2.3 ERMU 01-12-2016 - Laserfiche WebLink

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For November,the Electric Department has a Net Profit of$220,637 compared to the prior year profit of$462,213. Year-to-date we are at a net income of$2,337,902, which is well ahead of year-to-date budget of$870,577, and prior year-to-date net income of $1,699,811. Water P&L Usage in November is up by 8% from the prior year overall: • Residential use is up 7.7% • Commercial use is up 8.2% Water Operating Revenues for November are ahead of the prior year by 6%. Year-to-date revenues are increased by 1.6% from the prior year,however,behind year-to-date budget revenues by 4%. Other Revenues of$60,797 are behind the prior year 63.5%,because November 2014 had $140,000 in Connection Fees, compared to $39,000 in 2015. Total Revenues for November of$236,188 are behind the prior year by 29% (again, Connection Fees are the delta impact),behind the prior year-to-date by 2%,but ahead of year-to-date budget by 5%. Expenses are over the prior year by 16%, under year-to-date by 1.7%, and under year-to- date budget 2.3%. • Depreciation is increased over the prior year. Additionally, there was a $2,500 loss on disposition of inventory in 2015. • Administrative&General Expense is increased due a timing difference in the quarterly connection fees payable to the MN Dept of Health. In 2014 this was paid in October and in 2015 this was paid in November for$7,600. For November,the Water Department has a net profit of$29,804, compared to last year's net profit of$151,284. Year-to-date,the Water Department has a net profit of$228,681 net profit of 94 829. and is ahead of the year-to-date budgeted e $ , g 36