August numbers are good, no surprises. In the summary, below, I’ve added a “Prior Year” column for comparison to the month’s actual. This provides some sense of whether there were any surprises. In the Operations Fund, what you’ll notice is that we booked more Income. This was a combination of more Base Rate accounts and greater water sales than last year. The Systems Operations costs line-item included a large “unscheduled system maintenance” last year. Income for the Capital Improvement Fund is lower because we have fewer Reserved Shares paying base rate and capital charge. (Note: It is not very useful to compare the costs in the System Replacement and Capital Improvement funds against last year as they reflect different projects from year to year.)
In the Year-to-Date column, which is compared to the approved annual budget, you’d expect that at the end of month two we’d be at about 16-17% of annual budget. Biggest variance is in System Operations which is primarily due to inclusion of a late June electric bill and a leak repair that will be billed to the shareholder.
Our Actual bank account balance at end of August was about $637k. The “reconciliation gap” book cash and actual cash is $19k, which is still much higher than I like. I’ll work with Angie (our bookkeeper) to investigate this.
Detail Reports from Quickbooks (click below)
Note: I have renamed our monthly reports as “Fund Flows” as this is a better description than “Profit & Loss”
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