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General Expenses of$24,015 are 52% more than the prior year, but are favorable to budget by <br /> 47%. YTD costs are more than the prior year by 57% but are favorable to budget by 42%. The <br /> main driver causing the prior YTD variance is CIP Rebates being fully funded from ERMU. <br /> For expenses, in total YTD are 3% less than the prior year, and are favorable to budget by 3%. <br /> For August 2019, the Electric Department has a Net Profit of$883,079 and YTD Net Profit of <br /> $1,397,042. This is favorable compared to the budgeted monthly Net Profit of$556,552, and is <br /> more than the prior year monthly Net Profit of$338,690. YTD exceeds the budgeted YTD Net <br /> Profit of$1,222,929, and is more than the prior YTD Net Profit of$1,347,201. <br /> Water <br /> August gallons of water sold are down 13%from the prior year. For further breakdown: <br /> • Residential use is down 18% <br /> • Commercial use is down 8% <br /> Water Operating Revenues for August of$358,070 are behind prior year by 13%, and are <br /> unfavorable to budget by 5%. YTD is behind prior year by 9%, and is unfavorable to budget by <br /> 1%. <br /> Other Revenues of$88,898 are behind the prior year by 58%and are behind prior YTD by 34%. <br /> Other Revenues YTD are favorable to budget by 55%. <br /> Overall,Total Revenues of$446,969 are behind the prior year by 29%and are behind prior YTD <br /> by 17%. YTD Total Revenues are favorable to budget by 10%. <br /> Total Expenses of$216,110 are less than the prior year by 10%and YTD are favorable to budget <br /> by 6%. <br /> For August 2019, the Water Department has a Net Profit of$229,275 and YTD Net Profit of <br /> $185,609. This is ahead of the budgeted monthly Net Profit of$174,811, but is behind the prior <br /> year monthly Net Profit of$386,203. YTD is significantly ahead of the budgeted YTD Net Loss of <br /> ($102,487), but is behind the prior YTD Net Profit of$611,778. <br /> ATTACHMENTS: <br /> • Balance Sheet 8.2019 <br /> • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 8.2019 <br /> • Summary Water Statement of Revenues, Expenses and Changes in Net Position 8.2019 <br /> • Graphs Prior Year and YTD 2019 <br /> • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 8.2019 <br /> • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 8.2019 <br /> Page 2 of 2 <br /> 231 <br />