31.1C. ERMUSR 06-14-2011 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE Apri12011 Electric P&L April's Operating Revenue is up 13.5% from the prior year, and over budgeted numbers by 4%. Within the Operating Revenue category, Residential usage is up 13%, Small and Large Commercial usage are both up 18%. Other Operating Revenue is slightly below budgeted numbers, and the prior year. The Interest Income continues to post higher returns with the sweep account in place. Connect Fees are down but other items are very consistent as compared to the prior year and in line with budgeted numbers. Purchased Power is up from the prior year by 6% and under budget by 8%. For other expenses, Maintenance Expenses are over the budgeted and prior year numbers with this month's maintenance focus on underground distribution and substations. This month Landfill Gas is very consistent with the budgeted and prior year numbers. However, as mentioned before, there is additional expense accrued for maintenance that is being recognized throughout the year and there will be a consistent disparity when comparing year to year. Other Operating Expenses are in line with budget and the prior year numbers. For April, the Electric Department has a net profit of $123,068 which is ahead of the prior year and budget. The year to date net loss is ($8,173), and is also ahead of the prior year to date net loss of ($64,364). Water P&L Water Operating Revenue is up 6% from the prior year, and over budgeted numbers by 17%. The pumping is down this year, from 59.2 million gallons (MG) in 2010 to 37.7 MG in 2011, however we sold 1.5 MG more. Other Revenue is also up from the prior year with Investment Income up (as discussed above) and the Water Tower Lease Revenue in place. Expenses are slightly less but very consistent with the prior year, and yet are increased over the budgeted amounts due to the processing of three payrolls in the month of April. For April, the Water Department has a net loss, as expected this time of year, of ($70,107), which is less than the budgeted loss of ($74,405), and less than the ($107,593) loss last year. The year to date net loss is ($305,191), which is slightly behind prior year to date net loss of ($291,592).