HomeMy Public PortalAbout07-15-1996 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 15,1996
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,July 15, 1996, in the Council Chambers
3 in the Municipal Building in said City. Chairperson Larry Parker presided with the following Councilmembers in
4 attendance: Howard "Jack" Elstro, Etta Lundy, Bruce Wissel, Sarah "Sally" Hutton, Robert Dickman, Alan
5 Stamper,Bing Welch and Geneva"Gene"Allen. The following business was had to-wit:
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7 APPROVAL OF MINUTES OF JULY 1,1996
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9 Councilmember Hutton moved the minutes be approved,second by Councilmember Dickman and the motion was
10 carried on a unanimous voice vote.
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12 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
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14 Upon recommendation of the Finance Committee, Councilmember Stamper moved to approve the following bills
15 for payment,seconded by Councilmember Allen and by unanimous voice vote the motion carried.
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17 Bills Already Paid
18 Payroll and Deductions 227,470.84
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20 Investments Purchased From:
21 Cash Operating Fund 1,200,000.00
22 Bond Sinking Fund
23 Utility Bond Reserve Fund
24 Depreciation Reserve Fund 4,172,301.76
25 Insurance Reserve Fund
26 Consumer Deposit Fund
27 Cash Reserve Fund 1,031,923.13
28 Group Insurance Fund
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30 Total Investments 6,404,224.89
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32 Transfer from Cash Operating Fund to;
33 Cash Reserve Fund for Payment 109,334.11
34 to City in lieu of taxes
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36 Transfer from Cash Operating Fund to.,
37 Depreciation Reserve Fund
38 for Property&Plant
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40 Transfers from Depreciation Reserve to:
41 Cash Operating Fund
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43 Transfers from Consumer Deposit to:
44 Cash Operating Fund
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46 Transfers from Utility Bond Reserve Fund to:
47 Bond Sinking Fund
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49 Transfers from Cash Operating to :
50 Interest and Bond Principal
51 Bond Sinking Fund
52 Cash Reserve Fund
53 Utility 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 269,332.24
63 Total Prepaid Invoices 7,010,362.08
64 Less EFT/Direct Deposit of Payroll (39,878.67)
65 Total Prepaid Invoices 6,970,483.41
Total Bills Not Paid 625.576.13
Greed Total 7,596,059.54
RP&L Minutes Cont'd
July 15, 1996
Page 2
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1 REMARKS BY CHAIRPERSON
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3 Chairperson Parker announced that when the time came to discuss the resolution concerning the rate case,
4 anyone in the audience wishing to speak could do so after members of the Board had spoken to it. However, he
5 said,comments from the audience would be limited to five minutes each.
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7 UNFINISHED BUSINESS
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9 There was none.
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11 STREET LIGHT COMMITTEE REPORT
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13 There was none.
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15 •
16 MISCELLANEOUS BUSINESS
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18 There was none.
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21 REPORT BY GENERAL MANAGER
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23 General Manager Irving Huffman announced that after tabulation and evalution it was recommended that the bid
24 for the track hopper feeding system be awarded to Jeffrey Division of Global Processing Systems for$23,398.
25 Councilmember Wissel moved to accept the recommendation,second by Councilmember Hutton and the motion
26 was carried on a unanimous voice vote.
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28 Resolution No.3- 1996 was presented and Huffman asked for a motion to authorize the filing of the testimony for
29 I.U.R.C. Cause No.40434. Councilmember Allen commented on two things in the 1995 financial statement on
30 which they did their cost of service study which she said she hoped would not be included in the 1996 rate case.
31 She said one is the over funding of the pension plan and the other is the subsidizing of the cafeteria plan.
32 Huffman responded that the pension plan is not over funded. He added that he is going to have the actuaries of
33 the pension plan make a presention to the Board, noting that the pension plan is on target with what was set as
34 the criteria.
35
36 During the public hearing,John Washington,2103 South L Street, questioned the purchase of energy from IMPA.
37 He requested a meeting with Councilmembers Stamper and Allen who, he said, are used to working with
38 numbers. He accused RP& L of selling energy to IMPA at less than what it pays to buy it back, noting there is
39 some discrepancy when it comes to buying and selling megawatts of energy.President Parker said he would set
40 up a meeting with Washington.
41
42 Councilmember Wissel expressed his appreciation of the time and information given at the RP &L meeting last
43 Monday ,commenting that he was given the information he needed to make an intelligent decision.
44 Councilmember Welch moved to approve the resolution submitting testimony and documentation to the I.U.R.C.
45 in consideration of the rate case,second by Councilmember Elstro and the motion was carried on a unanimous
46 voice vote.
47
48 Huffman said the State Board of Accounts had brought to the attention of RP&L an amendment that needed to
49 be made to Resolution No. 6-1995 which was the salary resolution. He noted the amendment made and
50 President Parker requested that the amendment verbage be highlighted and submitted to the Board at the next
51 meeting. Huffman agreed to do that.
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53 Huffman said a group of qualified individuals were meeting tonight representing the Department of Energy and
54 Asea Brown Bavaria to talk about the$80 million sulphur dioxide emission project which was started in 1992. He
55 said Phase II is the proposal to be presented to RP& L and to this Board before September 1996. Huffman said
56 $2 million has already been spent on what he called a win-win situation for both parties. President Parker noted
57 that the money was spent by A.B.B.and the Department of Energy, not RP& L.
58
59 Councilmember Elstro commented on the recent meeting in Councilmember Stamper's office with the prosecutor
60 in the rate hearing.Councilmember Welch questioned about having such a meeting without prior approval as to
61 the cost per hour.Councilmember Stamper said President Parker knew about the meeting ahead of time.
62 Councilmember Wissel commented about the meeting Huffman had with three other Board members with the
63 intervenors. Huffman said that meeting took place before they became intervenors. Councilmember Welch said
64 because of the meeting in Councilmember Stamper's office additional testimony was going to be required in the
65 rate case which was going to cost well beyond the$500 spent on the meeting.
RP&L Minutes Cont'd
July 15, 1996
Page 3
1 ADJOURNMENT
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3 There being no further business,on a motion duly made,seconded and passed the meeting was
4 adjourned.
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11 Larry Parker, Chairperson
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17 ATTEST:
18 Norma Schroeder, City Clerk
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