3.3. ERMUSR FINANCIALS 05-08-2012

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PROFIT AND LOSS NARRATIVE March 2012 Electric P&L March Operating Revenue of $2,164,822 is up from budgeted numbers by 13% and up from the prior year I S%. Within the revenue categories, Residential and Small Commercial usage is down slightly, however the revenue reflects the rate increase and is up 6%. Large Commercial usage is increased 10% from the prior year, reflecting the rates increase revenue is up 18%. United Health Group data center is now on the dispersed generation program and is tracking with the budget. Other Operating Revenue is up slightly and the Landfill Gas plant's performance better than plan is [he major contributor. Year to date total Revenue is over the prior year by $393,939 or 6%. Purchased Power of $1,578,587 is slightly over budgeted numbers and over last year by 8%, reflecting the increased usage. There was a PCA of approximately $37,000 in 2012. For other expenses, there are varied increases and decreases compared to the prior yeaz with an overall increase of 8%. Landfill Gas Expense is down as the engines seem to be running better so the expense accrual is reduced this yeaz. Maintenance Expense is increased from the prior year 14% and increased from the budget 7%. Maintenance categories affected are overhead and underground services (including tree trimming) and Meter Maintenance (as we continue to change out meters for upgrading of the radio reading devices). Administrative and General Expense is increased over the prior yeaz and budget numbers, with Schools and Meetings expenditures the largest impact (due to mandated sexual harassment training for all staff, optional Long Term Caze group meetings, and the APPA Legislative Rally). For March, the Electric Department has a Net Loss of ($14,808) compared to last year's Net Loss of ($126,971), and is ahead of the prior year to date by $163,353. Water P&L Water Operating Revenues and usage aze consistent with last yeaz, however slightly under budget by 6%. We pumped 8 million gallons of water more than last year, and sold approximately 1.2 million more gallons. Other Revenue is up again this month from last year. The Connect Fees include a couple of residential customers and the Public Works facilities fees. Miscellaneous Revenue is increased from the water tower lease, as mentioned last month. Pumping Expense is consistent with the prior year-to-date number, however the current month expenditures are higher related to chemical and supply purchases. Distribution expense is increased related to the water main break and repair on School Street. Depreciation Expense is over the prior year as planned given the asset additions the prior yeaz. Customer Accounts Expense is increased over the prior year with the increased costs of online billing and afrerhours customer service support. Administrative and General Expense is consistent with the prior year and budget amounts. For March, the Water Department has a Net Loss (which is expected this time of year) of ($69,337) compared to last year's Net Loss of ($101,855), and is slightly behind the prior year to date by $3,972.