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3/24/1976
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3/24/1976
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7/23/2015 11:28:18 AM
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
03/24/1976
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r" <br />IN AND INSTALL A NEW SEWER SYSTEM WITH A 50,000.GALLON PER DAY SEWAGE TREAT- <br />MENT PLANT AT THE SITE OF THE OLD PLANT AND HAVE RECEIVED COST ESTIMATES OF <br />ABOUT $70,500.00 HE STATED THAT THERE HAS BEEN NO REQUEST FOR A RATE INCREASE <br />SINCE THE FRANCHISE WAS GRANTED IN 1960, AND UNDER CURRENT CIRCUMSTANCES, <br />THEY ARE INCURRING A SUBSTANTIAL ANNUAL LOSS ON OPERATIONS. ATTORNEY <br />HENDERSON FURTHER POINTED OUT THAT THE RATES TREASURE COAST UTILITIES IS <br />REQUESTING ARE THE SAME AS THOSE GRANTED ABOUT THREE MONTHS AGO TO LAUREL <br />HOMES, INC. HE PRESENTED THE BOARD WITH A PROFIT AND LOSS STATEMENT FROM <br />SOUTHERN GULF UTILITIES SHOWING THE NET ANNUAL LOSS INCURRED AND NOTED THAT <br />WITHOUT THE RATE INCREASE THE PROPOSED $70,000 PLANT CANNOT BE INSTALLED <br />AND THE CITATION WILL REMAIN IN EFFECT, <br />CHAIRMAN SIEBERT ASKED ATTORNEY HENDERSON TO EXPLAIN THE PROFIT AND <br />LOSS STATEMENT PRESENTED IN REGARD TO DIXIE GARDENS. <br />ATTORNEY HENDERSON EXPLAINED THAT SOUTHERN GULF UTILITIES IS A MUCH <br />LARGER OPERATION THAN TREASURE COAST UTILITIES AND POSSIBLY SOME OF THEIR <br />COSTS WOULD BE SLIGHTLY DIFFERENT FROM AN ADMINISTRATIVE POINT OF VIEW, BUT <br />FELT THE SAME TYPE OF COSTS WOULD BE OCCURRING REGARDLESS OF SIZE. <br />ATTORNEY HENDERSON THEN INTRODUCED MR. ED WORSEN, EXECUTIVE ASSISTANT <br />TO THE PRESIDENT OF SOUTHERN GULF UTILITIES. <br />MR. WORSEN STATED THAT THE LOSS FOR THE YEAR 1975 WAS OVER $10,000 <br />IN REGARD TO THE SEWER SYSTEM AND OVER $9,000 FOR THE WATER, OR A LOSS OF <br />APPROXIMATELY $20,000 FOR 1975. <br />L.S. "TOMMY" THOMAS, COUNTY COORDINATOR STATED THAT HE COULD NOT <br />CONSIDER THIS REPORT ADEQUATE TO BASE ANY JUDGMENT ON AS IT IS NOT EVEN <br />CERTIFIED. <br />MR. WORSEN REPLIED THAT HE DID BELIEVE THIS IS AN AUDITED REPORT AS <br />IT IS DONE BY THE FIRM THAT PREPARES THE FINANCIAL REPORT FOR SOUTHERN GULF. <br />THIS REPORT, HOWEVER, IS PART OF THE TOTAL COMPANY AUDIT. THE FRANCHISE <br />UNDER CONSIDERATION TODAY IS ONLY ONE OF THEIR SMALLER SYSTEMS AND IT IS HARD <br />TO PICK OUT FIGURES APPLYING JUST TO THIS OPERATION. <br />CHAIRMAN SIEBERT STATED THAT WE HAVE JUST RECEIVED THESE FIGURES <br />AND CANNOT EVEN UNDERSTAND THEM AS THEY ARE PRESENTED. <br />MANY QUESTIONS FOLLOWED IN REGARD TO ADMINISTRATIVE EXPENSES, WHICH <br />IT WAS FELT SEEMED TO BE A DISPROPORTIONATE PERCENTAGE OF GROSS INCOME. <br />15 <br />a <br />R 2 4 19:76 <br />A��' .x..187 <br />
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