5.1 ERMUSR 03-13-2018 - Laserfiche WebLink

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General Expenses of$16,006 are 101%more than the prior year, and are 16%above budget. The main driver causing the variance to prior year is the new CIP labor allocations. For expenses, in total they are 8%more than the prior year, and are at the budgeted amount. For January 2018,the Electric Department has a Net Loss of$292,305 (a loss was anticipated for January). This is more than the budgeted Net Loss of$106,154, and behind prior year Net Profit of$4,765. Water P&L January gallons of water sold(from December's usage) are down 24%from the prior year. For further breakdown: • Residential use is down 18% • Commercial use is down 30% Water Operating Revenues for January of$107,370 are behind last year by 12%and below budget by 10%. As mentioned above,the billing cycle change resulted in a difference when comparing revenue year to year. Less revenue was billed in January 2018 compared to 2017. Other Revenues of$28,084 are behind the prior year by 47% and below budget by 11%. The main driver causing the prior year variance is connection fees. Overall, Total Revenues of$135,455 are behind the prior year by 22% and are below budget by 10%. Expenses are ahead of the prior year by 7%,but are below budget by 5%. Distribution Expense is increased for maintenance of water mains. For January 2018, the Water Department has a Net Loss of$110,252 (this is typical for the water department this time of year), however behind last year's Net Loss of$55,505 and slightly below the budgeted Net Loss of$106,578. ATTACHMENTS: • Balance Sheet 1.2018 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 1.2018 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 1.2018 • Graphs Prior Year and YTD 2018 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 1.2018 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 1.2018 Page 2 of 2 181