5.1 ERMUSR 02-14-2023 - Laserfiche WebLink

Home Browse Search

General Expenses of $24,644 are less than prior year by 58% and favorable to budget by 50%. YTD costs are more than the prior year by 2% but are still favorable to budget by 31%. Total expenses YTD are 12% more than prior year and 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 December 2022, the Electric Department has a Net Profit of $102,213 and YTD Net Profit of $399,276. This is behind the budgeted monthly Net Profit of $458,601 and behind the prior year monthly Net Profit of $420,524. YTD is behind the budgeted YTD Net Profit of $2,047,494 and is less than the prior YTD Net Profit of $1,919,272. 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 4% (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 $4,526,684 and YTD total expense variance is unfavorable to budget by $4,225,473 (total expense variance is less than the purchased power variance because other expenses are coming in favorable to budget). Water December gallons of water sold are up 5% from the prior year. For further breakdown: • Residential use is up 1% • Commercial use is up 10% Water Operating Revenues for December of $150,156 are more than prior year by 6% and favorable to budget by 32%. YTD is less than prior year by 5% but favorable to budget by 18%. Other Revenues of $730,286 are less than prior year by 12% but favorable to budget by 869%. YTD is more than prior YTD by 54% and favorable to budget by 189%. The main driver causing the prior YTD variance and budget YTD variance is Connection Fees. Overall, Total Revenues of $880,442 are less than prior year by 9% but more than prior YTD by 16%. YTD Total Revenues are favorable to budget by 64%. Total Expenses of $269,561 are less than prior year by 29% and less than prior YTD by 2%. YTD is favorable to budget by 3%. For December 2022, the Water Department has a Net Profit of $610,880 and YTD Net Profit of $2,342,995. This is ahead of the budgeted monthly Net Loss of ($103,703) and ahead of the Page 2 of 3 61