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CITY OF RIVERSIDE <br /> _ PUBLIC UTILITIES DEPARTMENT <br /> Finance/Marketing Committee Meeting <br /> MINUTES <br /> MARCH 31, 2010 <br /> COMMITTEE MEMBERS PRESENT: STAFF MEMBERS PRESENT: <br /> Ken Sutter (Chair) Dave Wright, Utilities General Manager <br /> Bernie Titus Reiko Kerr, Utilities Chief Financial Officer <br /> Bob Elliot Gary Nolff, Assistant General Manager Resources <br /> Mary Curtain Kevin Milligan, Assistant General Manager Water <br /> ABSENT Mike Bacich, Utilities Customer Relations Manager <br /> None Dora Burns, Utilities Assistant Chief Financial Officer <br /> Brian Seinturier, Utilities Finance/Rates Manager <br /> Kim Wyman, Utilities Pricing Analyst <br /> VISITORS PRESENT: <br /> David Pearcy, Riverside Resident <br /> Chairman Sutter called the meeting to order at 9:00 a.m. <br /> 1. CITIZENS PARTICIPATION <br /> None. <br /> 2. FINANCIAL PLANS <br /> Assistant General Manager Finance/Customer Services Kerr presented the electric and water financial <br /> plans used in the most recent electric and water bond issues and discussed challenges in meeting plan <br /> projections while maintaining the current bond ratings. <br /> 3. RESERVE LEVELS <br /> Assistant General Manager Finance/Customer Services Kerr discussed the current electric and water <br /> reserve levels, their respective components, and recommendations for the future necessary to maintain <br /> current credit ratings to minimize rate impacts. <br /> 4. ELECTRIC COST OF SERVICE STUDY <br /> Assistant General Manager Finance/Customer Services Kerr presented the results of the Electric Cost of <br /> Service Study. <br /> 5. UAB 32 UPDATE <br /> General Manager Wright provided a summary of recent activity of the California Air Resources Board <br /> ("ARB") and Governor Schwa rzenegger's letter to the ARB's Chair regarding the implementation of AB32 <br /> (Global Warming Solutions Act). <br /> 6. GENERAL MANAGER'S REPORT <br /> None. <br /> 7. ITEMS FOR FUTURE MEETINGS <br /> None. <br /> Having no other business, the meeting adjourned at 10:15 a.m. <br /> By: Dated: 3/31/10 <br /> Reiko A. Kerr, Public Utilities CHef Financial Officer <br />