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General Expenses of$26,043 are 33% more than the prior year, but are 42% below budget. YTD <br /> costs are more than the prior year by 37% but are less than budget by 48%. The main driver <br /> causing the prior YTD variance is CIP Rebates being fully funded from ERMU. <br /> For expenses, in total YTD are 1% more than the prior year, but are in line with budget. <br /> For March 2019, the Electric Department has a Net Profit of$46,645 and YTD Net Profit of <br /> $491,737. This falls short of the budgeted monthly Net Profit of$113,415, and is less than the <br /> prior year monthly Net Profit of$261,444. This does however exceed the budgeted YTD Net <br /> Profit of$301,345, but is less than the prior YTD Net Profit of$540,736. <br /> Water <br /> March gallons of water sold are down 2%from the prior year. For further breakdown: <br /> • Residential use is flat <br /> • Commercial use is down 5% <br /> Water Operating Revenues for March of$122,856 are in line with the prior year and ahead of <br /> budget by 9%. YTD is ahead of prior year by 4%and is also ahead of budget by 14%. <br /> Other Revenues of$44,285 are above the prior year by 1%and ahead of prior YTD by 46%. The <br /> main driver causing the prior YTD variance is Connections Fees. Other Revenues are ahead of <br /> YTD budget by 30%. <br /> Overall, Total Revenues of$167,141 are in line with the prior year and ahead of prior YTD by <br /> 14%with Connection Fees being the driving force. YTD Total Revenues are ahead of budget by <br /> 18%. <br /> Total Expenses of$230,476 are more than the prior year by 9%, but are below YTD budget by <br /> 5%. <br /> For March 2019, the Water Department has a Net Loss of ($63,334) (typical for the water <br /> department) and YTD Net Loss of($155,036). This is ahead of the budgeted monthly Net Loss <br /> of($77,987), but is behind the prior year monthly Net Loss of($45,358). YTD is significantly <br /> ahead of the budgeted YTD Net Loss of($274,640), and is better than the prior YTD Net Loss of <br /> ($193,423). <br /> ATTACHMENTS: <br /> • Balance Sheet 3.2019 <br /> • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 3.2019 <br /> • Summary Water Statement of Revenues, Expenses and Changes in Net Position 3.2019 <br /> • Graphs Prior Year and YTD 2019 <br /> • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 3.2019 <br /> • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 3.2019 <br /> Page 2 of 2 <br /> 363 <br />