Utility Committee Agenda and Packet 2020 09 08

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Cltvof Louisville COLORADO • SINCE 1878 City Council Utility Committee Draft - Meeting Minutes Tuesday, August 11, 2020 COUNCIL CHAMBERS Councilmember Lipton began by acknowledging this meeting is being held electronically as a result of City facilities being closed due to COVID-19. He explained how the electronic meeting will operate and what procedures should be followed when you want to speak. Call to Order — Councilmember Lipton called the meeting to order at 10:00 a.m. II. Roll Call was taken and the following members were present: City Council: Councilmember Lipton, Mayor Pro Tem Councilmember Maloney, Councilmember Fahey, Mayor Stolzmann Joining Staff: Mrs. Balser, Mr. Kowar, Mr. Watson, Mr. Peterson III. Approval of Agenda Mayor Pro Tern Maloney motioned to approve the agenda and Councilmember Fahey seconded the motion. All approved the Agenda. IV. Public Comments on Items Not on the Agenda No Attendees V. Draft 2021 Rates • Page 3-4 — Financial Plan and Performance Metrics, Mr. Peterson gave an overview explaining the drivers for the utility rates and impacts for next year. Mr. Peterson highlighted that the 2021 draft rates utilize the recent direction of meeting targets and minimums based on the combined funds of all 3 utilities together. This allows for items like debt coverage to drop below targets in one fund if the overall combined total are met. • Page 5 — Debt Service Coverage, Mr. Peterson explained that the two debt service coverage rations of with and without tap fees tend to align with each other and provide a level of validation to each ratio on their own. • Page 6 - Performance Metrics, Mayor Pro Tern Councilmember Maloney asked if we are keeping 4 months in our Cash Reserves and asked Mr. City of Louisville Public Works Department 749 Main Street Louisville CO 80027 303.335.4608 (phone) 303.335.4550 (fax) www.louisvilleco.gov 9