MLGW Capital Spend I MLGW Cash I MLGW 2023 Year End I MLGW Budget I Ratios I Rates I MLGW Vegetation
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2024 MLGW Mid Year Capital Investment Performance (September 30th)
Based on MLGW September 2024 Financial Report
| wdt_ID | DIVISION | BUDGETED | YTD | ANNUAL | TARGET | ACTUAL |
|---|---|---|---|---|---|---|
| 1 | Electric | 272,762,000 | 113,929,268 | 100 | 75 | 42 |
| 2 | Gas | 35,994,000 | 17,732,595 | 100 | 75 | 49 |
| 3 | Water | 27,463,000 | 22,959,135 | 100 | 75 | 84 |
MLGW Historic Capital Spend Performance (2020-23)
2020-23, across all divisions of electric, gas and water, MLGW has accumulated a capital spend deficit of $270,423,748 or 31% of budgeted spend. Inventories resides at the bottom of the page.
The capital spend deficit is calculated by subtracting budgeted spend from actual spend (actual – budget = spend difference). In the below tables, the label “SPEND” is used for the actual spend differential value and the label “DIFF” is used for the percentage difference of actual spend from budget. “BUDGET” and “ACTUAL” labels are that.
Other MLGW Dashboard pages can be accessed by using the above navigation or the “NEXT>” link at the bottom of the page. These are the MLGW source documents for this dashboard page: 2022, 2023, 2024 and 2023 year-end monthly unaudited financials.
ALL DIVISONS (2020-23)
| wdt_ID | DIVISION | BUDGET | ACTUAL | SPEND | DIFF |
|---|---|---|---|---|---|
| 1 | All | 882,777,000 | 612,353,252 | -270,423,748 | -31 |
ELECTRIC (2020-24)
2020-23, a cumulative $173M electrical capital spend deficit results or -28% of budget. FY24 capital spend through September is 42% of budget or $114M of $273M, as compared to $205M of $273M that would be the prorated target nine months into the year. This $91M deficient FY24 spend would put MLGW at 56% target spend for FY24. The source document for this analysis is the 2024 MLGW September Monthly Report
| wdt_ID | YEAR | BUDGET | ACTUAL | SPEND | DIFF |
|---|---|---|---|---|---|
| 1 | 2020 | 109,974,000 | 69,471,000 | -40,503,000 | -37 |
| 2 | 2021 | 120,181,000 | 71,818,000 | -48,363,000 | -40 |
| 3 | 2022 | 155,782,000 | 92,810,000 | -62,972,000 | -40 |
| 4 | 2023 | 231,923,000 | 210,647,023 | -21,275,977 | -9 |
| 5 | 2024 | 272,762,000 | 113,929,268 |
GAS (2020-24)
2020-23, a cumulative $46M gas capital spend deficit results or -38% of budget. FY24 capital spend through September is 49% of budget or $17.7M of $36M, as compared to $27M of $36M that would be the prorated target nine months into the year. This $9.3M deficient FY24 spend would put MLGW at 65% of target spend for FY24. The source document for this analysis is the 2024 MLGW September Monthly Report
| wdt_ID | YEAR | BUDGET | ACTUAL | SPEND | DIFF |
|---|---|---|---|---|---|
| 1 | 2020 | 24,078,000 | 20,553,000 | -3,525,000 | -15 |
| 2 | 2021 | 33,651,000 | 14,451,000 | -19,200,000 | -57 |
| 3 | 2022 | 39,759,000 | 17,999,000 | -21,760,000 | -55 |
| 4 | 2023 | 24,281,000 | 22,663,087 | -1,617,913 | -7 |
| 5 | 2024 | 35,994,000 | 17,732,595 |
WATER (2020-24)
2020-23, a cumulative $52M water capital spend deficit results or -36% of budget. FY24 capital spend through September is 84% of budget or $23M of $27M, as compared to $20M of $27M that would be the prorated target nine months into the year. This $4M FY24 overspend would put MLGW at 112% of target spend for FY24. The source document for this analysis is the 2024 MLGW September Monthly Report
| wdt_ID | YEAR | BUDGET | ACTUAL | SPEND | DIFF |
|---|---|---|---|---|---|
| 1 | 2020 | 30,625,000 | 14,932,000 | -15,693,000 | -51 |
| 2 | 2021 | 35,636,000 | 19,302,000 | -16,334,000 | -46 |
| 3 | 2022 | 34,355,000 | 27,240,000 | -7,115,000 | -21 |
| 4 | 2023 | 42,532,000 | 30,467,142 | -12,915,978 | -30 |
| 5 | 2024 | 27,463,000 | 22,959,135 |
INVENTORIES (2022-24)
Overall inventories crept up from June 2024 at 45% to September 2024 at 46% of total budgeted projected capital spend. Total inventory, as a percentage of capital spend, has risen from 30% at the beginning of 2022 to 46% as of September 30, 2024. If September 2024 inventory was 30% and the difference deployed, on projected capital spend of $336,219,090, that would represent $55M less in the warehouse and deployed for ratepayer’s benefit.