6.5. ERMUSR 10-14-2008 - Laserfiche WebLink

Home Browse Search

PROFIT AND LOSS NARRATIVE August 2008 Electric P&L The Operating Revenue for the month is up almost 23% over the prior year. Residential and Commercial sales account for 9% of the increase, and Industrial sales are the remaining 14%, which is largely from the data centers. Year to date operating revenues are 67.44% of budget, and last year we were at 66.68% of budget at this time. Other revenues are still down year-to-date from 2007, largely due to the decreased Connection Fees. There was $24,000 invoiced to GRE in Misc Elec Revenue-Temp Chg for the temporary electric charges in the cabling and transformer setup of their gas turbine engine. Purchased power is pretty consistent with the prior year, at 66.3% percent of budget. Distribution expense has $32,891 expense in Temp Service-Install & Remove and $24,000 of this is related to the temporary electric charges in revenue referenced above. Maintenance expense has increases in Overhead and Underground Distribution as labor resources are focused there. Conservation Imp Program (under Admin & Gen expenses) has a credit for the month because of a $14,468 rebate we received for ER Area Schools, but that will be passed on to the schools next month. Net income for the month is ten times what is was last year, and yet we still are lagging behind last year's year-to-date numbers approximately $500,000. Weather has impacted that, and we have some economic impacts as well with the connection fees. Water P&L Water Sales are up 20% over last year with a 4% reduction in unit volume. Sales overall are still down from last year for year to date numbers and we are still anticipating that we will be under budget for the year. Connection Fees continue to be down. The maintenance categories of the expense budget are at 56% of total budget, but slightly ahead of last year. Overall, expenses are pretty consistent with last year. Total expenses are at 65% of budget, last year they were at 63%, and the linear benchmark would be 66%. Net income for the month ends up being slightly ahead of last year, but we still lag significantly behind last year's year-to-date numbers. Here too, as in the electric, the weather has impacted this greatly, and an economic impact as well with the connection fees. ~~