2.3 ERMUSR 09-11-2012 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE July 2012 Electric P&L July Operating Revenue of $2,832,795 is up from budgeted numbers by 10% and up from the prior year by 11%. Within the revenue categories, Residential usage is increased 6%, Small Commercial usage is increased 5.5%, and Large Commercial usage is increased 7% from the prior year. Other Operating Revenue is up 22% with Connection Fees up again this month, as well as income from Otsego street lights installed, and the peaking plant revenue (last year this was received in September). Purchased Power of $2,264,973 is actually under budgeted numbers by 5%, and over last year by only .4%. Budget numbers were conservatively high with much higher PCAs anticipated. There was a PCA the prior year of approximately $40,000, and this year was $16,000. For other expenses, most items are consistent with prior year. Maintenance Expense is down from the prior year with the major impact last year's focus on changing out meters. For July, the Electric Department has a Net Profit of $117,520 compared to last year's Net Loss of ($197,532), and is ahead of the prior year to date amount by $667,856. Water P&L Water Operating Revenues are up from last year by 13%, and up from budget by 6%. In the various revenue categories, Residential usage is up 15% and Commercial usage is up 10%. Other Revenue is down this month from last year due to lower Connect Fees. Year to date Connect Fees are only 7% behind the prior year, however still ahead of budget by 144%. Total Revenue is 11 % ahead of last year for the month of July. Total Expenses are comparable to last year. All expenses are consistent with the prior year except Pumping Expense is higher and Administrative & General Expense is lower. Pumping Expense is higher due to the purchase of a mag meter for well #9. For July, the Water Department has a Net Profit of $124,718 compared to last year's Net Profit of $68,654, and is ahead of the prior year to date Net Loss by $49,238.