- Report on Management of Electric System
Burns & McDonnell has prepared biennial reports on the management, operation and maintenance of the electric system owned by the City of Henderson, Ky. The electric system includes production, distribution, and general plant facilities.
Conformity of financial practices with bond ordinance requirements and the actual condition of facilities are reviewed for these reports. Recommendations of necessary facility renewals and replacements are made. The reports are prepared to satisfy specific requirements of the existing bond ordinance.
On the basis of our review of information provided to us and our inspection of facilities, we have found that the system is being operated and maintained in an efficient, economical and businesslike manner. Budgeted funds have been established for additions and extensions of the production, distribution, and general plant properties. The rates charged for electric service have been adequate to cover operating and maintenance expenses, depreciation and long-term interest requirements.
In addition to the biennial reports, Burns & McDonnell also prepares an annual budget review of the electric system and Station Two for Henderson Municipal Power & Light. This budget review is required by the Station Two bond ordinance.