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PROFIT AND LOSS NARRATIVE <br /> July 2014 <br /> The financials this month look different as they are the output of our new software. <br /> There are four columns for the current year, and four columns for the prior year. These <br /> four columns are the current month's activity, the year-to-date activity, the year-to-date <br /> budget activity, and a%variance from the year-to-date actual and year-to-date budget <br /> activity. As before, we have a summary statement for each department and detail <br /> statements as well. This month we do not have the cash flow statements but those will be <br /> presented in future months. <br /> Electric P&L <br /> • July's electric kwh sales (for June usage) are up 2.9%overall from the prior year: <br /> Residential usage is up 1.3% <br /> • Small Commercial usage is up 3% <br /> • Large Commercial usage is up 3.5% <br /> July Operating Revenue of$2,741,123 is over the prior year by 6%, and ytd is over <br /> budgeted numbers by 3%. <br /> The July Operating Revenue includes $46,277 in PCAs (2 mils) collected(year-to-date <br /> we have collected$307,596 in PCAs (14 mils)). Remember that the financials are <br /> reflecting the transfer from reserves of$500,000 to offset the PCAs that we are <br /> absorbing. This is shown, on a pro-forma basis, as a transfer to Revenue and distribution <br /> from Equity, to represent in the financials the reserve allocation that normally occurs at <br /> the end of the year. <br /> • Other Operating Revenue is up 2% from the prior year, and up 10%from the <br /> year-to-date budget numbers. <br /> • The Landfill Project Revenue is up as we invoiced the Landfill for$7,000 in <br /> penalties due to the underperformance in 2013,per our contract. <br /> • The remaining components of Other Revenue are, in total, consistent with the <br /> prior year, although some are up and some are down. <br /> Overall, Total Revenues are ahead of the prior year by 6%, and year to date are ahead of <br /> budget by 3.5%. <br /> The total purchased power cost of$2,162,758 is down from last year 4%. The PCA <br /> included this month is $22,662, for a year-to-date accumulated PCA of$802,307. As <br /> mentioned above, we charged our customers a PCA of 2 mils in July. We will also be <br /> charging a PCA of 1 mil in August. <br /> 1 <br />