2.3. ERMUSR 06-12-2012 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE April 2012 Electric P&L April Operating Revenue of$2,093,925 is down slightly from budgeted numbers by 2%and up from the prior year by 1.6%. Within the revenue categories,Residential and Small Commercial usage is decreased 14%and 12%,respectively, and the revenue is decreased 6% and 5%, respectively. Large Commercial usage is increased 20%from the prior year, and the revenue increase is 14%. Other Operating Revenue is up 20%, and includes a$10,964 distribution from stock we had at Principal. (If you will recall, we had been contacted by Keane agency to claim some assets while they were working with Principal to locate the owners of record. In this process, it was discovered that Principal had gone through a de-mutualization and had issued stock. We had our dental and life insurance with Principal prior to 2001 and therefore benefitted from this de-mutualization with a stock option.) Year to date total Revenue is over the prior year by$455,776 or 5%. Purchased Power of$1,374,233 is slightly under budgeted numbers by 5%and over last year by .5%. There was a PCA the prior year of approximately$60,000,and this year is was $37,000. For other expenses, most items are consistent with prior year and there is an overall decrease of 13%. There were three pay periods in April of 2011, and only two in April of 2012, which accounts for the decrease in Distribution,Maintenance, and Administrative and General Expenses compared to the prior year. For April, the Electric Department has a Net Profit of$272,091 compared to last year's Net Profit of$123,068, and is ahead of the prior year to date by$312,376. Water P&L Water Operating Revenues and usage are consistent with last year,however slightly under budget by 5%. We pumped 15 million gallons of water more than last year,however,we sold approximately the same quantity. The increased pumping was related by the hydrant flushing activity. Other Revenue is up again this month from last year. The Connect Fees have approximately $3,000 more activity this year than the prior year. Miscellaneous Revenue is increased from the additional water tower lease this year,and$2,600 for the Water Department's share of the stock distribution, as mentioned above. Total Expenses are decreased slightly compared year to year due to the differences in pay periods, with three in April of 2011 and only two in April of 2012, as mentioned above. Production Expense is increased over last year with the share of the sign purchased for the building included of$809(general activity in this account is very small). For April,the Water Department has a Net Loss (which is expected this time of year)of ($54,948)compared to last year's Net Loss of($95,107), and is slightly ahead of the prior year to date by$11,187.