Laserfiche WebLink
UTILITIES COMMISSION MEETING <br />TO:FROM: <br />ERMU Commission Melissa Karpinski –Finance Manager <br />MEETING DATE: AGENDA ITEM NUMBER: <br />March 10, 2020 5.1 <br />SUBJECT: <br />Financial Report – January 2020 <br />ACTION REQUESTED: <br />Receive the January 2020Financial Report <br />DISCUSSION: <br />Please note that these are the preliminary unaudited financial statements. <br />Electric <br />January’s electric kWh sales are upfrom the prior year, 11%. For further breakdown: <br /> Residential usage is up 22% <br /> Small Commercial usage is up 17% <br /> Large Commercial usage is up 4% <br /> <br />Electric Operating Revenues for January of $3,040,420 are above the prior year by 6% and <br />favorable to budget by 5%. The prior year variance is mainly due to the amount of days in billing <br />cycles. <br /> <br />Other Revenue of $213,039 is above the prior year by 25% and is favorable to budget by 32%. <br /> <br />Overall, Total Revenues of $3,253,549 are above the prior year by 7%, and favorable to budget <br />by 6%. <br /> <br />Purchased Power of $1,863,589 is less than the prior year by 12%, and favorable to budget by <br />1%. <br /> <br />Administrative Expenses of $374,416 are 8% more than the prior year, and unfavorable to <br />budget by 1%. <br /> <br />General Expenses of $20,282 are 7% more than the prior year but are favorable to budget by <br />52%. <br /> <br />For expenses, in total they are 7% less than the prior year and are favorable to budget by 2%. <br />The main driver causing the prior year variance is Purchased Power. <br />______________________________________________________________________________ <br />Page 1 of 2 <br />49 <br />