Spring should be well underway in the United States according to forecasts made on Groundhog Day by famed weatherman Punxsutawney Phil. But instead many parts of the US have been experiencing cold snaps and even snow this week. As a result, an Ohio prosecutor tired of a prolonged winter has indicted Punxsutawney Phil for fraud.
This lingering winter weather could have negative impacts on the utility costs and budgets for the multi-family industry. Many owners budget using the prior year expenses as a baseline, and last year the winter was unseasonably warm. This means variances between budgets and actuals that will need to be explained to our clients. I just wonder, would it be wrong if in our variance explanations we simply said, “Our Gas consumption is greater this year than last because of the groundhog?”
For more info, see:
<A href=”http://gma.yahoo.com/blogs/abc-blogs/cold-prosecutor-indicts-punxsutawney-phil-fraud-153605476–abc-news-topstories.html“>Punxsutawney Phil indicted for fraud</a>
<A href=”http://www.eia.gov/todayinenergy/detail.cfm?id=5310“>Winter of 2011-2012 had lowest heating costs in 9 years</a>