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UTILITIES COMMISSION MEETING <br />TO:FROM: <br />ERMU Commission Melissa Karpinski –Finance Manager <br />MEETING DATE: AGENDA ITEM NUMBER: <br />March 9, 2021 5.1 <br />SUBJECT: <br />Financial Report – January 2021 <br />ACTION REQUESTED: <br />Receive the January 2021Financial Report <br />DISCUSSION: <br />Please note that these are the preliminary unaudited financial statements. <br />Electric <br />January’s electric kWh sales are upfrom the prior year, 2%. For further breakdown: <br /> Residential usageis up 4% <br />Small Commercialusageis down 7% <br /> Large Commercial usage is up 2% <br />Electric Operating Revenues for January of $3,081,244 are more than the prior year by 1% but <br />unfavorable to budget by 2%. <br /> <br />Other Revenues of $138,101 are less than the prior year by 35% and is unfavorable to budget <br />by 15%. The prior year variance is mainly due to Customer Penalties, due to not charging <br />penalties on delinquent accounts during the Peacetime Emergency Order. <br /> <br />Overall, Total Revenues of $3,219,346 are less than the prior year by 1% and unfavorable to <br />budget by 3%. <br /> <br />Purchased Power of $2,023,213 is morethan the prior year by 9%, andunfavorable to budget <br />by 1%. <br /> <br />Administrative Expenses of $415,058 are 11% more than the prior year, but favorable to budget <br />by 8%. The main driver of the prior year variance is Medical expense, which is due to the larger <br />employer contribution to employee HSA accounts. <br /> <br />General Expenses of $20,033 are 1% less than the prior year and are favorable to budget by <br />58%. <br /> <br />______________________________________________________________________________ <br />Page 1 of 2 <br />303 <br />