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PROFIT AND LOSS NARRATIVE <br /> June 2016 <br /> Electric P&L <br /> June's electric kwh sales (from May consumption) are up from the prior year, 8%. For <br /> further breakdown: <br /> • Residential usage is up 14% <br /> • Small Commercial usage is down 6% <br /> • Large Commercial usage is up 9% <br /> June Operating Revenue of$2,775,130 is increased 7% over the prior year, and is 5% <br /> ahead prior YTD. While revenues are ahead of the previous year, they lag the YTD <br /> budget by 6%, and have consistently this year. Even though we tried to budget <br /> conservatively for the new territory, it appears that it wasn't conservative enough. We <br /> will be monitoring closely how we fare through the next three summer months of usage. <br /> Other Revenue is up 10%, from the prior year. Connection Fees are more than double the <br /> prior year, and Security is up 35%over last year. <br /> Overall, Total Revenues of$2,933,515 are above the prior year by 7%, and YTD ahead <br /> by 5%, however under budget by 5%. <br /> Purchased Power of$2,475,751 is greater than the prior year by 55%. Our YTD costs are <br /> slightly over YTD budget now by .5%. Previously this year,the projected revenues and <br /> purchased power have been under budget,however contributing positively to the bottom <br /> line. This month the margin is compressed too tight. Operating Revenues of$2,775,130 <br /> leave a margin of only $299,379. Again, the summer months ahead will be monitored <br /> very closely, and hopefully the margins widen. <br /> For other expenses, in total they are over the prior year by 3%yet still under YTD budget <br /> by 12%. The increases are in the insurances, vacation pay, and the annual matching <br /> contribution to the deferred comp plans. We still have some landfill expenses that are <br /> expected with the repair of engine#4. <br /> For June 2016,the Electric Department has a Net Loss of($331,067) and a YTD Net <br /> Profit of$301,256, both under the prior year, and now behind YTD Budget Net Profit of <br /> $657,247. It is still very possible to make up this deficit and meet budget by year end, <br /> with the next few months being very crucial. <br /> 29 <br />