4.1 ERMUSR 04-12-2022 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: April 12, 2022 5.1 SUBJECT: Financial Report – February 2022 ACTION REQUESTED: Receive the February 2022 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric February’selectric kWh sales are up from the prior year, 2%. For further breakdown: Residential usage is up 4% Small Commercialusageis up 8% Large Commercial usage is down 1% Electric Operating Revenues for February of $3,043,701 are more than prior year by 7% and favorable to budget by 3%. February YTD is in line with prior year but unfavorable to budget by 4%. The budget YTD variance is mainly due to Elk River Sales. Other Revenues of $150,563 are less than the prior year by 31% and unfavorable to budget by 25%. Other Revenues YTD is less than the prior year by 17% and is unfavorable to budget by 22%. The prior YTD variance and budget YTD variance is mainly due to Contributions from Customers and Interest & Dividend Income. Overall, Total Revenues of $3,194,264 are more than the prior year by 4% and favorable to budget by 1%. YTD is less than the prior year by 1% and unfavorable to budget by 5%. Purchased Power of $2,304,997 is more than the prior year by 19% and is unfavorable to budget by 21%. YTD is more than prior year by 18% and is unfavorable to budget by 18%. YTD EAC charge is $520,849 more than prior year and $572,390 more than budget. EAC charge is partially offset by PCA revenue accrual. ,107are more thanthe prior year by 3% but are favorable to Administrative Expenses of $270 budget by 11%. YTD costs are more than the prior year by 2% but are favorable tobudgetby 9%. ______________________________________________________________________________ Page 1 of 2 147