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LUB Begins 2020 with Financial Report and Board Candidate

 

 

The Lamar Utility Board held its first meeting of 2020 and approved $707,237.61 in purchase orders from a total of $734,496.38 submitted for payment. Of that the ARPA power estimate for December was $647,508.04. Repairs for the gear box on wind turbine #4 were $17,110.22. Total payment of monthly bills amounted to $1,029,105.05. This included $31,548 for power pole replacement, $6,462.79 to insurance provider, CIRSA and $5,000 to Prowers Economic Prosperity.

Light Plant Superintendent Houssin Hourieh provided the November 2019 financial report showing that cash was up $203,813 from October and accounts receivable decreased by $136,327. Total operating revenues for the year are $12,993,697 and total operating costs are $11,522,225 resulting in gross operating income of $1,471,472. When the non-operating revenues and expenses are factored, there is a net loss of $584,274 year-to-date.

When compared to 2018, retail sales revenues are down approximately $1,561,326 or 11% comparing November 2019 to November 2018 and overall operating expenses are down approximately $13,382 or less than 1% resulting in a net loss of $584,274 for the year.

Hourieh told the board that 2020 plans for upgrading the Plant’s 69kv substation equipment continue with an upgrade for breaker 5-69kv, the paint protection point to the Plant’s line to Las Animas. An oil circuit breaker from the 1960s will be replaced as well. 800 new electric meters are planned for installation through the new year as well as a software upgrade on the SCADA monitoring equipment.

One application has been received for a new board member which will be forwarded to the Lamar City Council for approval.

By Russ Baldwin

Filed Under: City of LamarConsumer IssuesFeaturedUtilities

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