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General Expenses of $28,295 are 63% more than the prior year, but are favorable to budget by <br />38%. YTD costs are more than the prior year by 61% but are favorable to budget by 40%. The <br />main driver causing the prior YTD variance is CIP Rebates being fully funded from ERMU. <br />For expenses, in total YTD are in line with the prior year, and are favorable to budget by 3%. <br />For June 2019, the Electric Department has a Net Profit of $4,710 and YTD Net Profit of <br />$687,894. This falls short of the budgeted monthly Net Profit of $169,277, and is less than the <br />prior year monthly Net Profit of $101,492. YTD exceeds the budgeted YTD Net Profit of <br />$475,311, but is less than the prior YTD Net Profit of $1,156,897. <br />Water <br />June gallons of water sold is down 34% from the prior year. For further breakdown: <br />• Residential use is down 38% <br />• Commercial use is down 30% <br />Water Operating Revenues for June of $200,929 are behind prior year by 34% and unfavorable <br />to budget by 28%. YTD is behind prior year by 9% and is also unfavorable to budget by 1%. <br />Other Revenues of $94,372 are behind the prior year by 10% but are in line with prior YTD. <br />Other Revenues YTD are favorable to budget by 43%. <br />Overall, Total Revenues of $295,301 are behind the prior year by 28% and are behind prior YTD <br />by 6%. YTD Total Revenues are favorable to budget by 9%. <br />Total Expenses of $236,709 are more than the prior year by 8%, but YTD are favorable to <br />budget by 4%. <br />For June 2019, the Water Department has a Net Profit of $58,591 and YTD Net Loss of <br />($177,407). This is behind of the budgeted monthly Net Profit of $82,497, and is behind the <br />prior year monthly Net Profit of $189,506. YTD is significantly ahead of the budgeted YTD Net <br />Loss of ($337,506), but is behind the prior YTD Net Loss of ($42,951). <br />ATTACHMENTS: <br />• Balance Sheet 6.2019 <br />• Summary Electric Statement of Revenues, Expenses and Changes in Net Position 6.2019 <br />• Summary Water Statement of Revenues, Expenses and Changes in Net Position 6.2019 <br />• Graphs Prior Year and YTD 2019 <br />• Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 6.2019 <br />• Detailed Water Statement of Revenues, Expenses and Changes in Net Position 6.2019 <br />Page 2 of 2 <br />75 <br />