'Public Conunen house. The retirees are looking for dialogue with staff to resolve,t retiree breakfast at retiree,reported that General Manager Novick attended the Dick Sevic, BWL job in .responding to is invitation. Mr. Sevic said that he thought Mr. Novick did a nice h DRAFT—Subject to Board Approval ou 112512005 Boars_..eeting November 23,2004 112 questions raised by retirees. Mr. Sevic also emphasized the importance for BWL man maintain good dialogue with the retirees and doing what is best for everybody. agement to General Manager Novick stated that when he met with the retirees at Y reakf committed to come back every time the retirees invite them. Staff committed toast ado e and staff nothing as far as health insurance until they talk with the retirees first. The Commissioners expressed an interest in reviewing the resolutions referenced by the retiree group. Chairperson Smith stated that there seems and lto be al information from management and the retiree group communicate directly without the intervention at this time. This issue will be dicussed again b the an expression necessity of legal Y Commissioners in January. ADJOURNMENT On motion by Commissioner Calkins, seconded by Commissioner Joseph, the at 7:07 p.m p meeting adjourned Isl Mary E. Sova, Secretary Draft Filed with Lansing City Clerk December 9, 2004 DRAFT—Subiect to Board Approval oil 112 51 2 0 0 5 EXHIBIT 1 policyNumber: C Policy Name:Travel Expense-Commissioners Replaces Policy Number: NEW WATEK3«LIGHT SCOp e: Board of Water&Light—Board of Commissioners p Effective Date: ve Board of Commissioners Responsible Agent.: Review/Revision Date(s): November 23, 2004 environment, it is essential for Commissioners to be well ed to attend Due to the complex and changing ce to the utility industry. Commissioners are encouraged t operations attend the Objective informed on issues of imp ndustinformation impacting the seminars, meetings, or other programs that provide Board of Water and Light. policy shall apply to all Board of Water and biehotNCommissioners.The Board of Water and This po y expenses as outlined Scope Light will pay or reimburse inars will be expenses for training, meetings, conferences oor Sams will also be Registration fees or similar Re istration Fees reimbursed. If the Commissioner brings a guest, registration fees for guest p 9 9 reimbursed. accompanied by a Actual expenses of lodging will be reimbursed. In the event a Commissioner is aycomp the Board of Water andLi only agenciesrs When make at the ing lodgingte. Lodging guest or family members, non-profit and/or governmental Many hotels offer discounts to arrangements this discount should be requested. TransTrans_p0n.. special features will Transportation . Commercial airline or rail travel will be reimbursed for coach class seating. • Rental car will be reimbursed for convertibles, four-wheel drive or lu-si ze automobiles or lxury vehicles.sp not be reimbursed, such as c •Taxi, bus, or shuttle costs will be reimbursed. will reimbursed. a rate, not to exceed the . Airport and garage parking •Personal autos used f ri busine foss a will be distant reimbursed at the IRS mileag applicable coach rate arfare Reim ill bursement will be made based on actual documented areas where the Board Water and costs, but will not exceedd nationally Meals accepted limits of corporate expenditures for geographical Light business is conducted. The Board of Water and Light will not reimburse the following expense: Non-Reimbursed . Personal expenses not associated with Board of Water and Light business. Expenses guest program registration •Alcoholic beverages. . Guest travel expenses (Board of Water and Light will only reimburse fees). Expenses greater than $50 per Substantiation Possible. expenditures (gratuities, Requirements day will no obed reimburseddwithout anitoe ginal erece pt. Miscellaneous to the $5( per day day etc. without receipts will be reimbursed up parking, baggage handling, ) expenditure must be documented. maximum, but the location, date and a description of the exp es must be summarized on a travel form,ew and approval. receipts or descriptions attached All substantiate expenses, and submitted for revs to substantiate the exp orate Secretary for Approvals to the Board's Chair for approval. The Board's Chair will submit A Commissioners must submit a travel form with substantiation to the Corporate pp review, who will then forty roval. The designated approval his/her own travel expenses on a travel form with substantiation to the Corporate Secretary o his an expense that review, who will then forward i ng additional Vice and for disallowing Y p person is responsible for obtaining this olic Travel forms and all substantiation will be sent to does not meet the requirements of iling y General Accounting for processing and f e waived or overridden, except by Board resolution. This policy may not b Waiver EXHIBIT Z Policy Number: BA Name:Travel Expense— Board Appointees Replaces Policy Number: NEW Policy Scope: Direct Reports to the Board of Commissioner wAT� �rG1}T Effective November 24,2004 Chairperson Effective Date: and the Board Ow. Responsible Agent: General Manager2004 Review/Rev ision Date(s): November 23, d be for Board of Water and Light business. appointees is necessary an Manager, Internal Travel by Board app appointees: the General pay reimburse Objective i to the following Board app Light will p Y This policy shall apply The Board of Water and Auditor, and Corporate Secretary. Scope expenses as outlined below. s, conferences or seminars will be Me nest programs will also expenses for training,registration fees for g Registration fees or similar brings a guest, Registration Fees reimbursed. If a Board appointeeappointee is accompanied be reimbursed. le room expenses of lodging ht will only reimburse th�eg making will be reimbursed. In the event a Boar aeimbures. Actual exp rofit and/or governmental agencies. Lodging by a guest or family members,the non pWater and Lig g hotels offer requested. rate. Many lodging arrangements this discount should be re Transportation: specialith features _ ze automobiles or smaller. Curs vehicles. ion dal airline or rail travel will b sleimbursed for coach class seating. Transportat . Comme . Rental car will be reimbursed for mid will not be reimbursed, such abconvertibles,four-wheel drive or exceed .Taxi, bus, or shuttle costs will a rate, not to parking for vehicles will be reimbursed. . Airport and garage reim . Persona l autos used for business will distant tr p ed at the IRS mi eag all the applicable coach rate airfare o based on actual documented areas where will the Board oaWater and orate expenditures for geographical Meals Reimbursement will be made accepted limits of core Light business is conducted. not reimburse the ing expense: The Board of Water and Light Will with Board of Water wand Light business Personal expenses not assoc guest program Non-Reimbursed Alcoholic beverages. Board of Water and Light will only reimburse Expenses Guest travel expenses registration fees). possible.ttenever Expenses greater than $50 enditures original receipt. Miscellaneous eXto the $50 Receipts should be a btained and reimbursed without dan bout receipts will be reimbursed it p t must be Substantiation per day will not b baggage handling, etc.) wit description of the exp (gratuities, parking, but date and a Requirements per day maximum, but the location, documented. be summarized on a travewith original receipts or descriptions I form, royal. All expenses sbstantate the expenses, and submitted for review and approval. he $0ard's Chair for attached to substantiate al Manager Corporate Secretary must submit travel fore son'is er er must submit n travepform with substanti ° approval p not th The Gen royal. The designated ense that does approval. The internal Manager for approval- an expense Approvals substantiation to the responsible for obtaining additional information and for disallowing 0 olic . Travel forms and all substantiation will be sent to Genera me requirements of this p Y meet the req and filing• Accounting for processing exce t b Board resolution. Waiver Re uirements of this olic ma not be waived or overridden, Page 68 PRELIMINARY—SUBJECT TO BOARD APPROVAL ON NOVEMBER 23, 2004 MINUTES OF THE BOARD OF COMMISSIONERS' MEETING LANSING BOARD OF WATER AND LIGHT - Tuesday, September 28, 2004 The Board of Commissioners met in the Boardroom of the Administrative Offices, 1232 Haco Drive, Lansing, Michigan. Present: Commissioners nary L. Calkins, Ronald C. Callen, Nancy W. Duncan(arrived at 6:00 p.m.), Ifield Joseph, Santiago Rios, Robin M. Smith and Nancy Wonch. Absent: Commissioner Tim Haggart The Secretary declared a quorum present. Chairperson Smith called the meeting to order at 5:30 p.m. APPROVAL OF MINUTES Motion by Commissioner Callen, seconded by Commissioner Haggart, to approve the minutes of the regular Board meeting held May 25, 2004. Carried unanimously. PUBLIC COMMENTS THE CHAIR ANNOUNCED THAT MEMBERS OF THE PUBLIC ARE WELCOME TO SPEAK TO THE BOARD ON ANY AGENDA SUBJECT OR ON ANY OTHER STJBTECT NOW, OR AT THE END OF THE MEETING. Joseph Davis, President of IBEW Local 352 thanked Commissioners Smith and Rios for attending the most recent bargaining session. He reported that a tentative agreement has been reached. The reading of the contract will be Thursday, October 7 and the vote will be held on Wednesday, October 13. Mr. Davis expressed his support for the joint meeting scheduled between the Board and City Council on October 5 to discuss concerns raised by employees. DRAFT—Subject to Board Approval on 11123104 69 Board Meeting September 28,2004 COMMUNICATIONS Received a letter of support from BWL Executive Staff and those reporting to the General Manager expressing concern with misconceptions involving the job performance of Sanford Novick. Received and placed on file. COMMITTEE REPORTS Ikesolution 2004-9-1 COMMITTEE OF THE WHOLE REPORT Present: Commissioners Calkins, Callen, Duncan, Haggart, Joseph, Rios, Smith and Wonch. Absent: None. The Committee of the Whole met on August 26, 2004 at 8:00 a.m. to consider applicants for the position of Director of Internal Audit of the Board of Water and Light and to make a recommendation for appointment. The Committee met with the top three candidates being considered for the position. The Committee of the Whole recommends the appointment of Glenn Holloway for the position of Director of Internal Audit in accordance with Article 5, Section 5-202.2 of the Lansing City Charter. This appointment is effective October 4, 2004 and through the remainder of fiscal year 2004-2005, or, until a successor is appointed, whichever last occurs, as specified in the Board's Rules of Administrative Procedures. The Committee authorized the Board's Executive Committee and Human Resources staff to pursue negotiations with Mr. Glenn Holloway. There being no further business, the Committee of the Whole adjourned at 3:45 p.m. Respectfully submitted, Ron Callen, Chair Pro Tem Committee of the Whole Motion by Commissioner Callen, seconded by Commissioner Joseph, to approve the report and the appointment of Glenn Holloway as Director of Internal Audit. Action: Adopted by the following vote: YEAS: Commissioners Callen, Calkins, Duncan, Haggart, Joseph, Rios, Smith, and Wonch. NAYS: None ABSENT: None DRAFT—Subject to Board Approval on 11123104 Board Meeting September 28,2004 Commissioner Wonch noted that Commissioner Haggart was unable to attend the Board meeting; consequently, she would be presenting the following Human Resources Committee Report on his behalf. [Resolution,2004=9-2 HUMAN RESOURCES COMMITTEE REPORT Committee Members Present: Haggart, Calkins, Rios, and Wonch. Other Commissioners Present: Callen, Joseph, and Smith The Human Resources Committee met on September 16, 2004 at 3:30 p.m. to review and discuss the following items: 1. Pension Investment Guidelines 2. Quarterly Pension Report 3. Performance Appraisals for the General Manager and Corporate Secretary 4. General Manager's Contract Public Comments: Mike Stanley of Maintenance and Construction Resource Center (MCRC), IBEW Local 352 and Chief Union Steward, reminded the Commissioners that the Bargaining Unit employees do not have a contract and have not had a contract for almost eleven months. Pension Investment Guidelines. Sr. Vice President of Finance McFarland reported that at the April meeting, staff gave a presentation regarding management of the BWL Defined Benefit Pension Plan and the prudence of enlisting the assistance of an outside consultant on that fund on a going forward basis. The committee was advised that management was in the process of reviewing responses to an RFP to select a consultant. In July, management selected LCG Associates of Atlanta and in August began the work of having them assist staff in the performance evaluation of the Defined Benefit Plan. He introduced Richard Babcock, Senior Vice President of LCG Associates who presented an overview of LCG Associates. Mr. Babcock reported that LCG Associates is exclusively an investment consultant to institutions and they are registered with SEC under Act 40. They were founded in 1973, making them one of the oldest independents in the tinted States. The firm is headquartered in Atlanta with offices in Dallas and Charlotte. Client service is something of which LCG prides itself, with an average of 11 clients per consultant, and they mandate a limit of 12 clients. The firm is 100% employee owned with 9 principals. LCG is financially stable and debt free. Mr. Babcock noted that LCG has no conflicts of interest; they do not manage money, nor do they accept commissions or compensation of any type from anyone; and they have one of the largest proprietary databases in the United States for free. Several Commissioners requested that a copy of LCG's Code of Ethics and its procedures for selecting and recommending investment managers be provided to them. DRAFT—Subject to Board Approval on 11123104 71 Board Meeting September 28,2004 Mr. Babcock summarized the performance of the Defined Benefit Fund through the second quarter of 2004,which included charts and graphs for the following: ■ Total Fund Allocation ■ Distribution of Assets ■ Performance Summary ■ Comparative Performance ■ Total Fund Performance ■ Total Fund Five-Year Return vs. Risk ■ Equity Sector Allocation ■ Equity Allocation ■ Equity Performance ■ Fixed Income Sector Allocation ■ Fixed Income Allocation ■ Fixed Income and C&E Performance ■ Other Assets Performance Mr. Babcock presented an asset allocation and portfolio construction analysis. He reviewed the following: ■ Historical Broad Asset Class Returns ■ Long-Term Rates of Return by Decade ■ Risk/Retum Analysis 1926-2003 ■ Diversification: Modern Portfolio Theory ■ Alternative Investments: Diversification Opportunities ■ Style Trend Overview ■ Typical Portfolio Characteristics ■ Risk/Retum Analysis 1970-20031'2'3 ■ Domestic and International Equity Observations ■ Historical Performance Differences ■ Risk/Return Analysis for Domestic and International Equity ■ Fixed Income Observations ■ Recommended Asset Classes ■ Historical and Expected Asset Class Risk and Returns ■ Potential Asset Allocations ■ Recommended Target Portfolios Risk/return Analysis The Committee was asked to convey their sense as to where they would be comfortable regarding various proposed asset allocations. Mr. McFarland noted that staff is not ready to make a recommendation to the Board at this time. He said that it is staff s sentiment, based on the work completed to date, to recommend that the asset allocation listed in examples 2 and 3 be considered, which represents about a 65/35 equity/debt allocation. Staff plans to present a formal recommendation to the Board in November. Subject to that approval, staff would start to move toward that asset allocation in a measured fashion. Mr. McFarland noted that staff is not DRAFT—Subject to Board Approval on 11123104 Board Meeting - September 28,2004 comfortable staying with the current 50150 asset allocation that was approved five years ago. More work needs to be done and Commissioner feedback is important at this stage. Following lengthy discussion, the Committee concurred to move somewhere between examples 2 and 3 as listed on page 21 of the Potential Asset Allocations page of the LCG Asset Allocation and Portfolio Construction Analysis, dated September 16, 2004. Performance Appraisals for the General Manager and Corporate Secretary. Committee Chair Haggart announced that the General Manager and Corporate Secretary have requested that their performance appraisals be conducted in closed session as permitted under Section 8 of the Open Meetings Act (MCL 15.268 regarding closed sessions and permissible purposes). BWL retiree Max Zemer of 527 Edison, Lansing, interjected to request that the Commissioners allow public comment before convening in closed session. Upon concurrence by the Commissioners, Committee Chair Haggart waived the order of business to permit public comments. Public Comments: Joseph Davis, President and Acting Business Agent for IBEW Local 352, commended City Councilmembers for their willingness to work with both sides of the union dispute to address an issue that is important to the entire City. Mr. Davis said that at a time when Lansing is facing so many challenges, including a tight budget and the lead pipe cleanup initiative, a mutual respect and teamwork approach is critical to success. He stated that City Council seems committed to finding a reasonable solution that will satisfy the working families while staying within BWL's financial means. The union is hopeful that BWL Commissioners and management can equally commit themselves to the spirit of cooperation and partnership that is necessary at this time. Mr. Davis handed out a written statement outlining union concerns. A copy is on file in the Corporate Secretary's Office. Ron Byrnes, member of IBEW Local 352, and BWL employee, stated that the BWL has become anti-worker and anti-union under the current management leadership. He cited two examples, which involved the union's right to participate on a safe drinking water task force and management questioning the use of their bulletin board to place a notice of today's meeting. Dewayne Williams, a member of IBEW Local 352 and BWL employee for 17 years, spoke about an incident that he brought to the attention of General Manager Novick a year ago. He was told there would be an investigation, and to date he has not heard back. Dan DeYoung of 2315 S. Pennsylvania Avenue, Lansing, and retired from BWL, commented about the recent news article regarding Mr. Novick applying for a job at another utility. He also expressed concern about the possibility of retiree benefit co-pay. DRAFT—Subject to Board Approval on 11123164 73 Board Meeting September 28,2004 James Hooker, a member of IBEW Local 352 and BWL employee, stated that in early August he received a letter from BWL in regards to the latest management proposal delivered to the union. He questioned the spirit of the law and said he was shocked it happened and did not appreciate it. Alberta Tucker, a member of IBEW Local 352 and BWL employee, commented about the newspaper article regarding Mr. Novick's explanation as to why he was considering a job elsewhere. She stated that union employees also owe a better life to their families. She noted that a happy worker is a productive worker. Doug Zimmerman, a member of IBEW Local 352 and BWL employee for 35 years, stated that he has never seen employee morale as low as it is now. Ron Byrnes Sr., retired from BWL, stated that in January of 2004, the retirees of the defined benefit plan were to be considered for a cost of living increase on their pension. He noted that ten months have elapsed and retirees have not heard regarding the status of this matter. He requested an answer as to when this issue will be addressed. Max Zemer, retired from BWL with 37 years of service, stated that while at BWL he served as the IBEW Local 352 Business Manager. He noted that he is a third generation employee of the BWL and is proud of that. Mr. Zemer shared his observation that relationships between management and the union over the last three years seem to have deteriorated. He spoke about mutual respect, and urged every level of the organization and the Commissioners to consider the consequences of concerns brought before the Committee today. He reminded that the employees support this community. During outages, they are out there without question and sometimes in the most dangerous situations doing what is necessary to bring services back to this City. He stated that if those actions are not the result of pride and integrity, then he does not know what it is. Dan Laverty, member of IBEW Local 352 and BWL employee for about five years, stated that while the union is working without a contract, Mr. Novick is here today to settle his employment contract. Ron Corden, member of IBEW Local 352 and BWL employee, stated that he works the midnight shift at the water plant. He noted that he is a hometown person, born and raised in Lansing and spoke about his involvement in the Lansing community. He added that the employees care about this community. He further stated that bargaining employees want a fair and equitable contract. Steve Cronk, member of IBEW Local 352 and BWL employee for over 39 years, stated that his father had about 44 years of service at BWL, which adds up to over 80 years of combined family service. He stated that he is unable to figure out what the stumbling block is to settle the agreement. He urged the Commissioners to exercise their leadership to bring about a quick settlement. Mike Dikeman, member of IBEW Local 352 and BWL employee, commented that Mr. Novick has been without an employment contract for one month and now the Board is ready to settle his contract when the union has been without a contract for almost 11 months. DRAFT—Subject to Board Approval on 11123104 Board Meeting September 28,2004 Closed Session: The Committee convened in closed session at 5:25 p.m. to discuss the performance appraisals for the General Manager and Corporate Secretary as permitted under Section 8 of the Open Meetings Act (MCL 15.268 regarding closed sessions and permissible purposes). Open Session: The Committee returned to open session at 6:39 p.m. Commissioner Rios commented that the Committee engaged in lengthy discussion during closed session regarding the reappointment of the General Manager. He noted that the Commissioners are very cognizant of concerns expressed by bargaining employees regarding the union contract. He stated that the Commissioners want to assure union members and members of the public that they will be working very closely with General Manager Novick to develop a strategy and a list of specific objectives, including a quick resolution of the union contract. Commissioner Wonch added that settlement of the union contract is a top priority for the Commissioners. She echoed the comments made by Commissioner Rios and the fact that she sympathizes and empathizes with the employees to make sure they understand that the Commissioners have heard what has been said and that they will diligently work to resolve the outstanding issues. Commissioner Smith thanked the employees and members of the public who came to the meeting to give comment. She gave assurance that they have been heard and that the Commissioners and management value the work they do and look forward to employees completing many more years of service at BWL. She echoed the comments made by Commissioners Rios and Wonch. She stated that the Commissioners' number one priority is to settle the union contract. Upon lengthy discussion, the Committee recommended the following: esolution 2004-9-3� Reappointment of Charter Staff Positions The Board's Rules of Administrative Procedures specify that the Board is to appoint a Director and General Manager, Corporate Secretary, aiid Internal Auditor, respectively, at the first regular meeting in July of each year, be it RESOLVED, That the Board reappoint the following parties to the staff positions of Director and General Manager and Corporate Secretary for fiscal year 2004-2005, or, until a successor is appointed, whichever last occurs: Sanford Novick, Director and General Manager - and- Mary Sova, Corporate Secretary DRAFT—Subject to Board Approval on 11123104 75 Board Meeting September 28,2004 RESOLVED FURTHER, That Sanford Novick's employment contract and reappointment continue beyond the fiscal year 2004-2005 up to and including August 18, 2005, and that his current contract be amended to reflect the salary increase and new contract commencement period. esolution 2004-9= Compensation Increases for the Director and General Manager and the Corporate Secretary RESOLVED, That the Director and General Manager, Sanford Novick, is hereby eligible to receive a salary adjustment effective as of August 18, 2004. RESOLVED, That the Corporate Secretary, Mary Sova, is hereby eligible to receive a salary adjustment effective as of July 1, 2004. RESOLVED FURTHER, That the Board of Commissioners authorizes three percent (3%) salary adjustments for the two positions reporting to the Board, based on evaluation of employee performance over fiscal year 2003-04. There being no further business, the meeting was adjourned at 6:45 p.m. Respectfully submitted, Tim Haggart, Chair Human Resources Committee Discussion: Commissioner Rios stated that he was grateful to be an observer at the latest contract negotiation session and commended management and union members for their high level of professionalism during negotiations. He said that everyone worked hard to make concessions that ultimately resulted in a tentative settlement. He emphasized that BWL is one entity and urged employees to strive forward to make BWL the best company it can be. He suggested that in order to continue the process of compromise and management and the union joining together, it would be in the Board's best interest to table the resolution to reappoint the two Board staff members for at least thirty days. Motion by Commissioner Rios, seconded by Commissioner Smith, to delay action on Board staff reappointments and the approval of the General Manager's employment contract for at least thirty days. General Counsel Cavanaugh interjected on point of procedure. She stated that the appropriate protocol to table a resolution is to first receive the Human Resources Report. Once the committee report is entered into the record, a motion to table the resolution would then be in order. Commissioner Wonch summarized discussion that took place at the Human Resources Committee with respect to General Manager Novick's job performance. She reported that it was DRAFT—Subject to Board Approval on 11123104 Board Meeting September 28,2004 the sense of the committee and other Commissioners present that Mr. Novick had achieved the vast majority of his objectives. Settling the union contract was only one of his 12 objectives. Commissioners Calkins, Callen and Joseph added that Mr. Novick's contract renewal is months behind schedule and to delay his reappointment would suggest some degree of doubt about his competency. They commented that there is no connection between Mr. Novick's employment contract and the union contract. Commissioner Smith clarified that the intent to postpone Mr. Novick's reappointment for thirty days was not to indicate a lack of support. Commissioner Wonch summarized some of Mr. Novick's accomplishments: (a) realignment of the organizational structure, (b) restoring financial integrity, (c) made strides in addressing safety issues, (d) reduced health care costs, and (e) took a leadership role in addressing the lead pipe issue before it became newsworthy. Cornmissioner Wonch reported that a recent market analysis indicated the proposed salary increase is in line with those of General Managers with similar responsibilities in the utility industry. She noted that the committee declined his request to review different investment vehicles that give immediate vesting in lieu of the BWL's current pension plan. The committee also discussed the removal of the clause "In the case of voluntary termination during the first year of employment, the BWL may withhold $30,000 from the termination benefits due the Director and General Manager" from the contract. Because this clause no longer applies, the committee decided to not act on it since Mr. Novick has concluded his first year of employment at the BWL. Action: There being no objection, the Human Resources Committee report was received as presented. Restatement of the Motion by Commissioner Rios, seconded by Commissioner Smith to table consideration of the resolution on staff reappointments and approval of the General Manager's employment contract for at least thirty days. The motion to table the resolution on charter staff reappointments failed by the following vote: Yeas: Commissioners Rios and Smith. Nays: Commissioners Calkins, Callen, Joseph and Wonch Absent: Commissioner Duncan and Haggart Commissioner Wonch summarized discussion held by the Human Resources Committee regarding the job performance of Corporate Secretary Mary Sova. She noted that Ms. Sova has met her fiscal year 2004 objectives and that a market analysis indicated that her proposed salary is in line with individuals in similar positions and job responsibilities. She reported that comments on her performance from the Commissioners and the General Manager were favorable. The Commissioners concurred with the favorable comments. Commissioner Duncan arrived at the meeting at 6:00 p.m. She was briefed on the status of discussion concerning the reappointment of the General Manager and Corporate Secretary. DRAFT—Subject to Board Approval on 11123104 77 Board Meeting September 28,2004 Motion by Commissioner Calkins, seconded by Commissioner Joseph to approve the Resolution on the reappointment of the Charter Staff Positions; namely, General Manager Sanford Novick and Corporate Secretary Mary Sova(Resolution No. 2004-9-3). Action: Adopted by the following vote: Yeas: Commissioners Calkins, Callen, Duncan, Joseph, Rios, Smith, Wonch Nays: None Absent: Commissioner Haggart Motion by Commissioner Joseph, seconded by Commissioner Wonch to approve the Resolution on Compensation Increases for General Manager Novick and Corporate Secretary Sova (Resolution 2004-9-4). Action: Adopted by the following vote: Yeas: Commissioners.Calkins, Callen, Duncan, Joseph, Rios, Smith, Wonch Nays: None Absent: Commissioner Haggart esolution 2004-9-5 COMMITTEE OF THE WHOLE REPORT Present: Commissioners Calkins, Callen, Duncan, Haggart, Joseph, Rios, and Smith. Absent: Commissioner Wonch. The Committee of the Whole met on September 16, 2004 at 6:50 p.m. to discuss the following items: 1. BWL Lead Water Service Pipes 2. 312 N. Grand Avenue Property 3. Michigan Public Power Agency Issues 4. Capital Choice Renewal 5. Financial Reports 6. Policy Amendment to Contract Signature Authority 7. North Lansing Land-fill Easement 8. City of Lansing Economic Recovery Riders 9. Environmental Issues 10. Capital Budget Increase for Planned Projects to Replace Communications Tower 11. Strategic Planning Report Discussion 12. Update on Electric Reliability Complaint at 938 Alexandria 13. Closed Session (a) Union Negotiations Update (b) Consult with legal counsel regarding strategy in connection with pending litigation DRAFT—Subject to Board Approval on 11123104 Board Meeting September 28,2004 Public Comments: Chris Lawrence, BWL employee and member of IBEW Local 352, asked when the vote on the General Manager's contract would take place. Commissioner Haggart, Chair of the Human Resources Committee, responded that the report of the Human Resources Committee would be considered at the regular meeting scheduled for September 28, 2004. Jim Dravenstatt-Moceri, BWL employee and member of the 13EW Local 352 executive board, commended City Councilmembers for their willingness to work with both sides of the IBEW contract dispute. He stated that the City Council seems committed to finding a reasonable solution and that he hopes the Commissioners and management can equally commit themselves to the spirit of cooperation and partnership that is necessary at this time. John Pollard, 1718 Blair, Lansing, spoke on his concern with lead in drinking water. He questioned the BWL's current testing regimen, known as first-draw sampling, and stated that he believes it is flawed. He stated that replacing service lines that are all or partly made of lead must be done sooner than ten years. Mr. Pollard also spoke in support of settling the IBEW labor contract as quickly as possible. Charlene Decker, 2711 Pleasant Grove, Lansing, stated that her trust in BWL was totally broken when she learned she had water pipes with some lead and was not told sooner. Her service line was replaced when the CSO construction project came through her area. She also stated that IBEW Local 352 workers deserve a decent contract and urged a quick settlement of the IBEW labor contract. 1. BWL Lead Water Service Pipes. General Manager Novick reported that the BWL has a long way to go in gaining the respect of the community on the issue of lead in drinking water and noted that that this is not where BWL needs to be. Mr. Novick acknowledged that that BWL could have communicated more aggressively and frequently about lead in drinking water and lead service lines in the BWL water system. Future communications will prominently feature information about the BWL's lead service replacement program and steps customers can take to protect themselves from lead exposure. Mr. Novick reported that three educational open houses were held the evenings of July 22, July 28 and from 1 p.m. to 8 p.m. on August 3 to learn more about lead in drinking water and BWL lead pipe water services. The turnout was disappointing, however, ongoing education will continue until all services are replaced. Mr. Novick noted that a second task force has been organized to implement recommendations submitted to the Board in July 2004. The goal is to accelerate the ten-year lead service replacement target while minimizing both the financial impact and inconvenience to customers, and to monitor and improve the corrosion control program for reducing lead levels. Programs under discussion include working with the Michigan Health Department to pay for water tests for homes with lead service lines to help families who cannot afford it, explore available water filter programs, and other issues related to public education. Staff recommendations will be submitted to the Board at a future meeting. DRAFT—Subject to Board Approval on 11123104 79 Board Meeting September 28, 2004 2. 312 N. Grand Avenue Property. General Manager Novick gave an update on the City of Lansing and River Street Triangle, LLC, agreement. On June 19, 2004, City Council granted a second extension on the closing of agreements between the City of Lansing and River Street Triangle, LLC (developer) for the sale of property located on the corner of Kalamazoo Street and Grand until December 31, 2004. The BWL's contract with River Street Triangle, LLC, expired in May of this year. The developer requested an extension and the Board elected to not honor the request at that time in order to see what the City would do. The BWL's contract provides for a de facto extension, if the Board takes no action. However, since the contract had already been approved by City Council and provides for the ability to cancel, the Board has the right to cancel the contract at any time with a thirty-day(30) notice. Mr. Novick noted that the original contract and both extensions provide the developer with a cost-free option on the City's property. He reported that the City is close to separating the BWL property at 312 N. Grand Avenue from the City property at Kalamazoo and Grand Avenue. At a regular meeting in May 2004, the Commissioners voted to postpone taking action on the agreement with River Street Triangle until the Board of Commissioners discusses this matter with the City Council and the Mayor. At a joint breakfast meeting with City Council and Commissioners held July 27, the City requested additional time for the developer to finalize negotiations with the State of Michigan regarding a lease for a proposed office building to be constructed at Kalamazoo Street and Grand Avenue, which is an important component of the three contracts involving the City of Lansing, State of Michigan and Board of Water and Light. Following discussion, the Commissioners decided to delay decision on giving the developer a thirty-day notice to terminate the agreement since the issue of the agreement extension may get resolved by the end of the year. 3. Michigan Public Power Agency Issues. Senior Vice President of Operations Bill Cook presented an update on (1) wholesale electric market changes and issues potentially impacting the BWL associated with implementation and (2) transmission issues and uncertainties. He reported on the background of the Michigan Public Power Agency(MPPA), formed in 1978 and the seven different projects administered by MPPA, which are: (i) Power Pool, (ii) Belle River, (iii) Campbell #3, (iv) Kalkaska Combustion Turbine, (v) Northern Light, (vi) Green Power, and (vii) Transmission. Mr. Cook noted that the BWL is a member of the Power Pool, Belle River, Green Power and Transmission projects. The Belle River and the Power Pool have by far the largest impact on the BWL and potentially will be impacted the greatest by current industry changes. He reviewed the following Belle River statistics: ■ BWL spends about $39 million per year for Belle River power ■ Belle River generates on the order of 900,000 MWh per year, which is 29% of BWL generation. ■ Belle River is BWL's lowest production cost resource at $14.30/MWh ■ Belle River represents 23% of BWL capacity. Mr. Cook outlined the power pool operational impact. He noted that over the last five years (2000-2004) the annual average BWL wholesale sales and revenue have been: DRAFT—Subject to Board Approval on 11123104 Board Meeting o. September 28,2004 Sales Capacity Energy Total Total Revenue Revenue Revenue Revenue MWhs $ $ $ $/MWh Intra-Pool 312,620 3,331,626 6,827,785 10,159,411 32.50 3 rdParty 402,364 3,287.540 9,604,792 12,892,332 32.04 Mr. Cook discussed the evolution of Regional Transmission Organizations (RTO's) and the Midwest ISO (MISO), current operations. He noted that in addition to the traditional RTO transmission functions, in the late 1990's MISO decided to also include an energy market. Although the MISO Transmission Owner Agreement says nothing about operating an energy market, it is moving forward nonetheless. Mr. Cook presented an in depth presentation about issuing involving the implementation of MISO-MMI. He reported that the electric wholesale market will be experiencing major changes in the near future. BWL staff is concerned that: ■ The MPPA Power Pool may not be large enough or have sufficient expertise and resources to effectively compete, and ■ MPPA's approach to implementation may result in the BWL left with significantly higher costs and limited benefits derivable from BWL generating resources to offset these costs. BWL staff is working to alter the MPPA Power Pool direction in this matter. However, if a change cannot be accomplished, staff may be coming to the Board with a recommendation to give notice to terminate the BWL's relationship with the Power Pool. Mr. Cook concluded by noting the following: 1. There is intense pressure on MISO to meet the March 1, 2005 implementation date. 2. MPPA appears to have an approach that can"get by" in the new MISO MMI. 3. BWL will continue to work to move MPPA toward affiliating with a larger national resource management firm (ongoing). 4. At the MPPA project committee level, BWL will push for MPPA's role to be more related to project oversight (ongoing). 5. BWL should be prepared to give the Power Pool its five-year notice of its intent to leave the Pool in the event movement cannot be made regarding this issue. BWL would propose a resolution that at such time as the General Manager feels it appropriate, that the BWL submit its five-year advance notice to the Power Pool. Mr. Cook also reported that there has been a significant amount of work regarding transmission as a consequence or and in preparation for the anticipated MISO market changes. These issues represent opportunities as well as risks to the BWL. Staff would like to briefly review the major transmission related issues with the Board. In the future, staff may be bringing one or more of the issues forward for Board approval. Also, given the complex nature of these issues, BWL staff is reviewing the need for outside counsel to deal with FERC and related issues. DRAFT—Subject to Board Approval on 11123104 81 Board Meeting September 28,2004 4. Capital Choice Renewal. General Manager Novick reported that the BWL has been a sponsor of the Capital Choice Renewal partnership, a privately supported program of the Lansing regional Chamber of Commerce, which markets the Lansing region to preserve and expand the regional economy. Staff believes that continuing the annual pledge of$15,000 for four years for the Capital Choice Partnership's Campaign would be in the best interest of the community, the BWL, and the BWL's customers/owners. Following discussion, the Commissioners concurred and the General Manager was authorized to present a resolution on the renewal of the Capital Choice Partnership Financial Support at the next regular meeting for approval. (See General Manager's Recommendations) 5. Financial Report. Sr. Vice President of Finance Dennis McFarland presented a preliminary overview of financial results for June 2004. Staff is scheduled to meet with the Finance Committee on October 12`h to review the audited financial statements and final results for fiscal year 2004. Mr. McFarland summarized the consolidated income statement, comparing actual to budget. Net income came in at $2.3 million compared to the anticipated budgeted amount of $7.5 million. Mr. McFarland identified those items accounting for the variance between budgeted and actual operating income, most of which were previously identified to the Board in prior reports. He noted certain items that had been on the pending items list for several months, and in fact, as the books were closed those pending items were realized, which included: the Ottawa Station write off to appraised value (current portion), mainframe replacement write off, environmental liabilities (some remediation costs were expensed), uncollectible accounts, and increase in accrued compensated absences. Mr. McFarland noted items that changed since the last time he reported to the Board; namely, "Maintenance during Conversion of Erickson Station to Western Coal" increased by $1.2 million. A $600,000 budget overrun occurred in May and $1.2 million overrun in June. At the same time as the books were being closed for June, the write down of Ottawa Station, which had been anticipated in excess of$5 million is now only $3.3 million, because a portion of the write down of Ottawa Station is being reflected as a prior period adjustment, going back to 2002. The prior period write down does not affect the current period's net income. Mr. McFarland concluded his presentation by saying the fiscal year ended with less than satisfactory financial results, of which he attributed to overruns on the operating budget, weather conditions, and lower than anticipated wholesale pricing, and balance sheet adjustments. 6. Policy Amendment to Contract Signature Authority. General Counsel Amy Cavanaugh reported that the current policy on "Authority to Sign Documents of a Contractual Nature" permits the General Manager to delegate authority to sign contractual documents only to the Senior Vice Presidents. In practice, many of the BWL's contracts are either from agreements, such as service agreements, or involve a very low dollar amount and potential liability. This policy change is intended to allow the General Manager more latitude to determine the appropriate person or level of management to bind the BWL for a given contract. Written procedures will clarify which employees are permitted to bind the BWL under specified circumstances. Following discussion, motion was made by Commissioner Calkins and seconded by Commissioner Duncan to direct the General Manager to bring forth a resolution to amend the policy on authority to sign documents of a contractual nature at the next regular meeting. (See General Manager's Recommendations) DRAFT—Subject to Board Approval on 11123104 Board Meeting September 28,2004 Novick d the 7. North Lansing Landfill Easement. General m C County Drain rCommission to grant an Commissioners on proposed negotiations with the Ingha tY easement for a portion of the BWL's North Lansing Landfill Pr granting an easement oerty. Mr. Novick ra portion of staff has informally discussed the possibility of selling gt g eries the North Lansing Landfill to allow the Ingha County watDerain Commissioner to construct runoff from the drainage basina sNick of ponds on the property to control and treat storm ap Burwell of BWL's Environmental, Industrial Health Wetland mitigation. Mr. Burwell Safety Division noted that the depicting the Groesbeck Park Drain Extension W pot for the pond Ingham County Drain Commissioner identified this property impediments on itrefs use.rred sBecause of legal system based, in part, on its location and the lack of i p and practical considerations, such as the necessity that eanleasemeng the nt would be preferable toWL's landfilled ash an than 100 feet from the property line, staff concluded outright sale. The Ingham County Drain Commissioe Cher a reed to the B made a WL's preliminary preliminary easement. In addition, the Drain Commissioner has gfic issues terms and conditions or has agreed to work towahhe project ape o a resolution on te issues. lutlined indiscussed between the BWL and Drain Commissioner with respect to neering the a letter sent to the BWL by Fitzgerald owi ne i Associates, ssion, motion�was made by Commis ner Ingham County Drain Commission. Following discussion, bring Duncan and seconded by Commissioner Calkins, to dire ct he General Manager with the Ingham tCo my forth D ain resolution to the Board authorizing staff to negotiate w Commissioner for the purpose of granting an easement to a portion of the BWL's North Lansing landfill property. (See General Managers Recommendations) g. City of Lansing Economic Recovery Riders. Generathe City1 of Lansing was held on reporteder Novick July 27, that a public hearing on Street Light and Hydrant Riders f 2004. There were no written or public comments received. The filing and by Cornmissio hearing rSm th to rocess is now completed. Motion by Commissioner Duncan and seconded direct the General Manager to place this item on the agenda for the next regular meeting. Motion carried unanimously. (See General Managers Recommendations) ort to 9. Environmental Issues. General Manager Novick reported process that of ensuring the BWLps able the Board regularly on environmental issues in the planning p to meet future needs. As each topic is discussed, the potential ial financial,are Newsro Somental e tal and o health impact will be reviewed. The top two issues Mercury, CO2). Given the sus Routine Maintenance and (2) Multi-Pollutant Regulations (No,�, SO2, ry, late hour, he suggested deferring the environmental Commissioners nuntil the concurred. regular meeting on September 28 due to the importance of the topics. The 10. Capital Budget Increase to Replace Communications a need`to use the existing g tower l Manager Novick reported that Ingham County approached at the BWL Pennsylvania and Hazel Street plex as part of a rime location to serve th}e communication ato n ide emergency communications system. The BWL tower in a p needs of Ingham County and the City of Lansing antennas.YWit theeexist ogetower a mtost 30 however, cannot support both BWL and the County years old and approaching the end of its useful life, a new BWL tower, in addition to meeting the DRAFT—Subject to Board Approval on 11123104 83 Board Meeting September 28,2004 County and City of Lansing needs will allow the BWL to carry out its dispatching and emergency communications at a significantly lower long-tern cost. The BWL is asking for a 75% combined Contribution in Aid of Construction from the City and County, which will result in a $55,000 net project cost to the BWL. Following discussion, motion was made by Commissioner Calkins and seconded by Commissioner Rios to direct the General Manager to bring forth a resolution at the next regular meeting to increase the Fiscal Year 2005 Capital Budget for Planned Projects to replace the communications tower. Motion carried unanimously. (See General Manager's Recommendations) 11. Strategic Planning Report. General Manager Novick reported that a draft strategic plan developed by staff is ready for presentation to the Commissioners as a starting point for discussion on the direction of the BWL and the challenges ahead. He suggested scheduling a Committee of the Whole meeting with the Commissioners and staff to discuss the basis of the plan and review how the objectives and strategies were developed. The Commissioners agreed that this is a priority item for discussion. 12. Update on Electric Reliability Complaint at 938 Alexandria. Senior Vice President of Operations Bill Cook reported that the issue of electric reliability at 938 Alexandria, Lansing, has been hopefully resolved by switching the service to a circuit lateral that has less tree exposure. This corrective measure is expected to provide a higher degree of service reliability for customers in that immediate area. He noted that although the BWL has good reliability across its system, there are some pocket areas experiencing consistent problems. Mr. Cook stated that quality and service for BWL customers is important. A concerted effort is underway to identify pocket areas. Staff intends to proactively work to prevent problems before they occur. 13. Closed Session: Moved by Commissioner Calkins, seconded by Commissioner Duncan to meet in closed session for strategy and negotiation session connected with the negotiation of a collective bargaining agreement. (9:00 p.m.) Approved by roll call vote: Yes: Commissioners Callen, Calkins, Duncan, Haggart, Joseph, Rios, and Smith Nays: None Absent: Commissioner Wonch [Commissioners Joseph and Rios left the meeting 9:48 p.m]. Closed Session: Moved by Commissioner Calkins, seconded by Commissioner Duncan to meet in closed session to consult with legal counsel regarding strategy in connection with pending litigation. (9:48 p.m.) Approved by roll call vote: Yeas: Commissioners Callen, Calkins, Duncan, Haggart, Joseph, and Smith. Nays: None Absent: Commissioner Joseph, Rios, and Wonch. DRAFT—Subject to Board Approval on 11/23104 84 Board Meeting September 28,2004 The Committee reconvened in open session at 10:06 p.m. There being no further business,the Committee of the Whole adjourned at 10:07 p.m. Respectfully submitted, Ron Callen, Chair Pro Tern Committee of the Whole Motion by Commissioner Callen, seconded by Commissioner Duncan, to approve the Committee of the Whole report as presented. Action: Carried unanimously. 1bIANAOER'S RECOMMENDATIONS Backgro und materials on items presented are on file in the Office of the Corporate Secretary. esolution,Z0Q4-9-6 AL A. CAPITAL CHOICE PARTNERSHIP FINANCIAL SUPPORT RENEW privately supported program of the Lansing Regiona Whereas, the Capital Choice Partnership, a p g ppion to preserve and expand the regional Chamber of Commerce, markets the Lansing re economy, and tal Choice Partnership has led or Whereas, in terms of investment dollars and humanpi presen al, Capi tin had a significant role g nearly $2 billion in capital in attracting over 35 projects oll estimated at investment and creating 9000 direct and 50,000 indirect jobs with an annual payroll $1.87 billion, and ai to raise Whereas, Capital Choic e Partnership is launching Campaign V, its fifth campaign funding since its beginning in 1990, and supporter of the Whereas, the Board of Water and Light is currently and has historically been a Capital Choice Partnership with an annual pledge. inning in 2005, Resolved, That the Board of Commissioners approve continuing to pledge, beg $15,000 annually for four years to the Capital Choice Partnership. ppto a rove the Motion by Commissioner Duncan, seconded by Commissioner Wonch, resolution. Action: Carried unanimously. DRAFT—Subject to Board Approval on 11123104 85 Board Meeting September 28,2004 esolution 2004-9-'7� B• AMENDMENT TO POLICY ON AUTHORITY TO SIGN DOCUMENTS CONTRACTUAL NATURE OF A Resolved, That the Board's Policy 1-02 "Authority to Sign Documents of a Contractual Nature" adopted January 29, 2004, is hereby amended to permit the General Manager broader delegation authority. The policy as amended will read as follows: The General Manager and Corporate Secretary are authorized to execute, on behalf of the Board of Water and Light (BWL) in the general conduct of its business, all agreements, contracts, deeds, leases, easements, permits and other contractual documents, which have been approved either by action of this Board or pursuant to policy established by this Board. In the absence of the General Manager or Corporate Secretary, the Acting General Manager and the Acting Secretary, respectively, are authorized to eGener-alxecute the described documents. The GENERAL MANAGER MAY FURTHER DELEGATE AUTHORITY TO EXECUTE DOCUMENTS IN ACCORDANCE WITH WRITTEN GUIDELINES ESTABLISHED BY THE GENERAL MANAGER. The Corporate Secretary may further delegate authority to the Acting Secretary. The old language is shown as strikethrough, and the new language is shown in ALL CAPS. Motion by Commissioner Joseph, seconded by Commissioner Wonch, to approve the resolution. Discussion: Staff Attorney Cavanaugh commented that the current policy permits the General Manager to delegate authority to sign contractual documents only to the Senior Vice Presidents. In practice, many of the BWL's contracts are either from agreements, such as service agreements, or involve a very low dollar amount and potential liability. This policy change is intended to allow the General Manager more latitude to determine the appropriate person or level of management to bind the BWL for a given contract. Written procedures will clarify which employees are permitted to bind the BWL under specified circumstances. Action: Carried unanimously. esolution 2004-9-8 U. STREET LIGHT AND HYDRANT RIDERS FOR THE CITY OF LANSING Whereas, the Finance Committee received a briefing on May 11, 2004 of management's recommendations on a proposed Street Light Rider and proposed Fire Hydrant Rider to assist the City of Lansing in addressing its budgetary issues on a short-term basis. Through these ten-year riders, the City of Lansing would receive a rate discount on its streetlight and hydrant rates of up to 50% in the first year and up to 20% in the second year. In years 3-10, the City of Lansing DRAFT—Subject to Board Approval on 11123104 ' 80 I Board Meeting September 28,2004 e surcharge of approximately 9% on the normal Lansing Board of Water nd base rates. The riders were would pay a rat the ratepayers of ,s budget by City designed to assist the City without harmingincorporated into the City g Light. On May 17, 2004, these proposed riders were Council, and were made Whereas, the proposed Street Light and Fire Hydrant Riders for the City of Lansing public hearing, to provide opportunities for citizens to comment on the propose a the subject of p riders, and publicnd a hearing was Whereas, in accordance with the City Charter, notice H a an Ri held on July 27, 2004 inb de a rs. There were no written or rard to the Street Light Y public comments recei deg ro ght and Fire Hydrant Riders for the City of Lansing Resolved, That the proposed Street Li with an effective date of September 1, 2004 and an (Attachment A and B) are hereby approved expiration date of July 1, 2014. ' sinner Calkins seconded by Commissioner Duncan, to approve the Motion by Commis resolution. Action: Carried unanimously. esolution'2004=9 COUNTY DRAIN COMMISSION TO D. NEGOTIATIONS WITH INGHAM GRANT AN EASEMENT FOR A PORTION OF THE BWL'S NORTH LANSING LANDFILL PROPERTY gotiate with Board ham of Commissioners hereby authorizes staff the ICDC an easement toa ne Resolved, That the B for the purpose of granting County Drain Commissioner (ICDC) for the property. The easement would allow the ICDC to portion of the BWL's North Lansing and system to control and treat storm water runoff from the drainage basin. construct a p Possibility of selling or h Lansing Landfill to allow the ICDC to construct a Staff Remarks: For several months, staff North informally discussed the p drainage granting an easement to a portion of the N s. onds on the property to control and treat storm water run system s m based, in part, on its series of p referred spot for the pond sy The ICDC identified this property as the p practical considerations, location and the lack of impediments on its use.ledaash moreuse of gthan al 100 feet from the pro rty such as the necessity of keeping the BWL's outright sale. ICDC has made agreed to the BWL's preliminary to an line, staff concluded that an easement ddition, ICDC hasleither agr eTherefore,formal request for the easement. In easement granted staff terms and conditions or has agreed to work toward a resed easement. Any es. requests the Board's authorization oth the Board and City Council approval. the BWL would require DRAFT—Subject to Board Approval on 11123104 87 Board Meeting September 28,2004 Motion by Commissioner Duncan, seconded by Commissioner Wonch, to approve resolution. pp ve the Action: Carried unanimously. esolution 2004-9-1 E• INCREASE TO FY 2005 CAPITAL BUDGET FOR PL REPLACE COMMUNICATIONS TOWER ANNED PROJECTS TO Whereas, the County of Ingham, Michigan (County) desires to use the Board of Wa Light's (BWL) existing communications tower as part of a county ter and communications system; and ty wide emergency Whereas, the existing BWL communications tower cannot Support the combined loads BWL and County antennas; and of the Whereas, the County and the City of Lansing desire to financially contribute to re existing BWL communications tower; and place the Whereas, the BWL and the County desire to enter into an agreement for locating antennas on a new BWL communications tower and to provide the County space County an equipment shelter; and Whereas, funds for this project are not included in the Fiscal Year 2005 Capital B Planned Projects p Budget for Resolved, That the Board of Commissioners hereby moves that upon execution of an agreement between Ingham County and the Board of Water and Light, to increase the fiscal year ear205 Capital Budget for Planned Projects in the amount of $220,000 to replace the B radio communications tower located at the Hazel/Penn Complex. BWL radio Staff Remarks: Ingham County approached the BWL with a need to use the existing tower as part of a county wide emergency communications system. The BWL tower is in a ri location to serve the communication needs of the County and the Ci gmergency ty of Lansin e p me responders. The existing tower, however, cannot support both BWL and the Count antenna With the existing tower almost thirty years old and approaching the end of its useful life, s a new BWL tower, in addition to meeting the County and City of Lansing needs, will allow the carry out its dispatching and emergencycommunications at a significantly lower long term cost. The BWL is asking for a 75/o combined Contribution in Aid of Construction from the County, which will result in a$55,000 net project cost to the BWL. City, and Motion by Commissioner c Duncan, seconded by Commissioner Wonh resolution. to approve the Discussion: There will be a lease agreement to protect the BWL from liability. Y DRAFT—Subject to Board Approval ou 11123104 8zs Board Meeting September 28,2004 Action: Carried unanimously. UNFINISHED BUSINESS No unfinished business NEW BUSINESS No new business RESOLUTIONS No resolutions. GENERAL MANAGER'S REMARKS ger Novick stated that Commissioner until next mith e requested Board Environme ntal Issues. General Mana m al issues be deferred that the agenda item on discussion of environent meeting. nancial Financial Report. Senior Vice President of Finance Dennis M e ancomeland is136%ab lo the w budget report for the one month ended July 31, 2004. He reported Those numbers for July. Water sales were down 11% and nelectric electricretail wholesale sales.down Cool ng°degree-days were were partially offset by a 33% increase 26% below normal for July. The Lansing area usually experiences 192 ainfall was 41% a degree-days in ve July; however, this year there were only 143 cooling degree-days. eater. normal for July. The weather impact on August revenue is expected to be even gr . COMMISSIONERS' COMMENTS Commissioner Wonch congratulated management and the union for reaching a tentative agreement. ecutive staff for their letter in support of General Manager Commissioner Callen thanked the ex Novick. General Manager Novick thanked the Commissioners for their T upport and assured it employees to het em that tthe he would work diligently with bargaining and non-bargaining BWL forward. ng Commissioner Calkins inquired if consideration will be grunioven n agreement islratifi d employees General reducing their health care premium sharing to 5% once the gr Manager Novick responded that this issue would be evaluated once the union contract is ratified. Commissioner Joseph thanked the management and uniontin isg one entity teams for their efforts of in reaching a tentative contract settlement. He stated that BWL DRAFT—Subject to Board Approval on 11123104 89 Board Meeting September 28,2004 Commissioners, Management, Bargaining and Non-Bargaining employees. He expressed his ongoing support for General Manager Novick and Corporate Secretary Mary Sova. Commissioner Smith also thanked staff and the negotiation teams on reaching a tentative contract settlement. She recognized Director of Special Projects Clyde Dugan and congratulated him on his retirement. ABSENCES On motion by Commissioner Duncan and seconded by Commissioner Calkins, that the absence Of Commissioner Haggart be excused. Carried unanimously. PUBLIC COMMEN TS Steve Tews, long time BWL employee, expressed concern on the lack of trust and confidence by BWL workers. Mr. Tews stated that he believes City Councilmembers are more willing to listen to concerns of BWL employees than BWL Commissioners and Management. Commissioner Smith responded that the issue of employee morale and trust is on the agenda for the joint meeting with City Council and BWL Commissioners scheduled for October 5, 2004. ADJOURNMENT On motion by Commissioner Joseph, seconded by Commissioner Callen, the meeting adjourned at 6:50 p.m. /s/Mary E. Sova, Secretary Draft Filed with Lansing City Clerk October 8, 2004 DRAFT—Subject to Board Approval on 11/23104 ATTACHMENT A pROPOSED Board of Water & Light Lansing,Michigan WATER&UGHT im Street Light Rider Pur ose—The primary purpose of this rider is to enhance economic recovery& d of Water and Light(BWL) service area. It is available when, development in the Boar in the utility's sole judgment,the availability of the rider a net b nefit to the in improving our regional economy, and when application of the rider will result in BWL and its customers. Availabilit This rider is available solely to The City of Lansing and applicable only to y Water qualifyfor this rider,the its street lighting service with the Board°c ntract with the BWL specifying the City of Lansing must enter into a watt o erational aspects of the rider, including the percentage rate discounts permitted. The p rider shall be in effect for a period not exceeding onl available for the first two yeaf the rs of however,the discount rate portion of the rider is y that period. onthl Rate—Through June 30, 2005, the customer will lbe billed l led their throegh and M y charges under Rate 31, less up customer/ rate discountwill be billed their normal monthly charges under including June 30, 2006, of Rate 31, less up to a 20%rate discount. During the31 plus a ate surcharge customer will be billed their normal monthly charge under Rate of u to 9%. All references in this rider to Rate 31 mean the Rate 31 in effect at the time P of billing. Delayed Payment Charge — A delayed payment charge of 5% of the unpaid balance, excluding delayed payment charges, shall be added to any bill which is not paid on or before the due date. o the Ru les and Re ulations — Service under this rider is subject b t this reference.B Rules and Regulations for Electric Service,which are incorporated herein y Effective: September 1, 2004 Adopted: September 28, 2004 Epires: July 1, 2014 ATTACHMENT B PROPOSED Board of Water& Light Lansing, Michigan WATER&L" NOT Fire Hydrant Rider Pur ose—The primary purpose of this rider is to enhance economic recovery& developm;,nt in the Board of Water and Light (BWL) :,ervice area. 7t is available when, in the utility's sole judgment, the availability of the rider is a major factor in improving BWL and its customers. our regional economy, and when application of the rider will result in a net benefit to the Availability—This rider is available solely to The City of Lansing and applicable only to its public hydrant service with the Board of Water and Light. To qualify for this rider, the City of Lansing must enter into a written contract with the BWL specifying the operational aspects of the rider, including the percentage rate discounts permitted. The rider shall be in effect for a period not exceeding ten years from the date of the contract; however, the discount rate portion of the rider is only available for the first two years of that period. Monthly Rate—Through June 30, 2005, the customer will be billed their normal monthly charges under Rate 6, less up to a 50%rate discount. From July 1, 2005 through and including June 30, 2006, the customer will be billed their normal monthly charges under Rate 6, less up to a 20%rate discount. During the remaining term of the contract, the customer will be billed their normal monthly charges under Rate 6, plus a rate surcharge Of up to 9%. All references in this rider to Rate 6 mean the Rate 6 in effect at the time of billing. Delayed Pa Charge — A delayed payment charge of 5% of the unpaid balance, excluding delayed payment charges, shall be added to any bill which is not paid on or before the due date. Rules and Re ulations — Service under this rider is subject to the BWL Rules and Regulations for Water Service, which are incorporated herein by this reference. Adopted: September 28, 2004 Effective: September 1, 2004 Expires: July 1, 2014 Page 29 Final—Approved by Board 7127104 MINUTES OF THE BOARD OF COMMISSIONERS' MEETING LANSING BOARD OF WATER AND LIGHT Tuesday,May 25, 2004 The Board of Commissioners met in the Boardroom of the Administrative Offices, 1232 Haco Drive, Lansing, Michigan. Present: Commissioners Gary L. Calkins (speakerphone)Ronald C. Callen,Nancy W. Duncan, Tim Haggart, Ifield P. Joseph, and Robin M. Smith. --, Absent: Commissioner Nancy Wonch =- Vacancy: One unfilled At-Large seat due to resignation of Connie Marin. _ The Secretary declared a quorum present. —� Chairperson Callen called the meeting to order at 5:30 p.m. APPROVAL OF MINUTES Motion by Commissioner Haggart, seconded by Commissioner Duncan, to approve the minutes of the regular Board meeting held March 25, 2004. Carried unanimously. PUBLIC COMMENTS THE CHAIR ANNOUNCED THAT MEMBERS OF THE PUBLIC ARE WELCOME TO SPEAK TO THE BOARD ON ANY AGENDA SUBJECT OR ON ANY OTHER SUBJECT NOW, OR AT THE END OF THE MEETING. Jim Harkin, 315 Bingham, Lansing, suggested the Board of Water and Light should consider shutting down Erickson and Eckert Stations and instead purchase its power from another electric provider at a lower cost. He stated that this option would eliminate unnecessary capital expenditures and reduce labor costs by trimming down the number of employees needed for operations. Mr. Harkin said he would like to see an analysis of this concept to compare the savings between a locally owned utility versus purchasing power from another provider. Mr. Harkin asked if the electric, water and steam utilities are self-supporting. Board Meeting 30 May 25,2004 Commissioner Callen thanked Mr. Harkin for speaking to the Board and referred Mr. Harkin to Bill Cook, Vice President of Operations, to discuss the issues raised in more detail and for a response to questions raised. Curt Gates, Business Manager of IBEW Local 352, raised several concerns and issues. He expressed concern with staff s proposal to engage outside consulting services to assist with the BWL's funded benefit plans. He noted that the Defined Benefit Pension Plan and the Retiree Benefit Plan are currently managed internally and questioned whether spending for an outside pension fund investment consultant is necessary. Mr. Gates welcomed Dennis McFarland, the new Senior Vice President of Finance and stated that Mr. McFarland is an excellent addition to the Board of Water and Light. He inquired about the rationale for hiring Mr. McFarland at a higher salary than his predecessor when a portion of his job responsibility is being contracted to an investment consultant. Mr. Gates stated that the fee for this service could make a difference of providing retiree health benefits and funding the VEBA fund for future health care costs. Mr. Gates expressed concern over proposed revisions to the performance increase matrix for Non-Bargaining Unit employees. Mr. Gates stated he believes there is a double standard in favor of Non-Bargaining Unit employees over the Bargaining Unit. He noted that the union contract remains unresolved since October 2003. Mr. Gates thanked the management group for inviting union members to hear the BWL's handling of the Lansing combined sewer overflow (CSO) abatement program in advance of the Board meeting. He noted, however, that there was no mention in the presentation BWL will expand its inspection of CSO projects by BWL employees. Mr. Gates stated it is his belief the Board gave a directive that inspections would be expanded to include CSO projects. He commented that the problems previously experienced with the Customer Choice program have been eliminated due to improved field inspection services performed by BWL personnel. Chairman Callen noted that several of the issues raised would be discussed later during the course of the meeting. Glenn Kirk, Finance Director, City of Lansing, thanked General Manager Sanford Novick and the management team for their efforts and the Board's consideration of the proposed street light and hydrant riders for the City of Lansing. Multiple recommendations submitted by BWL were reviewed by City administration, and the best alternative was determined to be the economic recovery rate riders to assist the City of Lansing with its budget problems. Mr. Kirk indicated that municipal governments across the country and specifically in the State of Michigan are experiencing financial difficulties brought on by a poor economy. He stated that although the City of Lansing is facing economic challenges, Lansing is in much better shape than other communities across the nation. He stated City administration has embarked on a mission to find ways to reduce costs, eliminate waste and minimize the impact on services to citizens and minimize the impact to City of Lansing employees. The BWL has made a commitment to partner with the City to explore other alternatives to reduce Lansing's energy consumption. The proposed rate riders will serve as insurance for the City, which hopefully will not need to be used. Mr. Kirk noted the City and BWL agreed this arrangement would be acceptable as long as Lansing citizens and BWL ratepayers would not be harmed. 31 -ioard Meeting May 25,2004 COMMUNICATIONS There were no communications. COMMITTEE REPORTS esolution 2004-5-1 COMMITTEE OF THE WHOLE REPORT Present: Commissioners Calkins, Callen, Duncan, Haggart, Joseph, Smith and Wonch. The Committee of the Whole met on April 20, 2004 at 5:30 p.m. to discuss the following items: 1. MPPA Power Pool Amendment Resolution 2. Status of Erickson Project 3. Status of Eckert#2 4. Discussion of Proposal to City of Lansing 5. Request for Qualifications for Development of Ottawa 6. Internal Auditor Position 7. Status of General Manager's FY 2003-04 Objectives 8. Union Negotiations Update (Closed Session) There were no comments made by the public at the meeting. MPPA Power Pool Amendment Resolution. Senior Vice President of Operations Bill Cook discussed proposed amendments to the Michigan Public Power Agency (MPPA) Power Pool Agreement to bring the agreement into compliance with present Power Pool operations and billing. Mr. Cook noted that covenants of each Project Participant remain the same and the amendment conforms to its stated intention of updating the contract to reflect changes in the industry and operation of the MPPA Power Pool. Mr. Cook reported that the MPPA Power Agreement was developed in 1989-1990 and the Pool began operation in mid-1992. An overview of the Pool operations was presented. Main issues addressed in the proposed amendment include: ■ Formal change from incremental pricing to Average Energy Pricing for intra-pool transactions. ■ Addition of Emission allowances to the definition of allowable fuel costs. ■ Addition of language permitting Pool members the opportunity to sell or purchase capacity within the Pool on a multi-year basis. ■ Allocation of Administrative and Overhead expenses. ■ Clarification of language. ■ New language addressing the approval of new members. ■ Modification of language to reflect current transmission arrangements. ■ Update of contract definitions. ■ Green Power. Board Meeting 32 May 25,2004 ■ Ancillary service provisions. The benefits and risks to the Board of Water and Light were also detailed. Following discussion, the General Manager was authorized to present a resolution on proposed amendments to the MPPA Power Pool Agreement at the next regular meeting for approval. (See General Manager's Recommendations) Status of Erickson Project. Director of Production Dick Peffley gave an update on the status of the Erickson project to convert the plant to Powder River Basin (PRB) coal. Following the conversion, the plant was back on line at reduced load on April 14th. Erickson Station is expected to undergo a full load test on Wednesday, April 21". Mr. Peffley reported there are still a few items that need some fine-tuning, but the job went well. He congratulated BWL forces on a job well done, noting that with all the work that was completed, it was almost like building a new plant. Status of Eckert #2 H.P. Turbine. Director of Production Dick Peffley presented an update on the Eckert #2 turbine overhaul. He reported that problems continue with the turbine overhaul. Three additional rows of blading need to be replaced in addition to the six rows originally damaged. The BWL was unable to negotiate a contract with TurboCare to perform the repair work; consequently, an agreement was made with ReGENCo to complete the work. An engineer from the BWL will oversee the work. June 15 is the target date for the unit to go back on line. Proposal on City of Lansing Economic Recovery Riders. Senior Vice President of Finance Dennis McFarland presented a proposal made to the City of Lansing to assist their budget problems, without affecting BWL ratepayers. The BWL has proposed offering the City of Lansing discounted utility rates for two years. The discounted rates will reduce City utility bills by approximately $1,500,000 in Fiscal Year 2005 and $750,000 in Fiscal Year 2006. The discount will be recovered over the subsequent eight years. The BWL will schedule a public hearing regarding riders to Rate Schedules No. 6 (Fire Hydrant Charges) and No. 31 (Street Lighting Service) to accomplish this. The discount riders will be available only to the City of Lansing. Request for Qualifications for Development of Ottawa Station. Commissioner Nancy Duncan recused herself from discussing and voting on this issue because of her position at the State of Michigan. Recently, a developer approached the BWL expressing interest in developing Ottawa Station. Mayor Benavides had a concern that any development of Ottawa Station should be an open process. Therefore, staff will send out a Request for Qualification to open the process to all parties interested in developing Ottawa Station for state offices or other purposes. Interested developers will be asked to provide their experience and qualifications and then a developer will be chosen to develop the property. Filling the Internal Auditor Position. General discussion was held on the Human Resources Department and Management's involvement in the process of filling the Internal Auditor position. The job description, specifications and proposed advertisement for the Internal Auditor position were discussed. A proposal was made that the Human Resources Department provide a recommendation as to how the process should go forward. This will be presented to the Human Resources Committee on April 22, 2004 for discussion. 33 .oard Meeting May 25,2004 Status of General Manager's FY 2003-04 Objectives. General Manager Sanford Novick updated the Commissioners on the status of his 2003-2004 objectives. He briefly touched on each objective. Overall each objective is moving forward. General Manager Novick expressed disappointment with two of the objectives, namely negotiating with the union and safety statistics at the BWL. Status of Union Negotiations—Closed Session. By motion of Commissioner Wonch, seconded by Commissioner Callen, that the Committee of the Whole convene in closed session to discuss the status of collective bargaining negotiations and the status of Eckert 42 H.P. Turbine dispute (7:50 p.m.). Action: Adopted by roll call vote: Yeas: Commissioners Calkins, Callen, Duncan, Haggart, Joseph, Smith, and Wonch Nays: None Absent: None The Committee of the Whole met in closed session at 7:50 p.m. No recommendations were brought forth from the closed session. There being no further business, the Committee of the Whole adjourned at 8:40 p.m. Respectfully submitted, Tim Haggart, Chair Pro Tem. Committee of the Whole Motion by Commissioner Haggart, seconded by Commissioner Duncan, to approve the report as presented. Action: Carried unanimously. Chairman Callen announced that if there are no objections, he would co-mingle the General Manager's Recommendations associated to the items listed in each of the Committee Reports. See General Manager's Recommendations for Resolutions associated to the items discussed in the Committee of the Whole Report: Resolution 2004-5-6 regarding Amendments to MPPA Power Pool Agreement aolution.2004-5- HUMAN RESOURCES COMMITTEE REPORT Present: Commissioners Haggart, Calkins, Callen, and Wonch The Human Resources Committee met on April 22, 2004 at 5:30 p.m. to receive reports on the following items: Board Meeting 34 May 25, 2004 1. Non-Bargaining Unit Employee Compensation for Fiscal Year 2004-05 2. Health Care Sharing 3. Post-Retirement Health Care Costs 4. Internal Auditor Position 5. Quarterly Pension Fund Investment Performance 6. Pension Fund Investment Consultant Non-Bargaining Unit Employee Compensation for Fiscal Year 2004-05. Wendy Bradley, Human Resources Employment/Compensation Administrator,presented the recommended Skill Family Range Adjustments and Performance Level Matrix for FY 2005. Items discussed were the BWL pay philosophy, activity that supports BWL pay philosophy, competitive market reviews, the methodology used in determining range adjustments, competitive pay, how data is analyzed, financial impact on the BWL,performance based pay, design performance level matrix, and the components of market-based salary increase budget. Ms. Bradley reported that the BWL annually reviews its salary plan for non-bargaining employees in an effort to keep salaries in line with comparable positions in a competitive marketplace. Following discussion, it was moved by Commissioner Wonch and seconded by Commissioner Callen that the General Manager is authorized, on behalf of the Human Resources Committee, to present resolutions at the next regular meeting concerning adjustments to the Skill Family Range Adjustments for non-bargaining unit employees and revisions to the Performance Increase Matrix for non-bargaining unit employees for Board consideration. Health Care Sharing. Over the past five years, the BWL has realized double-digit increases in health care costs. This year the BWL's health care costs increased 13% and have more than doubled over the past five years. The annual cost for health and prescription drugs for FY 2005 is projected at $7,205,000 for active employees and $5,805,000 for retires. Changes in the health insurance plan for non-bargaining employees include premium sharing, deductibles and increased co-pays. It is recommended that this change take effect July 1, 2004. Nationwide, 75% of employees covered by company health care plans pay deductibles and share some of the cost of their monthly premiums. Out-of-pocket costs for employees can be lowered by paying with pre-tax dollars under the BWL's flexible spending program. Following discussion, the General Manager was authorized to present a resolution at the next regular meeting concerning Health Care Cost Sharing for Non-Bargaining Unit Employees for Board consideration. Post-Retirement Health Care Costs. Senior Vice President of Finance and Administration Dennis McFarland presented a report on the status of the Board's post-retirement benefit plan. The plan offers retirees medical, dental and life insurance benefits comparable to active employees. Annual "pay as you go" costs for such benefits approximates $6 million. The Board also has a liability for future benefits to both retirees and active employees that approximated $170 million as of February 2003. A portion of that liability, roughly $12 million, has been funded over the last four years by means of a VEBA trust fund. The VEBA funding has been made up of contributions from operating cash and surplus funds transferred from the Defined Benefit Pension Plan. As allowed by an April 2000 Board resolution, an additional transfer of $5.1 million of surplus pension funds will be made in June 2004. 35 oard Meeting May 25,2004 Mr. McFarland cautioned that the unfunded liability is likely to increase in the future as health care costs escalate and that continued funding of the VEBA trust is critical. Moreover, pending accounting pronouncements addressing the unfunded future health care liability could require the Board to recognize substantially higher annual expenses than it is currently recognizing. BWL retirees' medical, dental and life insurance benefits are comparable to those of active employees. However the BWL retains the right to reduce or eliminate benefits subject to any legal or contractual limitations. Currently there are approximately 1,700 plan participants—45% are active employees and 55% are retired or surviving spouses of retirees. Management advised the Committee that an outside expert was being hired to evaluate what can or cannot be done with respect to existing retirees. Internal Auditor Position. Discussion was held with respect to filling the Internal Auditor position, and it was agreed to move the following action plan forward to the full Board for consideration at the regular meeting of May 25, 2004: Action Plan Regarding Filling the Internal Auditor Position To adopt Option 1 of the Recommended Action Plan for Filling Internal Auditor Position (appended to this report.) • The Executive Team, referenced in the Option 1 Action Plan, will include the following participants: Board of Commissioners' Committee of the Whole, General Manager, Senior Vice President of Finance and Administration and the Director of Human Resources & Organizational Development. • The following draft documents will be distributed to the Board of Commissioners for review: job description,job posting, advertising options, and recommended salary range. • The Board of Commissioners will submit additions, deletions or suggestions of the aforementioned documents within a period of two days back to Human Resources. • Human Resources will distribute the Selection Process Tool (draft interview questions) to the Executive Team for review, and comments will be submitted to Human Resources for inclusion. • The Board of Commissioners will approve the following documents at the May 25, 2004 Board meeting: job description, job posting, advertisement, selection process, selection tool (interview) and salary. Quarterly Pension Fund Investment Performance. Senior Vice President of Finance and Administration McFarland presented a report on the investment performance of the Defined Benefit Pension Plan, the Defined Contribution Pension Plan and the Retiree Benefit Plan as of March 2004. The Defined Benefit Plan had a market value of $134.8 million as of the end of March 2004 and experienced an overall annual return of 22.8% for the period. The returns for all asset classes were above the respective benchmark returns for each class. As a result of strong returns in the equity class, the portfolio was overweighted in equities and would be rebalanced. The Plan had a funded ratio of 152.6% as of February 2004. Board Meeting 36 May 25,2004 The Defined Contribution Pension Plan had a market value of $102.0 million as of the end of March 2004. Approximately 65% to 70% of the moneys in the fund were invested in equities or equity-like securities. The vast majority of the investment options in the Plan experienced returns for the reporting period comparable to or better than the respective benchmarks. The Retiree Benefit Plan, or VEBA, had a market value of$16.6 million as of March 2004 and experienced an overall return of 15.4% for the period. The Plan has been underweighted in equities while at the same time its equity portfolio had underperformed relative to its benchmark. The plan will be rebalanced using existing cash reserves to increase the equity holdings. Pension Fund Investment Consultant. Senior Vice President of Finance and Administration McFarland reported that a Request for Proposal had been distributed to 13 firms seeking consulting services for our funded benefit plans. Currently the Defined Benefit Pension Plan and the Retiree Benefit Plan are managed internally. While the investment returns for both plans have been quite good, the procedures for managing the funds need to be reviewed to define risk management strategies and insure that all fiduciary responsibilities are adequately fulfilled. It is planned that an advisor will be selected over the next several months and introduced to the Board shortly thereafter. There being no further business, the meeting was adjourned at 8:40 p.m. Respectfully submitted, Tim Haggart, Chair Human Resources Committee Motion by Commissioner Haggart, seconded by Commissioner Smith, to approve the report as presented. Action: Carried unanimously. esoluti6n.2004-T 3 Motion by Commissioner Haggart, seconded by Commissioner Calkins, to approve the Action Plan for filling the Internal Auditor position as submitted by the Human Resources Committee. Action: Carried unanimously. See General Manager's Recommendations for Resolutions associated to the items discussed in the Human Resources Committee Report: Resolution 2004-5-10 regarding Skill Family Salary Range Adjustments for Non-Bargaining Employees. Resolution 2004-5-11 regarding Revisions to Performance Increase Matrix for Non-Bargaining. Resolution 2004-5-12 regarding Health Care Cost Sharing for Non-Bargaining Unit Employees. esolution 2004-5. FINANCE COMMITTEE REPORT 37 oard Meeting May 25,2004 Committee Members Present: Commissioners Callen, Duncan, Joseph, and Smith. Commissioner Calkins was also in attendance. Excused Absence: Commissioner Wonch. The Finance Committee met on May 11, 2004 at 5:30 p.m. to discuss the following items: 1. FY 2005 Financial Plan a) Operating Budget b) Capital Budget 2. March Financial Report 3. Payment of Liability to Defined Benefit Pension Fund 4. City of Lansing Economic Recovery Riders 5. Renewal of the Annual Sponsorship of the Capital Area United Way Advertising Initiative 6. Utility Services Rules and Regulations (including Fees and Charges) Finance Committee Chair Nancy Duncan changed the order of the agenda items. Item Nos. 2, 3, and 4 were presented first, followed by Item Nos. 1, 5 and 6. March Financial Report. Senior Vice President of Finance and Administration Dennis McFarland reviewed the BWL's financial performance for fiscal year-to-date through March 31, 2004. For the nine months into this fiscal year, BWL net income is $11.8 million, which is $2 million ahead of the projected budget. Mr. McFarland discussed financial performance by utility and noted on the consolidated income statement that revenue, as compared to budget, is up for steam and down for electric. Following are items that have, either positively or negatively, caused variance in operating income: ■ August 14, 2003 Blackout ■ Premium Sharing on Health Insurance ■ Over Collected Electric Energy Cost Adjustment ■ Water Industrial and Wholesale Sales ■ Steam Sales and Revenue from General Motors ■ Over Estimated Electric KWH System Requirements Mr. McFarland also discussed pending items and their affect on the budget. These items may affect net income and/or cash flow either positively or negatively between now and the end of the current fiscal year: ■ Union Contract ■ Environmental Emission Allowances ■ Ottawa Station ■ Mainframe Replacement ■ Pension Fund Loan Repayment ■ Pending Litigation ■ Environmental Liabilities ■ Wholesale Electric Capacity Revenue Reduction Board Meeting 38 May 25, 2004 ■ Uncollectible Accounts ■ Increase in accrued compensated absences Payment of Liability to Defined Benefit Pension Fund. Senior Vice President of Finance and Administration Dennis McFarland briefed the Commissioners on the repayment of the BWL's liability to the Defined Benefit Pension Fund. He noted that given current interest rates, it would be more economical for the Board of Water and Light to repay this liability at this time. Following discussion, it was moved by Commissioner Smith, seconded by Commissioner Joseph that the General Manager is authorized, on behalf of the Finance Committee, to present a resolution at the next regular meeting for consideration. Proposed City of Lansing Economic Recovery Riders. General Manager Sanford Novick presented a proposal under discussion with the City of Lansing to assist the City in balancing their next fiscal year budget: Economic recovery riders for Fire Hydrants and Street Lights solely for the City of Lansing were reviewed. By offering these special rate adjustments to the City, it will give the City some temporary rate relief and it will not affect the BWL ratepayers. The Riders provide for a surcharge beginning in years 3-10 after a discount in years 1 and 2. The BWL also committed to the City to assist them in looking for ways to reduce their energy and water consumption so the savings could be used to fund the surcharge. The riders will become part of the rate schedules. The Committee concurred that the discount be offered for the first two years of the agreement and that the surcharge begin to be paid in the third year. Motion by Commissioner Joseph and seconded by Commissioner Smith that the General Manager is authorized to present a resolution at the next regular meeting to schedule a public hearing on the proposed City of Lansing Economic Recovery Riders for Fire Hydrants and Street Lights. FY 2005 Financial Plan. Senior Vice President of Finance and Management McFarland presented an overview of FY 2005 financial plan. In summary: Financial Goals • Maintain credit quality • Ensure liquidity to meet potential contingencies • Maintain rate competitiveness with a goal of 20% less than competitors • Efficient and appropriate use of capital while maintaining safety and reliability. Sales Forecast Utilit FY'05 FY'04 Budget % '05 Budget Forecast to '04 Budget Electric—Retail 2,455,000 2,545,000 -3.5% Electric—Wholesale 681,000 591,000 15.2% Total Electric (mwh) 3,136,000 3,136,000 0.0% Water(ccf) 11,139,870 11,244.467 -0.9% Steam (mlb) 2,056,000 1,926,700 6.7% Chilled Water (mhrs) 11,931,000 11,931,000 0.0% Basic assumptions include normal weather, trended ten-year growth rates, General Motors (GM) 39 oard Meeting May 25, 2004 consumption provided by GM, and that all available electric capacity not sold at retail is sold at wholesale. Revenue Assumptions ■ No electric or water rate increases ■ Chilled Water at minimum bill levels ■ 2% increase in Electric Wholesale prices ■ Special City of Lansing Rider- $1.5 million ■ Lower fuel cost to result in$4.8 million revenue reduction Operating Expenses ■ Increase of 1 FTE employee ■ Bargaining unit salaries based on continuation of current contract ■ Non-bargaining salary increase based on market study ■ Increase in health care cost of 13% ■ Includes non-bargaining premium sharing ■ Aggressive management of sick leave Capital Expenditures ■ Revenue producing capital additions to be justified by costibenefit analysis ■ Remaining capital limited to less than annual depreciation expense of$28 million ■ Capital expenditures address result of August 14, 2003 outage analysis. Mr. McFarland also presented the budget for fiscal year ending June 30, 2005. Net income is projected at $2.4 million with no rate increases anticipated due to sufficient cash reserves. There was much discussion regarding cash reserves, how much are they currently and what is the appropriate level. The Committee recognized this is a Board Policy decision. Management was requested to provide a detail of the various cash funds, as well as the details of the variances between the Fiscal `05 and `04 Budgets. Senior Vice President of Operations Bill Cook presented the Capital Budget. The FY2005 Capital Budget Assumptions are: • Revenue producing capital additions to be justified by costibenefit analysis (will be noted as "Revenue Projects." • Remaining capital expenditures targeted at less than annual depreciation expense. • Capital expenditures included addressing result of August 14 outage analysis. • Past environmental remediation projects were transferred to O & M Budget. (FY2005 - $750 million) • New BWL initiative was included. 15-year Lead Service Replacement Program (FY2005 incremental impact: $2 million) Mr. Cook discussed the following FY 2005 Programs: • CSO/Street Reconstruction (Presentation to be made at the May 25, 2004 Board Meeting) • Lead/N. Std. Service Replacement • Outage Management • August 14 Outage Analysis Recommendations Board Meeting 40 May 25,2004 • Production Upgrades • Misc. Non-Revenue Projects • T &D Upgrades • Revenue Projects • Vehicles/equipment and small tools There was particular discussion about the lead service replacement program and whether it was aggressive enough. There was also discussion about a lead reduction plan. Management committed to provide the Board with a date for presentation of a comprehensive lead management plan for the BWL water system. Following discussion, it was moved by Commissioner Joseph and seconded by Commissioner Smith that the General Manager is authorized to present a resolution at the next regular meeting recommending both the Operating and Capital budgets for approval. Renewal of the Annual Sponsorship of the Capital Area United Way Advertising Initiative. General Manager Novick reported that for the last several years, the BWL has provided corporate support for the Capital Area United Way (CAUW) by underwriting the advertising campaign for the CAUW's annual fund-raising drive. The BWL's support has made it possible for United Way to buy paid advertising and to leverage its advertising budget by receiving additional free advertising in local media outlets. In return for this support, the CAUW has provided sponsorship recognition in its published campaign materials. The amount underwritten by BWL for the past several years was reviewed. Motion by Commissioner Callen and seconded by Commissioner Smith that the General Manager is authorized to present a resolution at the next regular meeting recommending approval of an annual sponsorship of the Capital Area United Way. Utility Services Rules and Regulations (Including Fees and Charges). Kellee Christensen, Principal Engineer in the Customer Projects and System Integrity Department updated the Commissioners on proposed changes to the Rules and Regulations for Electric, Water, Steam, and Chilled Water services, including applicable fees and charges. Among the proposed changes were editorial improvements as well as changes to reflect what was occurring in the day-to-day operation of implementing the Rules. There were also several fee changes to reflect changes in costs incurred by the BWL. Motion by Commissioner Joseph and seconded by Commissioner Callen that the General Manager is authorized to present a resolution at the next regular meeting recommending the approval of the proposed Utility Services Rules and Regulations and applicable Fees and Charges. There being no further business, the meeting was adjourned at 8:20 p.m. Respectfully submitted, Nancy Duncan, Chair Finance Committee 41 -,ard Meeting May 25, 2004 Motion by Commissioner Duncan, seconded by Commissioner Smith, to approve the report as presented. Action: Carried unanimously. See General Manager's Recommendations for Resolutions associated to the items discussed in the Finance Committee Report: Resolution 2004-5-5 regarding Fiscal Year 2005 Operating and Capital Budget. Resolution 2004-5-7 regarding Amendments to Utility Services Rules and Regulations (including Fees & Charges). Resolution 2004-5-5 regarding Payment of Liability to Defined Benefit Pension Fund. Resolution 2004-5-9 regarding Renewal of Capital Area United Way Sponsorship. Resolution 2004-5-13 regarding Setting a Public Hearing Date for Street Light and Hydrant Riders for the City of Lansing. Board Meeting 42 May 25,2004 MANAGER'S RECOMMENDATIONS Background materials on items presented are on file in the Office of the Corporate Secretary. Resolution 2004`5- A. FISCAL YEAR 2005 OPERATING AND CAPITAL BUDGET RESOLVED, that the annual Operating and Maintenance Budget covering Fiscal Year 2005 is hereby approved as presented. (Attachment Q RESOLVED FURTHER, that the Capital Budget for Fiscal Year 2005 is hereby approved as presented. (Attachment D) RESOLVED FURTHER, that the capital projects are authorized in the amount of the project estimate. Capital expenditures for Fiscal Year 2005 are limited to the new amount included in the budget. Motion by Commissioner Duncan, seconded by Commissioner Haggart, to approve the resolution. Action: Carried unanimously. esolution 2004-5- B. AMENDMENTS TO MPPA POWER POOL AGREEMENT WHEREAS, the Lansing Board of Water and Light has been a member of the Michigan Public Power Agency(MPPA) Power Pool since its inception in 1992; and WHEREAS, the original Power Pool Supply and Capacity Purchase Agreements have not been updated or amended during this period; and WHEREAS, during this time there have been many changes in the way the Pool has been operated and billed; and WHEREAS, there is a need to update the MPPA Power Pool Supply and Capacity Purchase Agreement to reflect current operations. RESOLVED, that the Board of Commissioners hereby approve Amendment No. 1 to the Power Pool Supply and Capacity Purchase Agreement between the Michigan Public Power Agency and the Lansing Board of Water and Light. Staff Remarks: A summary of the amendments is attached (Attachment E). A complete contract reflecting the amended changes is on file with the Corporate Secretary. Motion by Commissioner Duncan, seconded by Commissioner Smith, to approve the resolution. Action: Carried unanimously. 43 jard Meeting May 25,2004 esolution 2004-5= C. AMEND UTILITY SERVICES RULES & REGULATIONS FOR ELECTRIC, WATER, STEAM AND CHILLED WATER(INCLUDING FEES & CHARGES) WHEREAS, in accordance with Board Policies 19-05 (Electric), 19-13 (Water), 19-15 (Steam), and 19-16 (Chilled Water) of the Utility Services section, the Utility Rules and Regulations shall be subject to review and modifications by the Commissioners. RESOLVED, that the Board of Commissioners hereby moves to amend the Rules and Regulations for the Electric, Water, Steam, and Chilled Water Services as submitted and reviewed by the Finance Committee on May 11, 2004, with an effective date of July 1, 2004. Staff Remarks: The amendments to the Utility Services Rules and Regulations were included with the packet for the Finance Committee meeting of May 11. Motion by Commissioner Duncan, seconded by Commissioner Joseph, to approve the resolution. Action: Carried unanimously. esolution 2004-5-, D. PAYMENT OF LIABILITY TO DEFINED BENEFITS PENSION PLAN WHEREAS, the Finance Committee discussed the repayment of the Board of Water and Light's liability to the Defined Benefit Pension Fund on May 11, 2004. Given current interest rates, it would be more economical to repay this liability at this time, and WHEREAS, by resolution on February 12, 1973, the Board of Commissioners approved the 40 year amortization of the liability owed to the Defined Benefit Pension Fund utilizing equalized annual payments of$242,500 per year at an interest rate of 5.5%per annum, and WHEREAS, the Board of Commissioners reserved the right, should funds be available, to pay more than the yearly principal amount due. RESOLVED, That the remaining outstanding principal owed to the Defined Benefit Fund on June 30, 2004 be paid in its entirety. Staff Remarks: On June 30, 2004, after the annual payment of $242,500, the outstanding principal will be $1,533.892.11. Motion by Commissioner Duncan, seconded by Commissioner Joseph, to approve the resolution. Action: Carried unanimously. Board Meeting 44 May 25,2004 esolution 2004-5- E. RENEW CAPITAL AREA UNITED WAY SPONSORSHIP WHEREAS, the Finance Committee received a briefing from management on May 11, 2004 regarding the Board of Water and Light's sponsorship over the past years to the Capital Area United Way by underwriting the advertising campaign for their annual fundraising drive. The BWL's new Purchasing Policy requires Board approval for sponsorships with a value of$5,000 or more. RESOLVED, That the Board of Commissioners approve an annual sponsorship of the Capital Area United Way (CAUW) in the amount of$7,500 a year for a period of three years. Funds from this sponsorship are to be used to finance CAUW's advertising campaign in support of its annual fundraising drive. Sponsorship will be taken from the Communications budget for community sponsorships. Motion by Commissioner Duncan, seconded by Commissioner Joseph, to approve the resolution. Action: Carried unanimously. esolution 2004-5.-1 F. SHILL FAMILY SALARY RANGE ADJUSTMENTS — NON-BARGAINING UNIT EMPLOYEES WHEREAS, the Board of Commissioners is responsible, by Charter, for conditions of employment for all employees of the Board of Water and Light, and WHEREAS, the Human Resources Director, with the concurrence of the General Manager, has recommended to the Human Resources Committee that the Board of Commissioners approve an adjustment to the skill family salary ranges, and WHEREAS, the Board of Commissioners has been advised as to the necessity of such an adjustment and has had an opportunity to discuss its merits. RESOLVED, That the Board of Commissioners shall adopt the adjustments to the non- bargaining unit skill family salary ranges, as listed below. RESOLVED FURTHER, That the General Manager is authorized to develop all procedures necessary for its implementation. 45 _)ard Meeting May 25, 2004 Recommended Skill Family Range Adjustments: Skill Family FY 2004-05 Range Adjustment 1 Customer Service & Office 3.0% Directors 4.0% Engineering& Scientific 0.0% Finance &Purchasing 1.0% Human Resources &Legal 2.0% Information Technology 4.0% Marketing & 7.0% Communication Technical 14.0% 1 Skill family ranges are adjusted at midpoint to reflect the surveyed market movement for each skill family. Motion by Commissioner Duncan, seconded by Commissioner Joseph, to approve the resolution. Discussion: Commissioner Callen stated that the Human Resources Committee thoroughly discussed staff s recommendation to understand the basis of the data presented and the justification. Action: Carried unanimously. esolution 2004-5-11 G. PERFORMANCE INCREASE MATRIX—NON-BARGAINING UNIT EMPLOYEES WHEREAS, the Board of Commissioners is responsible, by Charter, for conditions of employment for all employees of the Board of Water and Light, and WHEREAS, the Human Resources Director, with the concurrence of the General Manager, has recommended to the Human Resources Committee that the Board of Commissioners adopt a new performance increase matrix, and WHEREAS, the Board of Commissioners has been advised as to the necessity of such a revision and has had an opportunity to discuss its merits. RESOLVED, That the Board of Commissioners shall adopt the revisions to the Non-Bargaining Unit Performance Increase Matrix, as listed below. RESOLVED FURTHER, That the General Manager is authorized to develop all procedures necessary for its implementation. Board Meeting 46 May 25,2004 Recommended Performance Increase Matrix for FY 2004-05: Appraised Level of Performance Salary Increase Percentage Range Power Performers Maximum of 7.5% 451 or higher Outstanding ' 5.0% or 5.5% 376 -450 Exceeds Expectation S z 3.5%, 4.0%, or 4.5% 276-375 Meets Expectations 3 2.0%, 2.5%, or 3.0% 226 275 Needs Improvement 4 1.0% or 1.5% 225'or less Fails 1 0.00% 1 The "Outstanding"performance level has been reduced to options of 5.0% or 5.5% for performance awards and the former 6.0%, 6.5%, 7.0% and 7.5% options have been removed. 2The"Exceeds Expectations"performance level has added the option of 3.5% along with the former 4.0% and 4.5% options, and the former 5.0% and 5.5% options have been removed. 3The "Meets Expectations"performance level has been reduced to the former 2.0%, 2.5%, and 3.0% options, and the former 3.5%option has been removed. 4 The"Needs Improvement"performance level has been reduced to the former 1.0% and 1.5% options, and the former 0.0% option has been removed. 50ther Considerations: In order to be eligible to receive a"Power Performer" award, an employee's performance level must be "Outstanding" and the employee must be nominated for the Power Performer Program by his or her Process Director. The Process Council jointly reviews nominees and makes recommendation for the General Manager's approval. The "Power Performer"performance level has been added as an additional level to the Performance Matrix. The performance award can be up to a maximum of 7.5%. Performance awards are applied to employees' base salary, regardless of their position within the range. Power Performer awards may range from zero to a maximum of 10 percent of the employees in each process. Motion by Commissioner Duncan, seconded by Commissioner Smith, to approve the resolution. Discussion: Commissioner Smith commented that because staff did an excellent job in detailing the justification for the proposed matrix, she is comfortable with this recommendation. Action: Carried unanimously. 47 oard Meeting May 25,2004 esolution 2.004-5-1 H. HEALTH CARE COST SHARING—NON-BARGAINING UNIT EMPLOYEES WHEREAS, the Board of Commissioners is responsible, by Charter, for conditions of employment for all employees of the Board of Water and Light. WHEREAS, the Human Resources Director, with the concurrence of the General Manager, has recommended to the Human Resources Committee that the Board of Commissioners approve the following health care cost-sharing measures for Non-Bargaining Unit Employees: 1) 10% premium sharing; 2) deductibles of $100.00 for employee and $200.00 for two or more, per calendar year; 3) a $20.00 office co-pay; 4) a $75.00 emergency room co-pay; and 5) prescription co-pays of$5.00 for generic brands and$15.00 for all other brands. WHEREAS, the Board of Commissioners has been advised as to the necessity of these cost- sharing measures and has had an opportunity to discuss the merits. RESOLVED, That the Board of Commissioners shall adopt the health care cost-sharing measures for Non-Bargaining Unit Employees. RESOLVED FURTHER, That the General Manager is authorized to develop all procedures necessary for implementation. Motion by Commissioner Duncan, seconded by Commissioner Smith, to approve the resolution. Discussion: Commissioner Duncan said she supports this resolution with a fair degree of reluctance, but facing reality, she believes the BWL and, in fact, all companies and units of government unfortunately have to grapple with the issue of rising health care costs. It is a growing part of everyone's budget. She indicated on the good side, as more procedures and more medicines become available, people are living longer, however, all of that costs money. She added it is absolutely essential for the BWL to institute these cost-sharing mechanisms as much as she regrets it. Commissioner Smith stated she too concurs cost-sharing measures need to be taken. She noted the Bargaining Unit is being asked to share in health care costs and that it is essential for all to share in this burden and responsibility. Commissioner Joseph also concurred with the continents made. He noted the information provided on how BWL compares with the industry average indicates BWL is still close to 50% of the industry average. Commissioner Callen said long before he got on the Board, he started seeing industries struggle with health care costs. Action: Carried unanimously. esolution 2004-5-13 I. SCHEDULE PUBLIC HEARING DATE FOR PROPOSED STREET LIGHT AND HYDRANT RIDERS FOR THE CITY OF LANSING WHEREAS, the Finance Committee received a briefing on May 11, 2004 of management's recommendations on a proposed Street Light Rider and proposed Fire Hydrant Rider to assist the City of Lansing in addressing its budgetary issues on a short-term basis. Through these 10-year riders, the City of Lansing would receive a rate discount on its street light and hydrant rates of up Board Meeting 48 May 25,2004 to 50% in the first year and up to 20% in the second year. In years 3-10, the City of Lansing would pay a rate surcharge of approximately 9% on the normal base rates. The riders were designed to assist the City without harming the ratepayers of the Lansing Board of Water and Light. On May 17, 2004, these proposed riders were incorporated into the City's budget by City Council. RESOLVED, That the proposed Street Light Rider for the City of Lansing detailed in the attached rider (Attachment A) be made the subject of a public hearing prior to further consideration by the Board of Commissioners: FURTHER RESOLVED, That the proposed Fire Hydrant Rider for the City of Lansing detailed in the attached rider (Attachment B) be made the subject of a public hearing prior to further consideration by the Board of Commissioners FURTHER RESOLVED, That a public hearing to solicit public input on the proposed riders be set for July 27, 2004, at 5:30 p.m., in the Board of Water and Light offices at 1232 Haco Drive. Also, that the Corporate Secretary be directed to file with the City Clerk information regarding the proposed riders on or before June 11, 2004. Motion by Commissioner Duncan, seconded by Commissioner Haggart, to approve the resolution. Action: Carried unanimously, UNFINISHED BUSINESS Water Main Construction and Customer Service Issues on Lansing CSO Projects. General Manager Novick reported at the November 25, 2003 regular meeting that the Board directed him to develop a strategy to address water main construction issues associated with the Lansing combined sewer overflow (CSO) abatement program. At that meeting Mr. Novick reported to the Board that he was planning to hire a degreed engineer dedicated totally to devising overall responses to reliability and service issues posed by the CSO project, including the issue of inspections. Mr. Novick also committed to the Board that staff would present an analysis of the CSO project with respect to BWL by early Spring. Mr. Novick introduced John Matuszak, Senior Engineer of System Integrity & Customer Projects who was hired to manage BWL interests in the CSO project. Mr. Matuszak gave a presentation on the CSO and water main program and discussed the BWL's experience with water main replacements in conjunction with the City's CSO project. He reported that for continuity and to avoid duplication, the City and the BWL use the same inspectors to monitor work done on both sewer and water lines in CSO areas. He reported that while current procedures are not completely free of problems, they are generally appropriate, cost effective, and provide a reasonably high level of service to BWL customers. He noted that separate inspectors on the same project would be redundant and create liability concerns. Additionally, some improvements can and are being made to the current inspection process. 49 jard Meeting May 25,2004 The Board thanked Mr. Matuszak for his comprehensive report and indicated they look forward to an update at the end of the construction season. NEW BUSINESS 312 N. Grand Avenue Property. General Manager Novick referred to a letter, dated May 13, 2004, from Patrick Reid of Reid and Reid regarding the Agreement to Sell between the Board of Water and Light and River Street Triangle, L.L.C, dated May 17, 2001. This agreement involves the sale of BWL property located at the corner of Shiawassee Street and Grand and City property located on the corner of Kalamazoo Street and Grand. Mr. Novick requested the Board's concurrence to postpone taking action on the agreement with respect to extending the agreement to December 31, 2004 until it is known whether the City will grant another extension to River Street Triangle. He said it is his understanding the agreement between the developer and the City expired in January, 2004. The developer requested and was given an extension until the end of June, 2004. The three-year term of BWL's agreement with the developer has now expired, or another option is the agreement can continue until one of the parties cancel. Mr. Novick recommended bringing this matter to a Board Committee prior to the regular meeting in July for discussion. He noted it is his understanding the City is negotiating with the developer to sever BWL's agreement from the City agreement. The BWL would then need to decide if it wants to cancel the agreement and put it out for bid, or give the developer more time either with or without an associated cost. Mr. Novick plans to send a letter to Patrick Reid advising that no decision was made regarding extension or cancellation of the agreement. The Board plans to revisit this issue in July. esolution 2004-5-1 On motion by Commissioner Joseph, seconded by Commissioner Callen, to support the General Manager's recommendation to postpone taking action on the agreement with River Street Triangle, L.L.C. at the present time. This matter will come before the Committee of the Whole for discussion and possible recommendation for Board consideration at the regular meeting in July. Carried unanimously. RESOLUTIONS There were no resolutions. GENERAL MANAGER'S REMARKS Lead Management Program. General Manager Novick reported a presentation on the BWL's lead management program will be given at the regular meeting in July. The report will include a comprehensive analysis on the BWL's current program status and a plan of action. Chili Cook-Off Advertising. General Manager Novick invited John Strickler, Director of Communications, to preview some of the advertising messages with respect to the "Down by the River Chili Cook-Off' event scheduled on June 11`h. Mr. Strickler stated that last Fall there was agreement to change some of BWL's advertising messages. He showed two TV spots and a Board Meeting 50 May 25,2004 radio spot promoting the BWL's sponsorship of the Chili Cook-Off and Lugnuts baseball team. He indicated plans are underway to produce messages that relate to the BWL's sponsorship of major events; namely, the Chili Cook-Off, Adopt a River, Common Ground, Lugnut sponsorship and Silver Bells in the City. Another series of messages will also be produced related to the Board's public power status and the benefits of public power ownership. COMMISSIONERS' COMMENTS Commissioner Smith commended staff for their excellent job in responding to Commissioner comments regarding advertising. She noted that the new ads are taking the BWL in a fresh direction. Commissioner Joseph congratulated the committee that worked on the Twenty-Five Year Dinner for their efforts in making the evening a great success. Commissioner Callen commented on Curt Gates' remarks concerning the Request for Proposals for a Pension Fund Investment Consultant. He said he is certain staff will be conscious about the amount to be paid for this service. Senior Vice President of Finance Dennis McFarland assured the Board that one of the key factors staff will consider as proposals are evaluated will be the economics and value of this service. Commissioner Callen asked staff for a response to Mr. Gates' remarks about a commitment made for inspection of CSO by BWL personnel. General Manager Novick responded that he was not aware of such a commitment. He added the Board minutes were researched and no reference was found to support Mr. Gates' understanding. Commissioner Haggart said the Board did have lengthy discussion on inspections in a special committee formed to review water main construction issues, but he does not recall the committee making a recommendation regarding inspectors. General Manager Novick stated that Senior Engineer John Matuszak will be involved with training inspectors to ensure a clear understanding of BWL standards. Commissioner Callen indicated he and the General Manager have been meeting regularly to discuss BWL issues, and the meetings have been very beneficial. All Commissioners have been invited to join them in these meetings. EXCUSED ABSENCE On motion by Commissioner Duncan and seconded by Commissioner Haggart, that the absence of Commissioner Wonch be excused. Carried unanimously. PUBLIC COMMENTS Joe Davis, President of IBEW Local 352, spoke on the importance of making the BWL one organization. He said BWL employees work hard to do the best at what they do, however, BWL 51 -)ard Meeting May 25, 2004 tends to compare itself to averages. In the BWL Vision Statement, it states that we would be the only utility our customers will accept. Mr. Davis emphasized the importance for BWL to focus on strategic leadership. Crystal Perry, 938 Alexandria Drive, Lansing, appeared before the Board to register a complaint about electric service problems she has been experiencing at her residence. She reported that losses have been suffered over the past weekend as a result of the heavy rainfall. She described various problems involving an extended outage due to a recent storm and momentary outages, which have been occurring over the past ten years. Ms. Perry asked for an explanation for the frequent intermittent electric outages and asked how it will be corrected. Chairman Callen stated to Ms. Perry that she has the attention of the Board and top management. General Manager Novick offered to meet with Ms. Perry after the meeting. ADJOURNMENT On motion by Commissioner Smith, seconded by Commissioner Duncan, the meeting adjourned at 7:40 p.m. Is/Mary E. Sova, Secretary Draft Filed with Lansing City Clerk 6111104 Final filed with City Clerk 7128104 Board Meeting 52 May 25,2004 ATTACHMENT A PROPOSED Board of Water & Light Lansing,Michigan Irk% .1 IN!1,1.P3 WATER&LIGHT Street Light Rider Purpose—The primary purpose of this rider is to enhance economic recovery&development in the Board of Water and Light (BWL) service area. It is available when, in the utility's sole judgment, the availability of the rider is a major factor in improving our regional economy, and when application of the rider will result in a net benefit to the BWL and its customers. Availability—This rider is available solely to The City of Lansing and applicable only to its street lighting service with the Board of Water and Light. To qualify for this rider, the City of Lansing must enter into a written contract with the BWL specifying the operational aspects of the rider, including the percentage rate discounts permitted. The rider shall be in effect for a period not exceeding ten years from the date of the contract; however, the discount rate portion of the rider is only available for the first two years of that period. Monthly Rate—Through June 30, 2005, the customer will be billed their normal monthly charges under Rate 31, less up to a 50%rate discount. From July 1, 2005 through and including June 30, 2006, the customer will be billed their normal monthly charges under Rate 31, less up to a 20% rate discount. During the remaining term of the contract, the customer will be billed their normal monthly charges under Rate 31, plus a rate surcharge of up to 9%. All references in this rider to Rate 31 mean the Rate 31 in effect at the time of billing. Delayed Payment Charge — A delayed payment charge of 5% of the unpaid balance, excluding delayed payment charges, shall be added to any bill which is not paid on or before the due date. Rules and Regulations — Service under this rider is subject to the BWL Rules and Regulations for Electric Service, which are incorporated herein by this reference. Adopted: Effective: Proposed- September 1, 2004 Expires: Proposed- July 1, 2014 53 and Meeting May 25,2004 ATTACHMENT B PROPOSED Board of Water& Light Lansing, Michigan IFIIMIIR--� WkTER&LIGHT W_ Fire Hydrant Rider Purpose—The primary purpose of this rider is to enhance economic recovery& development in the Board of Water and Light (BWL) service area. It is available when, in the utility's sole judgment, the availability of the rider is a major factor in improving our regional economy, and when application of the rider will result in a net benefit to the BWL and its customers. Availability—This rider is available solely to The City of Lansing and applicable only to its public hydrant service with the Board of Water and Light. To qualify for this rider, the City of Lansing must enter into a written contract with the BWL specifying the operational aspects of the rider, including the percentage rate discounts permitted. The rider shall be in effect for a period not exceeding ten years from the date of the contract; however, the discount rate portion of the rider is only available for the first two years of that period. Monthly Rate—Through June 30, 2005, the customer will be billed their normal monthly charges under Rate 6, less up to a 50%rate discount. From July 1, 2005 through and including June 30, 2006, the customer will be billed their normal monthly charges under Rate 6, less up to a 20% rate discount. During the remaining term of the contract, the customer will be billed their normal monthly charges under Rate 6,plus a rate surcharge of up to 9%. All references in this rider to Rate 6 mean the Rate 6 in effect at the time of billing. Delayed Payment Charge —A delayed payment charge of 5% of the unpaid balance, excluding delayed payment charges, shall be added to any bill which is not paid on or before the due date. Rules and Regulations — Service under this rider is subject to the BWL Rules and Regulations for Water Service, which are incorporated herein by this reference. Adopted: Effective: Proposed- September 1, 2004 Expires: Proposed- July 1, 2014