5.1 ERMUSR 12-13-2022 - Laserfiche WebLink

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Administrative Expenses of $278,448 are more than the prior year by 1% but favorable to budget by 5%. YTD costs are more than the prior year by 4% but are favorable to budget by 2%. General Expenses of $43,757 are more than prior year by 112% but favorable to budget by 12%. YTD costs are more than the prior year by 15% but are still favorable to budget by 27%. Total expenses YTD are 13% 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 October 2022, the Electric Department has a Net Profit of $391,374 and YTD Net Profit of $248,247. This is behind the budgeted monthly Net Profit of $429,020 but ahead of the prior year monthly Net Loss of ($55,833). YTD is behind the budgeted YTD Net Profit of $1,472,590 and is less than the prior YTD Net Profit of $1,186,035. Overall, the electric department has decreased usage YTD (4% 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 .4% more than prior year (due to decreased usage being offset by the rate increase). Total expenses excluding purchased power are favorable to budget by 2%. The YTD variance for purchased power is unfavorable to budget by $3,674,549 and YTD total expense variance is unfavorable to budget by $3,478,691 (total expense variance is less than the purchased power variance because other expenses are coming in favorable to budget). Water October gallons of water sold are up 9% from the prior year. For further breakdown: • Residential use is up 9% • Commercial use is up 10% Water Operating Revenues for October of $291,424 are more than prior year by 14% and favorable to budget by 16%. YTD is less than prior year by 7% but favorable to budget by 17%. Other Revenues of $78,332 are less than prior year by 8% but favorable to budget by 4%. YTD is more than prior YTD by 103% and favorable to budget by 113%. The main driver causing the prior YTD variance and budget YTD variance is Connection Fees. Overall, Total Revenues of $369,756 are more than prior year by 8% and more than prior YTD by 18%. YTD Total Revenues are favorable to budget by 42%. Total Expenses of $252,234 are more than prior year by 6% and more than prior YTD by 1%. YTD is favorable to budget by 2%. Page 2 of 3 77