2.3. ERMUSR 10-13-15 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE August 2015 Electric P&L August's electric kwh sales (for July usage) are up from the prior year by 6%overall: • Residential usage is up 10.8% • Small Commercial usage is up 9% • Large Commercial usage is up 3% from the prior year. August Operating Revenue is up from the prior year by 9.4%for the month,up slightly at .86%for year-to-date numbers, and over year-to-date budgeted numbers by 1.8%. August 2014 had a PCA charge to customers of$26,000, impacting the revenue in August 2014 by less than 1%at .87%. Other Revenue is above the prior year by 8.5% for August. Connection Fees are a small component this month at$24,375,but last year was even smaller at$11,150. Miscellaneous Revenue was significantly more in 2014 due to a gain of$18,000 recognized on the trade-in of our bucket truck, and 2015 does not have an August MISO payment(it was paid in September this year.) Overall, Total Revenues of$3,453,830 are above the prior year$3,184,018 by 8.5%, year-to-date revenues are ahead .63%, and budgeted numbers are increased 1.7%. Purchased Power is up from the prior year 3.7%, consistent with the increased usage. Year-to-date the difference in costs for purchased power are 5.6% less than the prior year due to PCAs in 2014. For other expenses, there is much consistency from the prior year. Customer Accounts Expense is inconsistent as it continues to be larger than last year due to the NISC software costs. Administrative and General Expenses are inconsistent from the prior year for a couple of reasons: increased approximately$25,000 for supplies and labor with the Anniversary celebration(as budgeted), increased$22,000 for medical premiums of 8 new employees hired in May 2015 (billed in arrears for June and July- so a timing difference but a budgeted expense), and increased$25,000 for consulting fees with our MISO reporting(again, a timing difference but a budgeted expense.) Total expenses were$3,179,074, over the previous year for August by 5.3%and under year-to-date numbers by 2.7%. The Electric Department has a Net Profit of$142,816, compared to the prior year Net Profit of$37,160. Year-to-date there is a Net Profit of$1,355,141, compared to the prior year Net Profit of$698,403. 34