5.1 ERMUSR 09-14-2021 - Laserfiche WebLink

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��i Elk River , Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: September 14, 2021 5.1 SUBJECT: Financial Report —July 2021 ACTION REQUESTED: Receive the July 2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric July's electric kWh sales are down from the prior year, 3% (error in billing with adjustment done in August). For further breakdown: • Residential usage is up 2% • Small Commercial usage is up 9% • Large Commercial usage is down 9% (error in billing with adjustment done in August) Electric Operating Revenues for July of $4,178,971 are more than prior year by 3% and in line with budget. July YTD is ahead of prior year by 5% and favorable to budget by 1%. The prior YTD variance is mainly due to Elk River Sales. Other Revenues of $275,044 are more than prior year by 57% and favorable to budget by 60%. Other Revenues YTD is ahead of prior year by 10% and favorable to budget by 22%. Overall, Total Revenues of $4,454,016 are more than prior year by 5% and favorable to budget by 2%. YTD is more than prior year by 5% and is favorable to budget by 3%. Purchased Power of $3,110,114 is more than prior year by 12% an unfavorable to budget by 3%. YTD is more than prior year by 11% and is unfavorable to budget by 9%. YTD Other Operating Expense of ($157,347) is due to relieving the 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 $243,592 are less than prior year by 4% and favorable to budget by 14%. YTD costs are more than prior year by 2% but favorable to budget by 4%. July's Office Page 1 of 3 42