5.0 ERMUSR 02-09-2021 - Laserfiche WebLink

Home Browse Search

______________________________________________________________________________ Page 2 of 2 General Expenses of $43,682 are less than prior year by 19% but are unfavorable to budget by 2%. YTD costs are more than the prior year by 8% but are favorable to budget by 22%. The prior YTD variance is due to Commercial Rebates, but this is still favorable to YTD budget. Total expenses YTD are 2% less than prior year and are favorable to budget by 6%. The main driver of the prior YTD variance is Purchased Power. For December 2020, the Electric Department has a Net Loss of ($8,056) and YTD Net Profit of $2,870,129. This is ahead of the budgeted monthly Net Loss of ($160,949) and is more than the prior year monthly Net Loss of ($235,363). YTD is ahead of the budgeted YTD Net Profit of $1,134,325 and is more than the prior YTD Net Profit of $2,600,307. Water December gallons of water sold are down from the prior year, 6%. For further breakdown: • Residential use is up 4% • Commercial use is down 15% Water Operating Revenues for December of $120,842 are behind prior year by 1% and are unfavorable to budget by 2%. YTD is ahead of prior year by 17% and is favorable to budget by 14%. The prior YTD variance is mainly due to Elk River Residential Sales. Other Revenues of $249,826 are ahead of prior year by 281% and favorable to budget by 470%. YTD is ahead of prior year by 22% are are favorable to budget by 72%. The main drivers causing the prior YTD variance are Connection Fees. Overall, Total Revenues of $370,668 are ahead of prior year by 97% and ahead of prior YTD by 18%. YTD Total Revenues are favorable to budget by 26%. Total Expenses of $218,909 are more than prior year by 1% and are more than prior YTD by 1%. YTD is favorable to budget by 12%. For December 2020, the Water Department has a Net Profit of $151,759 and YTD Net Profit of $833,996. This is ahead of the budgeted monthly Net Loss of ($95,998) and is ahead of the prior year monthly Net Loss of ($28,252). YTD is significantly ahead of the budgeted YTD Net Loss of ($261,953) and prior YTD Net Profit of $315,993. ATTACHMENTS: • Balance Sheet 12.2020 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 12.2020 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 12.2020 • Graphs Prior Year and YTD 2021 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 12.2020 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 12.2020 37