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5.1 ERMUSR 05-09-2017
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5.1 ERMUSR 05-09-2017
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City Government
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General Expenses are $10,719, 34% less than the prior year, and are 44% under budget YTD. <br /> The main driver causing the variance to prior YTD is labor. <br /> For expenses, in total they are 7% more than the prior year, and are above prior YTD by 5%but <br /> under budget YTD by 3%. <br /> For March 2017, the Electric Department has a Net Loss of$186,374 and YTD Net Loss of <br /> $13,128. This is ahead of the budgeted Net Loss of$196,978, while lagging prior year monthly <br /> Net Profit of$114,956, and prior YTD Net Profit of$155,071. <br /> Water P&L <br /> March gallons of water sold (from February's usage) is down 10% from the prior year. For <br /> further breakdown: <br /> • Residential use down 5% <br /> • Commercial use down 14% <br /> Water Operating Revenues for March of$111,167 are down from last year by 5% and behind <br /> budget by 7%. <br /> Other Revenues of$130,423 are up from the prior year by 150%, and ahead of prior YTD by <br /> 25%. Revenues are also ahead of YTD budget by 159%. The main driver causing the prior YTD <br /> variance is Developer Contribution of$55,882. This was for water main installed by the <br /> developer in Prestigious Woodland Hills 3`d addition, and we need to include the asset on our <br /> financials. When we recognize these developer contributed assets, the offset is a revenue <br /> account. Typically we receive one or two of these at the end of the year, not usually mid-year. <br /> Overall, Total Revenues of$241,590 are ahead the prior year by 42%, and ahead of prior YTD <br /> by 8%. As previously stated Developer Contribution being the driving force. YTD Total <br /> Revenues are ahead of budget by 29%. <br /> Expenses are above the prior year by 12%, but are under YTD budget by 10%. <br /> For March 2017, the Water Department has a Net Profit of$22,402, which is ahead of last year's <br /> Net Loss of$25,948. March YTD Net Loss is $73,588 which is ahead of the prior YTD Net <br /> Loss of$99,637, and is significantly ahead of the budgeted YTD Net Loss of$274,015. <br /> ATTACHMENTS: <br /> • Balance Sheet 3.2017 <br /> • Electric Statement of Revenues, Expenses and Changes in Net Position—Summary and <br /> Detailed 3.2017 <br /> • Water Statement of Revenues, Expenses and Changes in Net Position— Summary and <br /> Detailed 3.2017 <br /> • Graphs Prior Year and YTD 2017 <br /> Page 2 of 2 <br /> 99 <br />
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