HomeMy Public PortalAbout08-01-2005 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RICHMOND, INDIANA, SERVING AS A BOARD
IN CHARGE OF THE OPERATION OF THE RICHMOND POWER & LIGHT PLANT
MONDAY, AUGUST 1, 2005
The Common Council of the City of Richmond, Indiana, serving as a Board in charge of the operations of
the Richmond Power & Light Plant met in regular session at 7 p.m. Monday, August 1, 2005 in the
Council Chambers in the Municipal Building in said City. Chairperson Welch presided.
ROLL CALL: Present were: Howard "Jack" Elstro, Etta Lundy, Bruce Wissel, Karl Sharp, Bing Welch,
Larry Parker,Al Glover, Diana Pappin and Gil Klose.
APPROVAL OF MINUTES: Board member Parker moved to approve the minutes of the meeting held
July 18, 2005. Board member Sharp seconded. The motion carried with a unanimous voice vote.
APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS:
Upon recommendation of the Finance Committee, Board member Pappin moved to approve the following
bills for payment with a second by Board member Klose. The motion carried with a voice vote.
Bills Already Paid:
Payroll and Deductions 286,703.84
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 387,633.36
Telecom. Div. Misc. Pre Paid Invoices: 63,033.84
Total Prepaid Invoices: 737,371.04
Total EFT/Direct Deposit of Payroll: (105,773.31)
Total Prepaid Invoices: 631,597.73
Total EFT Transfers: 1,601,332.04
Total Prepaids plus EFT Transfers: 2,232,929.77
Total Bills Not Paid: 821,272.90
Grand Total: $2,232,929.77
STREET LIGHT COMMITTEE: None
REPORT BY GENERAL MANAGER:
• Update on System Loading — Recent hot weather caused the system to peak; however, the heat
wave was handled well
• The Mobotec system continues to be"tuned"—testing is running smoothly
• The 2006 budget process has been initiated
• Mr. Osburn reported there is no direct impact to RP&L by the Energy Bill recently passed by
Congress
• RP&L will spend $2-3 million for allowances to finish the year. There needs to be additional
discussion to determine how to fund the necessary allowances. RP&L may need to borrow
money in order to maintain maximum flexibility.
MISCELLANEOUS BUSINESS: Board Chair Welch announced the Board will meet each month on the
fourth Monday to discuss financial affairs of RP&L.
Mr. Welch also reminded the Board of their meeting with IMPA in Indianapolis on September 22.
ADJOURNMENT:
There being no further business, the meeting was adjourned.
S/S Bing Welch
Bing Welch, Chairperson
S/S Karen Chasteen
ATTEST: Karen Chasteen, Clerk