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<br /> <br /> RIVERSIDE PUBLIC UTILITIES <br /> Board Memorandum <br /> <br />BOARD OF PUBLIC UTILITIES DATE: APRIL 25, 2022 <br /> <br />SUBJECT: UPDATE ON THE ELECTRIC AND WATER CREDIT RATINGS <br />ISSUE: <br />Consider receiving an update on the Electric and Water credit ratings. <br />RECOMMENDATION: <br />That the Board of Public Utilities receive and file an update on the Electric and Water credit ratings. <br />BACKGROUND: <br />At a Board of Public Utilities (Board) meeting, an update on the Water credit rating was requested <br />to be brought back to the Board. This update is responsive to this request. <br />DISCUSSION: <br />Public Utilities Finance, and PFM Advisors will discuss <br />the attached presentation on the Electric and Water Credit ratings. <br />STRATEGIC PLAN ALIGNMENT: <br />This item contributes to Strategic Priority 5 - High Performing Government and Goal 5.3: <br />Enhance communication and collaboration with community members to improve transparency, <br />build public trust and encourage shared decision making. <br />This item aligns with each of the Cross-Cutting Threads as follows: <br />1. Community Trust Presentation of information on the credit ratings provides a <br />transparent view and communication of Utility finances in a forum that accommodates <br />community engagement and the involvement of Board of Public Utilities. <br /> <br />2. Equity Presentation of information on the credit ratings is available to all members of the <br />public via the City website, and the presentation of the credit information in a public forum <br />accommodates community engagement from all members of the public. <br /> <br />