2.3. ERMUSR 12-17-2013 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE October 2013 Electric P&L Year to date the electric department is well ahead of budget, $1,574,254 versus the budgeted amount of$394,830. Current projections indicate we would finish the year at over 200%of budget. For the month of October,Operating Revenue was ahead of the prior year 22%,and ahead of budget 19%. Year to date, Operating Revenue is ahead of the prior year 2%. Other Revenue was 18%lower than the prior year, largely due to receipt of capital equipment refunds of over$40,000 in 2012. Purchased Power of$1,659,604 is increased over the prior year by 11%and is a 5% increase over the budgeted amount. The margin increased significantly this month, from 12% last month to 39%this month with the implementation of the fall billing rates from our power provider. Landfill Gas expenses are increased over the prior year and the budget as three engines are in need of replacement and are starting to lose significant efficiency. (These three engines are being replaced in December 2013 at a cost of approximately$200,000 per engine. The monthly expenses should taper back then as the engines operate efficiently again.) Customer Accounts Expense is increased among all components: meter reading, disconnects,billing,and bad debt expense(the prior year had approximately$1,800 that was collected on accounts previously written off which reduced the expense in the prior year.)General and Administrative Expense is increased 6%over the prior year due to timing of CIP rebates and planned addition of staff,and yet is 15%below budget. For October, the Electric Department has a Net Profit of$561,929 and a year to date Net Profit of $1,574,254,compared to the prior year Net Profit of$327,420 and year to date Net Profit of $1,622,579. Water P&L Year to date the water department is 400%ahead of the budgeted numbers and current projections indicate we would finish the year at over 200%ahead of budget. For Operating Revenue, we are 25%ahead of budget and 15%ahead of the prior year. Other Revenue is 174%ahead of budget and 114%ahead of the prior year. This increase is impacted by Connection Fees again this month. Other expenses are in line with budget,and the prior year. Production Expense is down from the prior year due to roof repairs of approximately$10,000 in 2012. General and Administrative Expense is increased over the prior year as mentioned above with planned addition of staff,and yet is 13%below budget. For October,the Water Department has a net profit of$165,211 and a year to date Net Profit of $421,202,ahead of the budgeted year-end loss of($140,337). 20