report actual vs budget attachment
TRANSCRIPT
FPT Report
OM Actual
vs Budget Attachment
Northern States Power Co Mmnesota Company
OM
thousands
of December 2012
Shared Services Consolidated Year
End Deviation
Corporate Services
Customer Care
Management Initiatives January
393
Management Initiatives March
557
Management Initiative June
90
Misc
OM credits
due
to delay
in Cellnet automated reads
269
Meter Readi
ig
Transportation Fleet costs
35
Postage volumes on
Ils
letters
ard notices
347
CA
O
Management Initiatives January
Realignment
of the ERCM Project
31
Human Resources
Managemert Initiatives January
72
Management Initiatives March 95
Employee transfers between Safety
and
HR
due
to
Reorg
107
Labor shift between legal entity
and unfi
led positions
65
Delay
of consulting
and contract labor
for projects that
wil carry over into 2013
18
Safety Workforce Relations
Management Initiatives January
24
Management Initiatives March 17
Managemert Initiatives March
Management Initiatives March
Employee transfers between Safety
and
HR
due
to
Reorg
107
Year
end true
up related
to
attrtion impact
112
Severance
and Settlement agreement
112
Labor shift between legal entity
and unfilled positions
201
Resource Planning
Labor overage dnven
by
positions transferred from Risk Management
and severance
227
Other
92
Page
10
of
14
FPT Report
OM Actual
vs Budget Attachment
Northern States Power Co Minnesota Company
OM thousands
of December 2012
Year
End Deviation
Frnancial Operations
Management Initiatives January
392
Management Initiatives March174
Management Iritiativea March
J2
Exempt Ment
Ad ustment
200
Seve ances Audit Services Risk Management
and Financial Planning Analysis
228
Company labor excluding Management Initiatives severances
due
to OpCo shifts staff reductions
and open positions
443
Accounting consulting
for audit services
co source support following staff reductions
and
tax support
378
Property nsurance policy renewal increases
due
to
higher valuations
and
property losses
829
General liability insurance operating company shifts based on 3-year loss history
and
premium reductions
893
Excess liability insurance policy increases
179
Auto insurance operating corrpany shift based
on year loss history
and policy renewal increase
235
Nuclear liability insurance
176
Nuclear Liabi
ty
Industry Cred Rating Plan ICRP insurance refund higher than expected
121
Other insurance unachievable reimbursement from captive insurance related
to employee benefit
353
categories
Other
17
Total
Fin lucta Operattons
2l2
Group President
Management ritiatives-January
300
Management Initiatives-March
562
Management Initiatives March
Bad Debt
640
Management Initiatives March
Bad Debt variance
to
original submission based upon
the updated reserve policy
448
Exempt Merit Adjustment
283
Exempt Merit Adjustment Reinstatement
85
Updated Direct Regulatory
and NARU schedule
of fees
116
Fees are
now accrued monthly
whi
the budget
was based on cash basis
808
Increased funding
for
the Supplenental Incentive Payment
SIP based upon trade activity
620
Reduced corsu ting
and contract abor across
the business area
Transfer
of community grant sponsorship funding from
the Foundation
170
Rate case expense write
off
Not budgeted
in 2012 1027Reclass
of Regulatory Information System
R1S project costs
to
capital
137
Reduced en-ployee expenses
due
to Management Initiatves
and internal oversight
263
Labor attrition
was
not achieved throughout
the business area
289
Other
390
Page
11
of 14
FPT Report
OM Actual
vs Budget Attachirent
Northern States Power Co Minnesota Company
OM thousands
of December 2012
Year
End Deviation
General Counsel
Management Initiatives January90
Management Initiatives January
Management Addback Sept
Oct EnXco litigation
and Sherco
500
Exempt Mont Adjustment
65
Exempt Mart Adlustment Reinstatement
20
Additional costs
for EnXco litigation
and Sherco 1847
AdditonalReductionstooutsidelegal
110
Delay
of
ring open positions
122
Adthtioflal adjustments
re ated
to various matters
187
Addit onal credit
for legal expenses associated with
DO
E
314
Increase in
AN
R
Pipel
no
187
Other 175
Total Gertetal Coudsel 1a51
Public Polcy xternaI AffaIrs
Management Initiatives January
62
Management Initiatives January
15
Management Initiatives January
13
Management Initiatives March
680
Exerrpt Merit Adjustment
49
Exempt Mont Adjustment Reinstatement
15
Transfe from
Ben Fowke
to fund Corporate Reputation newspaper campaign
103
Transfer
of community grant
and
sponsorsh payments
to
Group President
170
Reorganization
of Public Policy Extemal Affairs organization
as well
as travel related expenses
156
Prefund Foundation reserve account 4614Other
45
Total Public Pohey External Affairs
Page
12
of
14
FRI Report
OM Actual
vs Budget Attachment
Northern States Power Co Minnesota Company
OM
thousands
of December2012
Year
End Deviation
Strategy
and
Piannint
Management Initiatives January
Management Initiatives March
Management Initiatives March
Labor ment increase removed
Labor mart reinstatement
4th quarter
Other____________
Total Strategy
and Planning
Chief Executive Officer
Management
mit atives January
13
Management Initiatives January
Exempt merit adjustment
Transfer
of funds
to Pubic Policy
for Corporate Reputation newspaper campaign
103
Reductions
to Chairmans Fund payouts
374
Raduct ons
to Chairmans Fund payouts
94
Other 63
TtaI Ctnlef Execut4ve Officer
p9
Corporate Other
Management Initiatives March 90
First
Set Credit variance
due
to
change
in meter/transformer purchases
753
First
Set Credit variance
due to change
in meter purchases
603
Transmission Interchanqe Expense variance
657
Net
A/P
BM
O accrual
for employee credit card
954
Permanent
Tax Difference
248
Reverse
of penalty accrual 3420
Overhead credits related
to construction phase
of CAPX2O2O lower than projected expense
308
Corrpany
use cred variance
359
Company use cred variance
96
Write-off
of
old miscellaneous
AIR 143
Other
48
Total Cororate Othef _________
Page
13
of
14
FPT Report
OM Actual
vs Budget Attachment
Northern States Power Co Minnesota Company
OM
thousands
of December 2012
Year
End Deviation
Benefits
Higher pension coats mainly
due to decrease in
the expected return
on assets
and discount rate
450assumptions
and
to unfavorable demographics offset
by higher prior year asset returns
Higher nonqualified pension costs mainly
due
to decrease
in
the discount rate assunption offset
by
20
favorable demographic experience adjustment
Higher
FAS
86 settlement expense
128
Prior year 401k match trueup recorded in March
35
Lower 401k match costs mainly
due
to
plan design change which
was incorporated
nb
the budget being removed
30
and
to
revised estimates
Lower executive nonqualified deferred comp match costs
due
to revised calculations
10
Higher retirement related consulting costs mainly
due
to an increase
in
special projects
275
Reimbursement from
the
un
on related
to
ret rement benefits
243
Lower active healthcare costs mainly
due to lower medical claims
255
Adjustmenttothe2oll IBNR accrual
040
Lower retiree medical costs
ma
nly
due
to favorable claims experience
and plan design changes offset
by 60
decrease
in tne expected return
on assets discount rate assumptions
and to unfavorable demographics
Higher
FAS
112
long term disability costs main
due to decrease in
the discount rate assumption offset
by
515
favorable demographics larger reduction
in
the number
of disableds receiving benefits than assumed
Higher workers compensation costs
due
to decrease
in
the discount rate assumption
and
to
unfavorable
10
claim adjustments offset
by updated workers compensation insurance premiums
due to
receiving
the actual
annual premium which included adjustments
by company based on actual loss expenence
Changes
in annual incentive costs
due
to updated accrual rates
14
555
Annual incentive true
up recorded
in March
due to payment
of
the 2011 plan
120
Lower ernual incentive costs
due to nuclear bargaining
no longer
be ng eligible
for
the plan
159
Higher restricted stock units
due
to
the 2011
EP
S units
at 150% vs 100/a budgeted
736
Higher restricted stock units
due
to
the addition
of 2011 phase ins offset
by higher expected forfeitures
172
Higher restricted stock units
due
all other changes
to 2011 units
236
Changes
in restricted stock
un
ts
due
to various other changes
173
Lower performance share plan costs
due
to
lower rankings
and stock price 3150
PS
P trueup
due
to
payment
of
the 2009 cycle
130
Changes in Spot
On Award costs
Changes
in employee performance recogntion
and Years
of Contribution costs
13
LIr recoverable rocogniton costs
114
Labor load budget/forecast process timing splits
to
OM and other
but mainly driven
by decrease
424
in labor charged
to
OM
Other
tat Benefits ___________________________________________________________ 45OS
Page
14
of
14
FPT
Report
OM
Actual
vs Budget Attachment
Northern States Power
Co Minnesota Company
OM thousands
of December 2013
YE 2013
December December December
Company
Bus Area
Act
YTD
Bud
YTD
YTD
Var
10 Northern States Power
MN Energy Supply 162083 158038 4045
Distribution Operations 130664 125809 4855
Gas Systems 22248 22722
474
Transmission 43629 42007 1622
Operations Services 7523 6854
669
Nuclear Generation
Bus Area 379293 345617 33676
Nuclear Amortz Other
44 1213
17
372 26756
Corporate Services 204381 203188 1194
Financial Operations 50215 50782
567
Rwcnia .rriiip 1l8f8 14456 7c18General Counsel 16383 11299 5084External Affairs 2412 4984 2572Chief Executive Officer 1506 1905
399
Corporate Other 52291 52397
106
Benefits Loadings 132046 139717 7671
10 Northern States Power
MN Total 1174
206 1162403 11803
Page
of
11
FPT Report
OM Actual
vs Budget Attachment
Northern States Power
Co Minnesota Company
OM thousands
of December 2013
Energy Supply Year
End Devation
Electnc
Additional Approved Investment
New
Projects
Black
Dog Unit Overhaul
443
Riverside Unit
Low
Pressure Rotor Inspection
650
Other
MN Generation maintenance projects
975
Addihonal Approved Investment Accelerations
Acceleration
of Wilmarth material purchases
for January outage
75
AS King Overhaul Discovery
and Chemical Cleaning 2759
Base cost reductions identified across
MN fleet 4157
Black
Dog Unit
and coal operations into 2015
645
Black
Dog Units
and emergent work 2600
Combustion Turbines Parts Exchange Program Angus Anson
and Riverside i845
Diagnostic center remote monitoring costs
at Sherco
and King
475
Estimate
for fall outage discovery Sherco Unit Riverside Black
Dog
400
Grand Meadows additional maintenance
300
Nuclear outage support 1026
Riverside Turbine Valve Overhaul delayed from 2012
to 2013 360
Riverside Unit
Low Pressure Rotor Inspection scope reduction
and Outage Underrun
690
Sherco Unit reduction
in chemicals
and materials
due
to Unit Turbine Event
984
Tech Services Reliability Services
and Overhaul Mgmt reorganization service organization labor savings
due
to vacancies
and work on capital 1371
AS King Fall Outage Emergent
350
Black
Dog Repowering Preliminary Survey
and Investigation Wnte-off 1500
Sherco Unit Outage Discovery partly offset
by cost reductions
and
OM
to
capital reclasses
at Sherco
385
Riverside ball park remediation revised environmental estimate
000
Reduction
in Sherco life cycle study
172
MN revised Sales
tax decision
624
Other
386
Sub-total Electric 3962
Gas
Other
33
Sub-total
Gas
33
Other
Other
116
SubtotaI Other
116
Other
Page
of
11
FPT Report
OM Actual vs Budget Attachment
Northern States Power
Co Minnesota Company
OM thousands
of December 2013
Distribution Operations Year
End Deviation
Electnc
Accelerations
Vegetation Management NSPM 2013 Accelerations into 2012 500
Additional Approved Investments
New Projects
Vegetation Management Line Clearance September 1000
Dist
Ops Network Maintenance/Century Link
Etc September 1050
Reduce Summer Storm forecast
to
right-set debris clearing
vs tree trimming tasks
700
June 2013 Minnesota Major Storm Event approved target adjustment
700
Incremental significant Storm Events primarily
in
April 2013
and June 2013 2635
Favorable metering
and outdoor lighting spend
vs budgeted 1044
Forecasting
gap
in
MN materials between utilities
200
Vegetation Management Line Clearance planned spend
897
Sales
tax forecasted
at higher level Actuals came
in
under
the
electric utility
989
Non commodity
bad debt
206
Underground
and overhead heat stress
on
the system causing outages
484
June 2013 Mutual
Aid Efforts
for Ameren 123
CIAC credit adjustment between revenue
and capital booked incorrectly against
OM 435
Other
87
Sub-total Electric 8750
Gas
DistOps NSPM
Gas Safety Rider Deferred Accounting
850
Gas Safety Deferral reverse deferral
of Cast Iron
250
DistOps NSPM Forecast adiustment between cias
vs electric utility nqht-setting
to current
and future spend patterns 3000
Capital/OM reclass
for metering material cleanup
279
IMP spend budgeted
in OM
but
now deferred
685
Other
80
Sub-total
Gas 3916
Qth
Other
21
Sub-total Other
21
Other
Total Distribution Operations _________ 485S
Page
of
11
FPT Report
OM
Actual
vs Budget Attachment
Northern States Power
Co Mnnesoia Company
OM thousands
of December 2013
Gas Systems Year
End Deviation
Electnc
Other
182
Sub4ota Electric
182
Gas
FTEs
for
Gas Trainers moved
to
Corporate Safety Training
141
American
Gas Association Dues moved to Corporate Services
166
Underrun
in contract outside vendor spend
for Wescott Plants
164
Lower Labor
at Wescott
due
to lower headcount
114
Office
of
Pipeline Safety Ucense payment
256
Vanous/miscellaneous
11
Other____________
Sub-tota
Ga
s
318
Other
Other
26
Sub4ota Other
26
Other
Page
of
11