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Google"In this budget, for the first time in (a long time), there is not a general raise," said Dyersburg Electric System President and CEO Jimmy Williamson. "The city, county and school systems are not doing raises. All in all, our employees will be about the same. Most are pleased they have a job and are getting paid for a full week. Most (places) are cutting back to four days or laying off."
Williamson also reported that the system's recent rate increase worked the way officials hoped it would, bringing the system "back in the black" for the year
"Everything is going like we planned," said Williamson. "It's about what we predicted."
Dwight Hedge moved to approve Dyersburg Electric System's 2009-2010 budget, with Rawlin Folkes adding a second. The motion was approved unanimously, with all Power Board members present at the meeting.
The total operating revenue for the 2009-2010 budget is $8,570,000 with total operating and maintenance expenses totaling $7,077,200, leaving an operating income of $1,492,800.
Major projects budgeted for the 2010 Fiscal Year include:
* Transmission loop to new North Industrial Park
* Rear lot line upgrades at Tatum, Dawn, Sunset
* Resurfacing parking lot at 211 E. Court St.
* Change-out copper weld and copper conductor to ACSR
* Change-out reject poles identified by Osmose.
* Upgrade 1PH line to 3PH feeder on Millsfield Highway
* Complete 3PH loops from Millsfield Highway to Hurricane Hill Road
* Change-out bad poles on transmission line from Four Points to Dyersburg Stategazette n Upgrade traffic signal systems to video detection at Parr/ByPass, St. John/ByPass
* Upgrade SCADA to Digital Radio
* Upgrade CIS software
* new Spec Building in North Industrial Park
The Retained Earnings Budget for Fiscal Year 2010 begins with a balance of $34,767,758 on July 1, 2009. An additional net income of $1,414,800 is estimated throughout the year, resulting in an estimated fund balance of $36,182,558.
Williamson also reported to members of the Power Board that the system will receive $72,803.40 to apply to the Heckothorn Manufacturing bankruptcy total of $74,225.75.
Payments will be received over six consecutive months, with the remaining balance of $1,422.35 being charged off.
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Raising rates with a Retained Earnings balance of over 34 million bucks?
Corporate greed is on every level of every business in America.
Oh Crap, I foresee more rate increases in the near future when thy over spend their budget!
34 million left in bank? how about a rate reduction for the people? or atleast donate some to the city departments.
"The city, county and school systems are not doing raises." Why should they? No one else in the "workforce" is getting raises. After all, "Most [places] are cutting back to four days or laying off." What that means is that a lot of people aren't going to be able to afford utilities much less that new rate increase. But then, who cares? We've got $34 million dollars to keep us in the black. How short-sighted. Folks, this problem with our economy isn't going to get better. Industry creates wealth that sustains government bureauocracy and all the services to which we have become accustomed. Government does not create anything but debt and as most rational people know, it's not possible to live on credit indefinitely. There's got to be a payday to creditors someday. And government does not create jobs. It increases the size of its bureauocracy with a corresponding increase in government cost...leading to more taxation...on people who are jobless...who in turn lose their homes and cars...and turn to crime to survive...which forces government to hire more law enforcement personnel and judges and build more jails...that taxpayers have to support with tax dollars they don't have. See the problem? The problem is government. Government doesn't solve problems. It creates problems. The solution is simple really. Downsize government and its taxes on business. New businesses start without the burden of government interference creating jobs for "the workforce" who then buy goods and services and thereby generate revenue for schools and other necessary government functions. Silly rabbit! Taxes are for politicians.
This is plainly over the top. Talk about homeless, crime,all of this is B S.
Yea I have to agree with the rest of the folk on here. You act like your doing the citizens of Dyersburg a favor by saying no raises. Please. Foreal no raise . People are struggling and all your thinking about is lining your pockets. I understand capitalism but these is the worst economic recession in over 25 years. But you want to pat yourself on the back while still raising rates cause your in the black. Go figure
Au contrair, different/visions/12. Government spending, mandates for spending, burdensome taxation, and interference with business are principle reasons manufacturing jobs have gone elsewhere. Those and the limosine environmentalists like Al Gore whose green legislation has stifled any hope we have of energy independence. Many of the problems in our society can be traced back to irresponsible legislation and spending by government at all levels. Corporate greed is the other big problem we have. Unfortunately, we have to rely on government to restrain corporate greed without killing business altogether or, in the case of Chrysler, GM, and our healthcare system, doing a government takeover. The solution to our nation's economic woes begins at the city and county level of government. We have to demand accountability for every tax dollar that is taken from working people. And when $34,000,000 tax dollars are kept in reserve and a ten percent rate increase is passed, we have a problem that needs fixing.