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PROFIT AND LOSS NARRATIVE <br /> (From Statement of Revenues, Expenses and Changes in Net Position) <br /> January 2015 <br /> Electric P&L <br /> January's electric kwh sales are down from the prior year, 3.5%. For further breakdown: <br /> • Residential usage is down 9% <br /> • Small Commercial usage is down 2% <br /> • Large Commercial usage is down.45% <br /> January Operating Revenue is increased 14%over the prior year, however there was a <br /> PCA credit last year of$344,143 given to customers and so the comparison is skewed. <br /> Factoring out the PCA credit from the prior year,the Revenue is down.2%, which is <br /> more consistent with the decrease in kwh noted above. <br /> Other Revenue is up slightly, 2%, from the prior year, with most items consistent to the <br /> prior year. The exception is Landfill Gas Project(LFG),which is up 11%reflecting <br /> better performance of the engines after the overhauls. <br /> Overall, Total Revenues of$2,613,399 are above the prior year by 13.3%, and ahead of <br /> budget by 8.1%. <br /> Purchased Power of$1,764,495 is ahead of budget by 1.8%, and under the prior year by <br /> 5.4%. <br /> For other expenses, in total they are under the prior year by 5.1%and over budget by <br /> 4.8%. The biggest impact is Depreciation which is now reflecting actual numbers and so <br /> will grow each month as assets are added. Previously, this was a constant number for a <br /> monthly distribution of an annual estimate. <br /> For January 2015, the Electric Department has a Net Profit of$132,528 which is ahead of <br /> our budget of$85,680, and ahead of the prior year Net Loss of($289,848.) <br /> 28 <br />