5.1 ERMUSR 10-12-2021 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: October 12, 20215.1 SUBJECT: Financial Report – August2021 ACTION REQUESTED: Receive the August2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric August’s electric kWhsales are up from the prior year, 9% (July error in billing with adjustment done in August). For further breakdown: Residential usage is up 5% Small Commercial usage is up 7% Large Commercial usage is up 12% (July error in billing with adjustment done in August) Electric Operating Revenues for August of $3,821,633 are more than prior year by 3% but unfavorable to budget by 1%. August YTD is ahead of prior year by 4% and favorable to budget by 1%. The prior YTD varianceis mainly due to Elk River Sales. Other Revenues of $255,537 are more than prior yearby 20% and favorable to budget by 53%. Other Revenues YTD are ahead of prior year by 11% andfavorable to budget by 26%. Overall, Total Revenues of $4,077,171 are more than prior year by 3% and favorable to budget by 1%. YTD is more than prior year by 5% and is favorable to budget by 2%. Purchased Power of $2,987,985 is more than prior year by 15% an unfavorable to budget by 6%. YTD is more than prior year by 12% and is unfavorable to budget by 8%. YTD EAC charge is $1,239,983 more than prior year. YTD Other Operating Expense of ($156,050) is due to relieving the Other Post-Employment 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. ______________________________________________________________________________ Page 1 of 3 52