HomeMy Public PortalAbout11-02-1992 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 2.199Z
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 2, 1992 in the Municipal
3 Building in said City. Chairperson Hutton presided with the following Councilmembers in attendance: Lundy,
4 Brookbank, Donat, McBride, Parker, Allen, Dickman and Elstro. The following business was had to-wit:
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6 APPROVAL OF MINUTES OF OCTOBER 19.1992
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8 Councilmember Brookbank moved to approve the minutes of the previous meeting as prepared, seconded. by
9 Councilmember Lundy and on unanimous voice vote the motion was carried.
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11 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
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13 Upon recommendation of the Finance Committee, Councilmember Brookbank moved to approve the following
14 bills for payment,seconded by Councilmember Parker and by unanimous voice vote the motion carried.
15
16 sills Already Paid
17 Payroll and Deductions 216,654.97
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20 Investments Purchased From:
21 Cash Operating Fund 2,800,000.00
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 •
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33 Transfer to City in Lieu of Taxes:
34
35 Transfer from Cash Operating Fund to;
36 Payroll Deduction Fund
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39 Transfers from Depreciation Reserve to:
40 Cash Operating Fund
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42 Transfers from Consumer Deposit to:
43 Cash Operating Fund
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45 Transfers from Utility Bond Reserve Fund to:
46 Bond Sinking Fund
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48 Transfers from Cash Operating
49 Interest and Bond Principal
50 Bond Sinking Fund
51 Cash Reserve Fund
52 Utility Bond Sinking Fund
53 Depreciation Reserve Fund
54 Insurance Reserve Fund
55 Consumer Deposit Fund
56
57 Interest and Bond Principal
58
59 End of Month Petty Cash
60 Revenue Bonds
61 Interest Coupons Redeemed
62 Bond Coupons
63 Miscellaneous Bills Already Paid 1,185,244.97
64 Total prepaid invoices 4,201,899.94
65 Total Bills Not Paid 676,015.56
Graad Total 4,877,915.50
RP&L Minutes Cont'd
November 2, 1992
Page 2
1 REMARKS BY CHAIRPERSON
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3 None were made.
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5 UNFINISHED BUSINESS
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7 None.
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9 STREET LIGHT COMMITTEE REPORT
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11 No report was presented.
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13 REPORT BY GENERAL MANAGER
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15 General Manager Irving Huffman reported that with the most recent energy package passed by Congress there is
16 a provision that any utility having sales of more than 500 million kilowatt hours per year must have a conservation
17 program or a rate management program. He said this is right in line with the discussion of RP&L going into the
18 cable TV business.Giving an example of the savings to be realized,Huffman said IMPA's demand for the local
19 facility's system is$12.60 per k/w and RP&L's peak is 130,000 demand. If RP&L would just shave 5,000 k/w
20 that would total out at$63,000 per month savings, representing$756,000 per year.What will happen when RP&
21 L gets the system installed,Huffman said, is that the facility will be required to file some kind of cost of service
22 study and pass on some of those savings and benefits to cutomers. In turn,RP&L would be able to recoup some
23 of its investment if it works with the whole communications system. He added that it depends on how
24 sophisticated RP&L wants to get with the system.
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26 ADJOURNMENT
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28 There being no further business,on a motion duly made,seconded and passed the meeting was
29 adjourned.
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33 Sally Hutton,Chairperson
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37 ATTEST:
38 Norma Games,City Clerk
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