HomeMy Public PortalAbout11-03-1997 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 3,1997
1 The Common Council of the City of Richmond, Indiana, serving as a Board in charge of the operations of the
2 Richmond Power & Light Plant met in regular session at 7 p.m. Monday, November 3, 1997, in the Council
3 Chambers in the Municipal Building in said City. Chairperson Bing Welch presided with the following
4 Councilmembers in attendance: Howard "Jack" Elstro, Etta Lundy, Bruce Wissel, Sarah "Sally" Hutton, Geneva
5 "Gene"Allen,Alan Stamper, Bob Dickman and Larry Parker. The following business was had to-wit:
6
7 APPROVAL OF MINUTES
8
9 The minutes of the meeting of Otober 20, 1997 were approved on a motion by Councilmember Hutton,second by
10 Councilmember Allen and the motion was carried on a unanimous voice vote.
11
12 APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS
13
14 Upon recommendation of the Finance Committee, Councilmember Hutton moved to approve the following bills
15 for payment,seconded by Councilmember Allen and by unanimous voice vote the motion carried.
16
17 Bills Already Paid
18 Payroll and Deductions 228,832.58
19
20 Investments Purchased From:
21 Cash Operating Fund 400,000.00
22 Bond Sinking Fund
23 Utility Bond Reserve Fund
24 Depreciation Reserve Fund 91,000.00
25 Insurance Reserve Fund
26 Consumer Deposit Fund
27 Cash Reserve Fund 171,385,00
28 Group Insurance Fund
29
30 Total Investments
31
32 Transfer from Cash Operating Fund to;
33 Cash Reserve Fund for payment
34 to City in lieu of taxes
35
36 Transfer from Cash Operating Fund to;
37 Depreciation Reserve Fund
38 for Property&Plant
39
40 Transfers from Depreciation Reserve to:
41 Cash Operating Fund
42
43 Transfers from Consumer Deposit to:
44 Cash Operating Fund
45
46 Transfers from Utility Bond Reserve Fund to;
47 Bond Sinking Fund
48
49 Transfers from Cash Operating to :
50 Interest and Bond Principal
51 Bond Sinking Fund
52 Cash Reserve Fund
53 Utilty Bond Sinking Fund
54 Depreciation Reserve Fund
55 56
Insurance Reserve Fund
Consumer Deposit Fund
57 Interest and Bond Principal
58 End of Month Petty Cash
59 Revenue Bonds
60 Interest Coupons Redeemed
61 Bond Coupons
62 Miscellaneous Prepaid Invoices 447,139.43
63 Total Prepaid Invoices 1,338,357.01
64 Less EFT/Direct Deposit of Payroll (49,862.43)
65 Total Prepaid Invoices 1,288,494.58
Total EFT Transfers 1,522,102.89
Total Prepaids plus EFT Transfers 2,810,597.47
Total Bills Not Paid 480.791.18
Grand Total 3,291,388.65
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RP&L Minutes Cont'd
November 3, 1997
Page 2
1 REMARKS BY CHAIRPERSON
2
3 Chairperson Welch reminded Board members that RP & L budget time is here and members should receive their
4 budget packets Thursday. He added that the first meeting on the budget will be at 7 p.m. Monday, November 10
5 in the large conference room in the service building at RP&L.
6
7 The Chairperson also commented that he had attended a meeting in Indianapolis with Bob Goodwin and Bob
8 Wiwi where they had met with the State Highway Department relative to projects which are in the planning stages
9 for Richmond. He said the main purpose of the meeting was to discuss the proposed plans for U.S. 27 North and
10 the interstate interchange at U.S.27 and the effect it will have on that section of the City.
11
12 He said RP & L will be impacted rather heavily because the state is proposing radical changes which will cause
13 the moving of all the utility lines of RP& L. He said it will be similar to what the state did on East Main Street a few
14 years ago, adding that it might possibly be even wider because they are proposing a seven-lane highway from the
15 hospital north to 1-70. Chairperson Welch said if that is the plan, it will mean all the lines will have to be moved
16 back quite a distance and that means RP& L will be looking at some definite heavy projects in that part of the City
17 in a few years.
18
19 He said a meeting will be held at IU East at 6:30 p.m. Thursday, November 13, where the state will be holding a
20 public informational hearing to lay out all the proposed alternatives and designs that will be considered for that
21 project.
22
23 UNFINISHED BUSINESS
24
25 There was none.
26
27 STREET LIGHT COMMITTEE REPORT
28
29 Councilmember Elstro said there should be something to report on the neighborhood districts by the next Council
30 meeting. He said the two parking lots are finished but there is still work to be done on the lot south of Elder
31 Beerman.
32
33 MISCELLANEOUS BUSINESS
34
35 There was none.
36
37 REPORT BY GENERAL MANAGER
38
39 Sitting in for the general manager was Tracey Garrett,financial manager for RP& L,who said she had no basic
40 report.
41
42 Councilmember Stamper asked if she could set up the budget like the City did theirs in 1997, stating they had
43 everything to compare to on one page.Garrett said she had some comparisons from last year, adding that she
44 had not seen the City budget but would like to see it to get some ideas.
45
46 Councilmember Allen said the way the RP& L budget was done last year was a lot more friendly than it had been
47 in previous years. She noted that what they wanted was comparisons and year to date figures. Garrett said they
48 would get that in this year's budget.
49
50 Chairperson Welch said he noticed a rather large amount in the EFT transfers and just wanted to confirm with
51 Garrett that they are Electronic Fund Transfers. She said they are transferring electronically the employee
52 withholding,state withholding and the I.M.P.A.transfer.
53
54 Councilmember Dickman said he noticed the operating revenues to date are down about$3 million,adding that
55 $1 million of that is residential.Garrett said some of that is due to the rate case, stating that the residential rates
56 were lowered.Also,she said,the usage is down a little with the mild winter last year and a pretty mild summer.
57 Councilmember Dickman said that reflects about 10 percent of the revenue and Garrett stated that several
58 different factors have played into that.
59
60 ADJOURNMENT
61
62 There being no further business,on a motion duly made,seconded and passed the meeting was
63 adjourned.
64
65
Bing Welch, Chairperson
ATTEST:
Norma Schroeder, Clerk