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PROFIT AND LOSS NARRATIVE <br /> July 2015 <br /> Electric P&L <br /> July's electric kwh sales (for June usage) are up from the prior year by 4.7%overall: <br /> • Residential usage is up 9.8% <br /> • Small Commercial usage is up 8.6% <br /> • Large Commercial usage is up 1.8% from the prior year. <br /> July Operating Revenue is consistent with the prior year,up by 5.3% for the month, down <br /> .62% for year-to-date numbers, and over year-to-date budgeted numbers by 1.8%. July <br /> 2014 had a PCA charge to customers of$46,000, impacting the revenue in July 2014 by <br /> 1.68%. <br /> Other Revenue is above the prior year by 18% for July. Connection Fees are increased <br /> 230%. Miscellaneous Revenue includes $2,500 we received as a donation from Waste <br /> Management for our Anniversary Celebration, $2,900 from CMMPA for our Brookings <br /> investment, and scrap metals recovery of$2,000. <br /> Overall, Total Revenues of$3,089,512 are above the prior year$2,912,922 by 6%, while <br /> year-to-date revenues are behind .72%, and budgeted numbers are increased 1.65%. <br /> Purchased Power is up from the prior year 5.17%, consistent with the increased usage. <br /> Year-to-date the difference in costs for purchased power are 7.37%less than the prior <br /> year due to PCAs in 2014. <br /> For other expenses, Operating and Maintenance Expense is increased 43%related to <br /> increased labor costs for the building maintenance focus in preparation for the 100`h <br /> Anniversary. Maintenance Expense is increased 15%, largely due to the underground <br /> placement at Hillside. Interest Expense is increased from the interest on the bond <br /> payment to the City for our building that occurred this month. Customer Accounts <br /> Expense continues to be larger than last year due to the NISC software costs. <br /> Administrative and General Expenses are also due to increased labor costs compared to <br /> the prior year as a result of adding staff and filling vacant positions, and again this month <br /> we have timing differences related to CIP refunds. <br /> Total expenses were $2,882,379, over the previous year for July by 6.5%and under year- <br /> to-date numbers by 4%. <br /> The Electric Department has a Net Profit of$82,932, compared to the prior year Net <br /> Profit of$88,554. Year-to-date there is a Net Profit of$1,196,675, compared to the prior <br /> year Net Profit of$661,243. <br /> 27 <br />