On July 14, the TVARS board voted to recommend that TVA contribute $350 million to TVARS in 2015. Jim Hovious and I supported and voted for this recommendation when it became clear to us that the board was likely to recommend a lower amount without our support. Per the outdated formula in the TVARS rules, TVA must contribute at least $215 million in 2015. Changing the minimum contribution formula would require the approval of both the TVARS and TVA boards.