Journal-Times (Grayson, KY)

Local News

May 29, 2013

Finances, electric rates fill Olive Hill City Council agenda

May 29, 2013 — Olive Hill City Council got its first look at a proposed budget for the next fiscal year at Tuesday night's meeting.

Mayor Kenny Fankell presented his proposed 2013-2014 budget but the Council members were not satisfied with the figures and asked for a more thorough document with a list of itemized costs.

The budget they received was only a single page in length.

Council also discussed how to appropriate a $170,000 refund from American Electric Power (AEP) resulting from this year’s “true-up” with the company.

Putting the money into an escrow account, using the funds to upgrade infrastructure or refunding customers were suggested as possibilities for using the refund.

Council directed City Attorney George Hogg to research the legality of how the funds can be used. Fankell then asked the Council to approve a resolution for the city to apply for a new credit card using only the city’s name as cardholder.

In the past, the city clerk also had been shown as a cardholder. Fankell said the change will make it easier for other city employees to use the card when needed.

“There haven't been any problems with the card at all. We just need to do this so other people can use the card when the clerk isn't there,” Fankell said.

Council also conducted the second reading of the revised electric rate ordinance that reinstates a $50 deposit for meter testing and removes a provision that would automatically enroll customers using more than 8,000 kilowatt hours monthly in a demand metering schedule.

Council deadlocked on the issue with members Allen Stapleton and Jerry Callihan voting in favor of the ordinance while Glenn Meade and Enoch Hicks voted against it.

Fankell broke the tie, voting in favor.

Discussion then turned to an Aug. 21, 2012, vote by the Council to seek an independent audit of the city’s finances by State Auditor Adam Edelen.

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