5.1 ERMUSR 01-10-2023 - Laserfiche WebLink

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Administrative Expenses of $324,092 are more than the prior year by 16% but favorable to budget by 2%. YTD costs are more than the prior year by 5% but are favorable to budget by 2%. General Expenses of $25,934 are less than prior year by 8% and favorable to budget by 48%. YTD costs are more than the prior year by 13% but are still favorable to budget by 29%. 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 November 2022, the Electric Department has a Net Profit of $48,816 and YTD Net Profit of $297,063. This is behind the budgeted monthly Net Profit of $116,303 and behind the prior year monthly Net Profit of $312,712. YTD is behind the budgeted YTD Net Profit of $1,588,893 and is less than the prior YTD Net Profit of $1,498,748. 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 .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 2%. The YTD variance for purchased power is unfavorable to budget by $3,990,108 and YTD total expense variance is unfavorable to budget by $3,754,480 (total expense variance is less than the purchased power variance because other expenses are coming in favorable to budget). Water November gallons of water sold are up 2% from the prior year. For further breakdown: • Residential use is up 1% • Commercial use is up 3% Water Operating Revenues for November of $166,234 are more than prior year by 7% and favorable to budget by 21%. YTD is less than prior year by 6% but favorable to budget by 17%. Other Revenues of $270,608 are more than prior year by 266% and favorable to budget by 259%. YTD is more than prior YTD by 117% and favorable to budget by 127%. The main driver causing the prior YTD variance and budget YTD variance is Connection Fees. Overall, Total Revenues of $436,842 are more than prior year by 90% and more than prior YTD by 22%. YTD Total Revenues are favorable to budget by 46%. Total Expenses of $254,808 are more than prior year by 2% and more than prior YTD by 1%. YTD is favorable to budget by 2%. Page 2 of 3 65