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<br />______________________________________________________________________________ <br /> <br />Page 2 of 3 <br />of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses) and Medical <br />expense (larger employer contribution to employee HSA accounts). <br /> <br />General Expenses of $25,707 are less than prior year by 34% and favorable to budget by 47%. <br />YTD costs are less than prior year by 6% and favorable to budget by 46%. <br /> <br />Total expenses YTD are 8% more than prior year and are unfavorable to budget by 4%. The <br />main driver causing the prior YTD variance is Purchased Power. <br /> <br />For June 2021, the Electric Department has a Net Loss of ($202,730) and YTD Net Profit of <br />$74,805. This is ahead of the budgeted monthly Net Loss of ($222,685) but is less than prior <br />year monthly Net Loss of ($189,252). YTD is behind the budgeted YTD Net Profit of $305,933 <br />and is less than the prior YTD Net Profit of $452,091. <br /> <br />Water <br /> <br />June gallons of water sold are up 18% from the prior year. For further breakdown: <br />• Residential use is up 19% <br />• Commercial use is up 16% <br /> <br />Water Operating Revenues for June of $308,664 are ahead of prior year by 20% and favorable <br />to budget by 37%. YTD is ahead of prior year by 6% and favorable to budget by 21%. <br /> <br />Other Revenues of $82,874 are ahead of prior year by 59% and favorable to budget by 107%. <br />YTD is ahead of prior year by 40% and favorable to budget by 94%. The main driver of the YTD <br />variance to prior year and budget are Connection Fees. <br /> <br />Overall, Total Revenues of $391,538 are ahead of prior year by 26% and are ahead of prior YTD <br />by 15%. YTD Total Revenues are favorable to budget by 37%. <br /> <br />Other Operating Expense of ($44,523) is due to relieving the OPEB liability ($44,526) due to the <br />change from group-based medical premiums to age-based medical premiums. With this change <br />ERMU no longer has an OPEB liability. <br /> <br />Total Expenses of $250,858 are more than prior year by 6% and more than prior YTD by 17%. <br />YTD is unfavorable to budget by 2%. The main driver of the prior YTD variance is from <br />Maintenance of Structures, which is due to the transfer of the Jackson Street water tower. <br /> <br />For June 2021, the Water Department has a Net Profit of $140,680 and YTD Net Loss of <br />($99,005). This is better than the budgeted monthly Net Profit of $2,821 and better than the <br />prior year monthly Net Profit of $73,213. YTD is ahead of the budgeted YTD Net Loss of <br />($478,339) but is behind the prior YTD Net Loss of ($70,001). <br /> <br />ATTACHMENTS: <br />• Combined Balance Sheet 06.2021 <br />55