Minutes 09/17/1959 - Laserfiche WebLink

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.. 4 THURSDAY SEPTEMBER 17, 1959 It is felt this report is complete and accurate in all respects and to the extent information may be available. If the Council should want further or supplementary information or data such will be promptly provided. If t.l-J.e Council, further, would feel it advantageous that independent auditors or consultants experienced in the electric utility field should be called upon for study purposes, then complete administrative cooperation will be offered those as may be employed. .,,- Because of the nature and cause of this report is is obviously necessary to draw and city comparisons between the city utility and the Appalachian Power Company. These comparisons relate to such items as rates, policies, the purchase proposal, taxes, service and others. These comparisons are brought in simply as matters of fact and of necessity in accomplishing a complete review of the questions possibly before Council. It is to be emphasized that the relationship betvwen the Appalachian Power Company and the government of the City of Martinsville is excellent, with- out exception. The cooperation between the two utilities and their individual personnel has been and is, in every respect, of the highest. The City utility has benefited from assistance by Appalachian in many respects over and beyond what would be normally expected of the Company. The City in turn has attpmpted in dealing with the Compan;,{ to reflect that spirit. It would be of deep and lasting regret if the invitation to bid, the purchase proposal, or the aftermath of study and consideration were to in any way cause, novl" or in the future, a variance in the relationship between the Appalac.rlian and the City. This report has, where possible, been divided into sections. Narrative pages are consecutively numbered and charts, exhibits and schedules are identified as schedules and consecutively lettered. \'rnere summary financial totals in a particular section are later used and referred to in the smnmary, these totals are underlined in red in the particular section for easy reference. SUMMARY Based on the preceding material in this report and on such other conditions as might be pertinent, the following sunmarization if offered. In drawinr; a monetary analysis, note must be taken of the period of fiscal time from which the data as used in this report is derived as in one manner or another, or to one degree or another, certain fiscal situations may vary as time progresses. A. Effect on total remaining city budget if electric Reduction of electric direct appropriation to Gemral Fund Increased cost of street lighting Increased cost of electric service t( t,raffic control signals Increased cost to water and sewer for billing and acc ount colle ction plus addi tional p3rs onnel cost to General Fund bu~;et utilitywere removed. $ 272,289.97 12,673.34 1,899.36 12,985.00