5.1 ERMUSR 11-09-2021 - Laserfiche WebLink

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Administrative Expenses of $281,700are lessthanprior yearby 2% andfavorable to budget by 10%. YTD costs are more than prior year by 1% butfavorable to budget by 5%. The main driver of the prior YTDvariance isDues &Subscriptions – Fees (bonding expenses). General Expenses of $51,151 are less than prior year by 22% but unfavorable to budget by 5%. YTD costs are in line with prior year and favorable to budget by 34%. Total expenses YTD are 10% more than prior year and are unfavorable to budget by 3%. The main driver causing the prior YTD variance is Purchased Power. For September 2021, the Electric Department has a Net Profit of $750,798 and YTD Net Profit of $1,241,869. This is ahead of the budgeted monthly Net Profitof $221,853and is more than prior year monthly Net Profit of $596,533. YTD is ahead of the budgeted YTD Net Profit of $977,283 but is less than the prior YTD Net Profit of $1,974,372. Water September gallons of water sold are up 45% from the prior year. For further breakdown: Residential use is up 58% Commercial use is up 33% Water Operating Revenues for September of $426,254 are ahead of prior year by 49% and favorable to budget by 68%. YTD is ahead of prior year by 20% and favorable to budget by 37%. The main driver of prior YTD variance is increased usage. Other Revenues of $57,831 are less than prior year by 14% but favorable to budget by 43%. YTD is ahead of prior year by 28% and favorable to budget by 95%. The main driver of the YTD variance to prior year and budget are Connection Fees. Overall, Total Revenues of $484,086 are ahead of prior year by 37% and are ahead of prior YTD by 22%. YTD Total Revenues are favorable to budget by 46%. YTD Other Operating Expense of ($45,965) 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 18% but favorable to budget by 3%. The main driver of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses). Total Expenses of $242,995 are less than prior year by 6% but more than prior YTD by 13%. 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 September 2021, the Water Department has a Net Profit of $240,773 and YTD Net Profit of $853,155. This is better than the budgeted monthly Net Profit of $46,930 and better than the ______________________________________________________________________________ Page 2 of 3 52