5.2 ERMUSR 09-13-2022 - Laserfiche WebLink

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______________________________________________________________________________ Page 2 of 3 Administrative Expenses of $265,834 are more than the prior year by 9% but favorable to budget by 9%. YTD costs are more than the prior year by 2% but are favorable to budget by 4%. General Expenses of $28,463 are less than prior year by 50% and are favorable to budget by 42%. YTD costs are more than the prior year by 7% but are still favorable to budget by 33%. Total expenses YTD are 14% more than prior year and are unfavorable to budget by 11%. The main driver causing the prior YTD variance and budget YTD variance is Purchased Power (majority of other expenses are favorable to budget). For July 2022, the Electric Department has a Net Loss of ($67,466) and YTD Net Loss of ($649,788). This is behind the budgeted monthly Net Profit of $296,811 and is behind the prior year monthly Net Profit of $318,762. YTD is behind the budgeted YTD Net Profit of $575,450 and is less than the prior YTD Net Profit of $393,568. Water July gallons of water sold are down 25% from the prior year. For further breakdown: • Residential use is down 28% • Commercial use is down 19% Water Operating Revenues for July of $431,002 are less than prior year by 25% but are in line with budget. YTD is less than prior year by 12% but favorable to budget by 5%. Other Revenues of $441,866 are more than prior year by 343% and favorable to budget by 489%. YTD is more than prior YTD by 143% and favorable to budget by 163%. The main driver causing the prior YTD variance and budget YTD variance is Connection Fees. Overall, Total Revenues of $872,868 are more than prior year by 30% and more than prior YTD by 28%. YTD Total Revenues are favorable to budget by 50%. Total Expenses of $254,140 are less than prior year by 3% and less than the prior YTD by 1%. YTD is favorable to budget by 3%. For July 2022, the Water Department has a Net Profit of $618,728 and YTD Net Profit of $951,010. This is ahead of the budgeted monthly Net Profit of $251,533 and ahead of prior year monthly Net Profit of $409,284. YTD is ahead of the budgeted YTD Net Loss of ($20,887) and is ahead of the prior YTD Net Profit of $310,279. ATTACHMENTS: • Balance Sheet 07.2022 • Electric Balance Sheet 07.2022 • Water Balance Sheet 07.2022 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 07.2022 63