LUB Reviews Current Finances

The Lamar Utility Board’s final October meeting was brief this past Tuesday, October 29^th it was also the final meeting for Roger Stagner, who as Mayor of Lamar, acted as the LUB liaison for the city council. As he will no longer be mayor after November 11^th, the council has the option of appointing the new mayor or another individual to attend the LUB meetings on the second and fourth Tuesday of each month. The board still has one other opening to be filled and applicants can contact the LUB for information regarding a form.

The September financial statements, read by Lamar Light Plant Superintendent, Houssin Hourieh, showed that cash is up $132,938 from August and accounts receivable decreased by $132,366. Total operating revenue for the month is $1,508,419 with operating costs at $1,181,786 for gross operating income of $326,632. When the non-operating revenues and expenses are considered, there is a net loss of $21,522 for the month.

Total operating revenues for the year are $10,704,861 and total operating costs are $9,656,971 resulting in gross operating income of $1,047,890. When the non-operating revenues and expenses are considered, there is a net loss of $602,796 year to date.

When compared to 2018, revenues from retail sales are down approximately $1,461,687 or 12% comparing September 2019 to September 2018 and overall operating expenses are down approximately $82,287 or 1% resulting in a net loss of $602,796 for the year. Hourieh noted the income decline was attributed to lack of irrigation this past May and a cooler than usual June.

Purchase orders were $55,631.93 for the month and the board approved $45,144.58. Payment of bills amounted to $1,076,781.40.

Through the end of September, the wind turbines have generated 7,381.20 MWH’s of electricity which is about 13.90% lower than the same period last year. The turbines have an average capacity factor of 26.35% which is also lower than last year by about 1.54%. When compared individually, T-2 ranked first, followed by T-3. The Springfield turbine generated 3,729.72MWH’s through the same period with an average capacity factor of 38.11%. Annual maintenance is now underway for all of the wind turbines and two blades were repaired on the ARPA turbine in Springfield. One blade was struck by lightning or hail and the other blade was split on its tip.

By Russ Baldwin