01-15-2013 HUCMMINUTES
Special Meeting — Hutchinson Utilities Commission
Tuesday, January 15, 2013
Called to order at 12:00 p.m.
Members present: President Dwight Bordson; Vice President Craig Lenz; Secretary
Leon Johnson; Commissioner Monty Morrow; Commissioner Anthony Hanson; General
Manager Michael Kumm.
Members Absent: Attorney Marc Sebora
Guests: Jeremy Carter (City), Mayor Steve Cook, and Council Member Chad
Czmowski.
President Bordson explained this PILOT presentation meeting is for discussion
purposes only. PILOT (Payment in Lieu of Taxes) is an acronym which means portions
of funds Hutchinson Utilities Commission transfers to the City of Hutchinson.
GM Kumm presented a recap of the problems in natural gas utility with the existing
2.75% PILOT. GM Kumm recommended alternatives to the existing PILOT formula for
the natural gas utility. (Presentation attached.)
After discussion, President Bordson thanked GM Kumm for the presentation.
A motion was made by Secretary Johnson, seconded by Commissioner Hanson to
adjourn the meeting at 12:47 p.m. Motion was unanimously carried.
ATTEST:
Dwight Bordson, President
Leon Johnson, Secretary
MINUTES
Special Meeting — Hutchinson Utilities Commission
Tuesday, January 15, 2013
Called to order at 12:00 p.m.
Members present: President Dwight Bordson; Vice President Craig Lenz; Secretary
Leon Johnson; Commissioner Monty Morrow; Commissioner Anthony Hanson; General
Manager Michael Kumm.
Members Absent: Attorney Marc Sebora
Guests: Jeremy Carter (City), Mayor Steve Cook, and Council Member Chad
Czmowski.
President Bordson explained this PILOT presentation meeting is for discussion
purposes only. PILOT (Payment in Lieu of Taxes) is an acronym which means portions
of funds Hutchinson Utilities Commission transfers to the City of Hutchinson.
GM Kumm presented a recap of the problems in natural gas utility with the existing
2.75% PILOT. GM Kumm recommended alternatives to the existing PILOT formula for
the natural gas utility. (Presentation attached.)
After discussion, President Bordson thanked GM Kumm for the presentation.
A motion was made by Secretary Johnson, seconded by Commissioner Hanson to
adjourn the meeting at 12:47 p.m. Motion was unanimously carried.
eon Johnson, Secretary
ATTEST:
P(vight Bordson, President
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NATURAL GAS INCOME & EXPENSE SUMMARY
OPERATING REVENUES
2013
2014
2015
2016
2017
Sales - Naturel Gas - Retail
8,381,803.07
8,490,262.14
8,603,887.73
8,754,102.10
8,750,000.00 Approximate 1% growth rate for retail sales
Contract Sale to Large Cuslomer(Includes 3M 8 HTI transport)
4,085,086.37
4,085,086.37
4,861,415.37
6,504,073.37
6,550,000.00 N. Gas Prices $4 /MCF In 2013 and 2014, $5 /MCF in 2015, $7 /MCF in 2016 and 2017
New Ulm Transportation
700,000.00
700,000.00
700,000.00
700,000.00
700,000.00
T rtation- Electric Division
1,100,000.00
1,100,000.00
1,100,000.00
1,100,000.00
1,100,000.00
TOTAL OPERATING REVENUES
14,266,889.44
14,375,348.51
15,265,303.10
17,058,175.47
17,100,000.00
OPERATING EXPENSES
Purchased Gas for Retail (807)
4,329,291.74
4,348,768.80
4,850,000.00
5,400,000.00
5,400,000.00 Many long term N. Gas contracts purchased in 2013/14, for 2015/16/17.
Contract Gas for Large Customer
3,285,316.00
3,2851316.00
4,061,41537
5,704,07100
5,750,000.00 N. Gas Prices $4 /MCF in 2013 and 2014, $5 /MCF in 2015, $7 /MCF in 21
Total Gas Purchased
7,614,607.74
7,634,084.80
8,911,415.37
11,104,073.00
11,150,000.00
Transmission (858, 863)
Gas Transmission Operations (856)
105,500.00
108,665.00
111,924.95
115,282.70
118,741.18
Gas Transmission Maintenance (863)
11,000.00
11,330.00
11,669.90
12,020.00
12,380.60 year over year 3% increase
Total Transmission (805, 863)
116,500.00
119,995.00
123,594.85
127,302.70
131,121.78
Distribution Expense:
Distribution Operation (870, 874, 878, 880):
Supervision and Engineering (870)
146,500.00
150,895.00
155,421.85
160,084.51
164,887.04
Mains and Services (874)
93,000.00
95,790.00
98,663.70
101,623.61
104,672.32 Year over year 3% increase
Meters (878)
3,500.00
3,605.00
3,713.15
3,824.54
3,939.28
Misc. (880)
174,600.00
179,838.00
185,233.14
190,790.13
196,513.84
Total Distribution Operation (870, 874, 878, 880)
417,600.00
430,128.00
443,031.84
456,322.80
470,012.48
Distribution Maintenance (892, 893, 895)
Lines - Services and Mains (892)
110,500.00
113,815.00
117,229.45
120,746.33
124,368.72
Meters and House Regulators (893)
15,000.00
15,450.00
15,913.50
16,390.91
16,882.63 Year over year 3% increase
Maintenance of Other Plant (895)
58,500.00
60,255.00
62,062.65
63,924.53
65,842.27
Total Distribution Maintenance (892, 893, 895)
184,000.00
189,520.00
195,205.60
201,061.77
207,093.62
Customer Service and Collection(902, 903, 904, 906)
Meter Reading (902)
13,950.00
14,368.50
14,799.56
15,243.54
15,700.85
Collection Expense (903)
100,080.00
103,082.40
106,174.87
109,360.12
112,640.92 Year over year 3% increase
Bad Debt Write offs (904)
4,500.00
4,635.00
4,774.05
4,917.27
5,064.79
Customer Services (906)
38,250.00
39,397.50
40,579.43
41,796.81
43,050.71
Total Customer Service and Collection (902, 903, 904, 906)
156,780.00
161,483.40
166,327.90
171,317.74
176,457.27
Sales Expense (911, 916)
Supervison(911)
2,080.00
2,142.40
2,206.67
2,272.87
2,341.06
Misc. Selling Expense (916)
66,920.00
68,927.60
70,995.43
73,125.29
75,319.05 Year over year 3% increase
Total Sales Expense (911,916)
69,000.00
71,070.00
73,202.10
75,398.16
77,660.11
Administrative and General (920, 921, 923, 924, 926, 928, 930, 935)
Adminstrative and General Labor (920)
160,000.00
164,800.00
169,744.00
174,836.32
180,081.41
Office Supplies and Expenses (921)
80,875.00
83,301.25
85,800.29
88,374.30
91,025.53 Year over year 3% increase
Outside Services (923)
36,343.75
37,434.06
38,557.08
39,713.80
40,905.21
Property Insurance (924)
95,850.00
98,725.50
101,687.27
104,737.88
107,880.02
E ansion 8 Benefits (926)
391,376.25
403,117.54
415,211.06
427,667.40
440,497.42
R =xpense (928)
26,100.00
26,883.00
27,689.49
28,520.17
29,375.78
Mi ral Expense (930)
87,525.00
90,150.75
92,855.27
95,640.93
98,510.16
Mainl. Of General Plant (935)
38,520.00
39,675.60
40,865.87
42,091.84
43,354.60
Total Administrative and General (920, 921, 923, 924, 926, 928, 930, 935)
916,590.00
944,087.70
972,410.33
1,001,582.64
1,031,630.12
Depreciation Expense (403)
1,056,000.00
1,075,000.00
1,090,000.00
1,105,000.00
1,125,000.00
Payment in Lieu of T.... (408)
515,013.60
493,824.01
471,299.62
477,488.34
483,806.98
1,571,013.60
1,568,824.01
1,561,299.62
1,582,488.34
1,608,806.98
TOTAL OPERATING EXPENSE
11,046,091.34
11,119,192.91
12,446,487.61
14,719,547.14
14,852,782.35
OPERATING INCOME
3,220,798.10
3,256,155.60
2,818,815.49
2,338,628.34
2,247,217.65
OTHER INCOME AND DEDUCTIONS
Other Misc. Income
Other - Net
40,000.00
40,000.00
40,000.00
40,000.00
40,000.00
Interest Income
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
Misc. Income
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
Misc. Expense
(61000.00)
(6,000.00)
(6,000.00)
(6,000.00)
(6,000.00)
Interest Expense
(1,348,680.63)
(867,500.00)
(825,500.00)
(781,500.00)
(735,100.00) Bond Refinancing
TOTAL OTHER INCOME AND DEDUCTIONS
(1,288,680.63)
(807,500.00)
(765,500.00)
(721,500.00)
(675,100.00)
NET INCOME
1,932,117.47
2,448,655.60
2,053,315.49
11617112834
1,572,117.65
Based on 5% Retail Revenue
ELECTRIC INCOME & EXPENSE SUMMARY
2013
2014
2015
2016
2017
OPERATING REVENUES
Sales - Electric Energy (440, 442, 444)
26,286,422.30
26,549,286.52
26,814,779.39
27,082,927.18
27,353,756.45 1% Growth Rate in retail sales
Sales For Resale (447)
1,512,000.00
1,490,000.00
1,680,000.00
2,016,000.00
2,016,000.00 No Energy Wholesale increase for 2014, 20% Increase in 2015 over 2015, 20% increase in
Street Lighting (444)
142,666.32
148,777.00
151,752.00
154,78840
157,800.00 2016 over 2015, no increase in 2017, Wholesale Energy increases due to increaseing N. Gas
Total Energy Sales
27,941,088.62
28,188,063.52
28,646,531.39
29,153,715.18
29,527,556.45 prices
Assume No Capacity Sales for 2015, 2016, 2017
OTHER OPERATING REVENUES
Net Income From Other Sources (450,451)
220,000.00
220,000.00
220,000.00
220,000.00
220,000.00
Security Lights (454.01)
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
Pole Rental (454.02, 454.03)
500.00
500.00
500.00
500.00
500.00
Total Other Operating Revenues
230,500.00
230,500.00
230,500.00
230,500.00
230,500.00
TOTAL OPERATING REVENUE
28,171,588.62
28,418,563.52
28,877,031.39
29,484,215.18
29,758,056.45
OPERATING EXPENSES
Production Operation (546, 547, 550)
Operation Supervison & Engineering (546)
1,140,600.00
1,174,818.00
1,210,062.54
1,246,364.42
1,283,755.35
Fuel (547)
2,842,650.00
2,842,650.00
3,173,650.00
3,570,850.00
3,570,850.00
Operating Supplies and Expense (550)
148,000.00
152,440.00
157,013.20
161,723.60
166,575.30 N. Gas Prices $4 /MCF in 2013 and 2014, $5 /MCF in 2015, $7 /MCF in 2016 and 2017
Total Production Operation (548, 547, 550)
4,131,250.00
4,169,908.00
4,540,725.74
4,978,938.01
5,021,180.65
Production Maintenance (554)
484,000.00
306,600.00
315,798.00
325,272.00
325,272.00
Purchased Gas Generation
13,350,629.48
14,072,265.31
14,135,750.21
14,201,139.66
14,268,490.78
Other Power Supply Expense (555, 558, 557)
Purchased Power (555)
13,350,629.00
14,072,265.00
14,135,750.00
14,201,139.00
14,268,490.00 Assume $660,000 MRES increase in 2014, MISO purchases increase 3% annually, 556, and
System Control & Load Dispatch (556)
329,600.00
334,184.00
344,209.00
354,535.00
365,171.05 557 increase 3% annually
Engineering Services (557)
55,000.00
10,609.00
10,927.00
11,255.00
11,592.65
Total Other Power Supply Expense (555, 556, 557)
13,735,129.00
14,417,058.00
14,490,886.00
14,566,929.00
14,645,253.70
Transmission Expense (560, 567, 574)
Transmission Expense Operation (560, 567)
1,125,489.16
1,225,000.00
1,325,000.00
1,425,000.00
1,425,000.00 Transmission increase of $100,000 in 2014 and 2015- negotiated settlement with GRE, 574
Transmission Expanse Maintenance (574)
26,200.00
26,986.00
27,795.58
28,629.45
29,488.33 increase of 3% annually
Total Transmission Expense (560, 567, 574)
1,151,689.16
1,251,986.00
1,352,795.58
1,453,629.45
1,454,488.33
Distribution Expense:
Distnbution Operation (580, 581, 586, 588, 589)
482,600.00
497,078.00
511,990.34
527,350.05
543,170.55
Distribution Maintenance (592, 594, 595, 596, 598)
232,500.00
239,475.00
246,659.25
254,059.03
261,680.80 year over year 3% increase
Total Distribution Expense:
715,100.00
736,553.00
758,649.59
781,409.08
804,851.35
Customer Service and Collection(902, 903, 904, 906)
Meter Reading (902)
17,050.00
17,561.50
18,088.35
18,631.00
19,189.93
Collection Expense (903)
122,320.00
125,989.60
129,769.29
133,662.37
137,672.24 year over year 3% increase
Bad Debt Write offs (904)
5,500.00
5,665.00
5,834.95
6,010.00
6,190.30
Customer Services (906)
46,750.00
48,152.50
49,597.08
51,084.99
52,617.54
Total Customer Service and Collection (902, 903, 904, 906)
191,620.00
197,368.60
203,289.66
209,388.35
215,670.00
S nse (911, 916)
S (911)
6,240.00
6,427.20
6,620.02
6,818.62
7,023.17
Mis g Expense (916)
200,760.00
206,782.80
212,986.28
219,375.87
225,957.15 year over year 3% increase
Total Sales Expense (911, 916)
207,000.00
213,210.00
219,606.30
226,194.49
232,980.32
Administrative and General (920, 921, 923, 924, 926, 928, 930, 935)
Adminstrative and General Labor (920)
480,000.00
494,400.00
509,232.00
524,508.96
540,244.23
Office Supplies and Expenses (921)
242,625.00
249,903.75
257,400.86
265,122.89
273,076.58 year over year 3% increase
Outside Services (923)
109,031.25
112,302.19
115,671.25
119,141.39
122,715.63
Property Insurance (924)
117,150.00
120,664.50
124,294.4
128,012.97
131,853.36
Employee Pension & Benefits (926)
1,174,128.75
1,209,352.61
1,245,633.19
1,283,002.19
1,321,492.25
Regulatory Expense (928)
31,900.00
32,857.00
33,842.71
34,857.99
35,903.73
Misc General Expense (930)
106,975.00
110,184.25
113,489.78
116,894.47
120,401.30
Maint. Of General Plant (936)
47,080.00
48,492.40
49,947.17
51,445.59
52,988.95
Total Administrative and General (920, 921, 923, 924, 926, 928, 930, 935)
2,308,890.00
2,378,156.70
2,449,501.40
1,522,986.44
2,598,676.04
Depreciation Expense (403)
2,400,000.00
2,600,000.00
2,650,000.00
2,700,000.00
2,750,000.00
Amortixadon- Development Study
200,000.00
1,400,000.00
-
-
Assume Paid in 2013
Payment in Lieu of Taxes (408)
924,473.37
987,648.16
942,599.37
954,976.82
967,614.10
Contribution To City-for Roadway Lighting (408)
142,666.32
148,777.00
151,752.00
154,788.00
154,788.00
3,667,139.69
5,136,425.16
3,744,351.37
3,809,764.82
3,872,402.10
TOTAL OPERATING EXPENSE
26,591,917.85
18,807,265.46
28,075,603.64
28,874,511.63
29,170,774.49
OPERATING INCOME
1,579,670.77
(388,701.94)
801,427.75
609,703.55
587,281.96
OTHER INCOME AND DEDUCTIONS
Other - Net
20,000.00
20,000.00
20,000.00
20,000.00
20,000.00
Interest Income
35,000.00
35,000.00
35,000.00
35,000.00
35,000.00
Misc. Income
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
Misc. Expense
(25,000.00)
(25,000.00)
(25,000.00)
(25,000.00)
(25,000.00)
Interest Expense
(116,948.58)
(40,488.00)
(35,613.00)
(30,613.00)
(25,488.00)
TOTAL OTHER INCOME & EXP.
(71,848.58)
4,512.00
9,387.00
14,387.00
19,512.00
NET INCOME
1,507,822.19
(384,189.94)
810,814.75
624,090.55
606,793.96
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