5.2 ERMUSR 01-11-2022 - Laserfiche WebLink

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Administrative Expenses of $280,316are morethanprior yearby 6% butfavorable to budget by 11%. YTD costsare more than prior year by 2% but favorable to budget by 6%. The main driver of the prior YTDvariance isDues &Subscriptions – Fees (bonding expenses). General Expenses of $28,231 are less than prior year by 28% and favorable to budget by 42%. YTD costs are less than prior year by 5% and favorable to budget by 37%. Total expenses YTD are 12% more than prior year and unfavorable to budget by 4%. The main driver causing the prior YTD variance is Purchased Power. For November 2021, the Electric Department has a Net Profit of $312,712 and YTD Net Profit of $1,498,748. This is better than the budgeted monthly Net Profit of $18,982 and is more than prior year monthly Net Profit of $227,627. YTD is behind the budgeted YTD Net Profit of $1,548,595 and is less than the prior YTD Net Profit of $2,878,186. Water November gallons of water sold are up 4% from the prior year. For further breakdown: Residential use is up 1% Commercial use is up 7% Water Operating Revenues for Novemberof $155,509 are morethan prior year by 6% and favorable to budget by 21%. YTDis aheadofprior year by17% andfavorable tobudgetby 33%. The main driver of prior YTD varianceis increased usage. Other Revenues of $73,992 are less than prior year by 7% butfavorable to budget by 83%. YTD is ahead of prior year by 22% 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 $229,502 are more than prior year by 2% and areahead of prior YTD by 18%. YTD Total Revenues are favorable to budget by 43%. YTD Other Operating Expense of ($45,322) is dueto 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 drivers of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses) and Utility Share of Medical/Dental. Total Expenses of $251,012 are more than prior year by 10% and more than priorYTD by 12%. YTD is unfavorable to budget by 1%. The main drivers of the prior YTD variance are Administrative Expense and Mtce of Structures, which is due to the transfer of the Jackson Street water tower. ______________________________________________________________________________ Page 2 of 3 112