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BPU Board Approves Dividend Payment

December 4, 2013

A BPU dividend payment will be heading to the city’s general fund again in 2014, but not in the way it has been debated....

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(26)

madman

Dec-05-13 2:34 PM

Great points IKE..but again lets not confuse anyone with facts here or else you will be accused of being up this mayor's arse also.

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IKE1952

Dec-05-13 1:46 PM

And to my fiend fmd1934, apparently the very conservative financial experts from Wall St., feel that the Mayor and City Council are doing a decent enough job.

After reviewing the city's current status and progress during recent years, they recently upgraded the city's credit rating for the second time in three years and for the first time in four decades, restored Jamestown's A credit rating.

Teresi and the Council must be doing quite a bit right for that to happen, in this day and age.

Also, the city residents must feel the Mayor is doing a good job. In the last two elections they re elected him with 75% of the vote and two years ago the other party couldn't even find anyone to run against him.

Maybe you should consider moving into the city and taking a shot...if you are that unhappy and have any guts.

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IKE1952

Dec-05-13 1:39 PM

Great point Emelye. If all these folks from the suburbs don't like the way the City runs it's own utility systems, there is an easy solution for them. BUY THEIR ELECTRIC, WATER AND SEWER ELSEWHERE.

No one is forcing these people to buy these services from the city. If they can find a better and less expensive way to provide for themselves, go for it!

And by the way, that includes electric. NYS deregulated the electric and natural gas utility business several years ago and allows individual customers to buy from whomever they can get the best deal.

And hundreds of thousands all over NYS are shopping and doing just that.

Again, if there is a better and cheaper option than buying from the city, they should take it.

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madman

Dec-05-13 1:24 PM

fmd you are so typical. You love to whine and make ignorant states such as "What has the Mayor done to completly alleviate taxes for this community ? Sure he's done a few little things granted. But he can do more and chooses not to !". In my previous post I asked if you were a moron, but now you just answered my question. Name me 1 mayor, 1 govenor, 1 county exec, 1 president who has ever as you say "completly alleviated taxes for this community" You think this is an intelligent statement? And also, "But he can do more and chooses not to". Name me 2 things that back up this statement? You make statements without any facts, any thought, any proof, any alternative solutions, and that, is MORONIC!

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Emelye

Dec-05-13 9:44 AM

For those who enjoy Jamestown's electric rates while living outside its borders, perhaps, if this activity by the City Council is so onerous, you should vote to leave the BPU's distribution grid and go with the supplier that provides electricity to the rural parts of the county?

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fmd1934

Dec-05-13 8:48 AM

Really Madman, now you are resulting in name calling ? Your so far up the Mayor's *** that your smelling this joint up. What has the Mayor done to completly alleviate taxes for this community ? Sure he's done a few little things granted. But he can do more and chooses not to ! Go away and stop defending a man that is incapable of making some tough decisions.

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madman

Dec-05-13 7:30 AM

fmd, are you a moron? The dividend was included in the city budget which was voted on and approved, for which both repulican legislators voted yes. Your agruments are political, and not logical. IKE, you are confusing people like fmd and rodrickson with facts. Let see their reponse to your posting. RODRICKSON, I have no clue what point you are trying to make. It is clear you still do not get that the city of Jamestown owns the BPU, and if the mayor decides to use some of the profits to assist in budgeting, he has that right. If you disagree with that, then run for mayor, and use that point as your platform. And then see how many people agree with you.

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rodrickson

Dec-05-13 7:09 AM

@madman

how many of you are on this site? You seem taken aback that I would question the city's appropriation of BPU funds.

Yet you said "If there was or is a shortfall in BPU budget, the taxpayers of JAMESTOWN are on the hook and responsible not the customers of West Ellicott, or Falconer, or Lakewood."

Ummmmm. How is that any different from saying, If there was or is a shortfall in THE CITY OF JAMESTOWN budget, the taxpayers of JAMESTOWN are on the hook and responsible not the BPU customers of West Ellicott, or Falconer, or Lakewood."

How can you have two totally divergent attitudes on the subject?

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IKE1952

Dec-04-13 7:17 PM

So let me see if I can understand this whole issue.

The County owns and operates an electric utility(located in Stockton) that runs a profit. The County Executive and Legislature use ALL (100%) of the after expenses profits, every year, in the County Budget. And, that's perfectly legal and just fine.

The city owns and operates an electric utility that runs a profit. The Mayor and Council want to use LESS THAN 10% of the after expenses profits in the City Budget. And, that's "illegal" and just plain wrong?

Sounds kind of hypocritical to me!

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fmd1934

Dec-04-13 5:38 PM

well said taxpayer.

Now Madman, the Mayor appoints people to the Board, They have no idea how to run a public utility ! They are a political board which the Mayor surrounds himself with. Who cares about Dolce and how he voted on the city budget, did he vote on the Actual BPU board to allow the $400K transfer ? Answer is No. Nice try at deflection.

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madman

Dec-04-13 4:47 PM

taxpayer, do you know the city finance committee chair is a republican (Tony Dolce)? do you know the 2 republicans on the council BOTH voted yes to this budget? If there was or is a shortfall in BPU budget, the taxpayers of JAMESTOWN are on the hook and responsible not the customers of West Ellicott, or Falconer, or Lakewood. Hand picked cronies? Should he not chose board members that aren't like minded? Do some reading, attend some meetings, educate yourself. You may learn something.

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taxpayerfred

Dec-04-13 4:14 PM

Why can't the mayor balance his own budget. The BPU has not been raided in fifty years and now he has raided the fund two years in a row. He is just like Obama. The city which is headed by Teresi and his democratic cronies spends more money than they take in so they rob the BPU to make it look like they are doing a wonderful job by raising your taxes only 2 percent. What if the BPU has a major problem and needs money desparatley. Is the city gointo give them the money back or will they need to borrow it. WHat if the BPU does not have the money for him to steal next year then what will he do to fill the hole in his budget. BY the way he is not the President of the BPU. He is president of the board. Him and his hand picked cronies are the only ones who voted to take the money from the BPU.

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madman

Dec-04-13 3:46 PM

ok rodrickson, what exactly is your point?

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madman

Dec-04-13 3:45 PM

holly, the BPU made $4million profit this year..they continuously make good profits, as they should...they continue to upgrade infrastructure, as they should..they continue to increase their cash position, as they should to a point..because someone like Carl Pillitari, who is a board member, says taking a $400K dividend will cause rate increases, you take that as true? As an intelligent person, does that make sense to you? I seriously hope it does not. Unfortunately, I believe many citizens listen to garbage that people like Carl Pillateri say, and think it is gospel. THINK PEOPLE!!!

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rodrickson

Dec-04-13 3:45 PM

"This dividend has nothing to do with where you live unless you live in Jamestown."

You prove my point exactly.

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holly10berry

Dec-04-13 12:48 PM

Well madman, this is was I read, "Carl Pillittieri, BPU board member, said he is concerned about the payment toward the city because of how it affects the utility's bottom line. He said by giving BPU revenues to the city's budget to lower a property tax increase, it takes funds away from maintaining the utility, which could lead to rate increases. He said a BPU rate increase would be similar to a property tax hike for city residents."

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Watcher02

Dec-04-13 12:03 PM

Fred Larson, BPU board member stated that $450,000 out of $4,000,000 in profit is a very SMALL number. Its pretty simple to understand that statement at least for the majority of people. Please make comments that are factual reply

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Watcher02

Dec-04-13 11:18 AM

Please refer back to Madman's statement. The MAYOR IS THE PRESIDENT OF THE BPU. How many times does this have to be said. The BPU is owned by the city of J-town. The mayor along with the board decide where the dividends should be used. This is how it works. The board has decided along with the mayor to use this money in his budget. If you don't like his decision then do to your city council member and voice your concern. Attend a city council meeting. Quit wining that the Mayor is doing something illegal .

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JFrank

Dec-04-13 11:17 AM

Thank You Madman for making logical and rational points. The B.P.U. is owned by , was created by and for the residents and taxpayers of the City of Jamestown. and in fact they pay huge taxes to outlying school districts. I was glad to see that the board decided to take all the dividend payment from the electric division and none from the water. The electric rates are controlled by the state public service commission and cannot by changed without a request and hearing which is expensive and time consuming. The water rates are controlled by the board and I don't want to them to use the dividend payment as an excuse to raise rates.

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madman

Dec-04-13 10:22 AM

holly, have you misunderstood this whole conversation? This dividend claimed was to keep tax rates DOWN. There is absolutely no reason for the BPU to raise rates unless they feel they need to make MORE profits. fmd, this budget was also passed by the city council. Why no anger there? Maybe because this is the right thing to do at this time?

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holly10berry

Dec-04-13 9:59 AM

Raising the rates will take away the ONE and ONLY reason that most people stay in Jamestown......bad move Mr. Mayor!

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fmd1934

Dec-04-13 9:00 AM

Bottem line is the Mayor cannot and will not balance his own Budget.

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madman

Dec-04-13 8:52 AM

dystopia, I would guess the BPU (city of Jamestown)is already the largest single property taxpayer for all of those municipalities and their school districts. They should be thanking Jamestown for helping them balance those budgets and keeping their property taxes down. And giving away free money? Is that what you say to customers of IBM, Apple, Coca Cola, Microsoft? Should those customers be upset that dividends are paid to stockholders? Sounds ridiculous doesn't it.

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dystopia

Dec-04-13 8:14 AM

rodrickson and BPU customers from the outlying communities thank you for help Jamestown balance their budget.

I'd also like to thank for you the yearly but less visible contribution you make. 19% of water revenue goes directly to the city coffers and you pay a considerable amount more for water then Jamestown residents, so thanks again.

If those outlying communities want to get in on the free money the BPU BOARD is giving away why not have the lands that the cassadaga, poland well fields and the wastewater treatment plant occupy reassessed.

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madman

Dec-04-13 8:01 AM

what is your question Rodrickson? That makes you a customer of a company owned by the city of Jamestown. This dividend has nothing to do with where you live unless you live in Jamestown. And Mr Pilliteri, are you saying with the BPU making $4million in profit, and paying a $400K dividend, this could cause a rate increase? Does that make sense to you? BPU is well run, makes a profit, has a very strong fund balance, and continues to upgrade infrastructure without having a negative affect on the bottom line. But paying a dividend to the owner of the company (citizens of Jamestown) will? Those kind of statements are very scary for us citizens given the fact you sit on this board.

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