5.1 ERMUSR 06-09-2020 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: June 9, 2020 5.1 SUBJECT: Financial Report – April 2020 ACTION REQUESTED: Receive the April 2020Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric April’selectric kWh sales are upfrom the prior year, 10%. For further breakdown: Residential usageis up29% Small Commercial usage is up 3% Large Commercial usage is up 3% Electric Operating Revenues for April of $2,854,268 are more thanprior year by 10% and favorable to budget by 8%. April YTD isbehind prior year by 2% and unfavorable to budget by 3%. The prior YTDvariance is mainly due to Elk River Commercial Sales. Other Revenues of $177,209 are more thanthe prior year by 1% and favorable to budget by 4%. Other Revenues YTD are more than the prior year by 16% and favorable to budget by 17%. Overall, Total Revenues of $3,031,477 are more than the prior year by 9% and favorable to budget by 8%. YTD is less than the prior year by 1% and unfavorable to budget by 2%. Purchased Power of $1,745,434 is less than the prior year by 3% but is unfavorable to budget by 1%. YTD is less than prior year by 7% and is favorable to budget by 5%. Administrative Expenses of $250,162 are less than the prior year by 3% and are favorable to budget by 14%. YTD costs are more than the prior year by 3% but are favorable to budget by 11%. The main driver of the prior YTD variance is Insurance. General Expenses of $31,296 are less than prior year by 1% and are favorable to budget by 26%. YTD costs are more than the prior year by 6% but are favorable to budget by 35%. ______________________________________________________________________________ Page 1 of 2 38