HomeMy Public PortalAbout10-15-2001 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,OCTOBER 15,2001
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,October 15,2001 in the Council Chambers in
the Municipal Building in said City.Chairperson Phil Dickman presided with the following Councilmembers in
attendance:Howard"Jack"Elstro,Etta J.Lundy,Bruce Wissel,Karl Sharp,Bing Welch,Larry Parker,Paul Combs
and Sarah"Sally"Hutton.The following business was conducted:
ROLL CALL
Nine present.
APPROVAL OF MINUTES
The minutes of the meeting of September 17,2001were approved on a motion by Councilmember Hutton and second
by Councilmember Welch and 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 Combs and the motion was carried on a voice vote.
Bills Already Paid:
Payroll and Deductions $ 258,034.95
Investments Purchased From:
Cash Operating Fund 800,000.00
Bond Sinking Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund 14,474,794.70
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Insurance Reserve Fund
Consumer Deposit Fund
Cash Reserve Fund 356,618.00
Group Insurance Fund
Total $ 15,923,619.06
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 $ 222,360.51
Miscellaneous Prepaid Inv.Telecom: 45,631.07
Total Prepaid Invoices: 16,449,645.59
Total EFT/Direct Deposit of Payroll: (84,385.29)
Total Prepaid Invoices: 16,365,260.30
Total EFT Transfers: 636,481.42
Total Prepaids plus EFT Transfers: 17,001,741.72
Total Bills Not Paid: 715,917.56
Grand Total of Bills to be approved: $ 17,717,659.28
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RP&L Minutes Cont'd
October 15,2001
Page 2
REMARKS BY CHAIRPERSON
Chairperson Dickman had no comments.
- UNFINISHED BUSINESS
There was none.
STREET LIGHT COMMITTEE REPORT
There was none.
REPORT BY GENERAL MANAGER
General Manager David Osbum requested authorization to purchase 13.8 KV Circuit Breakers explaining that this is an
item the utility does not keep in stock.Councilmember Wissel asked if this would add to the efficiency,but Osburn
said it affects reliability and this would be a maintenance savings resulting in some efficiency gains.Councilmember
Elstro moved to authorize the purchase,second by Councilmember Welch and the motion was carried on a voice vote.
Chairperson Dickman asked Osburn if buying 10 breakers would put RP&L up to 50 percent of the breakers with a
higher technology.Osbum answered that this will probably get the replacement procedure completely finished.He said
the purchase would be made over an 18-month time.
Osburn said a budget meeting will be held November 12 at the service building at RP&L.He also stated that the
budget for Parallax would also be presented as well,but if there isn't time another meeting would be set to do that.He
also said,at the request of Councilmember Parker,the utility has been reviewing its security and a list has been made of
those measures and the cost of implementing them has also been estimated.He said a time should be set to do that in ah
executive session.
Osburn shared with the Board members a plaque presented to RP&L by the Indiana Urban Forestry Council as the
outstanding business for promoting principles of urban forestry in Indiana.He mentioned several people with RP&L
who are responsible for promoting this and carrying out the project,stating that Harry Phillips,Marketing Manager, ,
takes the lead on this.He also mentioned that its Fall Foliage day Saturday at the Hayes Arboretum where RP&L will
be giving away free trees.
He reported on the Indiana Energy Conference in Indianapolis sponsored by the Indiana Chamber of Commerce where
he heard an energy forecast which came out of Purdue University,adding that although the natural gas prices are not
going to come down but will not be as high as they were.He also noted that electricity prices will remain stable over
the next year.
NEW BUSINESS
There was none.
ADJOURNMENT
There being no further business,on a motion duly made,seconded and passed,the meeting was adjourned at 7:35 p.m.
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Phil Dickman,Chairperson
ATTEST:
Myra Miller,Deputy Clerk