Here’s the final summary (and links to the detail account reports) for Fiscal Year 2022. (Next report will be FYQ1 2023, to be published in October). COMMENTS: — Good year, financially. — Our changes to billing rates added a bit more Operations income than budgeted. — Staffing costs were …
For reference during the Annual Meeting, today, I am publishing the Proposed Budget with a new, revised Estimate of our End-Of-Year financial results. In Operations, we will book slightly less revenue than anticipated (wet spring) and also have managed to have lower expenses. Result is slightly more surplus for the …
At its April meeting, the Board approved the 2023 Operating and Capital budgets to recommend to shareholders at the annual meeting, in June. You can find the summary and detail budgets, here. Also during the April meeting, the board decided to modify the finacial reporting schedule. Beginning immediately, the Treasurer …
During the annual budgeting cycle we forecast for how we are likely to finish the year, financially — if there are no surprises. Starting this month I will include this Forecast in the monthly summary. The Current Forecast is based on YTD actuals through March plus estimates for April, May …
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High income — for mid-winter — reflects rate change but also very high reported usage billing, which we will investigate. (Double prior year?!) System Operations are high due to a large repair (in January) and some shop parts. Taxes are low just due to timing. Otherwise, cash flows are normal, …
Operations Income and Staffing Costs are right on target. Business Ops costs are high primarily due to legal fees for litigation with King County (Franchise Fees) — and Insurance is paid. These high costs are mostly behind us. System Ops costs are in-line with budget and should finish close to …
At 6 months, any “straight line” budget items would be at 50%. Operations Income, at 55%, is running ahead. This is due to slightly higher Water Usage as well as the impact of the rate change. Summer billing gets us a fast start on Income every year. Due to the …
On a monthly straight-line basis, costs and income would be at 41.7%. YTD Income is still a bit ahead, which is good as we’ve had our biggest billing months, already. In the November column you see, primarily, the impact of the rate change vs. last year, which is bringing in …
We’re looking like a nice, boring water company (utility), again! Although some items are high or low based on a straight-line 33% of the annual budget (for 4 months) we know what’s behind these variations. For income, we are still a bit ahead due to summer billing and the rate …