The Board meets on the first and third Monday of each month. Meetings begin at 1:00 p.m. and are held in the department conference room at 65 Lafayette Ave, Littleton. Board meetings are open to the public and time is allotted for public comments at each meeting.
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The regularly scheduled Board of Commissioners (BOC) meeting began at 1:00 p.m. on Monday, May 2, 2016 in the Littleton Water and Light (LWL) conference room. Present were Commissioner Eddy Moore, Commissioner Perry Goodell, Commissioner Ralph Ross, Financial Director Cheryl Wilkins and Superintendent Thomas Considine.
MINUTES REVIEW:
The minutes of the April 2, 2016 and April 16, 2016 regularly scheduled Commissioners meeting were reviewed. Commissioner Goodell made a motion to accept the April 2nd minutes as amended and the April 16th minutes as presented, seconded by Commissioner Ross.
The vote was in favor of the motion 3-0-0.
APPOINTMENTS:
Mr. Dan Merchalski, Town of Lisbon Administrator, Ms. Jan Marshall, Lisbon resident and Mr. Greg Eastman, LIDC president attended the BOC meeting and were representing a fact finding committee in regard to a potential Lisbon Industrial Park on Mt. Eustis Road.
Mr. Eastman made introductions and stated that the Lisbon Committee had approached LIDC with regard to requesting assistance in establishing an industrial park in Lisbon on Mt. Eustis Road adjacent to the town line. They would like to attach to the nearby LWL utilities as they have served LIDC tenants well over the years with a stable and economic rate.
Mr. Merchalski stated that he had recently spoken with Littleton’s Town Manager in regard to tying into Littleton sewer on Mt. Eustis and he appeared in favor of the project.
Ms. Marshall stated that the town of Lisbon is one of the poorest towns in NH and heavily dependent on the wire mill. If something were to happen to the mill it would be catastrophic for the town and its residents. Growing the tax base and providing other employment opportunities in the proposed park would help mitigate some of the risk and dependence the town with just having one major employer.
Mr. Merchalski stated that based on a previous discussion with Mr. Considine the proposed 75 acre parcel, zoned industrial is in the NH Electric Cooperative (NHEC) franchise area though their three (3) phase lines are on Route 302 about 9,000 feet away. The initial discussion with NHEC officials in regard to surrendering this portion of their franchise area were met with some resistance.
The BOC agreed that the project has merit and makes sense. Commissioner Moore stated that as the parcel abuts an industrial area and has access to utility is a plus.
Superintendent Considine stated that LWL’s water main and overhead electrical lines currently terminate about 500 feet and 100 feet from the town line respectively.
Mr. Eastman stated that the committee did not want to reengage NHEC without first giving LWL a heads up. The committee thanked the BOC and excused themselves from the meeting at about 1:40 p.m.
SUPERINTENDENT/ GENERAL MANAGERS REPORT:
Superintendent Considine stated that the sales firm representing NH Solar Garden last summer has reengaged the Littleton Energy Conservation Committee. The proposal is basically the same (repurpose the old land fill by installing a passive solar array) though they propose to sell directly into the ISONE grid bypassing LWL. LWL rejected the 2015 proposal as being un-economical and overpriced as compared to the rest of the market.
Normally solar array developer’s work with a purchase power agreement (PPA) set up with a prospective buyer to make the sale more economical. Wheeling to the grid does not sound entirely accurate or cost effective due to wheel charges that are to be incurred by using someone else’s infrastructure. The BOC will be kept informed as to any action with regard to this matter.
GENERAL/ OTHER BUSINESS:
The preliminary (for discussion purposes only) results of the audited financial statements for the year ended 2015 were reviewed and discussed with the BOC.
There appears to be a significant difference of opinion/ interpretation between our previous auditor (J. Harding) and the current auditor (Vachon Clukay & Company) as to the material significant of complying with Government Accounting Standards Board (GASB) statement 45 – Post employment Benefits (OPEB). Under the GASB – 45 rules LWL must account for any material liability due to retirees remaining on the group insurance plan, generally under age 65 even if the no stipend are paid to retirees.
There has been much discussion with regard to GASB 45 with the auditors from Vachon Clukay & Company and the general consensus is that to prevent a possible adverse opinion a GASB 45 healthcare actuarial needs to be completed. The actuary will annotate (estimate based on current healthcare plan and retirees) whether the healthcare liability is materially significant or not with regard to the LWL net financial positon as disclosed.
Following some additional discussion the BOC was in agreement that the LWL should enter into an agreement with the Howard Nyhart Company to have a full GASB 45 actuarial update performed for the quoted amount of $3,500. The actuary will be valid for up to three (3) year as long as there are no major changes in health care insurance plans or number of retirees evaluated on the 2015 valuation. Other changes in GASB are expected to affect LWL in the near future as the government expands the Affordable Care Act (Obamacare) reporting requirements.
Note: the actuary firm was recommended by Vachon Clukay & Company (2015 auditors) as they have a large number of customers in NH and are familiar with the NH Retirement system.
ADJOURNMENT:
Commissioner Ross made a motion to adjourn the meeting, seconded by
Commissioner Goodell.
The vote was in favor of the motion 3-0-0.
Meeting adjourned at 2:14 p.m.
The regularly scheduled Commissioner’s meeting is held twice monthly on the first and third Monday, at 1:00 p.m., in the Department’s conference room.