BPU Nets First-Half Profit In 2014
With the electric division leading the way, the Jamestown Board of Public Utilities has seen a profit through the first half of the year.
This week, the six-month financial summary was given during a BPU board meeting on all five of the utility divisions – electric, district heating, solid waste, waste water and water. The report created by Mike Anderson, BPU business manger, states the electric division had a net income of $2.3 million during the first half of the year. The profit was $562,000, or 33 percent, more than budgeted by BPU officials. Billed kilowatt hour sales increased 5.3 percent compared to the first half of 2013, with residential sales up 17.1 percent and commercial sales up 2.9 percent. Industrial sales were down 6.1 percent.
The only BPU utility division under projection after the first half was the water division. The net income was $190,000, which was $48,000, or 20 percent, under budget. Operating expenses of $2.35 million were $119,000, or 5 percent, more than budgeted for the water division. During the first half of the year, 81 main breaks and 56 service leads were repaired. In 2013, BPU officials fixed 48 main breaks and had 21 service leaks during the first six months of the year.
The waste water division had a net income of $261,000, which was $176,000 more than budgeted. Operating expenses totaling $2.2 million were $180,000, or 7 percent, lower than expected.
The solid waste division’s first half income was $254,000, which was $198,000 more than the budgeted amount of $56,000. The profit was due to a grant the BPU received for $258,000 to offset the cost of the three new recycling trucks purchased last year.
The district heating division had a net income of $325,000, which was $114,000, or 54 percent, more than budgeted. During the first half, heat sales increased $217,000, or 19 percent, more than expected.
In other business, Chuck Cornell, BPU board member, attended his first meeting since being named to the board in June. Sam Teresi, Jamestown mayor, appointed Cornell, with Jamestown City Council’s approval, to finish the unexpired term left vacant by Fred Larson’s resignation to become a Jamestown City Court Judge. Cornell’s term on the board runs through the end of 2017.
Cornell is the director of the Center for Regional Advancement at SUNY Fredonia. Cornell has a master’s in public administration from the State University of New York at Albany. He is a past board member of the Chautauqua County Industrial Development Agency; Manufacturing Technology Institute; Grater Jamestown Empire Zone; Chautauqua County Housing and Neighborhood Revitalization Task Force; and Chautauqua County Parks Commission. He also served on the County Legislature from 2006-10 and was the clerk of the legislature from 2004-06.