5.1 ERMUSR 03-14-2023 - Laserfiche WebLink

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Maintenance expense is more than prior year due mainly to increased tree trimming expense, but favorable to budget. Contracted tree trimming is a budgeted item in 2023 as it was in 2022, but due to staffing not as much work was completed in 2022 as originally planned. Administrative Expenses are more than prior year $69k with the main drivers being medical insurance and holiday pay (2 days in 2023 compared to 1 in 2022). Total administrative expenses are in line with budget. Sick pay is unfavorable to budget due to benefit payout for retired employee. Total Expenses are ($67k) less than prior year and favorable to budget ($189k). For January 2023, the Electric Department overall is ahead of prior year and favorable to budget. Water January gallons of water sold are up 1% from the prior year. For further breakdown: • Residential use is down less than (1%) • Commercial use is up 3% Water Operating Revenues are slightly more than the prior year and favorable to budget. Other Revenues are ($30k) less than prior year and unfavorable to budget ($32k) due to Water Tower Lease revenue and Connection Fees. With the new Government Accounting Standards Board standard, we will be recognizing water tower lease revenue on an annual basis in December (instead of monthly throughout the year). Overall, Total Revenues are less than prior year and unfavorable to budget. Distribution expense is more than prior year due to a water main repair and timing issue for water permit but in line with budget. Total Expenses are $57k more than prior year but favorable to budget ($20k). For January 2023, the Water Department overall is behind prior year but favorable to budget. ATTACHMENTS: • Balance Sheet 01.2023 • Electric Balance Sheet 01.2023 • Water Balance Sheet 01.2023 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 01.2023 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 01.2023 • Graphs Prior Year and YTD 2023 169