5.1 ERMUSR 10-12-2021 - Laserfiche WebLink

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Administrative Expenses of $253,778are morethanprior yearby 4% butfavorable to budget by 7%. YTD costs are more than prior year by 2% butfavorable to budget by 5%. The main driverof the prior YTDvariance isDues &Subscriptions – Fees (bonding expenses). General Expenses of $23,788 are less than prior year by 5% and favorable to budget by 51%. YTD costs are less than prior year by 6% and favorable to budget by 39%. Total expenses YTD are 9% more than prior year and are unfavorable to budget by 4%. The main driver causing the prior YTD variance is Purchased Power. For August 2021, the Electric Department has a Net Profit of $97,503 and YTD Net Profit of $491,071. This is behind the budgeted monthly Net Profit of $166,705 and is less than prior year monthly Net Profit of $448,276. YTD is behind the budgeted YTD Net Profit of $755,430 and is less than the prior YTD Net Profit of $1,377,839. Water August gallons of water sold are up 25% from the prior year. For further breakdown: Residential use is up 35% Commercial use is up 15% Water Operating Revenues for August of $479,520 are ahead of prior year by 28% and favorable to budget by 46%. YTD is ahead of prior year by 15% and favorable to budget by 31%. Other Revenues of $79,171 are less than prior year by 24% but favorable to budget by 97%. YTD is ahead of prior year by 34% 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 $558,692 are ahead of prior year by 17% and are ahead of prior YTD by 19%. YTD Total Revenues are favorable to budget by 43%. YTD Other Operating Expense of ($46,149) is due to relieving the 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 19% but favorable to budget by 3%. The main driver of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses). Total Expenses of $256,526 are more than prior year by 4% and more than prior YTD by 15%. 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 Jackson Street Water Tower. For August 2021, the Water Department has a Net Profit of $302,102 and YTD Net Profit of $612,381. This is better than the budgeted monthly Net Profit of $113,162 and better than the ______________________________________________________________________________ Page 2 of 3 53