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PROFIT AND LOSS NARRATIVE <br /> October 2016 <br /> Electric P&L <br /> October's electric kwh sales (from September consumption) are up from the prior year, <br /> 4%. For further breakdown: <br /> • Residential usage is up 2% <br /> • Small Commercial usage is up 4% <br /> • Large Commercial usage is up 5% <br /> October Operating Revenue of$3,020,350 again includes a pro-forma adjustment to <br /> show the demand adjustment credit being funded through reserves, this month it is <br /> $80,004 (year-to-date the amount of the demand adjustment credit is $740,972). Without <br /> the pro-forma adjustment, the October Operating Revenue is $2,940,346 which is <br /> increased 1% over the prior year, and is 5% ahead of prior YTD. October's revenues <br /> were 7.8% short of budget. Revenues are ahead of the previous year; however, they still <br /> lag the YTD budget by 3.3%. <br /> Other Revenue Total is increased over the prior YTD by 31% and increased 37% over <br /> budget YTD, due to increased Connection Fees and the Security sale. <br /> Overall, Total Revenues of$3,262,440 are above the prior year by 4.7%, and YTD ahead <br /> by 9%, however under YTD budget 1%. <br /> Purchased Power of$1,664,753 is less than the prior year by 6.7%, and under the budget <br /> by 19%. Our YTD costs are under YTD budget now by 6%. <br /> Administrative and General Expenses are $236,283, 26.5% more than the prior year, and <br /> YTD 13% higher than the prior year. Prior year increase is most notably in the medical <br /> and dental insurances at $76,463 more than the prior YTD or 19%, and bond issuance <br /> costs (including consulting costs at$71,734 more than the prior YTD and fees of <br /> $107,855 more than the prior YTD.) The bond issuance costs were significant; however, <br /> they are not recurring annual items. <br /> For expenses, in total they are under the prior year by 5% and under YTD budget by 7%. <br /> For October 2016, the Electric Department has a Net Profit of$882,454 and YTD Net <br /> Profit of$2,882,097. This is ahead of the budget of$1,232,548, as well as over the prior <br /> year monthly Net Profit of$604,273, and over prior YTD Net Profit of$2,117,265. <br /> 99 <br />