HomeMy Public PortalAbout07-21-1986 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, JULY 21, 1986
1 The Common Council of the City of Richmond, Indiana, serving as a Board in charge
2 of the operation of the Richmond Power & Light Plant, met in regular session
3 July 21, 1986 at the hour of 7:00 P.M. in the Municipal Building in said City.
4 Chairman Elstro presided with the following Councilmember in attendance: Williams,
5 Brookbank, Hankinson, Whitesell, Parker, Bodiker, Hutton and Morris . Absent:
6 None. The following business was had to-wit:
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8 APPROVAL OF MINUTES OF JULY 7, 1986
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10 Councilmember Morris moved to approve the minutes of the previous meeting as
11 prepared, seconded by Councilmember Whitesell and on unanimous voice vote the
12 motion was carried.
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14 APPROVAL OF BILLS AND. INVESTMENTS
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16 Bills Already Paid
17 Payroll and deductions of 6/11/86 160,699.59
18
19 Investments from:
20 Depreciation Reserve Fund 158,763.37
21 Utility Bond Reserve Fund 33,590.00
22 Cash Operating Fund 1,730,000.00
23 Utility Bond Sinking Fund 248,455.34
24 Cash Reserve Fund 403,784.94
25 Total Investments 2,573,593.65
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27 Bonds and Coupons Redeemed 92 281.25
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III29 Miscellaneous Bills Already Paid 77,967.75
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31 Total Bills Already Paid 2,904,542.24
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33 Total Bills Not Paid 204,503.74
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35 Grand Total of Bills to be Approved 3,109,045.98
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37 Councilmember Parker reported that the Finance Committee had approved payment
38 as listed and so moved to approve bills already paid, investments made and bills
39 to be paid, seconded by Councilmember Brookbank and on unanimous voice vote the
40 motion was carried.
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42 STREET LIGHT COMMITTEE
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44 Councilmember Brookbank thanked General Manager Huffman for getting street lights
45 on South 17th Street repaired and Mr. Huffman indicated that they appreciated
46 having irregularities in the street lights reported in order to make repairs.
47
48 REPORT BY GENERAL MANAGER
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50 General Manager Huffman directed the attention of the Board to the monthly report
51 and indicated that with the completion of that report it gives a good six (6)
52 month overview. He reported that the number of residential KWH was slightly
III53 ahead on a year to date figure and the industrial was down on a year to date
54 total.
55 Mr. Huffman stated that the report shows no increase in dollars on sales and
56 the year to date cost for average residential users dropped 5 %. Mr. Huffman
57 added that the KWH cost for industrial customers was down 4.3% to 4 .1%.
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59 Mr. Huffman reported that operating expenses were down 450,000.00, the operating
60 revenues dropped 550,000.00 and the net operating income dropped 110,000.00.
61 Mr. Huffman stated that when you drop 550,000.00 in operating revenues and only
62 drop 110,000.00 in net operating income that it puts RP&L in a good position
63 this year.
64
65 Mr. Huffman informed the Council that they are now making more dollars on the
RP&L Minutes Cont'd
July 21, 1986
Page 2
1 sale of KWH rather than investments as they have in the past.
2
3 He stated that it has been a better year than projected when you give your
4 customers a 550,000.00 rate decrease.
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6 MISCELLANEOUS BUSINESS
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8 Chairman Elstro reminded the Board of the meeting on July 28, 1986 at 7:00 P.M.
9 at the RP&L Service Building.
10
11 ADJOURNMENT
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13 There being no further business, on a motion duly made, seconded and passed the
14 meeting was adjourned.
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18 Howard J. Elstro, Chairman
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21 ATTEST:
22 Mary Merchanthouse, City Clerk
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