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Home My WebLink AboutAgenda Truckee Donner Public utility District Post Office Box 309 ® 11570 Donner Pass Road E Truckee, California 95734 (916)587-3896 General Manager Board of Directors Peter L. Holzmeister Joseph R.Aguera John L.Corbett Richard K.Curran REGULAR MEETING James A. Maass 7:00 P.M. - FEBRUARY 19, 1991 Patricia S.Sutton TDPUD BOARD. ROOM �E��b 1kGEM�i�A 1. Call to order 2 . Roll call 3 . Public input (7 : 25 P.M. or as soon thereafter as possible) CONSENT AGENDA 4 . Resolution amending pension plan to incorporate the projected unit credit method of plan valuation UNFINISHED BUSINESS NEW BUSINESS 5. Possible action regarding water system improvements: a) Status report b) Consideration and possible acceptance of engineering report from Sauers Engineering cj Resolution of intention to .issue tax-exempt obligations and appointment of consultants dj Initiation of proceedings to fix standby charges ej Call for hearing on ordinance approving financing documents 6 . Award of bids: a) Wire and cable b) Heavy duty service truck for Water Department '�. D ;sauicxx :off rsre .meourrf : ROUTINE BUSINESS 8 . Consideration of draft minutes of January 21 and February 2 , 1991 9 . Correspondence a) Letter from W. Stevens dated 1/16/91 re Gateway easements 10 . Bills for approval 11 . Staff report CLOSED SESSION RETURN TO PUBLIC SESSION Posted,, nd mailed 2/ /91 kk ADJOURNMENT Su n M. Craig Deputy District Clerk Truckee Donner Public Utility District Post Office Box 309 • 11570 Conner Pass road • Truckee, California 95734 (916)587-3896 General Manager Board of Directors Peter L. Hoizmeister Joseph R.Aguera John L.Corbett Richard K.Curran REGULAR MEETING James A.Maass 7:00 P.M. - FEBRUARY 19, 1991 Patricia s.Sutton TDPUD BOARD ROOM AGENDA 1. Call to order 2 . Roll call 3 . Public input (7 : 25 P.M. or as soon thereafter as possible) CONSENT AGENDA 4 . Resolution amending pension plan to incorporate the projected unit credit method of plan valuation UNFINISHED BUSINESS NEW BUSINESS 5. Possible action regarding water system improvements: a) status report . b) Consideration and possible acceptance of engineering report from Sauers Engineering C) Resolution of intention to issue tax-exempt obligations and appointment of consultants d) Initiation of proceedings to fix standby charges e) Call for hearing on ordinance approving financing documents 6. Award of bids; a) Wire and cable b) Heavy duty service truck for Water Department ROUTINE BUSINESS 7 . Consideration of draft minutes of January 21 and February 2 , 1991 8 . Correspondence a) Letter from W. Stevens dated 1/16/91 re Gateway easements 9 . Bills for approval 10 . Staff report CLOSED SESSION RETURN TO PUBLIC SESSION Posted nd ma led 2 /91 ADJOURNMENT Susan M. Craig Deputy District Clerk Verbatim transcript of Debi Black's statement made at the February 19, 1991 Board meeting Debi - I have a few comments. . . . .but I feel that there is a lack of open communication between myself as an employee and Board members. I am an employee who has been dedicated dito this t the District work load asve is and a half years and I contribute necessary. . . .I've worked water committee meetings whenever they have arisen, whenever I 've been asked to work overtime, I 've worked it. . . . .I 've been at the District for twelve and a half hours this evening. This is not overtime; this is my own personal time. As you can see my daughter is accompanying me here. I think - there was a comment made on stress and what the stress factor involved - how it increases with overtime. My stress factor is when I am not allowed to perform l 'e been able capabilities. perform around really been restricted in he work this District. I 've been restricted from Board meeting attendance: I 've been restricted from performing to what I 'm capable of. It' s really improper. That's a stress agent. I resent the implication along the lines that I worked overtime in the Last week for an increased gross wage. Personally, I could have been paid straight time. I got the job done and that's what was important. Not whether I got double time, overtime, or what to the compensation was. I 've never been given the opportunity I ' ll try ry comment on the situation so I 'm going to take a minute - to make this brief. In the pay period you questioned, I worked eleven hours on Saturday with Mary Chapman and Joan Antonucci. I worked on Sunday which was a double time rate because I had worked on Saturday for seven hours, approximately, I don't have my time sheet here with me, but that was also with Mary and Joan. On Monday I sat with Bruce Grow from 3 : 30 in the afternoon until 8: 30 PM working solely on his work order number system so that it would be set up for his meter readers to work for that pay period. I worked a half hour after he left making computer entries. On Tuesday I worked from 8: 00 until 4 : 30 and then stayed until 5: 30, went home got my daughter dinner, put her to bed, came back around 9: 00 - I don't believe it was 11: 00 when I started, and I worked until 6: 00 AM trying to complete a task that had to be done on Wednesday because Wednesday I was required by the District to attend a doctor Is review in Sacramento. It wasn't my choice, it was a Worker's Comp requirement by the State Comp Insurance that I drive to Sacramento, have another evaluation and return to Truckee. So I did not take time off on stress leave, I was sent to a doctor' s evaluation. I put in the eight hours that were necessary to complete the task so the payroll - so I came down at 9 : 00 not knowing how long it was going to take me, but knowing the job had to get done. So I put in the time. I didn't ask to be paid double time for the sent down to Sacramento and I don't care about being paid double t m n ot asking for that. I 'm just working to get the job done. I just think I 'm continually feeling as though I have to defend my performance and after twelve and a half years here it' s really crazy to have to say I 'm trying to get my job done, I 'm trying to perform to the best of my ability and that's really it. I think it might have been better if perhaps I could have been involved in some of the discussion. . . . . . . .but I think there's a clearer picture. . . . . . . . . . . .I just. . . . Aguera - now that wasn't the point I don't think. it just brought to mind the overtime hours that were being spent over a short period of time. Debi - the task had to be done. Aguera - not just your hours, but Joan's. Debi -- that one eight hour block that I lost which could have been regular time. . . . Sutton - because you are incapacitated in some manner and have a Worker' s comp claim, Debi? Debi. - I have a Worker' s comp claim. Sutton - and that claim is related to stress. • Debi - yes. Sutton - I 'd like that part of the record, too. I think her whole statement should be part of the record and I don't believe I wish to make any comment in public session other than just to clarify that. Debi _ thank you for your time. smc s TRUCKFE DONNER PUBLIC LITY DISTRIcr C EItTICI.A'I'LS OI I'A1 CtI'A I'(ON (WATER SYSTEM IMPROVEMENT PROJECTS) SERIES 1991 NET CASII FLOW ($90 Standby Charge) 1.ASSUMPTIONS Debt Financing to Fund: Tahoe Donner Pipeline Repair $6,778,200 Olympic Heights Pipeline $388,000 Herringbone Booster Pumps $98,000 Telemetry System $750,000 $8,014,200 Proposed Debt: $10,140,000 2. OPERATING CASH FLOW Budget Projected 1991, : 1992 1993 1994 1995 1996 1997 1998 1989 Water Sates $1,748,993 $1,836,443 $1,941,303 $2,109,673 $2,354,484 $2,517,933 $2,643,829 $2,776,021 $2,914,822 Standby Charges $28,_5 0 $326,386 $316,594 $307, $297,883 $288,947 $280,27II $271,870 $26_, ,714 SUBTOTAL $1,777,493 $2,162,828 $2,257,897 $2,416,769 $2,652,367 $2,806,879 $2,924,108 $3,047,891 $3,178,536 Connection Fees $135,975 $140,054 $144,256 $148,584 $153,041 $157,632 $162,361 $167,232 $172,249 Other Revenues $119,190 $125,150 $131,407 $137,977 $144,876 $152.120 $159,726 $167,712 $176,098 Facilities Fees $75,000 $241,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 00 Income $145,000 $145,0. $145,000 $202,111 �202,111 $202,111_ $20 $202,11_1_ $ Interest 202,111 TOTAL REVENUES $2,252,658 $2,814,032 $2,778,560 $3,005,441 $3,252,395 $3,418,743 $3,548,306 $3,6$4,946 $3,828,994 OPS&MAINT EXPENSES $2,018,541_ $1 9_ 4� 3�2t33 $2,o21.014 $2 1� 01,855 S2,185,926 $2 2_73,3_Ii6 $2,364,300 $2,458,872 $2 557,227 NET REVENUES $234,117 $870,749 $757,,46 $9032 $1,066,467 $11r,_45�$77 $1,184,005 $1,226,074 $12�71�?66 Debt Service $0 $0 $688,678 $818,678 $816,658 $814,098 $816,048 $816,048 $816,048 $297,780 $297,780 $297,7$0 Prop 55 Loan Repayments $2,653 $13,843 $28,462 $5o,909 $215,809 $297,279 Tahoe Donner Restr. Fund $34,000 $34,000 $34,000 $34,000 $34,000 $34,000 $34,000 $34,000 $34,000 NET CASH FLOW $197,454 $822,906 ig 4_06 $0 $o $0 $36,177 $78,246 $123,938 Debt Service Coverage 110.00% 110.37% 130,59% 140.6911/o 145.09% 150.25% 155.84% Water':Sa€eS Increase."..: 35.b0.a/a 5.00% 5.71%:: 8.67% 11 6(]% 6.94�/a S.Oo°la `i.00°/a 5:00% >Standby:Cl�arges Increase O.UQ°/a 1.045.21° -3.00%i; -3.00% 3.00°/a -3.OUoja 3.00% 3.U0%" Includes annual growth rate of 5%,alter Budget 1991. 1. ASSUMPTIONS Debt Financing to Fund: Tahoe Donner Pipeline Repair Olympic Heights Pipeline Herringbone Booster Pumps Telemetry System Proposed Debt: 2,OPERATING CASH FLOW 2000 2001 2002 2003 Water Sales $3,060,563 $3,213,591 $3,374,270 $3,542,984 Standby Charges $255,803 $248,128 $2440 685 $233,464 SUBTOTAL $3,316,365 $3,461,719 $3,614,955 $3,776,448 Connection Fees $177,417 $182,739 $188,221 $193,868 Other Revenues $184,903 $194,148 $203,855 $214,048 Facilities Fees $100,000 $100,000 $100,000 $100,000 interest Income $202,111 $202,111 $202,111 $202,_111 TOTAL REVENUES $3,980,796 $4,140,71T $4,309,143 $4,486,475 OPS&MAINT EXPENSES $2,659,51 $2,765,897 $2 8^ 7� 6 5_33 $2.991,594 NET REVENUES $1,321,279 $1 33 8_20 $1,432,61fl $1,494,881_ Debt Service $816,048 $816,048 $816,048 $816,048 Prop 55 Loan Repayments $297,780 $297,780 $297,780 $297,780 Tahoe Donner Restr. Fund $34,000 $34,000 $34,000 $34,000 NET CASH FLOW $173,451 $226,992 $284 7T82 $347,053 Debt Service Coverage 161.910/0 168.47% 175.55% 183.19% Water Sales Increase' 5.00% 5.00% 5:00% 5.00% Standby<Charges Increase 3.00%, -3.00% 3.c1D% 3.00% I TRUCKEE DONNER PUBLIC UTILITY DISTRICT BILLS FOR BOARD APPROVAL — FEBRUARY 19, 1991 TOTAL ELECTRIC WATER DESCRIPTION CAMELLIA VALLEY SUPPLY T2,995.85r�______________2�995.85�INV. GATE VALVES, WATER DETERS, METER MAINT. SUPPLIES CARSON INDUSTRIES INC. 3,919.74 3,919.74 INV. ELECTRIC BOXES AND LIDS GENERAL PACIFIC INC. 2,008.83 2,008.88 INV. TRANSFORMERS, # 2 TRIPLEX WIRE GOODYEAR TIRE CO. 2,262.36 2,262.36 INV. TEN TIRES MICHAEL HOHL MOTOR COMPANY 16,639.98 16,639.98 PURCHASE 91 GMC 4X4 PICKUP FOR WATER DEPARTMENT BID APPROVED 10/15/90 M090--211 NORTHERN CALIF. POWER AGENCY 886.19 443.10 443.09 RATE STUDY GLENN BETTER & ASSC. 3,630.32 2,541.22 1,089.10 CONSULTANT FEE FOR REORGANIZATION OF WORK ORDER SYSTEM ANALYSIS OF OFFICE MGR/FINANCE DEPT. POSITION SEA ENGINEERING 21,300.80 21,300.80 ENGINEERING SERVICES—TAHOE DONNER LEAK ANALYSIS SAUERS ENGINEERING 6,854.50 6,854.50 TRUCKEE GENERAL PLAN (325.00) , GATEWAY TANK (5004.50) PROP. 55 (1525.00) STATE COMPENSATION FUND 1,041.42 1,041.42 MANDATORY CIGA SURCHARGE ON ESTIMATED PREMIUM TAHOE INSTANT PRESS 1,816.96 1,816.96 TDPUD NEWSLETTER WEST ONE BANK, IDAHO 9,248.85 9,243.85 PRINCIPAL & INTEREST PAYMENT ON COMPUTER (3 MONTHS) WESTERN STATE ELECTRIC 2. �—_— 282.982,282�98—_—__—_______INV. UNIVERSAL STANDVISE GUY ___ 74,888.83 23,748.55 51,140.28 s E Truckee Danner Public Utility District Post Office Box 309 • 11570 Donner Pass Road • Truckee, California 95734 (916)587-3896 Genera! Manager Board of Directors Peter L. Holzmeister Joseph R.Aguera ` John L.Corbett Richard K.Curran James A. Maass Patricia S.Sutton MEMORANDUM February 13, 1931 TO: Board of Directors From: Peter L. Holzmeister, General Manager Subject: Staff report a) Water qu.a.lity report Attached is a water quality report for the month of January 1991. b1 Water production report Attached is a memorandum prepared by Andy Hyde which analyzes water production by the District from 1978 to the present. l think it is important that we monitor our water production trends to identify any uses that can be curtailed. one big factor in our water production is the failing Tahoe Donner system. Once the leaks are repaired we should see a reduction in water production. cl Financial statements Attached are financial reports for December 1990. Also attached is the statement of general fund and investment report. During our recent workshop there was interest expressed in learning more about how these financial statements fit together. Staff will be prepared to walk the Directors through an analysis of the statements using an overhead presentation at the meeting. Revised work order system At the recent workshop I briefly touched on the subject of our revised work order system. Staff has spent a great deal of time implementing revisions in order to make the connection between money spent and work accomplished. Staff is enthused about the power of this improved analytical. task. We will take a few minutes at the meeting and put on a presentation of What we are doing to bring our plans into actual practice. e Securin otes on insurance On May 7 , 1991 our property and liability insurance package is due for renewal . We will be asking Frank B. Hall , our current insurance broker, for a renewal quote from Reliance Insurance Company and from other insurance markets that may be available. Our past experience has shown us that even when we begin the renewal process this early, we end up making decisions at the last minute. This is because the insurance carriers wait until the last minute to provide a quote, thus insuring that they reflect the most current market conditions in their quotes. We will endeavor to get an early quote by setting a cut- off date. PLH/smc Truckee Donner Public Utility District Post Office Box 309 • 11570 Donner Pass Rd. * Truckee, California 95734 Customer Service (916) 587-3896 Engineering Department (916) 587-3944 MEMORANDUM February 8, 1991 To: Peter L. Holzmeister, General Manager From: Debi Black, Engineering Technician Subject: Monthly Bacteriological Report - January 1991 Attached is the "Summary of Bacteriological Water Quality" report for the month of January, 1991. As you can see, the report shows that 28 of the 29 samples taken within the District's distribution system were free of coliform bacteria, and met the State' s drinking water standards. The only e of coliform bacteria within the sample indicating the presenc distribution system was taken at Kayhoe Court, in Olympic Heights. This sample did not, however, contain fecal coliform bacteria, and met the State's drinking water standards. When we were informed by whichto Cran�ner Engineering of the two tub the bacteria, we immediately tank sanother wsampleu at that containnd atlocation. The resanmple. indicated no coliform bacteria present. } you will notice, once again, the report indicates the presence of coliform bacteria at the Northside Well. Four samples were taken during the month at Northside Well. of these four samples, 4 tubes were found to contain coliform bacteria. HowveDistrictr, none of the Civ l Engineer tubes contained fecal coliform bacteria. Andy Hyde is continuing his investigation into the incidence of positive coliform bacteria at the Northside Well . cc: Andy Hyde, District Civil Engineer mgcm • SUMMARY OF BACTERINOGICAL WATER QUALITY • TRUCKEE DONNER PUBLIC UTILITY DISTRICT system source Samples Portions Percent Samples Portions Percent Yr./Month Collected Positive Positive Collected Positive Positive 1991 January (Truckee) 20 0 (Prosser) 8 26 5° 8 0 0 (Hirschdale) 1 0 0 1 0 0 5 Northside Well. (4 tubes) 6 Kayhoe Court, Olympic Hts. (2 tubes) SUMMARY OF BACTERIt UGICAL WATER QUALITY TRUCKEE DONNER PUBLIC UTILITY DISTRICT System Source Samples Portions Percent Samples Portions Percent Yr./Month Collected Positive Positive Collected Positive Positive 1990 Seutember (Truckee) 19 0 0 14 0 0 (Prosser) 7 0 0 8 p (Hirschdale) 1 0 0 1 a October (Truckee) 24 0 0 13 211 32% (Prosser) 9 0 0 10 0 0 (Hirschdale) 1 0 0 1 0 0 November (Truckee) 20 0 0 8 62 15% (Prosser) 6 0 0 8 0 0 (Hirschdale) 1 0 0 0 0 Deco g4 14% (Truckee) 23 03 1 0 13 0 0 0 (Prosser) $ 0 (Hirschdale 1 0 0 2 Northside Well (21 tubes) 2 Northside Well (6 tubes) 3 Truckee Library (1 tube) 4 Northside Well (9 tubes) Truckee Donner Public Utility District Past Office Box 309 11570 Donner Pass Rd. • Truckee, California 95734 n ineerin Department 91fi 587-3944 Customer Service (916) 587-3856 Engineering P ( ) MEMORANDUM Date: February 13, 1991 To: Peter Holzmeister, General Manager From: Andrew J. Hyde, District Civil Engineer sUBJECT: Water Production (Staff Report -- February 19, 1990) Attached is some information that might be of interestto you and the Board. The: first page is a table of water produced by all PUD sources for each year from 1978 to 1990, plus a listing of the number of water customers that the District served at the end of each of those 13 years, Also included in this table is a column that shows the yearly production divided by the number of customers for that year. The second, third and forth pages are graphical representations of the same data. The first thing to notice is that water production topped 1 billion gallons for the first time in 1990. The second conclusion to be made after reviewing the graphs is that the rate of change of production does not mirror the rate of change of number of customers. Customer growth occurred at two distinct rates during the period. The 1978 - 1981 rate was 12 . 7%, while the rate has been a constant 6 a since. Production increased a a rate of 5.7 o from 1978 through l9 S 4 and then change n production accelerated to 10.4% for the next four years and production increased 12 . 5% during the past three years. The rate of change- of water production - is clearly influenced by other factors than just the number of customers alone. The "other factors" T can readily identify are seasonal weather variations such as drought or rainy years, alteration of usage patterns by large customers (such as the golf courses or the mill) , and deterioration of our system (such as leaks in the Tahoe Donner pipelines. ) The effects of these factors is clearly visible on the graph of production per customer (Page Four. ) Production per customer was high in 1978 due, 1 am told, to high usage by the Tahoe Donner Golf Course. The golf course altered its irrigation procedures in 1979 and 198o to reduce consumption. Page Two - Memo February 13 , 1991 Water Production - Staff Report 1978, also marked the end of the last significant drought period. Production per customer stabilized from 1980 through 1986 at roughly 425 gpd, which matches the District standard for design of 500 gpd for single family dwellings. Unit production has increased steadily since 1986. This increase seems closely related to the increasing number of leaks that began about the same time. Please review this data. I 'd be happy to learn any insights you might have concerning additional ways to interpret the information, iTRUCKEE DONNER PUD WATER PRODUCTION AND WATER CUSTOMERS 1978-1990 PRODUCTION TOTAL TOTAL DIVIDED BY PRODUCTION NUMBER OF COMMERCIAL RESIDENTIAL A COUTS CUSTOMERS GAL/DAY YEAR MILLION GAL CUSTOMERS _ 1978 � _==437 -===2178 - 98-^ 1980 550 1979 457 2614 217 0 2810 426 198 473 3041 231 198 537 3519 258 3261 413 1982 557 3646 261 3385 419 1983 598 3889 273 3616 421 1984 621 4154 279 3875 410 1985 698 4471 294 4177 428 1966 717 4646 300 4346 423 1987 846 4828 300 4528 480 1988 844 5062 325 4737 457 1989 934 5209 369 4840 491 _ 517 1990 _-----==1044_ _=--5537--===__--3695168�________ --.- i WATER PRODUCTION 1978- 1 9Q TRUCKEE DONNER PUBLIC UTILITY DISTRICT 1100 z O � 1000 C7 w O 900 z n-e 8w } 100 600 Q 0 O 500 O 400 , 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 YEAR s total water production, million gallons 015 3 P-i�3 1 c"`)o a.5 �Q i . No. of CUSTOMERS 1978- 1999 TRUCKEE DONNER PUBLIC UTILITY DISTRICT 6000 5500 W oSoOo a H � _ 4500 w 4000 W 3500 3000 H O 2500 2 I 000 197 8 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 YEAR total number of customers (residential + commercial) Ci ! 0 1L A v 1z7-�L rJ is 5—T—v c'� PRODUCTION PER CUSTOMER 978-- 1990 TRUCKEE DOiNER PUBLIC UTILITY DISTRICT 600 d 550 a 500 450 400 Q a 350 I 1 t 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 YEAR + * ; TRUCKEE DONNER P.U.D. ELECTRIC BALANCE SHEET FOR PERIOD ENDING DECEMBER 31, 1990 CURRENT LAST YEAR Y-T-D AMOUNT Y-T-D AMOUNT ASSETS UTILITY PLANT 8,365,079.6$ 7,951,487,45 RESTRICTED FUNDS ADMINISTRATIVE BUILDING LEASE FUNDS 438,802.67 285,832.66 EMPLOYEE DEFERRED COMPENSATION-ICMA 101,415,1$ I53,197.35 EEA RESERVE FUND 1-9,000.00 19,000.00 FACILITIES PEES 714,178.16 575,321.05 STORM FUND 163,871.43 178,152.44 BUILDING FUND 5fi3,035T68 609^105`3$ TOTAL RESTRICTED FUNDS 2,101,302.72 1,820,708.88 15.4+ CURRENT ASSETS 1,387,219.72 1,156,346.60 GENERAL FUNDS ACCOUNTS RECEIVABLE, NET 519,419.33 1,0$1,218.97 DUE FROM WATER 317,861.93 88,460.06 MATERIALS AND SUPPLIES 249,422.97 224,234.74 INTEREST INCOME RECEIVABLE100,790.76 47,946.45 PREPAID EXPENSES AND OTHER 58,206.70 -43,202.71 ------------ TOTAL CURRENT ASSETS 2,632,521.41 2,641,419.53 .3- % UNAMORTIZED DEBT DISC AND ISSUE COSTS 163,030.41 173,090.41 PRELIMINAPY SURVEY COSTS AND OTHER 3,030.41 ----3,090Y41 TOTAL P.SSETS 13,266,666.22 12,589,250,87 5.4+ % TRUCREE DONNER P.U.D. ELECTRIC BALANCE SKEET FOR PERIOD ENDING DECEMBER 31, 1930 CURRENT LAST YEAR Y-T-D AMOUNT Y-T-➢ AMOUNT E Q U I T Y & L I A B I L I T I E S -------------------------------- RETAINED EARNINGS 7,677,256.75 7,530,237.86 DEBT ADMINISTRATIVE OFFICE BUILDING LEASE 2,818,573.00 2,138,573.52 R£A 118,573.52 138,5?3.52 85 IDAHO FIRST - IBM COMPUTER LEASE 54,608.23 87,19?. DEPT. OF ENERGY 00 __ ___00 TOTAL DEBT 3,068,181.75 3,175,771.37 3.4- % CURRENT LIABILITIES ACCOUNTS PAYABLE 1,254,262.39 1,103,6$1.03 215,215,98 217,852,13 CONSUMER DEPOSITS ACCRUED INTEREST PAYABLE 92,993.39 95,129,95 DEFERRED STANDBY FEES 25,287,50 26,385.00 ACCRUED COMPENSATION A RELATED COSTS - 35,511Y98 ---------- TOTAL CURRENT LIABILITIES 1,623,271.24 1,587,613.68 2.3* CONSTRUCTION ADVANCES 495,541.3Q 142,43Q.61 EMPLOYEE DEFERRED COMPENSATION - ICMA 202,41548 153,197-35 TOTAL EQUITY AND LIABILITIES 13,266,666.22 12,5$9,?5Q.S7 5.4+ % +� * TRUCKEE DONNER P.U.D. _ • ' ELECTRIC INCOME STATEMENT FOR PERIOD ENDING DECEMBER 31, 1990 LAST YEAR CURRENT CURRENT YEAR YEARLY BUDGET AMT Y-T-D AMOUNT Y-T-D AMOUNT TOTAL BUDGET €-) Y-T-D AMOUNT OPERATING REVENUE RESIDENTIAL 3,296,097.22 2,926,782.61 3,350,000.00 423,217.39 87.3 % RESIDENTIAL 2,201,958.77 2,249,795.94 2,300,000.00 50,204.06 97.8 % COMMERCIAL COMMERCIAL 1,257,305.44 630,400.60 625,000.00 5,400'00 CR100.8 % LARGEPUBLIC STREET AND HIGHWAY LIGHTIN .00 00 '00 SALES TO PUBLIC AUTHORITIES 91,997.08 63,633.80 90,000.00 6,366.?Q 92.9 X FUEL CHARGE 533,458.28 327,902.28 460,000.00 132,097.72 71.2 X 416,348.73 499,483.30 400,000.00 99,483.30CR124.8 X INTERDEPARTMENTAL -------------- TOTAL ENERGY SALES -7,797,165.52 6,717,998.73 7,225,000.00 507,001.27 92.9 iISC OPERATING REVENUE113,695.38 110,695.34 109,700.00 995,34CR1QQ.9 % MISCELLANEOUS RENTS 41,079.01 47,520.11 43,322.00 4,598.11CR110.6 STANDBY REVENUE 51,672.50 52,500.00 827.50 98.4 % --_-_---4+OOCR100.0 INTERDEPARTMENTAL RENT 56,000.00 116,004.00 116,000.00 TOTAL OPERATING REVENUE 8,061,509.91 7,044,290.68 7,546,522.04 502,231.32 93.3 OPERATING EXPENSES 264.58 96.0 % PURCHASED POWER 5,289,194.99 4,776,735.42 4,975,000.00 198, DISTRIBUTION PO OPERATIONS 307,892.70 365,468.00 507,299.00 141,831.00 72.0 % DISTRIBUTION OPERAMAINTTIONS 160,703.55 119,885.80 262,590.00 142,704.20 45.6 % CUSTOMER ACCOUNTING & INFORMATION 315,281.12 340,100.58 332,227.00 7,873.58CR102.3 X ADMINISTRATION & GENERAL 839,304.20 536,683.57 837,06$,00 300,384.43 64.1 % ADMINISTRATN 351,978.74 365,100.00 330,000.00 35,100.00CRI10.6 % DEPRECIATIOTHER OPERATING EXPENSES 20,626.38CR 189,213.23 - 138,084.00 ---51,129-23CR137.0 X TOTAL OPERATING EXPENSES 7,243,729,32T - `6,693,186.60 7,382,268-00- -689,08i-40 NET OPERATING REVENUE --N817,?80.59 351,104.08 164,254.00 186,850.08CP.213 7 % OTHER REVENUE (EXPENSE) 59,868.58CR133.2 X T " EST INCOME 214,335.07 239,868,5$ 180,000.00 INTER 39.23CR 89.0 % R 22 INTEREST EXPENSE 257,692-7QCR --n243,953-77CR ------------ -- - -----» - NET REVENUE (LOSS) W�_774_422-96Y T'_347,018.89Y 'F_98,061.00-- - 248T957.89CR353.8 X i * TRUCKEE DONNER P.U.D. * ' WATER BALANCE SHEET FOR PERIOD ENDING DECEMBER 31, 1990 CURRENT LAST YEAR Y-T-D AMOUNT Y-T-D AMOUNT A S S E T S UTILITY PLANT 2,105,471.69 1,846,310.79 RESTRICTED FUNDS EMPLOYEE DEFERRED COMPENSATION-ICMA 00 .00 FACILITIES FEES b17,981.00 542,777.51 WEST RIVER STREET ASSESSMENT DIST 10,338.12 9,508.37 BUILDING FUND 639,978.55 342,703.47 RESERVE FOR FUTURE METERS 601,449.32 515,438.41 8 39 TAHOE DONNER WATER SYSTEM FUND 122,231.87 , . PREPAID CONNECTION FEES 64,486.56 6 ,98181.52 TELEMETRY 45,226.33 41,763.S6 TOTAL RESTRICTED FUNDS 2,101,691.85 1,601,698.63 31.2+ % CURRENT ASSETS GENERAL FUNDS 00 .04 WEST RIVER STREET ASSESSMENT DIST 4,417.51 7,752.10 ACCOUNTS RECEIVABLE, NET 35,814.34 167,757.56 317,861.93CR 71,620.06CR DUE FROM ELECTRIC MATERIALS AND SUPPLIES 72,813.88 71,624.94 INTEREST INCOME RECEIVABLE 00 34,734.10 PREPAID EXPENSES 38,462. 8 31,650.71 TOTAL CURRENT ASSETS 166,353.12CR 224,555.31 174.1- % TOTAL ASSETS 4,040,810.42 3,672,564.73 10.0¢ % : r i TRUCKEE DONNER P.U.D. * ' RATER BALANCE SHEET FOR PERIOD ENDING DECEMBER 31, 1990 CURRENT LAST YEAR Y-T-D AMOUNT Y-T-D AMOUNT E Q U I T Y & L I A B. I L I T I E S -------------------------------------- RETAINED EARNINGS 3,661,006.33 3,468,556.35 DEBT BACKHOE LEASE 40 14,31&.07 TOTAL DEBT ------ .00 14,318,47 100.0- CURRENT LIABILITIES ACCO[�rlTS PAYABLE 39,969.18 31,361.28 CONSUMER DEPOSITS 36,497.33 36,949.88 ACCRUED INTEREST PAYABLE 40 417.55 DEFERRED STANDBY FEES 10,507.50 17,057.50 ACCRUED COMPENSATION & RELATED COSTS 15,455,44 15,455.44 - TOTAL CURRENT LIABILITIES 102,429.45 56,241.65 6.4+ % CONSTRUCTION ADVANCES 277,374.64 93,448.66 TOTAL EQUITY AND LIABILITIES 4,040,810.42 3,672,564.73 10.0+ % : * TRUCKEE DONNER P.U.D. WATER INCOME STATEMENT FOR PERIOD ENDING DECEMBER 31, 1990 LAST YEAR CURRENT CURRENT YEAR YEARLY BUDGET AMT Y-T-D AMOUNT Y-T-D AMOUNT TOTAL BUDGET (-) Y-T-D AMOUNT OPERATING REVENUE RESIDENTIAL 1,027,795.15 999,692.63 1,05D,000.00 50,307.37 95.2 % 240,198.58 256,602,55 245,000.00 11,602.55CR104.7 % COMMERCIAL 1.12 99.7 % INTERDEPARTMENTAL 548.88 548.88 550.D4 TOTAL WATER SALES 1,268,542.61 1,256,844.06 1,295,550.00 38,705.94 97.0 % HYDRANTS 49,468.07 51,713.75 65,000.00 13,266.25 79.5 % NISC OPERATING REVENUE 42,817.83 23,344.56 42,500.00 19,155.44 54.9 % KISCELLANEOUS RENTS651.00 861.99 650.00 211.99CR132.6 % STANDBY REVENUE .00 22,565.00 .00 22,565.00CR -------------- TOTAL OPERATING REVENUE 1,361,479.51 1,355,329.36 1,403,700.00 4$,370.64 96.5 % OPERATIONS SOURCE OF SUPPLY 16,526.95 I1,673.33 1,000.00 10,673.33CR167.3 % PUMPING 28,248.17 34,801.94 4,000.00 30,801.94CR870.0 % ? 442,860.03 520,227.26 425,000.00 95,227.26CR122.4 % PUMPING - POWER PURCHASED =8506.35CR488.7 % ER TREATMENT 59,013.75 73,556.35 15,050.00 s NSMISSION & DISTRIBUTION 76,443.42 79,976.47 28,247.00 51,729.47CR283.1 % TOTAL OPERATIONS EXPENSE ---623,092.32- -- 720,235.35 --473,297.00 246,938.35CR152.1 % KAINTENANCE EXPENSES SOURCE OF SUPPLY 3,937.50 3,860.91 5,500.00 1,639.09 70.1 % 34,000.0Q 1,724.16 94.9 % PUMPING 41,032.38 32,275.84 WATER TREATMENT 6,931.75 5,858.59 550.00 5,308.59CR 65.1 % `': TRANSMISSION & DISTRIBUTION 184,660.40 214,509.66 516,239.00 -- ------- -^- 4i.5 % TOTAL MAINTENANCE EXPENSES 236,562.03 ---256,505.00 556,289.00 299,784.00 46.1 CUSTOMER ACCOUNTING & INFORMATION 59,707.71 95,062.52 118,494.00 23,431.48 80.2 %: ADMINISTRATION & GENERAL 315,961.10 339,779.97 401,179.00 1 , .QOCR 61,399.03 64.6 % ... INTERDEPARTMENTAL RENT 56,000.00 116,004.00 DEPRECIATION 106,397.87 111,645.92 110,000.00 1,649.92CR101.4 %:' OTHER OPERATING EXPENSE 32,802.70 15,397.56 54,477.00 39,079.44 28.2 % ,? - r TOTAL OPERATING EXPENSE 1,430,523.73 1,654,634.32 1,713,736.00 - -W 59,101- -� - 68 96.5 %:: :NET OPERATING REVENUE 69,044.22CR ---299,304.96CR 310,036.00CR 10,731.04CR 96.5 % OTHER REVENUE (EXPENSE) INTEREST INCOME 143,588.80 158,230.94 145,000.00 13,23D.94CR109.1 % INTEREST EXPENSE 15,123.07CR 2,294.20CR 2,085.00CR 209.20 110.0 X EEDS FROM SALE OF 1.9 ACRES 231,660.47 335,818,20 .00 335,81$.00CR ON BOND REPURCHASE •00 .00 .00 ___-_____- --- NET REVENUE (LOSS) '--291,081.98- ---192-449-98- _-167,121 00CR _-359,570.98CR115.1-% Truckee Danner Public Utility District Past office Box 309 • 11570 Danner Pass Read + Truckee. California 95734 (916) 587-3896 .February 13, 1991 MEMORANDUM TO: Peter L. Holzmeister, General Manager FROM: Mary Chapman, office Manager SUBJECT: Investment report As of December 31, 1990, the District had the following investment comprised of the funds as detailed. YIELD AMOUNT iIINVESTMENTS LOCAL AGENCY INVESTMENT FUND 8.279A4,862,000.00� ELECTIC FUNDS REA RESERVE * 19,000. GEGENERAL FUND 1,300,223.28 FACILITIES FEES * 714,178.16 STORM DAMAGE FUND * 163,871.03 BUILDING FUND * 563,035.68 ___-______-- TOTAL ELECTRIC INVESTMENTS 2,760,306.15 WATER FUNDS FACILITIES FEES * 617,981.00 :BUILDING FUND * 639,978.55 RESERVE FOR FUTURE METERS * 601,449.32 TALiOE DONNER WATER SYSTEM FUND* 122,231.87 WEST RIVER ST. ASSESSMENT DISTRICT BOND REDEMPTION FUND * 10,338. 12, PREPAID CONNECTION FEES * 64,486.66 TELEMETRY RESERVE * 45,226.33 TOTAL WATER INVESTMENTS 2,101,691.85- TOTAL DISTRICT INVESTMENTS 4,862,000.00 * RESTRICTED FOR SPECIFIC USE PER BOARD RESOLUTIONS TRUCKEE DONNER PUBLIC UTILITY DISTRICT STATEMENT OF GENERAL FUND DECEMBER 31, 1990 HISTORY OF ACTIVITY FOR ?MONTH: BALANCE IN GENERAL FUND 11/30/90 ------- --3-04- `RECEIPTS ELECTRIC REVENUE 489,114.56 WATER REVENUE 125,890.47 STANDBY ELECTRIC 8,973.42 03 STANDBY WATER , 192.1 10 MISC. BILLING REVENUE ELECTRIC , . MISC. BILLING REVENUE WATER 100.00 CONSUMER DEPOSITS, ELECTRIC 24,441.25 CONSUMER DEPOSITS, WATER 3,880.00 CUSTOMER ADVANCES-OTHER ELECTRIC 7,325.00 CUSTOMER ADVANCES-FACILITIES FEES-ELECTRIC 2,600.00 CUSTOMER ADVANCES-OTHER WATER 2,250.00 CUSTOMER ADVANCES--METER FEES-WATER 1,350.00 tMISC. REVENUE .ELECTRIC 132.59 MISC. REVENUE WATER 42.32 MEDICAL INSURANCE (COBRA) 748.96 BAD DEBT RECOVERIES 1,131.60 ------ - TOTAL RECEIPTS 673,421.30 DISBURSEMENTS ACCOUNTS PAYABLE DISBURSEMENTS 624, 4.90 (6 LESS VOID CHECKS FOR PREVIOUS MONTHS (64.95} TRANS. TO ELECTRIC RESTRICTED FUNDS-FACILITIES FEE 2,600.00 TRANS. TO WATER RESTRICTED FUNDS METER FEES COLL. 1,350.00 ---r-- 4 TOTAL DISBURSEMENTS --- 628,359.95W BALANCE IN GENERAL FUND 12/31/90 1,387,234.39 DISTRIBUTION OF NON-RESTRICTED FUNDS AT MONTH-END: PETTY CASH/CUSTOMER SERVICES OPERATING FUNDS 600.00 TRUCKEE RIVER BALK GENERAL FUND CHECKING 86,411.11 LAIF GENERAL FUND (NOT RESTRICTED) --1,300,223.28- 1,387,234.39 STATEMENT OF GENERAL FUND: - Represents a picture of the check register from the beginning of the month to the end of the month. - A11 deposits and withdrawals are summarized by type of activity. - Balance at the end of the month equals the cash account balance on the electric financial statement. The amount that the electric department has advanced to the water department is listed as an accumulative total under "DUE FROM WATER" on the monthly financial statements. At the bottom of the report is a breakdown of the distribution (location) of the funds at the end of the month. The total for -ILAIF GENERAL FUND (NOT RESTRICTED) " is the same number that appears on the Investment Report provided for the sane period. BILLS FOR BOARD APPROVAL'. List of Bills for Board Approval is prepared two times per month and presented in the board packet; this items appears on the agenda under Routine Business. -- Items listed on the listing include but are not limited to the following: 1) invoices totalling more than $1, 000. 00 2) All director and manager expense reimbursement 3) All consultant bills 4) Other items needing special attention or requested to be specifically listed. The. Board has authorized staff to automatically pay certain types of invoices as itemized in Resolution 4Tr8440 INVESTMENT LETTER: - Represents a monthly report of the District current investments made up of both restricted funds and non--restricted funds. - Currently all surplus funds are invested in the Local Agency Investment Funds (aka LAIF) . This portfolio of funds is managed by the State of California or their agents. - The average interest earned for 1990 investments was 8 . 301% ; fourth quarter earnings were at 8 . 2790. - The advantages of investing in the LAIF are: 1) For some time this investment has out performed other conservative investments that are available to the District. 2) it is an extremely liquid fund; therefore, we are able to deposit and withdraw -with minimal notice and no resulting penalty. 3) This liquidity allows us to readily invest our surplus checking account funds so that they can earn interest until we need them. -- The individual investments tie directly to the investments listed on the corresponding balance sheets under assets on the financial statements by department. - The Investment Funds Activity Summary prepared at 12/31/90 describes the various transactions for the year: 1) Beginning balance at 1/1/90 2) Principal. additions 3) Interest additions 4) Withdrawals 5) Ending balance at 12/31/90 INAMENT FUNDS. ACTIVITY SUMMARY: 1990 (Presented 2/19/91) Beginning Principal Interest Ending ELECTRIC DEPARTMENT: Dal 1/1/90 Additions Additions Withdrawals Dal 12/31/90 REA Reserve Fund $ 19,000. 00 $ 19,000.00 Facilities Fees 575, 321. 05 101, 143 . 18 50, 775. 39 ( 13 , 061.46) 714 , 178. 16 Storm Damage Funds 178, 252.44 14 , 862 . 59 ( 29,244 .00) 163,871. 03 Building Fund 609 105. 38 BO 574 . 51 50 599 . 05 177 243 .26 563 035 . 68 Total. Electric Restricted Funds $1,381, 678 .87 181,717. 69 116, 237. 03 (219,548.72) $1, 460, 084 .87 El.ec General Funds 1 056 622 . 50 150 706. 87 92 893 . 91 -0- 1 300 223 . 28 Total Electric Funds $2,438,301.37 332,424.56 209,130.94 (219,548.72) $2,760,308.15 WATER DEPARTMENT: Facilities fees $ 542,777 .51 175, 176.00 49, 517 .94 (149, 490.45) $ 617,981. 00 Building Fund 342,703 .47 335, 818.20 37 , 418 . 28 ( 75, 961. 40) 639, 978.55 Reserve for Future Meters 515, 438 .41- 41, 040. 00 44 , 970.91 -0- 601, 449 .32 Tahoe Donner Water System Fund 80, 519 . 39 34 , 000. 00 7 ,712 .48 -0-- 122 , 231..87 West River Street Assm't Dist Band Fund 9, 508 . 37 -0- 829 .75 -0- 10, 338. 12 Prepaid Connection Fees 68,981.52 -0-- 5, 604 . 99 ( 10, 099 . 85) 64 , 486. 66 Telemetry Reserve 41 769 . 9G -0- 3 456. 37 -0-- 45 226 .33 Total Water Funds $1,601, 698. 63 586,034 .20 149 ,510 .72 (235,551.70) $2,1.01, 691.85 Total Restricted funds $4,040,000 .00 918, 458.76 358,641. 66 (455, 100 .42) $4,862,000.00 RESOLUTION NO. 9104 OF THE TRUCKEE DONNER PUBLIC UTILITY DISTRICT INTENTION TO ISSUE TAX EXEMPT OBLIGATIONS AND APPOINTMENT OF CONSULTANTS THEREFOR WHEREAS, the Board of Directors of the Truckee Donner Public Utility District desires to finance (i) the replacement of approximately 72 , 650 lineal feet of existing pipeline in the Tahoe Donner subdivision, (ii) the installation of approximately 2 , 500 lineal feet of pipeline between the Martis Valley Estates subdivision and the Olympic Heights subdivision, (iii) the construction of a booster pump station to pump water from the Herringbone Tank to the Donner View Tank and (iv) the purchase and installation of a telemetry system for the entire water system, including preliminary costs and cost incidental thereto (collectively, the "project") ; and WHEREAS, the District intends to finance the project with the proceeds of the sale of tax exempt obligations; and WHEREAS, prior to the issuance of such obligations the District sdesires to incur certain expenditures from available moneys of the District which expenditures are desired to be reimbursed to the District from the proceeds of the sale of such obligations; NOW, THEREFORE, BE 1T RESOLVED by the Board of Directors of the Truckee Donner Public Utility District as follows: 1. The District hereby states its intention to reimburse costs of the project not to exceed $4 , 000, 000 with proceeds of fixed rate tax exempt certificates of participation (the obligations) . 2 . The expected "issue price" of the obligations (the initial offering price of the obligations to the public, excluding bond houses and brokers, at which price at least ten percent of each maturity of the obligations was sold) is expected to be no more than $10, 500, 000. 3 . The issue date of the obligations is expected to be on or about May 3 , 1991. 4 . The last maturity of the obligations is expected to be during calendar year 2021. 5. This resolution has been adopted on or prior to the date (the expenditure date or dates) and the District will expend all or a portion of the moneys for the costs of the project; the expenditure date or dates will not be more than 18 months after the date hereof. 6. The expenditure date or dates will be within 18 months of the issue date. 7 . The project is expected to have an economic life of at least one year. 8 . Proceeds of the obligations that will be used to reimburse the District for costs of the project are not expected to be used directly or indirectly to pay debt service with respect to any obligation of the Distract, or to be held as a reasonably required reserve or replacement fund, or to replace funds that are or will be used in such manner. 9. The proceeds of the obligations will be deposited in the same fund or account from which the costs of the project will be paid by the District and will be invested in the same manner as the moneys in that fund or account. 10. This resolution is consistent with the budgetary and . financial circumstances of the District, as of the date hereof, particularly, no moneys have been, or are reasonably expected to be permanently allocated or otherwise reserved in the District's budget for costs of the project (other than proceeds of the obligations) . 11. This resolution is adopted as official action of the District in order to comply with any applicable regulation of the Internal Revenue Service relating to the qualification for reimbursement of District expenditures incurred prior to the issue date, is part of the District' s official proceedings, and will be available for inspection by the general public (during normal business hours of the District) at the main administrative office of the District or at the customary location of records of the Distract that are available to the general public. 12 . The District hereby appoints Rauscher Pierce Refsnes, Inc. as the underwriter of the obligations and Brown & Wood as bond counsel to the District so long as the fees of such consultants are contingent upon the sale and delivery of the obligations. 13 . All the recitals in this resolution above are true and correct and this Board so finds, determines and represents. Passed and adopted by the Board of Directors of the Truckee Donner Public Utility District at a meeting duly called and held within the District on the 19th day of February, 1991, by the following roll call vote: AYES: Corbett, Curran, Maass, Sutton and Aguera. NOES: None. ABSENT: None. TRUC E DONNER PUPLIC UTILITY DISTRICT f Sy J eph R. Ague , President ATTESTy' S n M. Craig, Deputy D` trict Clerk smc RESOLUTI ON NO. 9105 OF THE TRUCKEE DONNER PUBLIC UTILITY STi , INITIATION Off' PROCEEDINGS TO IX �A STA D CHARGES i / WHEREAS, the Board of Directors f the Truckee Donner Public Utility District desires to initiate the proceedings required to fix standby charges under the Uniform Standby Charge Procedures Act (Sections 54984 et seq. of the California Government Code, the "Standby Charge Act") ; and WHEREAS, the report of Sauers Engineering, Inc. , a qualified engineer is on file with the Truckee Donner Public Utility District' s Engineering Department and contains all of the following in accordance with Section 54984 . 2 of the Standby Charge Act: (1) a description of the standby charges and the method by which they will be imposed; (2) a compilation of the amount of the standby charges proposed for each parcel subject to the charges; (3) a statement of the methodology and rationale followed in determining the degree of benefit conferred by the service for which the standby charges are made; and (4) certain other factors listed in Section 54984 . 2 of the Standby Charge Act,• WHEREAS, a description of the lands upon which the standby charges are to be imposed is on file with the District' s Engineering Department; NOW, THEREFORE, the Board of Directors of the Truckee Donner Public Utility District hereby resolves as follows: 1. That the Board shall conduct a hearing at 7: 45 PM on March 11, 1991 to hear and consider all objections or protests, if any, to the passage of a resolution imposing standby charges at an annual rate of $80 per parcel, regardless of parcel size, applied to each parcel in the District for which water service is available but not used, as described in the engineering report and in the description of the lands upon which the standby charges are to be imposed. 2 . That the General Manager of the District shall cause to be published a notice of the time and place of such hearing on the proposed standby charges, pursuant to Section 6066 of the California Government Code, prior to the date set for the hearing, in the Sierra Sun, a newspaper of general circulation printed and published within the jurisdiction of the District. 3 . That the General Manager of the District shall cause to be mailed a notice in writing, at least 1.4 days prior to the hearing on standby charges, to each owner of land to be affected by the standby charges as described in the engineering report and in the description of the lands upon which the standby charges are to be imposed, and that such notice shall be mailed to the address shown on the last equalized assessment roll, or known to the Clerk of the District. Passed and adopted by the Board of Directors of the Truckee Donner Public Utility District at a meeting duly called and held within the District on the 19th day of February, 1991, by the fallowing roll call vote: AYES: Corbett, Curran, Maass, Sutton and Aguera. NOES: None. ABSENT: None. TR;CEE DONNER PUB IC UTILITY DISTRICT By �eph R. Ague , President ATTEST: Sus M. Craig, Deputy Distr` Jerk smc RESOLUTION NO. 9106 OF THE TRUCKEE DONNER PUBLIC UTILITY DISTRICT APPROVING CHANGE OF ACTUARIAL METHOD UNDER THE PENSION PLAN WHEREAS, prior to January 1, 1991, the funding method for the pension plan was the individual aggregate method, and WHEREAS, the Board of Directors of the Truckee Donner Public Utility District has concluded actuarial funding e best method underinterest of the the District to change the pension plan to the projected unit credit method; and WHEREAS, the Board of Directors understands that the projected unit credit method has been approved by the Internal Revenue Service pursuant to Revenue Procedure 85-29 ,' NOW, THEREFORE, BE IT RESOLVED by the Board of Directors to change the pension plan funding method effective January 1, 1991 . The President of the Board is hereby authorized to sign Exhibit "A" , a copy of which is attached, effecting such change. Pass ed and adopted by the Board of Directors of the Truckee Donner Public Utility District at a meeting duly called and held within the District on the 19th day of February 1991, by the following roll call vote: AYES: Corbett, Curran, Sutton and Aguera. NOES: None. ABSENT: Maass. TR EE DONNE P I,IC UTILITY DISTRICT By se R. Ague President ATTEST Susan M. Craig, Deputy strict Clerk smc Truckee-Donner Public Utility District Change in Actuarial Fundingg Methods As of .January 1, 1991 PRIOR FUNDING METHOD Prior to January 1, 1991 the funding method employed was the Individual Aggregate Method. ,NEW ACTUARIAL FUi'\"DI'.\"G METHOD As of Januar 1, 1991 the funding method will be the Projected Unit Credit Method, PLAN ADMINISTRATOR'S CONSENT The Plan Sponsor of the Truckee-Donner Public Utility District Defined Benefit Plan hereby consents to the change in funding method made effective January 1, 1991. It is understood that this change is a pproved by the Internal Revenue Service persuant to Revenue Procedure $5- 9. Dated this day of 1991. Truc Donner Public lity District by: