3.3. ERMUSR 09-08-2009 - Laserfiche WebLink

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PROFIT A':~D LOSS NARK ATIVE July 2009 Electric P&L Operating Revenue is up 10% from the prior year with moderate increases in all categories. The large industrial sales of the data centers demand usage is down compared to last year due to UHG testing last year. This year reflects normal usage for the data centers. UHG is slowly ramping up their usage. Year to date operating revenues are 55.99% of budget, last year at this time we were at 55.88% of budget. Other revenues are down from a year ago, with the biggest differences in Connections Fees and Miscellaneous. Last year's Miscellaneous had some temporary service revenue from GRE for the gas turbine setup. Purchased Power shows an increase of 25% over last year, and includes a small PCA of approximately $50,000 billed to us for June usage. Purchased power year to date is at 58.02% of budget, last year it was at 54.65% of budget. The summer months are the most "expensive" for purchased power and we have one more month of higher purchased power cost from Connexus. ERMU's rate to our customers is also higher in the summer but our summer billing rate goes through September (our "shoulder" month.) An assessment at the end of September of how our operating revenues versus purchased power is comparing will be valuable. Remaining expenses are comparable to last year and in line with budget. There is an increase in other operating expenses related to the disposition of surplus inventory items. There will also be offsetting income in future months as we find buyers at other utilities for some of these items. Year-to-date Net Income is positive, however lower than last year. The increased power costs, only partially offset by increased rates in this year's budget, is compressing our margin. Targeted budget net income numbers still differ by approximately $300,000, but our cash position for end of year projections are in line. Water P&L Water Sales are up this month, a 21% increase over last year, and 28% increase over budget. Total year-to-date revenue is at 57.03% of budget. Last year we were at 42.63% at July end. Remaining expenses are comparable to last year and in line with budget. Net Income is positive and the year-to-date net loss is smaller than year-to-date net loss last year at this time. As stated last month, the goal is to be able to replenish reserves that were drawn down last year. ~~