2.3. ERMUSR 02-12-2013 - Laserfiche WebLink

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Water For 2012, water sales ended up being over budget and the prior year, reversing a three year negative trend. The numbers are up from budget by 15.5% and up from the prior year 23%. The weather was the impact this year(as noted also in the electric department.) Other Revenues are consistent with the prior year, with the exception of Miscellaneous Revenues. There was a Contributed Capital item last year that results in a decrease of$317,000 from the prior year. Total revenue surpasses the prior year and budget due to the strong summer sales. This year, expense categories came in over budget, and many are above the prior year as well. In retrospect, many budget items were estimated too low and so the financials present a larger discrepancy than they should. Depreciation Expense is higher than the previous year with the water tower project and the well project added last year. Customer Accounts Expense is higher here too with the customer service enhancements implemented. Total expenses are over budget by 7%, and up from the prior year by 7%. Overall, the water department ended the year significantly ahead of budget and very close to the prior year. The difference this year is the water sales contributing to the bottom line, whereas last year it was contributed capital that impacted the bottom line. We do have more accruals for audit items, as mentioned above, and so there will be some reduction to these numbers as the final year end statements are produced. From a cash perspective, we increased $636,594 from the previous year, which is $425,182 more than forecasted, again due to strong summer sales.