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is most notably due to medical and dental insurances,which is $83,654 more than the prior YTD <br /> or 20%. The increase in medical expense is largely driven by the increase in premium costs. <br /> General Expenses of$42,648 are 507%more than the prior year, but are 33%below budget <br /> YTD. The main driver causing the variance to prior is due to the timing of rebates as the prior <br /> YTD variance is 0%. <br /> For expenses, in total they are 15%more than the prior year, and are above prior YTD by 6%but <br /> are under budget YTD by 3%. <br /> For September 2017,the Electric Department has a Net Income of$726,935 and YTD Net <br /> Income of$875,082. This is less than the budgeted Net Income of$840,792 and behind the prior <br /> year monthly Net Income of$1,468,519, and is lagging prior YTD Net Income of$1,999,643, <br /> however, it is ahead of budgeted YTD Net Income of$129,611. ($409,260 represents net <br /> income in 2016 due to the security sale and security income generated in 2016.) <br /> Water P&L <br /> The Water Department also continues to be ahead of budgeted YTD Net Income. <br /> September gallons of water sold (from August's usage) are up 14%from the prior year. For <br /> further breakdown: <br /> • Residential use up 18% <br /> • Commercial use up 11% <br /> Water Operating Revenues for September of$305,256 are up from last year by 17%and above <br /> budget by 15%. Operating Revenue is 4%above prior YTD, and is 2%above YTD budget. <br /> Other Revenues of$88,521 are ahead of the prior year by 63%, and ahead of prior YTD by 92%. <br /> Revenues are also ahead of YTD budget by 270%. The main drivers causing the prior YTD <br /> variance are WAC Fees of$373,025 and Developer Contribution of$55,882. <br /> Overall, Total Revenues of$393,778 are ahead of the prior year by 25%, and are ahead of prior <br /> YTD by 24%. As previously stated WAC Fees and Developer Contribution are the driving <br /> force. YTD Total Revenues are ahead of budget by 38%. <br /> Expenses are above the prior year by 6%, but are under YTD budget by 9%. <br /> For September 2017,the Water Department has a Net Profit of$189,160, which is ahead of last <br /> year's Net Profit of$121,980. September YTD Net Profit is $762,606 which is ahead of the <br /> prior YTD Net Profit of$309,331, and is significantly ahead of the budgeted YTD Net Loss of <br /> $175,673. <br /> ATTACHMENTS: <br /> • Balance Sheet 9.2017 <br /> • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 9.2017 <br /> Page 2 of 3 <br /> 42 <br />