2.3. ERMUSR 01-14-2014 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE November 2013 Electric P&L Year to date the electric department is well ahead of budget, at year to date net profit of $1,984,893 versus the budgeted amount of$394,830. Current projections indicate we would finish the year at around$1,800,000. For the month of November,Revenues were pretty consistent with 2012. Operating Revenue was ahead of the prior year 5%,and ahead of budget 3%. Year to date,Operating Revenue is ahead of • the prior year 3%. Other Revenue was 2%lower than the prior year with Interest and Dividend Income being down, and Miscellaneous Revenue being up due to recycling of scrap materials. Purchased Power of$1,408,299 is increased over the prior year by 7%but is only 1% increased over the budgeted amount. The margin remained higher this month,from 39%last month to 38% this month, compared to the low margins over the summer months. Landfill Gas expenses remain increased over the prior year and the budget,with the three engines in need of replacement and at low efficiency. (As mentioned last month,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.) Maintenance Expense is increased with the fuel usage billings from the City for August, September, and October of approximately$8,000 and filling of fuel tanks at the plant for approximately$5,000. Other Operating Expense is increased significantly over the prior year due to losses recognized on distribution of property. General and Administrative Expense is decreased 6%under the prior year due to timing of CIP rebates and dues payments. For November, the Electric Department has a Net Profit of$410,639 and a year to date Net Profit of$1,984,893,compared to the prior year Net Profit of$415,370 and year to date Net Profit of $2,037,949. Water P&L Year to date the water department is also well ahead of the budget,at year to date net profit of $419,575 versus the budgeted loss of($140,337). Current projections indicate we would finish the year at around$253,000. For Operating Revenue,we are 8%behind budget and 10%behind the prior year.Other Revenue is 10%ahead of budget and 2%ahead of the prior year. This increase is impacted by Connection Fees again this month. Expenses are in line with the prior year, and slightly under budget.Production Expense is increased over the prior year due to an offsetting invoice in 2012 to Sprint for expenses incurred. General and Administrative Expense is decreased from the prior year and is also below budget. For November, the Water Department has a net loss of$1,627 and a year to date Net Profit of $419,575,ahead of the budgeted year-end loss of($140,337). 15 •