Laserfiche WebLink
General Expensesof $25,171aremore than prior yearby 5% butarefavorable to budget by <br />41%. YTD costs are morethan the prior year by 7% but are favorabletobudget by 34%. <br />Total expensesYTDare 1% less than prior year andare favorable to budget by 4%. The main <br />driver of the prior YTD variance is Purchased Power. <br /> <br />For August 2020, the Electric Department has a Net Profit of $448,276 and YTD Net Profit of <br />$1,377,839. This is ahead of the budgeted monthly Net Profit of $340,252 but is less than the <br />prior year monthly Net Profit of $883,079. YTD is ahead of the budgeted YTD Net Profit of <br />$771,387 but is slightly less than the prior YTD Net Profit of $1,397,042. <br /> <br />Water <br /> <br />August gallons of water sold are up from the prior year, 3%. For further breakdown: <br /> Residential use is up 3% <br /> Commercial use is up 4% <br /> <br />Water Operating Revenues for August of $373,760 are ahead of prior year by 4% and are <br />favorable to budget by 1%. YTD is ahead of prior year by 20% and is favorable to budget by <br />18%. The prior YTD variance is mainly due to Elk River Residential Sales. <br /> <br />Other Revenues of $104,476 are ahead of prior year by 18% and favorable to budget by 51%. <br />YTD is behind prior year by 7% but are favorable to budget by 27%. The main driver causing the <br />prior YTD variance is Connection Fees. <br /> <br />Overall, Total Revenues of $478,237 are ahead of prior year by 7% and are ahead of prior YTD <br />by 13%. YTD Total Revenues are favorable to budget by 20%. <br /> <br />Total Expenses of $246,211 are ahead of prior year by 14% but are in line with prior YTD. YTD is <br />also favorable to budget by 12%. <br /> <br />For August 2020, the Water Department has a Net Profit of $232,025 and YTD NetProfit of <br />$454,158. This is ahead of the budgeted monthly Net Profit of $154,580 and is ahead of the <br />prior year monthly Net Profit of $229,275. YTD is significantly ahead of the budgeted YTD Net <br />Loss of ($171,855) and prior YTD Net Profitof $185,609. <br />ATTACHMENTS: <br /> Balance Sheet 08.2020 <br /> Summary Electric Statement of Revenues, Expenses and Changes in Net Position <br />08.2020 <br /> Summary Water Statement of Revenues,Expenses and Changes in Net Position 08.2020 <br /> Graphs Prior Year and YTD 2020 <br /> Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 08.2020 <br /> Detailed Water Statement of Revenues, Expenses and Changes in Net Position 08.2020 <br />______________________________________________________________________________ <br />Page 2 of 2 <br />38 <br />