HomeMy Public PortalAbout07-15-2002 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,JULY 15,2002
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,July 15,2002 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,Paul Combs,Phil Dickman and Sarah
"Sally"Hutton. The following business was conducted:
•
ROLL CALL
Nine present.
APPROVAL OF MINUTES
The minutes of the July 1,2002 meeting 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 Dickman and the motion was carried on a voice vote.She added that almost$17
million of that represents investment purchases.
Bills Already Paid:
Payroll and Deductions $ 270,070.56
Investments Purchased From:
Cash Operating Fund
Bond Sinking Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund 2,836,508.63
Insurance Reserve Fund
Consumer Deposit Fund
Cash Reserve Fund 2,139,708.60
Group Insurance Fund
Total $ 4,976,217.23 •
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 $ 113,117.59
Telecom.Div.Misc.Pre Paid Invoices: 25,126.64
Total Prepaid Invoices: 5,386,532.02
Total EFT/Direct Deposit of Payroll: (90,987.31)
Total Prepaid Invoices: 5,295,544.71
Total EFT Transfers: 710,025.22
Total Prepaids plus EFT Transfers: 6,005,569.93
Total Bills Not Paid: 1,035,025.78
Grand Total of Bills to be approved: $ 7,040,595.71
RP&L Minutes Cont'd
July 15,2002
Page 2
REMARKS BY CHAIRPERSON
Chairperson Parker had no remarks.
UNFINISHED BUSINESS
There was none.
STREET LIGHT COMMITTEE REPORT
Councilmember Elstro said he had received a petition for streetlights in Henley Hills and said he would look nto it and
report back to Council.
REPORT BY GENERAL MANAGER
General Manager David Osburn asked the Board for authorization to purchase a No.2 feed water heater replacement
for Unit NO. 1.He explained that RP&L had already budgeted this year to replace some other equipment and in
talking with Plant Manager Bob Crye,he felt that the replacement of the other equipment could be postponed.
Therefore,he said,he would like to go ahead and replace the feed water heater since it is a higher priority than the
other.Crye said the price is$29,360 and he stated they would like to go ahead and get that work done.
Councilmember Wissel moved to approve the authorization to purchase the feed water heater replacement,second by
Councilmember Sharp and the motion was carried on a voice vote.
Osburn continued,saying that the utility had had some problems with the voltage regulator on Unit No.2 static exciter,
and he asked the Board for authorization to purchase a replacement.He said$180,000 had been budgeted originally for
that so there was certainly enough money without having to make changes in the budget.He explained that if they
proceed with the replacement now,it would be discounted$35,000 off the price which would be a considerable
savings.Crye said this would be installed during the fall outage,adding that the cost would be$130,000 after the
discount.
Councilmember Wissel moved to authorize the General Manager to purchase the voltage regulator,second by
Councilmember Welch and the motion was carried on a voice vote.Osburn expressed his appreciation to the Board for
its action.
In other business,the Board authorized Osbum to purchase SO 2 allowances not to exceed$375,000 on a motion by
Councilmember Welch,second by Councilmember Sharp and carried on a voice vote.
Osburn also stated that he had given the Board members copies of a recent customer satisfaction survey,adding that
IMPA had agreed to do a survey on behalf of its members and they had modeled that survey after RP&L's.He pointed
out that in those results RP&L did very well,compared to the other companies in the industry in the state.
Osburn said he would be unable to attend the August 5 meeting of the Board.He said he would be attending an EPRI
Board meeting,but Tracey Garrett would be sitting in for him.
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