5.1 ERMUSR 04-14-2020 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: April 14, 2020 5.1 SUBJECT: Financial Report – February 2020 ACTION REQUESTED: Receive the February 2020 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric February’selectric kWh sales are down from the prior year, 15%. For further breakdown: Residential usageis down 21% Small Commercial usage is down 16% Large Commercial usage is down 11% Electric Operating Revenues for February of $2,763,633 are less than prior year by 13% and unfavorable to budget by 15%. FebruaryYTD isbehind prior year by 4% and unfavorable to budget by 5%. The prior YTD variance is mainly due to Elk River Sales. Other Revenues of $152,532 are less than the prior year by 12% and unfavorable to budget by 10%. Other Revenues YTD is more than the prior year by 6% and is favorable to budget by 10%. Overall, Total Revenues of $2,889,166 are less than the prior year by 13% and unfavorable to budget by 14%. YTD is less than the prior year by 3% and unfavorable to budget by 5%. Purchased Power of $1,767,982 is less than the prior year by 3% and is favorable to budget by 14%. YTD is less than prior year by 8% and is favorable to budget by 7%. Administrative Expenses of $248,085 are in line with the prior year and are favorable to budget by 19%. YTD costs are more than the prior year by 5% but are favorable to budget by 8%. The main drivers of the prior YTD variance are Salaries and Medical/Dental. General Expenses of $38,070 are more than prior year by 44% but are favorable to budget by 10%. YTD costs are more than the prior year by 29% but are favorable to budget by 31%. ______________________________________________________________________________ Page 1 of 2 165