Natural Gas Board Minutes

The Humboldt Natural Gas Board met in regular session on Thursday, January 5^th, 2006. The meeting was called to order by Chairman Jim Jarding at 7:05 p.m. Members present were Harvey Shumaker, Kira Schmeichel, Lynn Froke and Ritchy Griepp.

The minutes of the December regular meeting were reviewed. A motion was made by Griepp and seconded by Froke to approve the minutes. The motion carried.

The financials for the month of December were reviewed. A motion was made by Schmeichel and seconded by Shumaker to approve the financials. The motion carried.

The rates paid for December usage were $11.1019 per dekatherm. The estimated rate for January usage is $9.99 plus $0.9023 transportation for a total of $10.8923 per dekatherm.

Locking in was discussed. It was the consensus of the board not to lock in.

Eide Bailly was contacted to provide the board with an independent accounting review of the Natural Gas Financials. Estimated cost for the report would be between $500.00 and $750.00. A motion was made by Griepp and seconded by Schmeichel to have Eide Bailly provide the board with a report regarding the Natural Gas Financials not to exceed $750.00. The motion carried.

The meters have been checked for corrosion and meter set stability by the finance officer and the assistant finance officer. All of the meter bars need to be painted this summer. The board indicated that they would like someone hired for the summer to do all of the painting.

With no further business, a motion was made by Froke and seconded by Griepp to adjourn the meeting at 7:30 p.m. The motion carried.

ATTEST: KRISTIE ELLIS

FINANCE OFFICER