5.1 ERMUSR 04-11-2017 - Laserfiche WebLink

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�,,,/ Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Theresa Slominski -Finance & Office Manager MEETING DATE: AGENDA ITEM NUMBER: April 11, 2017 5.1 SUBJECT: Financial Report—February 2017 ACTION REQUESTED: None DISCUSSION: Electric P&L February's electric kwh sales (from January consumption) are up from the prior year, 4%. For further breakdown: • Residential usage is up 2% • Small Commercial usage is up 5% • Large Commercial usage is up 5% Electric Operating Revenue for February was $2,672,789, 8%above the prior year and 4%above budget. This includes the pro-forma adjustment to show the demand adjustment credit being funded through reserves. This month the adjustment was $33,289. The adjustment didn't start being booked in 2016 until August. February's Operating Revenue would be $2,639,500 without the pro-forma adjustment,which is 7%above prior year and 4%above budget. Other Revenue Total is below the prior year by 16%,which is largely due to the security sale. Other Revenue is only 1%below budget YTD. Overall, Total Revenues of$2,811,683 are above both prior year and prior YTD by 6%. YTD Total Revenues are ahead of budget by 4%. Purchased Power of$1,927,624 is more than the prior year by 3%, but is under the budget by 5%. YTD costs are more than prior year by 4%, but are still under budget by 2%. Administrative Expenses are $200,357, are consistent with the prior year, and 7%under budget. YTD costs are more than prior year by 10%, but are under budget by 2%. The increase over the prior YTD is most notably due to medical and dental insurances, which is $39,760 more than the prior YTD or 33%. The increase in medical is largely driven by the increased participation in the HSA plan,which increased the employer HSA contribution made in January by $21,202 over last year. Page 1 of 2 154