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General Expenses of $29,188 are 58% more than the prior year, but are favorable to budget by <br />35%. YTD costs are more than the prior year by 66% but are favorable to budget by 38%. The <br />main driver causing the prior YTD variance is CIP Rebates being fully funded from ERMU. <br /> <br />Total expenses YTD are 1% less than the prior year, and are favorable to budget by 4%. <br /> <br />For October 2019, the Electric Department has a Net Profit of $618,529 and YTD Net Profit of <br />$2,261,035. This is ahead of the budgeted monthly Net Profit of $240,549, but is less than the <br />prior year monthly Net Profit of $793,835. YTD is ahead of the budgeted YTD Net Profit of <br />$1,846,767, but is less than the prior YTD Net Profit of $2,884,040. <br /> <br />Water <br /> <br />October gallons of water sold are down 10% from the prior year. For further breakdown: <br />Residential use is down 12% <br />Commercial use is down 9% <br /> <br />Water Operating Revenues for October of $191,287 are behind prior year by 7%, but are <br />favorable to budget by 1%. YTD is behind prior year by 10%, and is unfavorable to budget by <br />1%. <br /> <br />Other Revenues of $59,048 are more than the prior year by 14%, but are behind prior YTD by <br />28%. The main driver causing the prior YTD variance is Connection Fees. Other Revenues YTD <br />are favorable to budget by 58%. <br /> <br />Overall, Total Revenues of $250,335 are behind the prior year by 3% and are behind prior YTD <br />by 15%. YTD Total Revenues are favorable to budget by 9%. <br /> <br />Total Expenses of $217,768 are less than the prior year by 1% and YTD are favorable to budget <br />by 7%. <br /> <br />For October 2019, the Water Department has a Net Profit of $32,567 and YTD Net Profit of <br />$362,880. This is ahead of the budgeted monthly Net Loss of ($3,796), but is slightly behind the <br />prior year monthly Net Profit of $38,823. YTD is significantly ahead of the budgeted YTD Net <br />Loss of ($12,450), but is behind the prior YTD Net Profit of $834,190. <br /> <br />ATTACHMENTS: <br />Balance Sheet 10.2019 <br />Summary Electric Statement of Revenues, Expenses and Changes in Net Position <br />10.2019 <br />Summary Water Statement of Revenues, Expenses and Changes in Net Position 10.2019 <br />Graphs Prior Year and YTD 2019 <br />Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 10.2019 <br />Detailed Water Statement of Revenues, Expenses and Changes in Net Position 10.2019 <br />______________________________________________________________________________ <br />Page 2 of 2 <br />534 <br />