5.1 ERMUSR 12-08-2020 - Laserfiche WebLink

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General Expenses of $26,738 areless than prior year by 8% and are favorable to budgetby 37%. YTD costs are morethan the prior year by 14% but are favorable to budget by 25%. The prior YTD variance is due to Commercial Rebates, but this is still favorable to YTD budget. Total expenses YTD are 1% less than prior year and are favorable to budget by 5%. The main driver of the prior YTD variance is Purchased Power. For October 2020, the Electric Department has a Net Profit of $676,186 and YTD Net Profit of $2,650,559. This is ahead of the budgeted monthly Net Profit of $402,215 and is more than the prior year monthly Net Profit of $618,529. YTD is ahead of the budgeted YTD Net Profit of $1,132,705 and is more than the prior YTD Net Profit of $2,261,035. Water Octobergallonsof water sold areupfrom the prior year, 42%.For furtherbreakdown: Residential use is up 74% Commercial use is up 21% Water Operating Revenues for October of $267,917 are ahead of prior year by 40% and are favorable to budget by 37%. YTD is ahead of prior year by 20% and is favorable to budget by 17%. The prior YTD variance is mainly due to Elk River Residential Sales. Other Revenues of $77,916 are ahead of prior year by 32% and favorable to budget by 76%. YTD is behind prior year by 6% but are favorable to budget by 34%. The main driver causing the prior YTD variance is Connection Fees. Overall, Total Revenues of $345,834 are ahead of prior year by 38% and ahead of prior YTD by 13%. YTD Total Revenues are favorable to budget by 20%. Total Expenses of $212,132 are less than prior yearby 3% but are ahead of prior YTD by 1%. YTD is also favorable to budget by 11%. For October 2020, the Water Department has a Net Profit of $133,678 and YTD Net Profit of $684,911. Thisis ahead of the budgeted monthly Net Loss of ($5,862) and is ahead of the prior year monthly Net Profit of $32,567. YTD is significantly ahead of the budgeted YTD Net Loss of ($98,790) and prior YTD Net Profit of $362,880. ATTACHMENTS: Balance Sheet 10.2020 Summary Electric Statement of Revenues, Expenses and Changes in Net Position 10.2020 Summary Water Statement of Revenues, Expenses and Changes in Net Position 10.2020 Graphs Prior Year and YTD 2020 Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 10.2020 Detailed Water Statement of Revenues, Expenses and Changes in Net Position 10.2020 ______________________________________________________________________________ Page 2 of 2 54