PUAB approves Nov. 20 minutes, reviews IPL financials and capital projects

The Public Utilities Advisory Board voted to approve the minutes from its Nov. 20 meeting and reviewed year-to-date financial reports for Independence Power & Light (IPL), water and sanitary sewer operations.

Board members moved and seconded approval of the Nov. 20 minutes; roll-call responses recorded Brad Chance, Steve McCluckie and (Terry/Jerry) Martel as voting in favor, and the motion carried.

The board then heard a Power & Light update that showed $72,000,000 in year-to-date spending against a $157,000,000 amended budget. Staff reported total operating revenue contributing roughly 4.45% and a total operating expense line shown at 0.53 (as reported in the meeting packet). Capital projects for IPL were listed with an amended budget of $51,000,000 and $776,000 used so far this year.

Staff also summarized water department figures: $14,000,000 in year-to-date operating revenues and an operating-expense uptick to about 3.21%, driven in part by a large debt-service payment recorded in November (a 46.94% line item). Water capital projects carry a $32,000,000 amended budget with $3,500,000 used year to date. For sanitary sewer, staff reported an amended capital budget of $21,000,000 with just over $2,000,000 used year to date; some numeric phrasing in the record was unclear and is recorded in this report as 'not specified' where noted.

Finance manager Amy presented billing charts and said the November billing period was affected by estimated meter readings that are expected to true up when actual reads are processed. Staff emphasized that adjustments are made on the next actual read and that city council, not IPL staff, sets utility rates.

The board asked no further questions on the financial reports. The board scheduled its next meeting for Feb. 19 at 2:30 p.m.