PUC shows increase in net income

By RON LARSEN

Journal Staff Writer

NEW ULM -- The New Ulm Public Utilities cleared $593,915 in April which put it at $1,047,951 in net income for 2002.

Interim Utilities Director Dan Sonnek reported net income in April exceeded the budgeted amount by $143,425 as the month's revenues, totaling $2,733,192, exceeded budget and expenses were $95,000 less than budget. Net income was almost exactly double that of April 2001.

Net income year-to-date was $292,563 below budget, but only $12,000 below last year's total through April. Revenues for 2002 total $10,902,680, down $1,252,412 from budget and $2,016,000 below last year.

The natural gas fund was the big performer in April with a net income of $423,423 from revenues totaling $911,382. That pushed the fund's net income for 2002 to $749,509 which is almost $358,000 below budget, based on revenues totaling $4,053,087. The month's net income total is nearly $1 million less than at the end of April 2001.

Net income in the electric fund totaled $148,232 in April, $81,925 over budget and about $250,000 more than April 2001 when the fund experienced a net-income shortfall of $118,764.

"Purchased power is over budget due to pricing and a decision to purchase more power rather than generate," Sonnek said. "Commodity fuel (natural gas) costs are over budget due mainly to the increased purchases as well as pricing."

The district energy fund (steam heat) produced net income totaling $19,786 which drove the year's total to $162,368. That's $45,000 ahead of budget and almost $14,000 ahead of last year.

The wastewater treatment fund posted a net loss of $3,089 for April, but it is $6,208 in the black for the year. That puts it $44,948 above negative budget. The water fund which had a positive cash flow of $5,563 in April is operating at a loss of $21,427 for the year. That's almost $8,000 less than its negative budget for the year to date but only about two-thirds the loss at this time a year ago.