Hope Water & Light Commission Meets

The Hope Water and Light Commission met in the Hope Water and Light building on Tuesday evening (10-3). The meeting began with a presentation by Utility Financial Solutions on the cost of service and rate design for HWL Electrical Systems. There was no action taken.

The minutes of the August meeting were approved as presented.

Ms. Bradley presented the financials.

Broadband revenue was up by $56,000 compared with last year at this time. Expenses up $201,000. Net income was -$296,000. Last year’s net income was -$233,000.

Water revenue is up $43,000 compared to last year. Expenses are down $102,000. Net income is $149,000 more than last year at this time.

Electrical revenue is down $2.2 million compared to last year. Expenses are down $2.4 million compared to last year and net income is up $366,000 compared to last year.

The Commission approved a 4% Cost of Living Adjustment.

There were project updates on the Transmission Project, Prepaid Customers, the Drive-Through, Net Metering and Fiber to the Home.

A motion was made, 2nded and approved to give $100,000 to the Hope Public Schools for student college scholarships.

The meeting adjourned.