Dalton Utilities ended February with a $9.745 million operating margin, according to data presented to the utility’s board on Tuesday. That’s $1.592 million above the margin for February 2023.
Total revenues were $29.031 million for February, up from $26.948 million in February 2023.
In the year-to-date through February, the operating margin was $14.304 million, down from $15.520 million in the same period in 2023.
The utility uses money generated from its operations to support investments in maintaining and expanding the operations of facilities, to fund debt service obligations and to fund its transfer payment to the city’s general fund.
Dalton Utilities pays the city each year a transfer payment set at the larger of $10.5 million or 5% of the utility’s total revenues. That transfer payment was $12.1 million in 2023.
In February, electricity revenue exceeded expenses by $2.105 million. Natural gas expenses exceeded revenue by $312,000. For water services, expenses exceeded revenue by $402,000 in February.
For wastewater services, revenue exceeded expenses by $267,000 for the month.
OptiLink expenses exceeded revenue by $368,000 in February.
The current forecast calls for a year-end operating margin of $74.334 million. That is likely to change as more data comes in, according to utility officials.
Officials also reviewed the utility’s electric business sector. Dalton Utilities serves 7,336 customers and maintains about 356 miles of mains and 9,836 service lines.