5.1 ERMUSR 06-08-2021 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: June 8, 2021 5.1 SUBJECT: Financial Report – April 2021 ACTION REQUESTED: Receive the April 2021Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric April’selectric kWh sales are upfrom the prior year, 3%. For further breakdown: Residential usageis down 5% Small Commercialusageis up 6% Large Commercial usage is up 7% Electric Operating Revenues for April of $2,915,609 are more than prior year by 2% but unfavorable to budget by 1%. April YTD is ahead of prior year by 3% and in line with budget. The prior YTD variance is mainly due to Elk River Sales. Other Revenues of $184,897 are more than the prior year by 4% andfavorable tobudgetby 13%. Other Revenues YTD is less than the prior year by 6% but is favorable to budget by 10%. The prior YTD variance is mainly due to Interest/Dividend Income, LFG Plant and Customer Penalties (due to not charging penalties on delinquent accounts during the Emergency Peacetime Order). Overall, Total Revenues of $3,100,507 are more than the prior year by 2% and in line with budget. YTD is more than the prior year by 3% and is favorable to budget by 1%. Purchased Power of $1,851,855 is more than the prior year by 6% but is in line with budget. YTD is more than prior year by 8% and is unfavorable to budget by 5%. Administrative Expenses of $291,148 are more than the prior year by 16% and are unfavorable to budget by 1%. YTD costs are more than the prior year by 11% but are favorable to budget by 6%. The main driver of the prior YTD variance is Medical expense, which is due to the larger employer contribution to employee HSA accounts. ______________________________________________________________________________ Page 1 of 2 62