2.3. ERMUSR 04-09-2013 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE February 2013 Electric P&L February Operating Revenue of$2,361,679 is ahead of budgeted numbers by 17% and the prior year 16%. Within the revenue categories: Residential usage is down slightly (just under 2%), Small Commercial is up 7%, and the Large Commercial usage is up 8% from the prior year. The Dispersed Generation Credit is more than the prior year due to the second data center not being on the program early 2012. Other Operating Revenue is above the budgeted numbers 27% and above the prior year numbers 17%. This is due to Connection Fees in 2013 of approximately $16,000 compared to approximately $4,000 in 2012. Miscellaneous Revenue includes approximately $9,000 for scrapped transformers. Purchased Power of$1,662,304 is under budgeted numbers by 12%, and under last year 7%. The prior year had a PCA charge of$73,000 while the current year has a PCA credit of($87,000). For other expenses compared to the prior year: Landfill Expenses are down with a smaller accrual of expenses due to increased efficiency in the engine operations; Distribution Expense is down as goods testing expenses were incurred the prior year; Maintenance Expense is increased due to vehicle expenses being up; Security Expense is increased for purchases of marketing items for expos and new customers; and Services to the City are increased for donated electricity and the revenue transfers to the City. Admin and General Expense is increased over the prior year in legal, insurance, dues and salaries categories. Total expenses were $2,311,156, under budget by 10%, and under the previous year by 4%. For February, the Electric Department has a Net Income of$220,245, which is ahead of budget by $652,875, and ahead of the prior year by $460,108 (a loss was budgeted for February 2013 and incurred February 2012.) Water P&L Water Operating Revenues are ahead of last year by 15% at $102,733, and also ahead of budget, reflecting an increased usage. Other Revenue of$29,058 is up considerably from budget, 90%, and the prior year 20%. Connection Fees are the driver here. Expenses are under budget and less than the prior year, both by 10%. The differences are February 2012 had approximately $12,000 in emergency expenses related to a water main break, and timing of a permit fee (incurred in January 2013 versus February 2012.) For February, the Water Department has a net loss (which is expected this time of year) of($53,923), which is $54,625 ahead of budget ($108,548) and $38,804 ahead of last year ($92,727).