McPherson’s Board of Public Utilities (BPU) met Monday to discuss developing a cash reserve. BPU General Manage Tim Maier said the reserve would be based on factors such as operating expenses, capital improvements, bonds and interest payments.
Maier added the purpose of the reserve would be in the event of a major storm or losing a major customer, the utility would have a sufficient cushion to continue operating. At this point, however, the reserve is not in place and discussions are ongoing.
In other business, BPU received its first bill from Westar Energy that factors in new transmission costs. The total for the bill was $388,517. Also, BPU voted to alter its June meeting schedule slightly. Now, the board will meet June 13 and 27.