MLGW Capital Spend I MLGW Cash I MLGW 2023 Year End I MLGW Vegetation
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2024 MLGW Mid Year Capital Investment Performance (June 30th)
Based on MLGW June 2024 Financial Report
| wdt_ID | DIVISION | BUDGETED | YTD | ANNUAL | TARGET | ACTUAL |
|---|---|---|---|---|---|---|
| 1 | Electric | 272,762,000 | 87,981,218 | 100 | 50 | 32 |
| 2 | Gas | 35,994,000 | 10,993,201 | 100 | 50 | 31 |
| 3 | Water | 27,463,000 | 13,994,769 | 100 | 50 | 51 |
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 May is 21.66% of budget or $59M of $273M, as compared to $114M of $273M that would be the prorated target five months into the year. This $55M deficient FY24 spend would put MLGW at 52% target spend for FY24. The source document for this analysis is the 2024 MLGW May 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 | 87,981,218 |
GAS (2020-24)
2020-23, a cumulative $46M gas capital spend deficit results or -38% of budget. FY24 capital spend through May is 15.39% of budget or $5.5M of $36M, as compared to $15M of $36M that would be the prorated target five months into the year. This $9.5M deficient FY24 spend would put MLGW at 37% of target spend for FY24. The source document for this analysis is the 2024 MLGW May 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 | 10,993,201 |
WATER (2020-24)
2020-23, a cumulative $52M water capital spend deficit results or -36% of budget. FY24 capital spend through May is 31.76% of budget or $8.7M of $27.5M, as compared to $11.4M of $27.5M that would be the prorated target five months into the year. This $2.7M deficient FY24 spend would put MLGW at 76% of target spend for FY24. The source document for this analysis is the 2024 MLGW May 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 | 13,994,769 |
INVENTORIES (2022-24)
Total inventory, as a percentage of capital spend, has risen from 30% at the beginning of 2022 to 45% as of June 30, 2024. If June 2024 inventory was 30% and the difference deployed, on capital spend of $336,219,090, that would represent $50M less in the warehouse and deployed for ratepayer’s benefit.