5.1 ERMUSR 12-12-2021 - Laserfiche WebLink

Home Browse Search

Administrative Expenses of$275,881 are more than prior year by 5% but favorable to budget by 6%. YTD costs are more than prior year by 2% but favorable to budget by 5%. The main driver of the prior YTD variance is Dues& Subscriptions—Fees (bonding expenses). General Expenses of$20,680 are less than prior year by 23% and favorable to budget by 58%. YTD costs are less than prior year by 2%and favorable to budget by 36%. Total expenses YTD are 11% more than prior year and are unfavorable to budget by 4%. The main driver causing the prior YTD variance is Purchased Power. For October 2021, the Electric Department has a Net Loss of($55,833) and YTD Net Profit of $1,186,035. This is behind the budgeted monthly Net Profit of$552,330 and is less than prior year monthly Net Profit of$676,186. YTD is behind the budgeted YTD Net Profit of$1,529,613 and is less than the prior YTD Net Profit of$2,650,559. Water October gallons of water sold are down 7%from the prior year. For further breakdown: • Residential use is down 13% • Commercial use is down 1% Water Operating Revenues for October of$256,529 are less than prior year by 4% but favorable to budget by 8%. YTD is ahead of prior year by 17% and favorable to budget by 33%. The main driver of prior YTD variance is increased usage. Other Revenues of$84,963 are more than prior year by 9%and favorable to budget by 110%. YTD is ahead of prior year by 26%and favorable to budget by 97%. The main driver of the YTD variance to prior year and budget are Connection Fees. Overall, Total Revenues of$341,493 are less than prior year by 1% but are ahead of prior YTD by 19%. YTD Total Revenues are favorable to budget by 44%. YTD Other Operating Expense of ($45,524) 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 2%. The main driver of the prior YTD variance are Dues & Subscriptions—Fees (bonding expenses). Total Expenses of$237,287 are more than prior year by 12% and more than prior YTD by 13%. YTD is unfavorable to budget by 1%.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 October 2021, the Water Department has a Net Profit of$104,206 and YTD Net Profit of $957,361. This is better than the budgeted monthly Net Profit of$36,621 but less than the prior Page 2 of 3 50