HomeMy Public PortalAbout11-02-1998 //,3
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,NOVEMBER 2,1998
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,November 2, 1998,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 Lundy,Robert Dickman,Sarah"Sally"Hutton,Geneva"Gene"Allen,Dennis
R.Rice Sr.,Bing Welch and Bruce Wissel.The following business was conducted:
APPROVAL OF MINUTES
The minutes of the meeting of October 19, 1998,were approved on a motion by Councilmember Hutton,second by
Councilmember Welch and the motion was carried on a unanimous 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 Allen and by unanimous voice vote the motion was carried.
Bills Already Paid:
Payroll and Deductions
Investments Purchased From:
Cash Operating Fund
Bond Singing Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund
Insurance Reserve Fund
Consumer Deposit Fund
Cash Reserve Fund
Group Insurance Fund
Total Investments
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 110,671.68
Total Prepaid Invoices 110,671.68
Less EFT/Direct Deposit of Payroll
Total Prepaid Invoices
Total EFT Transfers: 1,206,583.77
Total Prepaids plus EFT Transfers: 1,317,255.45
Total Bills Not Paid: 506,545.43
Grand Total of Bills to be Approved: 1,823,800.88
/AP
RP&L Minutes Cont'd
November 2, 1998
Page 2
REMARKS BY CHAIRPERSON
Chairperson Parker had no remarks.
UNFINISHED BUSINESS
There was none.
STREET LIGHT COMMITTEE REPORT
Councilmember Elstro said work is moving right along.
REPORT BY GENERAL MANAGER
General Manager David Osburn asked the Board for authorization to contract for a gas flow distribution model study
for Unit No. 1 with the amount not to exceed$50,000.Councilmember Elstro so moved,second by Councilmember
Hutton and the motion was carried on a unanimous voice vote.Osburn said the proposed budget had been distributed
and would be discussed at the meeting at 7 p.m.Monday,November 9,at the RP&L service building.
NEW BUSINESS
There was none.
ADJOURNMENT
There being no further business,on a motion duly made,seconded and passed,the meeting was adjourned.
Larry Parker,Chairperson
ATTEST:
Norma Schroeder,Clerk