3.1.C. ERMUSR 05-10-2011 - Laserfiche WebLink

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Water P&L Water Operating Revenues arc just barely ahead of budget by $3,479 or 4.3%, and consistent with the prior year numbers. We pumped 1.5 million gallons more water this year (35.6 million gallons of water in 2010 versus 37.1 in 2011) and sold 400,000 gallons more. Other Revenue is down from the prior year due to nonrecurring connection fees in 2010. The Investment Income is posting better returns with the sweep account in place, as noted above, and helps to minimally offset the other categories' reductions. The Miscellaneous Revenue from the water tower lease is in line with budget. Expenses are in line with budget, however increased over the prior year. As noted above, the slimmer margins are presenting different results and should not be compared to the prior year as such. The increases from the prior year in Administrative and General Expense is a result of increased focus in conservation, purchases of office supply computers, and the timing of a quarterly fee payment. For March, the Water Department has a net loss, as expected this time of year, of ($76,855), which is less than the budgeted loss of ($83,879), and slightly more than the ($75,212) loss last year. The year to date net loss is ($234,952), which is less than the year to date budgeted loss of ($247,887), and behind the prior year to date net loss of ($208,999). Performance of the Water Department and related financials will also best be evaluated after the summer months, and keep in mind that the year-end budget is a net loss of ($198,180).