ERMUSR Financials 07-09-2007 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE Electric P&L The revenue for the electric is up over last year. The industrial usage is up 1,700 megawatt hours, which would be largely from the new data center that is just over 1000 megawatt hours of usage alone. The residential usage is up over 500,000 kilowatt hours, from last year. There are approximately 150 more residential customers than last year. Customer penalties are up considerably from a year ago, almost $7000. Reconnects are up as well, partly because the fee was increased from $20 to $50, but also because the volume of turn offs is increasing. Purchased power is increased over last year with the usage increases noted above, however, we had power cost adjustments last year that account for the cost difference between last year and this year. Depreciation is more in the current year than the prior year (due to increased capital additions last year) and this will continue to be apparent when comparing year to date numbers. For administrative expenses, we had workers comp deductibles of $9,861 that doubled our insurance numbers for the month. Also, consultant fees are up $5,000 (which relates to the MMTG agreement) and Conservation Improvement Program expenses are up (which relates to tree purchases for the tree giveaway program and off peak metering costs.) Water P&L Water usage is up 9% over last year and the related revenues are up 15%. Connection fees continue to be down, and are down 78% compared to year to date numbers last year. Expenses for the water department are comparable to the prior year. The pumping expense is actually lower because we had some maintenance costs for a new flow meter and magnetic locator last year.