HomeMy Public PortalAbout08-07-2000 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 7,2000
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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 7,2000 in the Council Chambers in
the Municipal Building in said City.Chairperson Bing Welch presided with the following Councilmembers in
attendance:Howard"Jack"Elstro,Etta J.Lundy,Bruce Wissel,Karl Sharp,Larry Parker,Paul Combs,Phil Dickman
and Sarah"Sally"Hutton.The following business was conducted:
ROLL CALL
Nine present.
APPROVAL OF MINUTES
No minutes were available.
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 Wissel and the motion was carried by voice vote.
Bills Already Paid:
Payroll and Deductions July 21 and Aug.4 $ 497,687.05
Investments Purchased From:
Cash Operating Fund 1,100,000.00
Bond Sinking Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund 92,000.00
Insurance Reserve Fund
Consumer Deposit Fund
Cash Reserve Fund 181,875.00
Group Insurance Fund
Total Investments $1,373,875.00
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
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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 269,858.35
Total Prepaid Invoices 2,141,420.40
Total EFT/Direct Deposit of Payroll: (146,366.07)
Total Prepaid Invoices: 1,995,054.33
Total EFT Transfers: 1,933,953.25
Total Prepaids plus EFT Transfers: 3,929,007.58
Total Bills Not Paid: 1,510,457.41
Grand Total of Bills to be approved: $5,439,464.99
RP&L Minutes Cont'd
August 7,2000
Page 2
REMARKS BY CHAIRPERSON
Chairperson Welch commented that RP&L had been very fortunate with all the recent thunderstorms to have only a
few outages.
UNFINISHED BUSINESS
There was none.
STREET LIGHT COMMITTEE REPORT
Councilmember Elstro said there was no report.
REPORT BY GENERAL MANAGER
Standing in for General Manager David Osbum was Tracey Garrett,Finance Manager of RP&L,who asked the Board
for authorization to receive bids for a new 2000 Dump Truck as approved in the 2000 budget.She said this is a
replacement of Vehicle No.3,which is a 1990 dump truck with about 69,000 miles,which they will be trading in.
Councilmember Wissel moved to approve the request,second by Councilmember Parker and the motion was carried on
a voice vote.
Chairperson Welch stated that all of the Board members had received letters from Osburn detailing why last month's
financial picture looked so bleak and he asked Garrett for an explanation.She said June was a mild month,along with
July,and the City has not seen the extreme heat that is normally seen this time of year and they have not seen the
demands that are normally seen.She said cash flow is in good shape.
She said that the outage for Unit No.2 also played into that,noting that the unit had been down about half of
December,all of January and most of February.She said they were still in the process of working that out with the
insurance company,adding that the utility did absorb some extreme expenses to bring that unit back on line between
maintenance costs,labor and lost revenue.She said it affected the utility's bottom line well over$1 million.Bob Crye
in the maintenance department said they expect about$500,000 from the insurance company.He said,on the plus side,
while the unit was down they went ahead and did a regular five-year major maintenance on it which means they took
advantage of having it down.Crye said the power outage experienced by the unit was due to a high cycle fatigue.
Garrett said there was a slight outage last week on the east side of town due to a vehicle storm,and mentioned last
night's storm.She asked Mike Elstro to come forward and bring the Board up to date on these things.He said on July
31 a vehicle hit a transmission pole and broke it off above the distribution circuit,which affected 1,954 customers.He
said they were able to restore service in 82 minutes to around 150 customers,which were mostly industrial,and in
about 1.2 hours they were able to get the remaining customers back in service.He said they had three major circuits
affected by the storm last night with most of those being residential customers but it also hit in the northwest industrial
area as well as the east industrial area.He said they had four men out working all night and some are still out working
tonight.
NEW BUSINESS
There was none.
ADJOURNMENT
There being no further business,on a motion duly made,seconded and passed,the meeting was adjourned at 7:20 p.m.
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Bing Welch,Chairperson
ATTEST:
Myra Miller,Deputy Clerk