Laserfiche WebLink
PROFIT AND LOSS NARRATIVE <br /> December 2016 <br /> Electric P&L <br /> December's electric kwh sales (from November consumption) are up from the prior year, <br /> 7%. For further breakdown: <br /> • Residential usage is up 7% <br /> • Small Commercial usage is up 5% <br /> • Large Commercial usage is up 6% <br /> Electric Operating Revenue for December was $2,475,783, less than 1%below budget <br /> and 10%over the previous year. YTD Revenues still lag the YTD budget by 5.1%. You <br /> will recall that we have been accruing the demand credit in a pro-forma presentation for <br /> the past several months and for audit purposes,we need to reverse that to show the actual <br /> YTD revenue and actual YTD Net Profit. This month we have the pro-froma reversal for <br /> the annual amount of the demand credit adjustment of($816,528)that reduces December <br /> revenue to $1,659,255. (We had budgeted for a$1 million demand credit adjustment.) <br /> Other Revenue Total is increased over the prior YTD by 19%and increased 32%over <br /> budget YTD, due to increased Connection Fees and the Security sale. <br /> Overall, Total Revenues of$1,825,627 are below prior year by 25.2%, and YTD ahead <br /> by 6.8%, however under YTD budget by 3.2%. <br /> Purchased Power of$2,019,351 is more than the prior year by 11.9%, and above the <br /> budget by 10.6%. Our YTD costs are under YTD budget now by 4.5%. <br /> Administrative Expenses are $382,025, 8%more than the prior year, and YTD 12.3% <br /> higher than the prior year. Increase over the prior year is most notably in the medical and <br /> dental insurances at$101,470 more than the prior YTD or 21%; and bond issuance costs <br /> including consulting costs at$71,734 more than the prior YTD and fees of$108,195 <br /> more than the prior YTD. The bond issuance costs were significant; however,they are <br /> not recurring annual items. <br /> General Expenses are $-22,741, 402% less than the prior year, and YTD 6%higher than <br /> the prior year. General Expenses are currently under budget by 45%YTD. It is a <br /> negative number due to the rebate reimbursements received from GRE of approximately <br /> $41,000 that offset the expenses. <br /> For expenses, in total they are more than the prior year by 7%,but are under YTD budget <br /> by 6%. <br /> 26 <br />