At the June 21st meeting Essex Council had ELK appear as a delegation to present their audited financial statements:
Mark Danelon, Chief Financial Officer, Director Stakeholders Relations,
E.L.K. Energy Inc.
RE: 2020 Consolidated Financial Statements
Mark Danelon, Chief Financial Officer, Director Stakeholders Relations, E.L.K.
Energy Inc., presented on the 2020 Consolidated Financial Statements and
provided a general overview of the accounting methodology behind the
financial statements
Mr. Danelon noted that in 2020 E.L.K. Energy Inc. had an opportunity to pay off
long-term debt. Mr. Danelon further stated that after taking into account the
assets and labilities, E.L.K. Energy Inc.’s revenue has increased this year.
He provided Council with a list of some of the significant projects
accomplished in 2020.
Council then had an opportunity to ask Mr. Danelon various questions with
respect to the financial statements.
On our YouTube channel around the 17 minute mark you can see the full discussion. Mark mentions many new projects, Crawford Packaging, new subdivisions, work on Highway 3, Kingsville Medical Center along with, ” replacing transformers, pole replacements and continued underground asset replacement”.
I think it is important we have a bit more information on the renewal projects. How many transformers? How many poles? How much underground asset replacement? I asked a few questions, I was the only councillor who asked any questions and I believe our residents and businesses still have more questions.
The Essex Mayor suggested I ask my questions through the ELK Board Chair Ron McDermott so I have entered a Notice of Motion to hopefully be discussed Monday July 19th at council.
Councillor Bondy
Moved by Councillor Bondy
Seconded by ____
That Essex Town Council request that E.L.K Energy’s Board
meeting minutes be open to Council and/or the Asset
Management Plan be shared with Council; and
That Essex Town Council request Ron McDermott, Chair of
E.L.K. Energy, raise this request at the next scheduled meeting
as per Mayor Snively’s suggestion at the June 21, 2021 council
meeting.
Tune in Monday to our YouTube channel to watch, Essex Ontario.
According to information on the Ontario Energy Board website- the ELK Distribution Asset Management Plan is In Progress but what does that mean?
