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Port Authority hears preliminary January financials; approves accounts payable register
Summary
Finance staff presented preliminary January 2025 financials showing a small monthly loss and flagged a large CenterPoint electric bill; the board approved the accounts payable voucher register including a $9,481.83 electric invoice.
Port Authority of Evansville finance staff presented preliminary January 2025 financial statements at the Feb. 3 meeting and the board approved the accounts payable voucher register covering invoices through Jan. 30, 2025.
Robert Gunter, who presented the financial report, described the January statements as preliminary because some bank and investment statements were not yet posted. He reported a small loss for the month of $9,288.07 and said the authority ended January with $55,003.45 in cash and about $75,008.03 in investments. Gunter also identified a large electric invoice from Southern Indiana Gas and Electric Company (presently known as CenterPoint) for $9,481.83 covering the billing period through Jan. 6, 2025.
Board member Jack Buttrum raised a concern that the electric service bill was about 50% higher than the same period last year, calling it "excessive." Gunter and others explained that winter months and demand charges can drive higher bills. Gunter said he would pull January 2024 and 2025 bills to show consumption comparisons and noted that the Indiana Utility Regulatory Commission (IURC) was issuing a ruling the same day that could affect rates.
The accounts payable voucher register was read into the record and approved by motion and voice vote. Items listed in the register included: a City of Evansville postage invoice for $1.27 (invoice date 12/31/24), an Evansville Waterworks invoice for the building at 610 NW Riverside Drive covering Dec. 4, 2024 through Jan. 7, 2025 (invoice amount listed as 14283 in the register), and CenterPoint/Southern Indiana Gas and Electric invoices of $285.80 (invoice date 12/27/2024) and $9,481.83 (invoice date 01/06/2025).
Board members asked staff for copies of the utility agreement referenced in the meeting that spells out the authority's responsibilities—utilities, property and casualty insurance and other facility expenses—and staff agreed to provide copies.
No additional budget actions were taken at the meeting; staff said they will update financial statements when bank and investment statements are received.
