HomeMy Public PortalAbout12-02-2002 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,DECEMBER 2,2002
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,December 2,2002 in the Council Chambers
in the Municipal Building in said City.Chairperson Larry Parker presided with the following Councilmembers in
attendance:Howard"Jack"Elstro,Etta J.Lundy,Karl Sharp,Bing Welch,Bruce Wissel and Sarah"Sally"Hutton.
Paul Combs and Phil Dickman were absent.The following business was conducted:
ROLL CALL
Seven present.
APPROVAL OF MINUTES
The minutes of the meetings of November 18,2002 were approved on a motion by Councilmember Hutton,second by
Councilmember Welch and the motion was carried on a voice vote.
APPROVAL OF BILLS,INVESTMENTS AND TRANSFERS
Upon recommendation of the Finance Committee,Councilmember Hutton moved to approve the following bills for
payment,seconded by Councilmember Sharp and the motion was carried on a voice vote.
Bills Already Paid:
Payroll and Deductions (October 25,2002) $ 261,626.06
Investments Purchased From:
Cash Operating Fund
Bond Sinking Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund
Insurance Reserve Fund
Consumer Deposit Fund
Cash Reserve Fund
Group Insurance Fund
Total $ 261,626.06
Telecommunications Division Investments Purchased From:
Cash Operating Fund
Transfer from Cash Operating Fund to:
Cash Reserve Fund for Payment
To City in lieu of taxes
Transfer from Cash Operating Fund to:
Depreciation Reserve Fund
For Property&Plant
Transfers from Depreciation Reserve to:
Cash Operating Fund
Transfers from Consumer Deposit to:
Cash Operating Fund
Transfers from Utility Bond Reserve Fund to:
Bond Sinking Fund
Transfers from Cash Operating to:
Interest and Bond Principal
Bond Sinking Fund
Cash Reserve Fund
Utility Bond Sinking Fund
Depreciation Reserve Fund
Insurance Reserve Fund
Consumer Deposit Fund
Interest and Bond Principal
End of Month Petty Cash
Revenue Bonds
Interest Coupons Redeemed
Interest Coupons Redeemed
Bond Coupons
Miscellaneous Prepaid Invoices $ 158,612.77
Telecom.Div.Misc.Pre Paid Invoices: 11.618.66
Total Prepaid Invoices: 431,857.49
Total EFT/Direct Deposit of Payroll: (89,366.41)
Total Prepaid Invoices: 342,491.08
Total EFT Transfers: 1,366,607.59
Total Prepaids plus EFT Transfers: 1,709,098.67
Total Bills Not Paid: 808,365.04
Grand Total of Bills to be approved: $ 2,517,463.71
RP&L Minutes Cont'd
December 2,2002
Page 2
REMARKS BY CHAIRPERSON
Chairperson Parker had no remarks.
UNFINISHED BUSINESS
•
There was none.
STREET LIGHT COMMITTEE REPORT
Councilmember Elstro reported that he is still working on Wynfield.
REPORT BY GENERAL MANAGER
General Manager David Osbum said on the agenda tonight are requests for Board approval of the 2003 and 2004 RP&
L Expense Budgets,the 2003 RP&L Capital Budget,the 2003 Parallax Expense Budget and the 2003 Parallax Capital
Budget.He said since he had gone through these with Board members in previous meetings he would merely do a brief
summary to bring them up to current times.
Osbum said the operating expenses for 2003 are$63,217,249 and there is a slight increase for 2003,which totals
$65,290,465.He explained that the increase is primarily due to a major overhaul on one of the turbines.Revenues
being projected for 2003 are$63,698,648 and for 2004 are$66,531,255.
He said the 2003 Capital Budget totals$9,902,250 which is a fair amount over the utility's normal capital projects but
the big ticket item is the Mobotec environmental compliance project.He said he thought it was appropriate to approve
the Parallax budget separately,adding that the total there for 2003 is$599,299 with expenses of$735,582.He said
since the company is still in its infancy it is expected that it is operating at a loss,but added that things look very good
now with new businesses signing up.He said the Capital Budget for Parallax for 2003 is$391,943,adding that the bulk
of that is for projections of building out the fiber optic system.
Councilmember Wissel moved to approve RP&L's 2003 and 2004 Expense Budgets as well as the 2003 RP&L
Capital Budget as it was presented,second by Councilmember Sharp and the motion was carried on a voice vote.
Councilmember Sharp moved to approve the 2003 Parallax Expense Budget and the 2003 Parallax Capital Budget,
second by Councilmember Welch and the motion was carried on a voice vote.
Osbum expressed his appreciation to the department heads at RP&L for putting in a lot of hours for putting their
budgets together as well as Finance Manager Tracey Garrett,who molds all those budgets together.He also added his 111
appreciation of the Board's time to go over these things with him.
Osbum said he had distributed earlier to the Board copies of RP&L's latest customer service survey and reminded
them that earlier this year IMPA did a survey modeled after this one done by RP&L.He said the overall satisfaction
rating was 97 percent on the average.He said an area in which they can improve is communications and they will
continue to work on that.
Councilmember Wissel asked Osburn if,in the future when he has multiple handouts,he could get these to the Board
members prior to the night of the meeting,possibly adding them to their Council packets that are delivered to their
homes either on Wednesday or Thursday.Osburn said he would make an effort to get that done.In answer to a question
by Councilmember Wissel,Osbum said RP&L and IMPA are in the progress of collecting data about new generation.
NEW BUSINESS
There was none.
ADJOURNMENT
There being no further business,on a motion duly made,seconded and passed,the meeting was adjourned at 7:25 p.m.
Larry Parker,Chairperson
ATTEST:
Norma Schroeder,Clerk