The Greeneville Light & Power System's board of directors on Monday approved the utility's operating forecast, comparable to a budget, for the 2008-09 fiscal year, projecting a net margin of $4.1 million.

GL&PS Controller Bob Windham presented the forecast, noting that, because of the struggling economy, he has been "very conservative" in his estimates for the coming year.

"I feel like the times warrant it," he said of his conservative efforts in preparing the forecast.

The forecast projects total operating revenue of $95,350,764, including $92,955,342 in electric sales revenue.

Project expenses total $91,991,135, leaving operating income of $3,359,629.

Factoring in "other income" of $838,279 and "miscellaneous income deductions" of $84,600, the operating forecast includes a net margin of $4,113,308.

In other business, the board voted to authorize General Manager Bill Carroll to negotiate the granting of an easement to the Town of Baileyton.

Carroll said Baileyton is seeking the easement for construction of a sewer lift station near GL&PS's Baileyton Substation.

The 900-square-foot easement, Carroll said, is located at the corner of Tennessee Highway 172 (the Baileyton Road) and Waymar Lane.

He showed board members drawings of the location of the easement, which he said would not interfere with the operations of GL&PS.

Carroll also reported that renovations of the GL&PS headquarters' customer service department were completed about two weeks ago.

The renovations, which include a more spacious lobby area, are "a great addition" to the GL&PS headquarters, Carroll said.

"It's going to serve our customers better," Carroll told the board.

The next phase of the remodeling project includes a new auditorium area that will be used as a boardroom and courtroom by Greeneville's government.

Carroll also reported that at the end of the day on Monday, GL&PS will have six months with no loss-time injuries.