Alan E. Huth

The Joint Governance Committee meeting included a review of the proposed 2025 Board and Committee Meeting Schedules and a review of the 2025 Slate of Board Officers and Committee Members, recommending both to the Joint Boards of Directors for approval. The committee also conducted a semi-annual review of the 2021-2025 CMEEC Strategic Plan, covering progress in areas such as power supply, growth, financial balance, communications, member services, and organizational development. Members were reminded to complete the Board Self-Assessment by the December 1, 2024 deadline.

The meeting included discussions and actions related to the selection of a chair and vice chairperson, with David Westmoreland and Maria Borges-Lopez elected respectively. The Comprehensive Annual Financial Report for the fiscal year July 1, 2014, to June 30, 2015, was reviewed, including changes and updates presented by Kevin Barber. Key discussion points included the economic outlook, the impact of the SoNo Collection Mall, and various financial aspects of the District's operations, such as the OPEB trust and capital projects.

The meeting included discussions and actions on several key items. The contract ratified by the bargaining unit employees between the Second Taxing District of the City of Norwalk and IBEW Local 420, AFL-CIO was approved. The commission also discussed and approved SNEW's increased ownership in the CMEEC Microgen Project after Wallingford Electric Department withdrew from the project. The auditors for the fiscal year ending June 30, 2019 were selected, and the 2019-2020 District Budget was approved and recommended to the electors. Management provided updates on reservoir levels, the mall project, CMEEC-related legislation, water main breaks, and electric outages. The status of Aquarion's application to draw water from the Cannondale Aquifer was also discussed.

The meeting included a review of first quarter 2024 financial results via the Master Dashboard, a review of capital project status, and a discussion of the CMEEC 5-Year Financial Plan. The committee discussed whether to include a maximum cap on municipal rate stabilization funds or minimum/maximum balances for the Municipal Competitive Trust funds in the Plan. An update was provided on the renewal of the Bank of America Line of Credit, with a vote to recommend to the Board for approval.

The meeting primarily focused on the analysis and discussion of the 2023-2024 draft district budget. Key discussion points included the allocation of funds between the Water and Electric departments, with a significant emphasis on the capital needs of the Water Company. The potential sale of the Water business was raised as a strategic consideration due to the extensive capital investments required. The commission also reviewed a five-year capital plan for Water, detailing numerous projects and their associated costs. Additionally, there were presentations on the General Fund, Water Operating Budget, and Electric Operating Budget, with discussions on revenue, expenses, and reserve funds. The commission also discussed the meter replacement and the new meter reading vehicle.