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Meeting was adjourned at 4:53pm

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A motion to recieve and file correspondence was approved

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Now into the Legal Committee

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They're doing a career fair in the next couple weeks

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Minutes and agenda approved

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That's it for Customer Service, next up is the HR committee

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They are being sharply questioned by the board. If people can't afford their water bill how are they going to afford these subscriptions?

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Everything is on a subscription basis

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A slide on the firm's investments to date

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They say they have 95% customer approval rating

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Now a presentation from the team at American Water Resources for damage mitigation

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Onto the customer service presentation. Variable call volumes really impact speed of answers

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Now public comment. Meeko Williams of Hydrate Detroit says that EasyPay is too expensive and loaded with fees, putting strain on the city's poor due to the mayor's moratorium ending

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A push is going on to open more DivDat kiosks, including in City Hall

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Customer Service Committee was called to order

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Next up will be the Customer Service Committee at 3pm

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They're also in the process of getting new electric vehicles. They have a bunch of new Ford Mavericks

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Currently on track to be 66% in compliance with their own vehicle replacement policies. The goal is 80% by 2028

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A breakdown of the current fleet

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Now the Fleet Annual Update by manager Darryl Roberts

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They're kicking up a training campaign to get more people certified to make repairs around the city

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Currently 155nfire hydrants out of order in the city

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First up David Ridgeway, project manager with the maintenance repair division will give a presentation on that division

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That's it for the audit committee, next up at 2:30 will be the Capital Improvements Program and Operations Committee

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2026-224 is an amendment to the Audit charter. Passed

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An overview of the plan The goal is to gradually increase the internal audit office's size and comprehensiveness over the next few years

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Samantha Camarena is going to deliver the Internal Audit Implementation and Value Delivery plan

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Agenda and minutes approved

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Audit committee has been called to order

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That's it for the finance committee . Audit Committee is next a 2pm. I'll see you then

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Revenues a unexpectedly low is the gist of it, but that's been basically the case for a while.

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Moving on to the financial report from Istakur Rahman

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Luckily, the government massively outspent their budget and started a war with a major regional power so rates shot up again to above 5.30% which is like a 30 year high. So we're doing great and normal and consistent and everyone should be happy./s

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Then in early '23, Silicon Valley Bank collapsed, all the people who thought that was gonna be a good idea fled to government bonds and the rates plummeted down past 3% so the Fed started issuing huge debt, triggered a selloff and rates spiked to 5% then back down to 3

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Just after the pandemic they were crazy low, like 1%, then Russia invaded Ukraine and domestic inflation hit 9% for reasons I'm sure no one can explain, and rates shot up to like 3.5% over the summer of 2022.

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Mention of attractive Treasury rates, so just FYI, in the last 5 years US Treasury bonds experienced one of the most dramatic rises in modern financial history. From approximately 1.55% in October 2021 to between 5.30% and 5.35% in October 2026. That's like 380 basis points

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The investments include 11% mortgage backed securities and 3% supranational funds

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Here's the current portfolio. GovMIC, which is run by PFM Asset Management, is a special fund for governments that offers some deals. It's an excellent and exceedingly safe fund according to the presenter who works for PFM Asset management

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Well the good news is the formula for unemployment still doesn't take into account people who have stopped looking for work or are chronically underemployed, so that means we're at full employment!

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I gotta say this presentation feels like it's geared towards someone who fell asleep in 1996 and just woke up as a Water Commissioner last week.

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