HomeMy Public PortalAbout02-05-1996 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, FEBRUARY 5,1996
1 The Common Council of the City of Richmond, Indiana, serving as a Board in charge of the operations of the
2 Richmond Pawer & Light Plant met in regular session at 7 p.m. Monday, February 5, 1996, in the Council
3 Chambers in the Municipal Building in said City. Chairperson Larry Parker presided with the following
4 Councilmembers in attendance: Howard "Jack" Elstro, Etta Lundy, Bruce Wissel, Sarah "Sally" Hutton, Alan
5 Stamper, Bing Welch and Geneva "Gene" Allen. Absent was Robert Dickman. The following business was had
6 to-wit:
7
8 APPROVAL OF MINUTES OF JANUARY 16,1996
9
10 Councilmember Hutton moved to approve the minutes of the previous meeting as prepared, seconded by
11 Councilmember Parker and on a unanimous voice vote the motion was carried.
12
13 APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS
14
15 Upon recommendation of the Finance Committee, Councilmember Stamper moved to approve the following bills
16 for payment,seconded by Councilmember Hutton and by unanimous voice vote the motion carried.
17
18 Bills Already Paid
19 Payroll and Deductions 461,160.14
20
21 Investments Purchased From:
22 Cash Operating Fund 2,750,000.00
23 Bond Sinking Fund
24 Utility Bond Reserve Fund
25 Depreciation Reserve Fund
26 Insurance Reserve Fund
111 27 Consumer Deposit Fund
28 Cash Reserve Fund
29 Group Insurance Fund
30
31 Total Investments 2,750,000.00
32
33
34 Transfer from Cash Operating Fund to:
35 Cash Reserve Fund
36
37 Transfer from Cash Operating Fund to:
38 Depreciation Reserve Fund
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
58 Interest and Bond Principal
59
60 End of Month Petty Cash
61 Revenue Bonds
62 Interest Coupons Redeemed
63 Bond Coupons
64 Miscellaneous Bills Already Paid 1,585,333.47
65 Total Prepaid Invoices 4,796,493.61
Less EFT/Direct Deposit of Payroll (88,697.34)
Total Prepaid Invoices 4,707,796.27
Total Bills Not Paid 835.158.00
Grand Total 5,542,954.27
RP&L Minutes Cont'd
February 5, 1996
Page 2
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1 REMARKS BY CHAIRPERSON
2
3 There were none.
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5 UNFINISHED BUSINESS
6
7 There was none.
8
9 STREET LIGHT COMMITTEE REPORT
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11 No report was given.
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13 MISCELLANEOUS BUSINESS
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15 There was none.
16
17 REPORT BY GENERAL MANAGER
18
19 Sitting in for General Manager Irving Huffman was Herschel Philpot,financial manager,who said he had no report
20 but invited questions. Councilmember Stamper asked about whether or not a meeting with Pete Wickman was still
21 in the works and Philpot answered that he expected that to be somewhere around mid-March or April. In answer
22 to a second question posed by Councilmember Stamper, Philpot said the candidates for the No.2 spot at RP&L
23 are set to be interviewed by Councilmembers Friday and Saturday.
24
25 NEW BUSINESS
26
27 There was none.
28
29 ADJOURNMENT
30
31 There being no further business, on a motion duly made,seconded and passed the meeting was
32 adjourned.
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38 Larry Parker, Chairperson
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42 ATTEST:
43 Norma Schroeder, City Clerk
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