5.1 ERMUSR 10-11-2022 - Laserfiche WebLink

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Administrative Expenses of $287,496are morethanthe prior yearby 13% andunfavorable to budgetby 3%. YTD costs are morethan the prior year by 3% butare favorable tobudgetby 3%. General Expenses of $45,198aremore thanprior yearby 90% butfavorable to budget by 8%. YTD costs are more than the prior year by 15% but are still favorable to budget by 30%. Total expenses YTD are 14% more than prior year and are unfavorable to budget by 12%. The main driver causing the prior YTD variance and budget YTD variance is Purchased Power (majority of other expenses are favorable to budget). For August 2022, the Electric Department has a Net Profit of $94,381 and YTD Net Lossof ($555,407). This is behind the budgeted monthly Net Profit of $165,073 and is slightly behind the prior year monthly Net Profit of $97,503. YTD is behind the budgeted YTD Net Profit of $740,523 and is less than the prior YTD Net Profit of $491,071. Overall, the electric department has decreased usage YTD (3% less than budget and 2% less than prior year) but increased PCA revenue due to passing along the EAC charge from our purchased power cost. YTD total operating revenue excluding PCA revenue would be unfavorable to budget by 3% (due to decreased usage) and about .5% more than prior year (due to decreased usage being offset by the rate increase). Total expenses excluding purchased power are favorable to budget by 3%. The YTD variance for purchased power is unfavorable to budget by $3,290,760 and YTD total expense variance is unfavorable to budget by $3,039,007 (total expense variance is less than the purchased power variance because other expenses are coming in favorable to budget). Water August gallons of water sold aredown 5% from the prior year. For further breakdown: Residential use is down 2% Commercial use is down 9% Water Operating Revenues for August of $457,307 are less than prior year by 5% butfavorable to budget by 31%. YTD is less than prior year by 10% but favorable to budget by 11%. Other Revenues of $83,307 are more than prior year by 5% and favorable to budget by 11%. YTD is more than prior YTD by 126% andfavorable tobudget by 144%. The main driver causing the prior YTD variance and budget YTD varianceis Connection Fees. Overall, Total Revenues of $540,615 are less thanprior year by 3% butmore than prior YTD by 22%. YTD Total Revenues are favorable to budgetby 46%. Total Expenses of $284,677 are more than prior year by 11% but in line with prior YTD. YTD is favorable to budget by 2%. ______________________________________________________________________________ Page 2 of 3 46