An improved financial position was presented to the Laurens Commission of Public Works at the commissioner’s monthly meeting this week. Financial statements for March, April and May were presented, showing some improvement in the finances.
General Manager Dale Satterfield noted that March was in the positive by $145,000, and also in the black ‘year-to-date’ by $1.6 million. He noted this was coming off the winter heating season when natural gas sales are up, and that there was some improvement there over the previous year. Satterfield reported that April was in the red by $560,000, with the ‘year-to-date’ figure still in the black by $1,070,000. He noted this was an improvement from the loss last April.
He said that the combined utility operations of the CPW were in the red for May by $169,000. He noted May is a “shoulder month,” where natural gas sales are down due to the winter heating season being over, and summer electric sales are not yet up from summer heat. Satterfield said that with the ‘year-to-date’ figures through May in the red by $900,000, this is about $150,000 better than this time last year.
He also noted that the water department numbers are looking bad due to expenses in the ongoing water meter change out program, but these expenses will be reimbursed with funds from the financing for that major project.
In other financial comments, the CPW General Manager noted that electric sales are off a bit this summer due to the lower temperatures. He said that natural gas prices are a bit higher than projected, hopefully because of a strengthening economy.