5.1 ERMUSR 01-12-2021 - Laserfiche WebLink

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General Expensesof $38,994aremore than prior yearby 6% butarefavorable to budgetby 9%. YTD costs are morethan the prior yearby 13% but are favorabletobudget by 24%.The prior YTD variance is due to Commercial Rebates, but this is still favorable toYTD budget. Total expenses YTD are 1% less than prior year and are favorable to budget by 6%. The main driver of the prior YTD variance is Purchased Power. For November 2020, the Electric Department has a Net Profitof $227,627 and YTD Net Profit of $2,878,186. This is ahead of the budgeted monthly Net Profitof $162,569but isless than the prior year monthly Net Profit of $574,635. YTD is ahead of the budgeted YTD Net Profit of $1,295,274 andis morethan the prior YTD Net Profit of $2,835,670. Water November gallons of water sold are down from the prior year, 8%. For further breakdown: Residential use is down 4% Commercial use is down 13% Water Operating Revenues for November of $146,233 are behind prior year by 4% and are unfavorable to budget by 5%. YTD is ahead of prior year by 18% and is favorable to budget by 15%. The prior YTD variance is mainly due to Elk River Residential Sales. Other Revenues of $79,475 are ahead of prior year by 42% and favorable to budget by 80%. YTD is behindprioryear by 2% butare favorable tobudget by 38%. The main drivers causing the priorYTD variance are Customer Penaltiesand ConnectionFees. Overall, Total Revenues of $225,709 are ahead of prior year by 9% and ahead of prior YTD by 13%. YTD Total Revenues are favorable to budget by 20%. Total Expenses of $228,159 are more than prior year by 1% and are more than prior YTD by 1%. YTD is favorable to budget by 11%. For November 2020, the Water Department has a Net Loss of ($2,674) and YTD Net Profit of $682,236. This is ahead of the budgeted monthly Net Loss of ($67,165) and is ahead of the prior year monthly Net Loss of ($18,635). YTD is significantly ahead of the budgeted YTD Net Loss of ($165,955) and prior YTD Net Profit of $344,245. ATTACHMENTS: Balance Sheet 11.2020 Summary Electric Statement of Revenues, Expenses and Changes in Net Position 11.2020 Summary Water Statement of Revenues, Expenses and Changes in Net Position 11.2020 Graphs Prior Year and YTD 2020 Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 11.2020 Detailed Water Statement of Revenues, Expenses and Changes in Net Position 11.2020 ______________________________________________________________________________ Page 2 of 2 75