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General Expenses of$53,827aremorethan the prior yearby 131% andareunfavorable to <br />budget by 20%. YTD costs are more than the prior year by 79% but are favorable to budget by <br />32%. The main driver causing the prior YTD variance is CIP Rebates being fully funded from <br />ERMU. <br /> <br />Total expenses YTD are 2% less than the prior year and are favorable to budget by 5%. <br /> <br />For December 2019, the Electric Department has a Net Profit of $34,948 and YTD Net Profit of <br />$2,870,618. This is ahead of the budgeted monthly Net Loss of ($344,908) and is more than the <br />prior year monthly Net Loss of ($132,783). YTD is ahead of the budgeted YTD Net Profit of <br />$1,593,658 but is less than the prior YTD Net Profit of $2,960,518. <br /> <br />Water <br />December gallons of water sold are down 4% from the prior year. For further breakdown: <br />Residential use is down 1% <br />Commercial use is down 7% <br /> <br />Water Operating Revenues for December of $122,337 are in line with the prior year and are <br />favorable to budget by 9%. YTD is behind prior year by 9% but is in line with budget. <br /> <br />Other Revenues of $66,042 are less than the prior year by 5% and are behind prior YTD by 26%. <br />The main driver causing the prior YTD variance is Connection Fees. Other Revenues YTD are <br />favorable to budget by 48%. <br /> <br />Overall, Total Revenues of $188,380 are behind the prior year by 2% and are behind prior YTD <br />by 14%. YTD Total Revenues are favorable to budget by 9%. <br /> <br />Total Expenses of $191,760 are more than the prior year by 5% but are in line with prior YTD. <br />YTD is also favorable to budget by 8%. <br /> <br />For December 2019, the Water Department has a Net Loss of ($3,379) and YTD Net Profit of <br />$340,865. This is ahead of the budgeted monthly Net Loss of ($63,592) but is slightly behind the <br />prior year monthly Net Profit of $10,661. YTD is significantly ahead of the budgeted YTD Net <br />Loss of ($144,494) but is behind the prior YTD Net Profit of $840,660. <br /> <br />ATTACHMENTS: <br />Balance Sheet 12.2019 <br />Summary Electric Statement of Revenues, Expenses and Changes in Net Position <br />12.2019 <br />Summary Water Statement of Revenues, Expenses and Changes in Net Position 12.2019 <br />Graphs Prior Year and YTD 2020 <br />Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 12.2019 <br />Detailed Water Statement of Revenues, Expenses and Changes in Net Position 12.2019 <br />______________________________________________________________________________ <br />Page 2 of 2 <br />60 <br />