Lamar Utilities Board meeting of August 25, 2026

All Board members were present for the day’s meeting. Utilities Board Chairman Doug Thrall introduced the board’s new legal counsel, Craig Johnson.  Johnson, who is with the firm Ireland Stapleton, has over thirty years of experience in representing electric utilities.  He thanked the Board for their welcome and said he is pleased to be able to provide outside counsel to them in legal matters.

Next, minutes from the July 28, 2026, August 11, 2026, and August 14, 2026 meeting were approved.  Purchase orders 2025-06630 through 2025-06826 were approved, which totaled $42,013.45.  The largest purchase order was 2025-06700 for wooden poles to replace stock.  Bills totaling $1,080,234.88 were approved for payment.  Of this amount, $1,028,479.59 was to ARPA for power purchase.

The 1^st Quarter 2026 Financial Report was presented to the Board. The LUB Financial Statements for the first quarter of 2026 include the balance sheet, income statement, year to date income, and year to date monthly comparisons with 2025.

Balance Sheet – There are no significant changes to the balance sheet.  Cash is up $460,829 from December and accounts receivable decreased by $66,873.

Income Statement – The total operating revenue for the month of March is $982,169, with operating costs of $879,858 resulting in gross operating income of $102,311.  When the non-operating revenues and expenses are taken into consideration, there is a net income of $103,471 year to date.

YTD Income Statement – Total operating revenues for the year are $3,210,761 and total operating costs are $2,641,701 resulting in gross operating income of $569,060.  When the non-operating revenues and expenses are taken into consideration, there is a net income of $103,471 year to date.

YTD Comparison with Last Year – When compared to 2025, it is noted that revenues from retail sales are down approximately $255,417 or 7% comparing March 2026 to March 2025 and overall operating expenses are down approximately $6,325 or less than 1%, resulting in a net income of $103,471 for the year.

Superintendent Hourieh’s System Operating Report stated that on August 13^th and 14^th, the distribution system was impacted by severe weather.  A microburst near Bristol broke off five poles and damaged two 15kva polemount transformers on the south side of Bristol and damaged two poles at Co Rd JJ and 26.5.  The storm also damaged a power pole in the Kornman area.  The crew worked through the night hours replacing poles and restoring power to the affected areas.  In regard to the 2027 budget, he stated that the department has begun budget discussions per the attached LUB capital outlay.  They have completed the 4KV feeder protection relays upgrade and are moving forward with the 4kv switchgear breakers upgrade,  AMI metering systems upgrade, distribution system upgrade, substation maintenance and LTC tap changers upgrade, wind turbine maintenance and getting T-2 back online with the installation of the new Pitch Pro 2000 system as well as safety and training.

The Board then went into Executive Session before adjourning.

By: Barbara Crimond