Title
Resolution - Approval of 2020 Rate Plan - N Mack | D Thompson
Other Info
Submitted By: Robyn Miller on behalf of David Thompson
Department: Markets
Financial Impact and Cost/Benefit Considerations: As discussed in executive session.
Discussion
The Rate Policy requires that a rate plan be presented to the Board annually.
Rate Policy, Section 4.3. Rate Plan
The Rate Plan will define how the Cooperative anticipates recovering its costs from members for services provided during the upcoming year. The Rate Plan will be presented to the Board annually and will be consistent and in alignment with the annual budget cycle. Approval by the Board will authorize management to execute the Rate Plan. The Rate Plan will have the following major components:
4.3.1. Forecasted revenue collections from Rates for at least a 12-month period;
4.3.2. Forecasted reserves for at least a 12-month period; and
4.3.3. Recommendations for changes to Rates for at least a 12-month period.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS that pursuant to the Rate Policy, the Board has reviewed and approves the 2020 Rate Plan, with such changes, if any, as were discussed by the Board; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designees, are authorized to take all such action as may be necessary to implement this resolution.