Salt River Project Agricultural Improvement & Power District

The committee held a meeting covering several operational and informational items. Key topics included a recap of the 2024/2025 annual canal dry-up, which detailed maintenance and repair activities on both the Southside and Northside canal systems. Additionally, the committee received an informational presentation regarding the groundwater withdrawal infrastructure and the proactive management approach for the Salt River Valley Water Users' Association's supply system. The meeting also included a report on current events by the General Manager and Chief Executive Officer.

The Compensation Committee meeting addressed the investment performance of the SRP Employees' Retirement Plan and the SRP Employees' 401(k) Plan, featuring an investment manager presentation by Causeway Capital Management LLC. The Committee discussed current portfolio positioning, market outlook, and performance analysis. Additionally, the agenda included a request to close the Managed Accounts feature within the 401(k) Plan and a report on current events provided by the General Manager and Chief Executive Officer.

The meeting agenda included recognition of Service Awards for various lengths of service, reports from Council Committee Chairs and Liaisons, and an informational presentation on the recovery level of the Fuel and Purchased Power Adjustment Mechanism (FPPAM). Key discussions also involved the national and local economic outlook, focusing on the labor market, consumer spending, inflation, and economic development pipeline forecasts. Furthermore, reports were scheduled on the Power System, Finance and Information Services, and Water Stewardship. The safety minute focused on SRP's Electrical Safety Workshop.

The Facilities & Support Services Committee meeting agenda included several key items for discussion and potential action. Key topics involved seeking approval to use eminent domain to acquire land rights for the Germann-Rhinehart 69 Kilovolt (kV) Transmission Line Project. Another primary item was requesting approval to dedicate approximately 12,500 square feet of land to the Town of Queen Creek as a road right-of-way connected to the Rhinehart Substation Project. The committee also addressed requests for approval regarding the conveyance of land related to a well site exchange with Kaser Citrus, Inc. (KCI) due to a boundary dispute, and the conveyance of a 0.25-acre well site property to the Maricopa Stanfield Irrigation and Drainage District (MSIDD). A review of District and Association Damage Claims for the period of August 1, 2025, through October 31, 2025, was also presented, which detailed a claim settlement involving damage to a claimant's sewer lateral during pole replacement work.

The Board of Directors meeting agenda included service awards for two personnel members. The Consent Agenda covered several items, notably the request for approval of minutes from January 13 and February 2, 2026, the approval of the January 2026 Monthly Cash Statement, and numerous requests for approval to contribute funds to various organizations including Maricopa Community Colleges Foundation ($186,000 over three years), Valley of the Sun United Way ($135,000), Chicanos Por La Causa (CPLC) ($75,000 over three years), Northern Arizona University (NAU) Foundation ($65,000), Arizona Faith Network ($50,000), Central Arizona Shelter Services (CASS) ($35,000), and Foster360 ($35,000). The agenda also included requests for approval to use eminent domain for a transmission line project and to dedicate land for a road right-of-way related to the Rhinehart Substation Project. Further discussions included reports from the Compensation Committee regarding the cancellation of the Managed Accounts feature in the SRP Employees' 401(k) Plan, the Power Committee regarding approval for purchase agreements for the Pumped Storage Project equipment, and the Finance and Budget Committee regarding an update on the Revolving Credit Agreement. The meeting also featured informational presentations on the Recovery Level of the Fuel and Purchased Power Adjustment Mechanism (FPPAM) and the Economic Outlook, as well as reports from General Manager Jim Pratt on Power System, Finance and Information Services, and Water Stewardship updates.