5.1 ERMUSR 01-14-2020 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Theresa Slominski Administrations Director MEETING DATE: AGENDA ITEM NUMBER: January 14, 2020 5.1 SUBJECT: Financial Report November 2019 ACTION REQUESTED: Receive the November 2019 Financial Report DISCUSSION: Electric November electric kWh sales are down from the prior year, 1%. For further breakdown: Residential usage is up 2% Small Commercial usage is down 4% Large Commercial usage is down 2% Electric Operating Revenues for November of $2,923,116 are more than prior year by 2% and favorable to budget by 3%. November YTD is behind prior year by 2% and unfavorable to budget by 3%. The prior YTD variance is mainly due to Elk River Sales (driven by a decrease in rates and usage) which are partially offset by not having the Dispersed Generation Credit since transitioning to MMPA. Other Revenues of $229,173 are more than the prior year by 19% and favorable to budget by 34%. Other Revenue YTD is behind prior year by 11% but is favorable to budget by 21%. The main drivers of the prior YTD variance are from Contributions from Customers (Otsego Street Light Asset Transfer) and Interest Income (due to MMPA buy-in). Overall, Total Revenues of $3,152,289 are more than the prior year by 3% and favorable to budget by 5%. YTD is less than the prior year by 3% and unfavorable to budget by 2%. Purchased Power of $1,673,906 is less than the prior year by 14% and is favorable to budget by 12%. YTD is less than prior year by 7% and is favorable to budget by 3%. Administrative Expenses of $264,440 are less than the prior year by 6% and are favorable to budget by 16%. YTD costs are more than the prior year by 3% but are favorable to budget by 9%. The main drivers of the prior YTD variance are Salaries and Medical/Dental. ______________________________________________________________________________ Page 1 of 2 128