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Total expensesYTDare 2% less than prior year andare favorable to budget by 4%. The main <br />driver of the prior YTD variance is Purchased Power. <br />For June 2020, the Electric Department has a Net Loss of ($189,252) and YTD Net Profit of <br />$452,091. This is behind the budgeted monthly Net Loss of ($73,083) and is less than prior year <br />monthly Net Profit of $4,710. YTD is behind the budgeted YTD Net Profit of $597,616 and is less <br />than the prior YTD Net Profit of $687,894. <br /> <br />Water <br /> <br />June gallons of water sold are up from the prior year, 25%. For further breakdown: <br /> Residential use is up 41% <br /> Commercial use is up 9% <br /> <br />Water Operating Revenues for June of $257,927 are ahead of prior year by 28% and are <br />favorable to budget by 25%. YTD is ahead of prior year by 11% and is favorable to budget by <br />10%. The prior YTD variance is mainly due to Elk River Residential Sales. <br />Other Revenues of $52,008 are behind prior year by 45% but favorable to budget by 18%. <br />Other revenues YTD are behind by 8% but are favorable to budget by 25%. The main driver <br />causing the prior YTD variance is Connection Fees. <br /> <br />Overall, Total Revenues of $309,935 are ahead of prior year by 5% and are ahead of prior YTD <br />by 6%. YTD Total Revenues are favorable to budget by 13%. <br /> <br />Total Expenses of $236,584 are in line with the prior year and are less than the prior YTD by 3%. <br />YTD is alsofavorable to budget by 12%. <br /> <br />For June 2020, the Water Department has a Net Profit of $73,213 and YTD Net Loss of <br />($70,001). This is ahead of the budgeted monthly Net Profitof $2,286 andis ahead of the prior <br />year monthly Net Profit of $58,591. YTD is significantly ahead of the budgeted YTD Net Loss of <br />($404,838) and is ahead of the prior YTD Net Loss of ($177,407). <br /> <br />ATTACHMENTS: <br /> Balance Sheet 06.2020 <br /> Summary Electric Statement of Revenues, Expenses and Changes in Net Position <br />06.2020 <br /> Summary Water Statement of Revenues, Expenses and Changes in Net Position 06.2020 <br /> Graphs Prior Year and YTD 2020 <br /> Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 06.2020 <br /> Detailed Water Statement of Revenues, Expenses and Changes in Net Position 06.2020 <br /> <br />______________________________________________________________________________ <br />Page 2 of 2 <br />50 <br /> <br />