In September we sold more water than last year. On a YTD basis, this puts Operation Income (base and usage from Active Shares) at 29% of year total, instead of 25% (3/12ths) of the year. This is good as we need to run ahead during the early part of the year (as we’ll run behind in Winter and early Spring). Business Operations costs are at 54% of annual budget — this is primarily because we’ve paid for Insurance which is, by far, our largest Biz Op expense. Legal fees (KingCo RoW lawsuit) and IT costs are also running a bit hot. We’ll probably end the year a bit over budget for Biz Ops, but we’re not in trouble, here. Systems Ops, at 34%, also running a bit rich, with most sub-accounts burning > than the 25% run rate. Some of this is just “getting ahead of things” (like, testing, chemicals, flow meter calibration, etc..) — but we’ll want to keep our eye on costs trends in System Ops. Often it is “Unscheduled Maintenance” (leaks, failures, etc…) that cause a cost overrun and we are at 36% of annual budget — so there’s been no system disaster, but some nickel and dime issues. No problems for a month and we’ll be back in line with budget. Taxes are only at 9% of annual — because, once again this year, we have a bit of a budget for the eventual Right of Way tax that we are not, yet, paying.
In Capital Improvements you’ll see that we are starting to see some of the costs for Sandy Shores Filtration.
In Reconciliation, we now have two accounts at Kitsap Bank, a “demand” account and a Money Market. The $150k in the Money Market is restricted as collateral for the $250k loan we’ll tap for the Filtration Plant.
Detail Reports from Quickbooks (click below)
Note: I have renamed our monthly detail reports as “Fund Flows” as this is a better description than “Profit & Loss”
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