2.3. ERMUSR 12-12-2012 - Laserfiche WebLink

Home Browse Search

PROFIT AND LOSS NARRATIVE October 2012 Electric P&L October Operating Revenue of$2,216,995 is down from budgeted numbers by 4% and down from the prior year by 6.5%. Overall usage is down 4% from the prior year. Within the revenue categories: Residential usage is decreased 21%, Small Commercial usage is decreased 6%, and Large Commercial usage is increased 4% from the prior year. Other Operating Revenue is up 40%, largely due to the receipt of capital equipment sales tax refund of$40,000 (which occurs every one to three years.) Security is performing well and has increased revenue. Connect Fees were received again this month and,while less than the prior year, they are year-to-date ahead of budget and the prior year's year-to-date amount. Connect Fees are highly variable month to month and year to year. Purchased Power of$1,490,510 is increased over last year by 1.9%,yet is under budgeted numbers this month by 3.5%. For other expenses, Security is increased- which is offset by the revenue increase noted above, Other Operating Expense is down due to a disposition loss occurring in 2011, and the remaining expenses are in line with the prior year and budgeted numbers. For September the Electric Department has a Net Profit of$327,520 compared to last year's Net Profit of$443,901, however ahead of the prior year-to-date profit amount by $756,444. Water P&L Water Operating Revenues are up from last year by 2.5%, and yet down from budget by 4%. In the various revenue categories, Residential usage is up 4%and Commercial usage is up 39%. Other Revenue is down this month from last year by 5%, as last year there were Connection Fees of three times this month's amount. Connection Fees are highly variable month to month and year to year. Total Revenue for October is down from the prior year and budget by 5%, however is ahead of the year-to-date total by 18%. Total Expenses are consistent compared to last year, and are actually decreased overall by 3.5%. Production expense is increased due to roof repairs at two of the well houses. Year-to-date the total expenses are increased overall by 4.8%, and in line with budget. For September, the Water Department has a Net Profit of$104,987 compared to last year's Net Profit of$89,772, and is ahead of the prior year to date Net Profit by $259,133.