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Elk River <br /> Municipal Utilities UTILITIES COMMISSION MEETING <br /> TO: FROM: <br /> ERMU Commission Theresa Slominski— Finance & Office Manager <br /> MEETING DATE: AGENDA ITEM NUMBER: <br /> March 12, 2019 5.1 Financial Report—February 2019 <br /> SUBJECT: <br /> February 2019 <br /> ACTION REQUESTED: <br /> Receive the February 2019 Financial Report <br /> DISCUSSION: <br /> Electric P&L <br /> February's electric kWh sales are up from the prior year, 5%. For further breakdown: <br /> • Residential usage is up 7% <br /> • Small Commercial usage is down 4% <br /> • Large Commercial usage is up 5% <br /> Electric Operating Revenues for February of$3,144,100 are above the prior year by 3%and <br /> ahead of budget by 1%. February YTD is also ahead of prior year by 3%and budget by 1%. The <br /> prior YTD variance is mainly due to not having the Dispersed Generation Credit since <br /> transitioning to MMPA. <br /> Other Revenues of$173,826 is less than the prior year by 57% but ahead of budget by 13%. <br /> Other Revenue YTD is below prior year by 34% but is ahead of budget by 14%. The main driver <br /> of the prior YTD variance is from Contributions from Customers. <br /> Overall,Total Revenues of$3,317,926 are below the prior year by 4% but are ahead of budget <br /> by 2%. YTD is in line with prior year and is ahead of budget by 2%. <br /> Purchased Power of$1,821,125 is less than the prior year by 11%, and below budget by 10%. <br /> YTD is less than prior year by 9%and is in line with budget. <br /> Administrative Expenses of$246,978 are 6% more than the prior year, but 12% below budget. <br /> YTD costs are more than the prior year by 12%, but are less than budget by 4%. The main <br /> drivers of the prior YTD variance are due to Employee Vacation Pay which is because of the <br /> change in when the PTO day is awarded and the increase in Medical Insurance costs. <br /> Page 1 of 2 <br /> 162 <br />