Arkansas River Power Authority Business Operations – June 2021

ARPA Board Holds its Annual Election of Officers:

The ARPA Board of Directors held officer elections at its meeting on April 29. Board Members elected to serve as officers through April 2022 include Lorenz Sutherland (La Junta), President; Calvin Melcher (Holly), Vice President; Gary Cranson (La Junta), Treasurer; and ARPA staff member, Arvenia Morris, Secretary. Lorenz Sutherland has been on the ARPA Board of Directors since October 2014. He previously served as Vice President beginning in January 2020. Calvin Melcher was appointed to the Board in February 2019. Calvin also serves as Mayor for the Town of Holly. Gary Cranson has been on the ARPA Board since February 2017 and was first elected Treasurer of the Board in May 2019. Gary is a member of the La Junta Utilities Board.

ARPA Scholarship Program:

In 2000 ARPA established a College Scholarship Program that awards a $1,000 scholarship to one high school senior in each of the high schools served by ARPA members. The Program is administered through the member municipalities of Holly, La Junta, Lamar, Las Animas, Springfield and Trinidad. The scholarships are funded equally between ARPA and its members. Congratulations to the following individuals on receiving the scholarship for the 2021-2022 school year: Holly: Vivianna Garcia; Lamar: Brailee Crum; McClave (Lamar): McKenzie Kiniston; La Junta: Zeke Rangel; Trinidad: Caitlin Gabrielson; Springfield: Payton Arbuthnot and Las Animas: Kacey Miller. Good luck in your future endeavors!

Summary of April 2021 Financial and Operating Statements:

During the month of April, revenue from power sales were less than budget by 2.2% and total cost of goods sold were under budget by 2.7%. Net Revenues from Operation for the month were $325,622. Year to Date revenues from power sales are just under budget by 1.1% and cost of goods sold are 1.4% under budget. Net revenues from Operation YTD are $1,305,982. Member Energy sales for April were 1.6% less than budget. Member Sales YTD are just under budget and approximately 0.8% less than 2020. Wind generation was 11% of the power supply resources for April.

ARPA Board Receives Financial Compliance Report:

Aarin Ritter, Finance Manager for ARPA provided the annual Financial Compliance Report to the ARPA Board at its April meeting. Ms. Ritter reported that the Authority is in full compliance with its Bond Covenants including fully funding its Bond Accounts, meeting its Debt Service Coverage Ratio, and the posting of its ongoing financial disclosures, including the quarterly financial reports, on the Municipal Securities Rulemaking Board website- EMMA.  ARPA’s financial disclosures can be found at https://dataport.emma.msrb.org.

Update on the Dismantling of the LRP:

Mobilization and demolition of the Lamar Repowering Project commenced early in February 2021. The last structure to come down was the boiler and it was felled on Monday, June 7. Demolition and removal of the boiler structure and final cleanup is expected to be complete by late June.