5.1 ERMUSR 04-13-2021 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: April 13, 2021 5.1 SUBJECT: Financial Report – February 2021 ACTION REQUESTED: Receive the February 2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric February’selectric kWh sales are up from the prior year, 4%. For further breakdown: Residential usage is up 9% Small Commercialusageis down 1% Large Commercial usage is up 2% Electric Operating Revenues for February of $2,851,025 are more than prior year by 4% and favorable to budget by 1%. February YTD is ahead of prior year by 3% but unfavorable to budget by 1%. The prior YTD variance is mainly due to Elk River Sales. Other Revenues of $217,270 are more than the prior year by 42% and favorable to budgetby 32%. Other Revenues YTD is less than the prior year by 3% but is favorable to budget by 9%. The prior YTD variance is mainly due to Landfill Gas Plant and Customer Penalties (due to not charging penalties on delinquent accounts during the Emergency Peacetime Order), which are partially offset by Contributions from Customers. Overall, Total Revenues of $3,068,296 are more than the prior year by 6% and favorable to budget by 2%. YTD is more than the prior year by 2% and is in line with budget. Purchased Power of $1,942,498 is more than the prior year by 10% and is unfavorable to budget by 9%. YTD is more than prior year by 9% and is unfavorable to budget by 4%. Administrative Expenses of $261,096 are more than the prior year by 5% but are favorable to budget by 15%. YTD costs are more than the prior year by 9% but are favorable to budget by 11%. The main driver of the prior YTD variance is Medical expense, which is due to the larger employer contribution to employee HSA accounts. ______________________________________________________________________________ Page 1 of 2 236