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General Expensesof $65,720aremore than prior yearby 65% andareunfavorable to budgetby <br />54%. YTD costs are morethan the prior year by 16% but are favorabletobudget by 24%.The <br />prior YTD variance is due to Commercial Rebates, but this is still favorable toYTD budget. <br /> <br />Total expenses YTD are 2% less than prior year and are favorable to budget by 5%. The main <br />driver of the prior YTD variance is Purchased Power. <br /> <br />For September 2020, the Electric Department has a Net Profit of $596,533 and YTD Net Profit of <br />$1,974,372. This is ahead of the budgeted monthly Net Loss of ($40,897) andis more thanthe <br />prior year monthly Net Profit of $245,463. YTD is ahead of the budgeted YTD Net Profit of <br />$730,490 and is more than the prior YTD Net Profit of $1,642,505. <br /> <br />Water <br /> <br />September gallons of water sold are up from the prior year, 5%. For furtherbreakdown: <br /> Residential use is up 12% <br /> Commercial use is down 1% <br /> <br />Water Operating Revenues for September of $286,928 are ahead of prior year by 3% but are <br />unfavorable to budget by 1%. YTD is ahead of prior year by 17% and is favorable to budget by <br />15%. The prior YTD variance is mainly due to Elk River Residential Sales. <br /> <br />Other Revenues of $67,374 are behind prior year by 21% but favorable to budget by 52%. YTD <br />is behind prior year by 9% but are favorable to budget by 30%. The main driver causing the <br />prior YTD variance is Connection Fees. <br /> <br />verall, Total Revenues of $354,302 are behind prior yearby 3% but areahead of prior YTD by <br />O <br />11%. YTD Total Revenues are favorable to budget by 18%. <br />TotalExpenses of $257,213 are ahead of prior year by 17% and are ahead of prior YTD by 2%. <br />YTD is also favorable to budget by 11%. <br /> <br />For September 2020, the Water Department has a Net Profit of $97,073 and YTD Net Profit of <br />$551,232. This is ahead of the budgeted monthly Net Profit of $78,927 but is behind the prior <br />year monthly Net Profit of $144,703. YTD is significantly ahead of the budgeted YTD Net Loss of <br />($92,928) and prior YTD Net Profit of $220,919. <br /> <br />ATTACHMENTS: <br />Balance Sheet 09.2020 <br />SummaryElectric Statement of Revenues, Expenses and Changes in Net Position <br />09.2020 <br /> Summary Water Statement of Revenues,Expenses and Changes in Net Position 09.2020 <br /> Graphs Prior Year and YTD 2020 <br />Detailed Electric Statement of Revenues, Expenses and Changes in NetPosition 09.2020 <br />______________________________________________________________________________ <br />Page 2 of 3 <br />39 <br />