5.1 ERMUSR 09-14-2021 - Laserfiche WebLink

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Supplies account has a credit balance due to a reclass of iVUE server to an asset. The main drivers of the prior YTD variance are Dues & Subscriptions — Fees (bonding expenses). General Expenses of $56,907 are more than prior year by 75% and unfavorable to budget by 17%. YTD costs are more than prior year by 7% but favorable to budget by 37%. Total expenses YTD are 8% more than prior year and are unfavorable to budget by 4%. The main driver causing the prior YTD variance is Purchased Power. For July 2021, the Electric Department has a Net Profit of $318,762 and YTD Net Profit of $393,568. This is ahead of the budgeted monthly Net Profit of $282,792 but is less than prior year monthly Net Profit of $477,470. YTD is behind the budgeted YTD Net Profit of $588,725 and is less than the prior YTD Net Profit of $929,562. Water July gallons of water sold are up 21% from the prior year. For further breakdown: • Residential use is up 24% • Commercial use is up 16% Water Operating Revenues for July of $573,393 are ahead of prior year by 24% and favorable to budget by 41%. YTD is ahead of prior year by 12% and favorable to budget by 28%. Other Revenues of $99,692 are ahead of prior year by 120% and favorable to budget by 149%. YTD is ahead of prior year by 50% and favorable to budget by 102%. The main driver of the YTD variance to prior year and budget are Connection Fees. Overall, Total Revenues of $673,085 are ahead of prior year by 32% and are ahead of prior YTD by 20%. YTD Total Revenues are favorable to budget by 41%. YTD Other Operating Expense of ($46,334) is due to relieving the Other Postemployment Benefits (OPEB) liability ($44,525) due to the change from group -based medical premiums to age -based medical premiums. With this change ERMU no longer has an OPEB liability. YTD Administrative Expenses are more than prior year by 17% but favorable to budget by 3%. The main driver of the prior YTD variance are Dues & Subscriptions — Fees (bonding expenses). Total Expenses of $263,018 are more than prior year by 21% and more than prior YTD by 17%. YTD is unfavorable to budget by 2%. The main driver of the prior YTD variance is from Mtce of Structures, which is due to the transfer of the Johnson Street water tower. For July 2021, the Water Department has a Net Profit of $409,284 and YTD Net Profit of $310,279. This is better than the budgeted monthly Net Profit of $203,074 and better than the prior year monthly Net Profit of $292,134. YTD is significantly ahead of the budgeted YTD Net Loss of ($275,265) and is ahead of the prior YTD Net Profit of $222,132. Page 2 of 3 43