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PROFIT AND LOSS NARRATIVE <br /> December 2015 <br /> December's financials presented here are preliminary, given audit adjustments are still <br /> in process. We do have the majority of the year end journal entries completed, however, <br /> our audit is scheduled for February 25`h and 26th and so final pre-audit statements will <br /> not be ready for another two weeks. <br /> Electric P&L <br /> December's electric kwh sales are up 5.6% overall from the prior year. For further <br /> breakdown: .d, <br /> • Residential usage is down 1.6% <br /> • Small Commercial usage is up .2% <br /> • Large Commercial usage is up 9.7% <br /> Annual usage is up 2.7% from the prior year. <br /> Actual December Operating Revenue is up froth ', . , year 6%, however the prior <br /> year amount presented includes the $500,000 of the As absorbed and so there is a <br /> larger variance when comparing the current and mor 7,- s. The last line item included in <br /> Operating Revenue is typically only the AC Creditor for the year, which were ($57,270) <br /> for 2015 and($55,260) for 2014 year,wended the year with a total accumulated <br /> PCA credit of$514,905,which wes�tothe customers. With December's higher <br /> usage we actually gave back at telal accumulated PCA credits of$538,308, or$23,403 <br /> more than we were credited from our power provider. Total Operating Revenue for the <br /> year surpassed budget by 1%. <br /> Other Revenue has some diff' s from the prior year. Interest/Dividend income <br /> includes year end market adjustments, reflecting accrued losses and so shows as a <br /> negative a ••—1x that is co stent with last year. The prior year had a large positive <br /> number ®4"4• because o e interest refunded to us with our sales tax audit refund <br /> paym -Han4,s Revenue in 2014 includes a$72,000 payment for the Brookings <br /> pr t N. <br /> prior expenses that is non-recurring,however, there should be a revenue <br /> payment4f approximately$40,000 related to the Brookings project for 2015 that is yet to <br /> come in and has not been accrued. Total Other Revenue is at this time $165,900, <br /> compared to$236,053 from the prior year, surpassing the annual budget by 3.6%. <br /> Overall, Total Annual Revenues are above the prior year by 3.7%, and above budget by <br /> 1%. <br /> Purchased Power ended the year at just under budget by 2.4%, and just over the prior <br /> year by less than 1%. <br /> 28 <br />