HomeMy Public PortalAbout8-06-1984 •
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, AUGUST 6, 1984
1 The Common Council of the City of Richmond, Indiana, serving as a Board in charge of
III2 the operation of the Richmond Power & Light Plant, met in regular session August 6,
3 1984, at the hour of 7:00 P.M. in the Municipal Building in said City. Chairman White-
4 sell presided with the following members in attendance: Councilpersons Elstro,
5 Williams, Brookbank, Hankinson, Parker, Bodiker, Lemoine-_and Morris. Absent: None.
6 The following business was had to-wit:
7
8 APPROVAL OF MINUTES OF JULY 16, 1984
9
10 Councilperson Hankinson moved to approve the minutes of the previous meeting as prepared,
11 seconded by Councilperson Brookbank and on unanimous voice.vote the motion was carried.
12
13 APPROVAL OF BILLS, TRANSFERS, INVESTMENTS AND BOND INTEREST
14
15 Councilperson Bodiker moved to approve the following bills already paid, transfers,
16 investments and bond interest and principal payments, seconded by Councilperson
17 Hankinson and on unanimous voice vote the motion was carried.
18
19 Bills already paid:
20 Payroll & deductions 7/13/84 146,261.53
21 Payroll & deductions 7/27/84 146,944.32
22 Total payroll 293,205.85
23
24 Transfers from Cash Operating Fund
25 Utility Bond Sinking Fund 69,688.55
III26 Depreciation Reserve Fund 91,000.00
27 Cash Reserve Fund 93,694.00
28 Total transfers 254,382.55
29
30 Transfer from Cash Reserve Fund to Bond Reserve 92,947.00
31
32 Investments Purchased
33 Depreciation Reserve Fund 1,146,569.25
34 Cash Operating Fund 1,169,632.93
35 Utility Bond Sinking Fund 69,688.55
36 Cash Reserve Fund 190,336.27
37 Consumer Deposit Fund 100,000.00
38 Total Investments 2,676,227.00
39
40 Bond Interest & Principal Payments 46,087.50
41
42 Miscellaneous Bills Already Paid 1,107,886.18
43
44 Total of Bills Paid 4,470,736.08
45
46 Councilperson Bodiker moved to approve bills for payment in the amount of 933,486.04,
47 seconded by Councilperson Hankinson and on unanimous voice vote the motion was carried: .
48
49 Grand total of all bills approved is 5,404,222.12
50
II51 REMARKS BY CHAIRMAN
52
53 Chairman Whitesell reminded the Board members that the next regularly scheduled meeting
54 would be prior to the Council meeting on August 20, 1984 and the next meeting at the
55 Service Building will be August 27, 1984 at 7:00 P.M.
56
57 Chairman:Whitesell asked General Manager Huffman whose responsibility it was to
58 maintain the parking area between the Fire Station and the RP&L Substation on Williams-
59 burg Pike. This area is an access route for fire trucks and needs some maintenance.
60 General Manager Huffman will investigate the situation.
61
62 REPORT BY GENERAL MANAGER
63
64 Mr. Huffman reported a rate decrease effective August 1, 1984 of 5.30 per 1000 KWH
65 of use for residential customers and 6.789 per KWH of use for large industrial customers.
RP&L Minutes Cont'd
August 6, 1984
Page 2
1 The decrease is due to the energy cost adjustment factor being lowered. Mr. Huffman stated
2 that no longer does the large industrial customer have to subsidize the residential
3 customer.
4
5 Mr. Huffman commented that they feel the energy cost adjustment factor is pretty well on
6 target and the volitility of the rate will be eventually dampened. This effects the
7 industrial customer more than the residential customer.
8
9 These rates will be effective August, September and October, 1984.
10.
11 In response to a question from Councilperson Lemoine, Mr. Huffman stated the industrial
12 customer is not subsidizing the residential customer in the energy cost adjustment factor
13 only. It is the intent of the Public Service Commission to have all rates cost justified
14 and that one does not subsidize the other.
15
16 ADJOURNMENT
17
18 There being no further business on a motion duly made, seconded and passed the meeting
19 was. adjourned.
20
21
22 Terry Whitesell
23 Chairman
24
25 ATTEST: Mary Merchanthouse
26 City Clerk
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