When cities run utility companies.

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I had been critical at one point in the past couple of years over the City of Pierre running it's own electrical utility (and balancing general budget shortfalls on the utility customers.) But here's a municipality that makes them look like amateurs.
An accounting mistake by the City of Freeman has caused a dispute between it and the Freeman Public School.

On Feb. 19, city officials discovered that, due to the utilization of an incorrect formula, the school was one of 19 natural gas customers that had been overcharged since 1997. The error was discovered after NorthWestern Energy bought the municipal gas operation Feb. 1.

While the school has been issued a refund check for $98,561.65, the issue of how much interest should be added to the refund has created a disagreement between the two organizations. The other overcharged customers signed waivers and were issued refunds without interest.

The school figures it may be justified in asking for 15 percent interest on the nearly $100,000 it overpaid for natural gas over the course of 10 years. That would equate to an interest payment of $76,071, the school argues, which is far more than the city’s offer of $1,741.70
Go read it here at the Mitchell Daily Republic.

I'm not sure who's worse in this - the city offering $1700 interest ofter overcharging the school by nearly $100,000 over a decade, or the school wanting 15% interest.

I sense there will be a political solution sought somewhere in this.

Comments

Anonymous said…
If the other customers don't get any interest, why should the school? They should be happy they're getting the monet back.
11:44 PM
Anonymous said…
There they go again. Perhaps the edu. bureaucrats need the extra cash for their lawsuit.
11:44 PM
Anonymous said…
Woops! That's MONEY, not a painting.
11:45 PM
Anonymous said…
Who's the new guy on the top banner? Looks like a punk rocker.
12:20 AM
Anonymous said…
The guy with the beard? That's Commander Riker, of the starship Enterprise.
3:00 AM
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