HomeMy Public PortalAbout07-01-1996 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 1.1996
•
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 1, 1996, in the Council Chambers in
3 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 and Bing Welch. The following business was had to-wit:
6
7 APPROVAL OF MINUTES OF JUNE 17 AND JUNE 24.1996
8
9 Councilmember Hutton moved the minutes be approved,second by Councilmember Dickman and the motion was
10 carried on a unanimous voice vote.
11
12 APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS
13
14 Upon recommendation of the Finance Committee, Councilmember Stamper moved to approve the following bills
15 for payment,seconded by Councilmember Hutton and by unanimous voice vote the motion carried.
16
17 Bills Already Paid
18 Payroll and Deductions 237,328.82
19
20 Investments Purchased From:
21 Cash Operating Fund 2,378,094,18
22 Bond Sinking Fund
23 Utility Bond Reserve Fund
24 Depreciation Reserve Fund
25 Insurance Reserve Fund
26 Consumer Deposit Fund
27 Cash Reserve Fund
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 91,000.00
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 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 180,839.00
63 Total Prepaid Invoices 2,887,262.00
64 Less EFT/Direct Deposit of Payroll (42,724.77)
65 Total Prepaid Invoices 2,844,537.23
Total Bills Not Paid 610 370.31
Grand Total 3,454,907.54
RP&L Minutes Cont'd
July 1, 1996
Page 2
1 REMARKS BY CHAIRPERSON
2
3 There were none.
4
5 UNFINISHED BUSINESS
6
7 There was none.
8
9 STREET LIGHT COMMITTEE REPORT
10
11 There was none.
12
13 MISCELLANEOUS BUSINESS
14
15 There was none.
16
17 REPORT BY GENERAL MANAGER
18
19 General Manager Irving Huffman offered the proof of publication for a track hopper feeder published in the
20 Palladium-Item June 20 and June 27.Councilmember Elstro moved to accept it,second by Councilmember
21 Welch and the motion was carried on a unanimous voice vote.
22
23 The first bid opened was from Jeffrey Inresco of Woodruff,S.C.which was for$11,474 each,plus an invertor duty
24 motor at$468 each and an enclosure at$225 each.The second bid opened was from Ohio Transmission&Pump
25 of Monroe,Ohio,for$39,562.50,plus alternate$1,666.67 and the invertor duty motor at$2,750.Councilmember
26 Wissel moved to refer the bids to the general manager for evaluation,tabulation and recommendation,second by
27 Councilmember Lundy and the motion was carried on a unanimous voice vote.
28
29 Councilmember Stamper asked Huffman whether or not the Board members will have an opportunity to vote on
30 the rate case before it is filed. Huffman responded that the consultants will be here for the July 8 meeting and that
31 step needs to be taken first and go through it and the revelations at that meeting will dictate what to do in the
32 future. Councilmember Stamper said he wanted to make sure the ratepayers have time to represent their feelings
33 and it seems with this deadline they won't be able to do that.
34
35 John Washington questioned Huffman on the charge for kilowatt hours in Louisiana and California and Huffman
36 said he was comparing apples with peaches. He said rather than try to explain,Washington needs to visit RP&L
37 and Herschel Philpot,the finance manager,can explain and compare rate schedules for him.
38
39 Councilmember Stamper said Board members were given a sheet at the Monday,June 24 meeting that
40 represents RP&L's income as a utility in 1994 and now much is paid out in payment in lieu of taxes. He pointed
41 out that all those numbers were not 1994 numbers as Philpot had said but were 1993 numbers mistakenly
42 identified as 1994. He added that when the numbers were reported they had already been included in the
43 payment to the City twice.He said he wanted to make sure that was part of the public record. Rather than answer
44 Councilmember Stamper, Huffman asked Philpot to step forward to speak to the issue. Philpot said he thinks the
45 sheet handed out is part of a report done with the finance committee of the Council. Councilmember Stamper said
46 the payment to the City is always taken out first,showing the net income then showing the payment to the City
47 from that number. Philpot said that is true and Councilmember Stamper said that the payment to the City is a line
48 item above the net income.Philpot said when he used the numbers he used them to try to show that RP&L was
49 paying an adequate amount in payment in lieu of taxes.
50
51 Councilmember Dickman said he thought they had agreed the Board would give its approval to the rate case after
52 it is prepared butbefore it is filed. President Parker concurred. Huffman said he had no problem with that. He said
53 he feels the Board should listen to the consultants first before it decides to do something, noting they will present
54 the case to the IURC and they are the experts.
55
56 ADJOURNMENT
57
58 There being no further business,on a motion duly made,seconded and passed the meeting was
59 adjourned.
60
61
62 •
63 Larry Parker, Chairperson
64
65
ATTEST:
Norma Schroeder,City Clerk •