2.3. ERMUSR 03-15-2016 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE (From Statement of Revenues, Expenses and Changes in Net Position) January 2016 Electric P&L January's electric kwh sales are up from the prior year, 9.3%. For further breakdown: • Residential usage is up 10.3% • Small Commercial usage is up 3.8% • Large Commercial usage is up 9.6% January Operating Revenue is increased 8%over the prior year, which was expected as we have approximately 800 more customers this year with the acquisition. We are slightly under the budgeted amount by 3.6%,with the greatest difference in the residential projections. Other Revenue is down 12%, from the prior year, with most items consistent to the prior year. The greatest difference here is Miscellaneous Revenue, as we don't have the January MISO revenue yet. We won't accrue it"back" for January when it is received since January statements have been presented,but will true it up at year end. Overall, Total Revenues of$2,779,229 are above the prior year by 6.3%, and slightly behind budget by 3.8%. Purchased Power of$2,019,038 is ahead of budget by 1%, and over the prior year by 14%, due to the increased customer baseload. For other expenses, in total they are over the prior year by 3.6% and under budget by 4.5%. The greatest differences are Operating Expense which differs because of the manager distributions not posting properly in 2015 for the first several months; Distribution Expense which differs because of fall protection purchased last year; and Administrative &General Expense which differs due to increased participation in the HSA health insurance option and the timing of CIP rebates. For January 2016, the Electric Department has a Net Profit of$25,929 which is ahead of our budget of$13,572, and behind the prior year Net Profit of$132,527. 31