By Shannon McFarlin WENK/WTPR News Director
Paris, Tenn.—The Paris Board of Public Utilities had good news to share at Tuesday’s meeting in relation to its financial reports.
BPU made a $1M principle payment on the long-term debt in its electric department, producing a new debt total of $9.28M.
General Manager Terry Wimberley said BPU also decreased the bond reserve as the debt has lowered because there are less reserves needed. “Now we have $375,000 in reserve funds that we will use down the road as we move toward more capital projects.”
Additionally, all three equipment purchases approved Tuesday came in under budget. The board approved purchase of a right-of-way bucket truck for $167,374, which came in considerably under the budgeted amount of $195,000. The board also approved the low bid for a new water department dump truck at $79,566, which came in just under the $80,000 budgeted amount. Also approved was a new wastewater department backhoe for $78,906, which was under the budgeted amount of $88,000.
Wimberley also reported BPU now has 1,038 customers for its prepay program. “The number climbs daily,” he said. “There are people for whom this program works.” BPU is also seeing $6,000 less in penalties and $7,000 less in reconnect fees, he said. “That’s less revenue for us, but it’s much better for our customers,” Wimberley said.
Photo: BPU General Manager Terry Wimberley reviews reports with board members. (McFarlin photo).
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