HomeMy Public PortalAbout11-06-1995 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RICHMOND.INDIANA.SERVING AS ABOARD
IN CHARGE OF THE OPERATION OF THE RICHMOND POWER& UGHT PLANT
MONDAY.NOVEMBER 6.1995
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 6, 1995, in the Council
3 Chambers in the Municipal Building in said City. Chairperson Howard "Jack" Elstro presided with the following
4 Councilmembers in attendance:Gene Allen,Jane Brookbank, Bob Dickman, Mary Ellen Donat, Etta Lundy, Don
5 McBride, Larry Parker and Sarah"Sally" Hutton. The following business was had to-wit:
6
7 APPROVAL OF MINUTES OF OCTOBER 16. 1995
8
9 Councilmember Mc Bride moved to approve the minutes of the previous meeting as prepared, seconded by
10 Councilmember Hutton and on a unanimous voice vote the motion was carried.
11
12 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
13
14 Upon recommendation of the Finance Committee,Councilmember Donat moved to approve the following bills for
15 payment,seconded by Councilmember Hutton and by unanimous voice vote the motion carried.
16
17 Bills Already Paid
18 Payroll and Deductions 223,147.25
19
20 Investments.Purchased Front:
21 Cash Operating Fund 2,150,000.00
22 Bond Sinking Fund
23 Utilay Bond Reserve Fund
24 Depreciation Reserve Fund 91,000.00
25 Insurance Reserve Fund
26 Consumer Deposit Fund
27 28
Cash Reserve Fund 164,730.00
Group Insurance Fund
29
30 Total Investments 2,405,730.00 .
31
32
33 Transfer from Cash Operating Fund to;
34 Cash Reserve Fund for payment
35 to City in lieu of taxes
36
37 Transfer from Cash Operating Fund to;
38 Depreciation Reserve Fund
39 for Property&Plant
40
41 Transfers from Depreciation Reserve to:
42 Cash Operating Fund
43
44 Transfers from Consumer Deposit to:
45 Cash Operating Fund
46
47 Transfers from Utility Bond Reserve Fund to:
48 Bond Sinking Fund
49
50 Transfers from Cash Operating to:
51 Interest and Bond Principal
52 Bond Sinking Fund
53 Cash Reserve Fund
54 Utility Bond Sinking Fund
55 56
Depreciation Reserve Fund
Insurance Reserve Fund
57 Consumer Deposit Fund
58
59 Interest and Bond Principal
60
61 End of Month Petty Cash
62 Revenue Bonds
63 Interest Coupons Redeemed
64 Bond Coupons
65 Miscellaneous Bills Already Paid 1,849,845.20
Less EFT/Direct Deposit of Payroll (41,370.49)
Total prepaid invoices 4,693,081.96
Total Bills Not Paid 865.044.25
Grand Total 5,558,126.21
RP&LMinutes Cont'd
November6,1995
1 REMARKS BY CHAIRPERSON
2
3 Chairperson Elstro had no remarks.
4
5 UNFINISHED BUSINESS
6
7 There was none.
8
9 STREET LIGHT COMMITTEE REPORT
10
11 No report was given.
12
13 MISCELLANEOUS BUSINESS
14
15 There was none.
16
17 REPORT BY GENERAL MANAGE
18
19 General Manager Irving Huffman opened the only bid received for the Coal Turn Around Area, asking for a motion
20 to accept the proof of publication of the legal ad October 19 and October 26 in the Palladium-Item.
21 Councilmember McBride so moved,second by Councilmember Hutton and the motion was carried on a
22 unanimous voice vote.The base bid from Oberle&Associates of Richmond was for$54,900 with a voluntary
23 alternate handrail for$3,700.Councilmember McBride moved to turn the bid over to Huffman for evaluation,
24 tabulation and recommendation,second by Councilmember Hutton and the motion was carried on a unanimous
25 voice vote.
26
27 Huffman asked for the Board's approval to accept bids for an emergency backup generator. Councilmember
28 Parker so moved,second by Councilmember McBride and the motion was carried on a unanimous voice vote. In
29 answer to a question by Councilmember Dickman on the time line,Huffman said he hoped to receive the"-bids by.
30 the next meeting on November 20 and award the bid at the December 4 meeting.
31
32 An overview of the third quarter report for RP&L was given by Huffman who stated that Herschel Philpot,
33 financial manager,will be preparing an in depth report at a later date. Huffman pointed out that all reports to date
34 have been excellent. He said the revenue is up from $32,179,000 to$33 million and there are other revenues
35 realized from interest rates.He said that has allowed RP&L to remain on a net income almost identical to last
36 year and from a net operating income the utility is down about$300,000. He added that the money in reserve is
37 helping bring,in additional revenue which helps the ratepayer situation. Huffman said the residential rate had
38 dropped from 5.983 cents to 5.69 cents and the rate had also dropped slightly for the commercial customer.The
39 large industrial customer, he said,had dropped from 5.128 cents down to 5.043 cents, noting that the overall
40 picture is that RP&L rate has gone down on the average for all customers.
41
42 Huffman said last year the cost per revenue dollar was 13.31 cents which went for labor.This year, he said, it was
43 12.96 cents so the labor costs are decreasing.Commenting on the payroll this year,whcih includes Council,as
44 compared with last year, it has dropped from$4,284,266.71 to$4,280,857.41. Part of Philpot's presentation
45 Huffman said will involve comparison of RP&L with any utility in the area.
46
47 NEW BUSINESS
48
49 ADJOURNMENT
50 •
51 There being no further business,on a motion duly made,seconded and passed the meeting was
52 adjourned.
53
54
55 •
56
57
58. Howard"Jack"Elstro, Chairperson
59
60
61
62 •
63 ATTEST:
64 Norma Carnes,City Clerk
65