2.3. ERMUSR 01-08-2013 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE November 2012 Electric P&L November Operating Revenue of$2,182,873 is up from budgeted numbers by 3% and up from the prior year by 7%. Overall usage is up 6.25% from the prior year. Within the revenue categories: Residential usage is increased 4.5%, Small Commercial usage is increased 25%, and Large Commercial usage is increased 4.6% from the prior year. Other Operating Revenue is up 14%, largely due to the receipt of connection fees with the upgrade of a chiller at the Sherburne County Government Center. As stated before, Connect Fees are highly variable. This year Connect Fees are ahead of budget and the prior year's year-to-date amount approximately $100,000. Security continues to perform well, and the Landfill project is performing better than budget and the prior year. Purchased Power of$1,315,766 is increased over last year by 1.1%, yet is under budgeted numbers this month by 4.2%. For other expenses, Security and Landfill expenses are decreased from the prior year and budget numbers. Distribution Expense is increased with the purchase of clothing and safety items purchased, and Maintenance Expense reflects the refurbishment of some J-boxes and a substation inspection. Customer Accounts expense continues to be over the prior year but within budget numbers. Other remaining expenses are in line with the prior year and budgeted numbers. For November the Electric Department has a Net Profit of$415,370 compared to last year's Net Profit of$258,546, and ahead of the prior year-to-date profit amount by $913,167. Water P&L Water Operating Revenues are up from last year by 25%, and up from budget by 16.5%. In the various revenue categories, Residential usage is up 4.2% and Commercial usage is up 28%. Other Revenue is up this month from last year by 25%, due to six new connections in the Connect Fees category. As stated above, Connect Fees are highly variable. Total Revenue for October is up from the prior year by 25% and budget by 17%, and is ahead of the year-to-date total by 18.6%. Production expense shows a credit this month due to a billing to Sprint for recouping costs of a water tower inspection. Total Expenses for November are increased over budget 5%, and the prior year by 3%. This month reflects clothing purchases and chemicals that did not occur this same month last year. For November, the Water Department has a Net Loss of($5,304) compared to last year's Net Loss of($58,716) and is ahead of the prior year to date Net Profit by $287,501.