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PROFIT AND LOSS NARRATIVE <br /> November 2015 <br /> Electric P&L <br /> November's electric kwh sales(for October usage) are up overall by 7% from the prior <br /> year. For further breakdown: <br /> • Residential usage is up 6% <br /> • Small Commercial usage is down 3% <br /> • Large Commercial usage is up 8% <br /> November Operating Revenue of$2,207,744 is down from the prior year by 3%, year-to- <br /> date is up 2%, and year-to-date budgeted numbers are up slightly by .7%. While usage <br /> was up, the revenue is decreased due to the PCA credit given(discussed below). <br /> We gave a PCA credit to customers in November of approximately$236,000 (10 mils), <br /> just as we did in October. In December we gave a credit of 3 mils, approximately <br /> $66,000, for an approximate grand total of$538,000 given back- all in the fourth quarter. <br /> (Revenue for 2014 YTD November included the $500,000 adjustment for PCA absorbed <br /> by ERMU last year. This was trued-up in December 2014, so we will see this in the <br /> December financials.) <br /> Other Revenue is much higher than the prior year and the year-to-date budgeted amount. <br /> The impact is in the"Misc Revenue"category because of the approximate $92,000 <br /> received from our Capital Equipment Sales Tax refund. This is the last year we should <br /> have this large of an amount for this type of revenue since the capital equipment sales tax <br /> exemption is now recognized upon purchase, instead of having to apply for <br /> reimbursement in a subsequent year. <br /> Overall, Total Revenues are over the prior year by 1%, and increased 2%year to date, <br /> and are ahead of budget by just under 1%. <br /> The total purchased power cost of$1,547,086 is up from last year 10.5%, consistent with <br /> higher usage noted above. <br /> For other expenses, they are up from the prior year by 12%: <br /> • Distribution Expense includes approximately$7,000 over last year related to fall <br /> protection items purchased. <br /> • Customer Accounts Expense is increased with the NISC software costs. <br /> • Administrative &General Expense is increased from the prior year because of a <br /> $10,000 payment to MMUA for help with costs of the 2016 Lineworker Rodeo. <br /> 35 <br />