5.1 ERMUSR 08-10-2021 - Laserfiche WebLink

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______________________________________________________________________________ Page 1 of 3 UTILITIES COMMISSION MEETING TO: ERMU Commission FROM: Melissa Karpinski – Finance Manager MEETING DATE: August 10, 2021 AGENDA ITEM NUMBER: 5.1 SUBJECT: Financial Report – June 2021 ACTION REQUESTED: Receive the June 2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric June’s electric kWh sales are up from the prior year, 12%. For further breakdown: • Residential usage is up 9% • Small Commercial usage is up 15% • Large Commercial usage is up 13% Electric Operating Revenues for June of $3,252,666 are more than prior year by 11% and favorable to budget by 7%. June YTD is ahead of prior year by 5% and favorable to budget by 2%. The prior YTD variance is mainly due to Elk River Sales. Other Revenues of $221,402 are more than prior year by 18% and favorable to budget by 34%. Other Revenues YTD is ahead of prior year by 3% and favorable to budget by 16%. Overall, Total Revenues of $3,474,068 are more than prior year by 11% and favorable to budget by 9%. YTD is more than prior year by 5% and is favorable to budget by 3%. Purchased Power of $2,908,386 is more than prior year by 24% and unfavorable to budget by 22%. YTD is more than prior year by 11% and is unfavorable to budget by 10%. Other Operating Expense of ($204,796) is due to relieving the Other Postemployment Benefits (OPEB) liability ($208,274) due to the change from group-based medical premiums to age-based medical premiums. With this change ERMU no longer has an OPEB liability. Administrative Expenses of $261,511 are less than prior year by 4% and favorable to budget by 11%. YTD costs are more than prior year by 2% but favorable to budget by 3%. The main drivers 54