Lamar Utilities Board meeting of November 26, 2024

Board Chairman Doug Thrall was absent for the meeting of November 26, so Agenda item #1 (reorganization of board to elect Chairman, Vice-Chairman, Superintendent and Attorney) was tabled for the second time, as all board members need to be present for the vote.  Minutes from the November 12 meeting were approved unanimously.  Purchase orders totaling $164,708.77 were also approved.  Bills totaled $186,725.74 and were approved for payment.

The October Financial Report was presented.  There were no significant changes to the balance sheet.  Cash is up $257,502 from September and accounts receivable decreased by $561,076.   The total operating revenue for the month is $1,163,268 with operating costs of $1,047,959, resulting in gross operating income of $115,309.  When the non-operating revenues and expenses are taken into consideration, there is a net loss for the month of $50,592.  The year-to-date income statement shows that total operating revenues for the year are $13,202,759 and total operating costs are $11,507,285 resulting in gross operating income of $1,695,474.  When the non-operating revenues and expenses are taken into consideration there is a net income of $104,909 year to date.  Compared to last year, revenues from retail sales are up approximately $880,839 or 7% comparing October 2024 to October 2023 and overall operating expenses are up approximately $962,587 or 9%, resulting in a net income of $104,909 for the year.

The superintendent’s System Operating Report shows that through the end of October, Lamar’s two wind turbines have generated 7,217.70 megawatt hours of electricity.  This is about 11.14% higher than the same period last year.  The turbines have an average capacity factor of 39.67% which is higher than last year by about 13.37%.  When compared individually, T-1 ranked first, followed by T-3.  T-4, ARPA’s turbine, generated 3,443.25 megawatt hours.  The Springfield turbine generated 4,558.36 megawatt hours of electricity through the same period with an average capacity factor of 41.54%.  Our wind turbine crew has completed the annual maintenance program on all 4 turbines per GE’s guidelines.  The line crew replaced a 40-foot wooden pole with a class II ductile iron pole – the wooden pole was hit by a semi-truck on the evening of November 12 at Main and Lee Avenue.  The crew has recently completed the installation of Christmas lights along Main St. and East Olive Street.

The board then adjourned for an Executive Session to receive legal advice regarding contract negotiations with North Renew Energy.  The next meeting will be Tuesday, December 10, 2024 at noon.

By Barbara Crimond