IN MINUTES: Glasgow Electric Plant Board

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July 28, 2010

By LISA SIMPSON STRANGE Glasgow Daily Times The Glasgow Daily Times Wed Jul 28, 2010, 11:11 AM CDT

GLASGOW — DATE: Tuesday, July 27, 2010

ACTIONS: EPB board members took the following actions: Approved the minutes of the June 22 regular meeting; approved the ratification of a Front Street Substation Panel purchase; and approved a SKF transformer PCB disposal proposal.

PRESENTATION: Ernie Peterson with the Tennessee Valley Authority presented a program to the board on key TVA initiatives for the future.

REPORTS: Superintendent Billy Ray gave the operating and financial reports for the month of June 2010 and the end of the fiscal year. Net income for electrical service for June was $274,815 and for the fiscal year was $764,561; cable TV, $36,893 for June and ($3,755) for FY; LAN, $25,427 for June and $182,077 for FY; JM Young Technology Center, $1,600 for June and $8,960 for FY; telephone, ($14,101) for June and ($46,463) for fiscal year; total EPB net income, $324,634 for June and $905,381 for FY. For the June cash summary, Ray reported a beginning balance for all funds of $6.5 million and an ending balance of $5.4 million. Write-offs for the fiscal year were $15,493 or 0.51 percent of income. He announced TVA’s wholesale Fuel Cost Adjustment for August will increase from 0.40 cents to 0.51 cents, or 1.5 percent. Ray told board members four bids for the Front Street Substation relay panels were opened and the low bid from Keystone Electrical Manufacturing for $24,098 was accepted. The other bids were Birmingham Controls, $24,250; KVA Inc., $27,801; and SEL Engineering, $24,560. He said a proposal from TCI of Alabama LLC for $33,030 to remove a transformer at SKF containing polychlorinated biphenyls (PCBs), a toxic organic pollutant, was accepted and the removal was under way. Ray gave bond sale results that were completed in July. Hilliard Lyons and Ross Sinclaire & Associates both bid on the bond issue. The best bid from Ross Sinclaire at 3.6 percent was accepted. Hillard Lyons bid at 3.9 percent. Ray said the programming committee did not meet, but action was taken to renew the contract with the Game Show Network.

ANNOUNCEMENTS: The next regular board meeting will be Aug. 24 at 6 p.m.

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