05-22-2017 BPU RPT 18 - Laserfiche WebLink

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W A T E R E N E R C Y I - RIVERSIDE PUBLIC UTILITIES WI& Board Memorandum P U B L I C U T I L I T I E S BOARD OF PUBLIC UTILITIES DATE: MAY 22, 2017 ITEM NO: 18 SUBJECT: RIVERSIDE PUBLIC UTILITIES WORKFORCE DEVELOPMENT EDUCATION LOAN PROGRAM FOR $200,000 ANNUALLY ISSUE: Recommend the City Council approval the Riverside Public Utilities Workforce Development Education Loan Program for $200,000 annually and the Educational Loan Agreement under the terms of the program. RECOMMENDATIONS: That the Board of Public Utilities recommend that the City Council: 1. Approve the Riverside Public Utilities Education Loan Program; 2. Approve the Educational Loan Agreement; 3. Authorize the City Manager, or his designee, to execute an Educational Loan Agreement with employee participants of the Riverside Public Utilities Workforce Development Education Loan Program, in a cumulative amount not to exceed $200,000 annually; and 4. Approve the expenditure, not to exceed $200,000 annually in tuition payments. BACKGROUND: The proposed Workforce Development Education Loan Program (ELP), has been designed to encourage higher learning to help meet our organization's growing talent needs and partner in the professional growth of staff to help prepare for the Utility workforce of the future. The Utility 2.0 strategic plan identified the need to attract, develop, and retain employees as a strategy to complete our planned infrastructure improvements. In • line with forward thinking organizations, this Recruitment and Outreach programs seeks to effectively build valuable internal employee talent pools by transforming our tuition assistance program from an entitlement into a strategic talent management tool. Additionally, it is believed that the proposed ELP will help RPU compete for great employees who may Engagement and Culture Training and Skills otherwise be enticed by higher private sector pay and benefits.