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| | Wednesday, September 23, 2020
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NU Board Meeting
The Newport Utilities(NU)Board met Tuesday and was told a special audit ordered by TVA is expected to get underway next week. The utility is currently under investigation by the Tennessee Comptroller's Office due to alleged "irregularities", and so General Manager Mike Williford reported some time ago that the federal power producer has asked for the special audit of NU's financial records. Joni Daniel, Vice President of Finance and Accounting told the board Tuesday that finances in the electric, water and wastewater are looking pretty good. She reported that electric sales are up for the year by about $1.1 million, water sales are up ending August with $1.5 million in cash, sewer also is up with $176,000 net income for the year. The Broadband division revenue however is below budget estimates year-to-date, but is above 2019 levels. Utility officials say broadband installation has nearly come to a standstill, although efforts continue to provide wireless service to a number of areas in Cocke County. There are two contributing factors;(1) because of the coronavirus, customers are hesitant to allow installers into their home and (2)cash flow in the department is tight and so there is little cash available for installations.
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Return to Today's News Stories - Front PageThursday, April 29, 2021
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