2.3. ERMUSR 10-08-2013 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE August 2013 Electric P&L Year to date we are ahead of budget by a significant amount. August Operating Revenue of$3,045,322 is behind budgeted numbers, and behind the prior year 2%. It was still a good month,just not quite as good as last year. Other Operating Revenue is in line with the budgeted numbers, yet behind the prior year numbers 10%. Interest income is up down this month. We had $15,000 in other revenue from scrapped transformers accounting for the huge increase in the Miscellaneous Revenue line item from the prior year. Purchased Power of$2,536,740 is just under the prior year and below budgeted numbers. The remaining expenses are consistent with the prior year expenses. Customer Accounts Expense is higher this year related to the August payment of sales and use tax. Administrative and General Expense is lower than it normally would be due to a health insurance correction adjustment for overbilling in prior months. For August, the Electric Department has a Net Loss of($12,459), which is ahead of budget by $58,478, but behind the prior year by $62,783 as August was an exceptionally good month last year. Water P&L Year to date we are now ahead of the budgeted numbers. Water Operating Revenues are ahead of last year by 16% at$377,381, and also ahead of budget by 21%. It was an exceptional month for water. The increase in water sales is directly related to the heat and dry conditions. Other Revenue of$89,322 is ahead of budget and the prior year due to Connection Fees. For expenses, the decrease in Production Expense is significantly below the prior year due to power washing the exterior of a water tower in 2012. Distribution Expenses are increased due to the maintenance of the hydrants done this year. Other expenses are in line with budget, and the prior year. For August, the Water Department has a net profit of$256,746, twice the budgeted amount and 65%ahead of last year. 18