HomeMy Public PortalAbout01-06-1986 •
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, JANUARY 6, 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, January
3 6, 1986 immediately following the election of officers for 1986. The meeting was
4 held in the Municipal Building in said City. Chairperson Elstro presided with the
5 following members present: Councilmembers Williams, Brookbank, Hankinson, Whitesell,
6 Parker, Bodiker, Lemoine and Morris. The following business was had to-wit:
7
8 APPROVAL OF MINUTES OF DECEMBER 16, 1985
9
10 Councilmember Whitesell moved to approve the minutes of the previous meeting as
11 prepared, seconded by Councilmember Bodiker and on unanimous voice vote the motion
12 was carried.
13
14 APPROVAL OF BTF T S, TRANSFERS AND INVESTMENTS
15 .
16 Councilmember Whitesell stated that the Finance Committee had reviewed the bills,
17 transfers and investments and recommended approval. as follows, seconded by;
18 Councilmember Brookbank and on unanimous voice vote the motion was carried.
19 - l ,_
20 Bills Already Paid:
21 Payroll and deductions of 12/13/85 and 12/27/85 324,301.42
22
23 Transfers from Cash Operating Fund to:
24 Utility Bbnd Sinking Fund 70,688.54
25 Depreciation Reserve Fund 91,000.00
26 Cash Reserve Fund 144,094.50
27 Total 305,783.04
28
III29 Investments Purchased from:
30 Cash Operating Fund 1,602,407.00 .
31 Cash Reserve Rind 830,841.04
32 Consumer Deposit Fund 200,000.00
33 Utility BOnd Sinking Fund 320,688.55
34 Depreciation Reserve Fund 1,740,820.00
35 Utility BOnd Reserve Fund 2,912.45 •
36 Total 4,697,669.04
37
38 Miscellaneous Bills Already Paid 1,071,014.31
39
40 Total Bills Already Paid 6,398,767.81
41
42 Councilmember Whitesell stated the Finance Committee had reviewed the unpaid bills
43 in the amount of 626,271.37 and recommended approval for payment. Councilmember
44 moved these bills be paid, seconded by Councilmember Brookbank and on unanimous
45 voice vote the motion was carried.
46
47 Grand total of all approved bills is 7,025,039.18. .
48
49 REMARKS BY CHAIRPERSON
50
51 Chairperson Elstro stated he would name his committees for 1986 at the next meeting.
52
53 UNFINISHED BUSINESS
III 54
•
55 RP&L Financial Review .
56
57 Councilmember Whitesell stated that the Board had reviewed several fines regarding
58 the financial review for RP&L and that a recap of findings in the firms had been
59 presented on November 25, 1985 by the Finance Committee. He stated that Arthur
60 Young & Company and HDR had made full presentations before the Board and now it
61 was appropriate for the Board to identify the firm for the 1986 Finance Committee
62 to direct regarding the financial review.
63
64 Councilmember Whitesell moved to select HDR for the Accounting Review as proposed
65 under the guidelines of the original motion and the direction of the 1986 Finance
•
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RP&L Minutes Cont'd
January 6, 1986
Page 2
1 Committee with ultimate full Board approval necessary. The motion was seconded
2 by Councilmener Lemoine.
3
4 Councilmember Williams asked if they should not wait until the State Board of Accounts
' 5 is through with their audit before putting another audit fine in to alleviate
6 problems with RP&L staff being tied to too many audits.
7
8 Councilmember Lemoine stated the two (2) audits were not related and would not interfere
9 with each other.
10
11 Councilmember Bodiker stated he saw no problem with selecting a firm now.
12
13 Councilmember Hankinson stated he agreed with hiring a finn now, but felt they should
14 check on the timing of activities.
15
16 Chairperson Elstro stated that he thought the Gimble audit had to be complete for
17 the financial review to begin and Councilmember Whitesell said that was not a
18 necessity and the Board is bound by the original motion to set the review in place
19 and after the 1986 Finance Committee is in place they are empowered to determine
20 other items not included in the original motion and implement the timing of the
21 review.
22
23 On a call of the roll the motion to select HDR as the firm for the Financial Review
24 Was adopted.
25
26 Ayes: Williams, Brookbank, Hankinson, Whitesell, Parker, Bodiker, Lemoine, Morris
27 and Elstro (9)
28 Nays: None
29
30 RP&L Lobby
31
32 Councilmember Brookbank commented on the budget information furnished on the lobby
33 renovation project and the fact that it was over budget. She indicated the Board
34 should have better budgetary control of expenses in order not to allow costs of
35 budgetted items to double or triple in cost.
36
37 General Manager Huffman stated that the report had included the entire renovations
38 efforts and that some costs were in the 1984 budget and sane were in the 1985 budget.
39
40 Chairperson Elstro stated that more discussion would be held on the lobby renovation
41 at the meeting of the Executive Board.
42
43 STREET LIGHT C]T EE
44
45 Chairperson Elstro said that plans for three (3) lights at Hill Floral and one (1)
46 light on S.W. 19th Street were being completed.
47
48 REPORT BY GENERAL MANAGER
49
50 Mr. Huffman informed the Board that RP&L had paid to the City 1,585,570.00 in lieu
51 of taxes for 1985. He stated this was 461,241.00 increase over last year. He also
52 reminded the Board that RP&L gave 137,500.00 to the Economic Development DepaiLuent.
53
54 ADJOURNMENT
55
56 There being no further business on a motion duly made, seconded and passed the
57 meeting was adjourned.
58
59
60 Howard J. Elstro, Chairperson
61
62 ATTEST:
63 Mary Merchanthouse, City Clerk •
64
65