5.1 ERMUSR 07-13-2021 - Laserfiche WebLink

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______________________________________________________________________________ Page 1 of 2 UTILITIES COMMISSION MEETING TO: ERMU Commission FROM: Melissa Karpinski – Finance Manager MEETING DATE: July 13, 2021 AGENDA ITEM NUMBER: 5.1 SUBJECT: Financial Report – May 2021 ACTION REQUESTED: Receive the May 2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric May’s electric kWh sales are up from the prior year, 8%. For further breakdown: • Residential usage is down 1% • Small Commercial usage is up 12% • Large Commercial usage is up 12% Electric Operating Revenues for May of $2,664,896 are more than prior year by 8% and favorable to budget by 4%. May YTD is ahead of prior year by 4% and favorable to budget by 1%. The prior YTD variance is mainly due to Elk River Sales. Other Revenues of $202,079 are more than prior year by 26% and favorable to budget by 23%. Other Revenues YTD are in line with prior year and favorable to budget by 12%. Overall, Total Revenues of $2,866,975 are more than prior year by 9% and favorable to budget by 5%. YTD is more than the prior year by 4% and is favorable to budget by 1%. Purchased Power of $2,028,382 is more than prior year by 10% and unfavorable to budget by 17%. YTD is more than prior year by 8% and is unfavorable to budget by 7%. Administrative Expenses of $354,472 are less than prior year by 17% but unfavorable to budget by 22%. YTD costs are more than the prior year by 3% but favorable to budget by 1%. The main drivers of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses) and Medical expense (larger employer contribution to employee HSA accounts). General Expenses of $22,530 are more than prior year by 20% but favorable to budget by 54%. YTD costs are more the prior year by 3% but favorable to budget by 45%. 87