2.3 ERMU FINANCIALS 03-18-2014 - Laserfiche WebLink

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Water P&L 2014 started off well for the Water Department. Water Operating Revenues are ahead of last year by 16% at $104,159, and ahead of budget by 5%. Usage is down 4% for Residential, and up 12% for Commercial use. Other Revenue of $16,181 is up from budget and down from the prior year. Connection Fees are the driver here as last year there was approximately $12,000 collected compared to approximately $5,500 this year. Total Revenues of $124,715 are increased over the prior year by 11% and increased over the budget by 25%. Expenses are under budget by 7% and ahead of the prior year by 7.4%. Water Distribution Expense is down due to the timing of the water DNR permit paid in February this year versus January last year. Other Operating Expense is down $28,000 from the prior year and this is due to the meter purchased in 2013 that we were reimbursed for in a subsequent month. Administrative and General Expenses are increased as noted above in the Electric Department, mostly by the three pay periods, and also by the HSA contributions in January. Total Expenses were $218,792 compared to budget of $235,019 and the prior year of $236,190. For January, the Water Department has a net loss (which is expected this time of year) of ($94,077), which is $41,173 or 30% under budget of ($135,250), and $29,910 or 24% ahead of last year of ($123,987). 90