5.1 ERMUSR 02-08-2022 - Laserfiche WebLink

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Administrative Expenses of $312,172are morethanprior yearby 14% butfavorable to budget by 6%. YTD costsare more than prior year by 3% but favorable to budget by 6%. The main driverof the prior YTDvariance isDues &Subscriptions – Fees (bonding expenses). General Expenses of $57,974 are more than prior year by 33% and unfavorable to budget by 19%. YTD costs are less than prior year by 1% and favorable to budget by 32%. Total expenses YTD are 12% more than prior year and unfavorable to budget by 5%. The main driver causing the prior YTD variance is Purchased Power. For December 2021, the Electric Department has a Net Profit of $177,141 and YTD Net Profit of $1,675,889. This is better than the budgeted monthly Net Loss of ($197,047) and is more than prior year monthly Net Profit of $18,080. YTD is ahead of the budgeted YTD Net Profit of $1,351,548 but is less than the prior YTD Net Profit of $2,896,266. Water December gallons of water sold are up 23% from the prior year. For further breakdown: Residential use is up 22% Commercial use is up 24% Water Operating Revenues for December of $141,864 are more than prioryear by 17% and favorable to budget by 34%. YTDis aheadofprior year by17% andfavorable tobudgetby 33%. The main driver of prior YTD varianceis increased usage. Other Revenues of $511,593 are lessthan prior yearby 30% but favorable to budget by 1206%. YTD is less than prior year by 4% but favorable to budget by 186%. The main drivers of the YTD variance to prior year and budget are Connection Fees and Contributions from Developers. Overall, Total Revenues of $653,458 are less than prior year by 23% but are ahead of prior YTD by 9%. YTD Total Revenues are favorable to budget by 59%. YTD Other Operating Expense of ($44,475) is due to relieving the OPEB liability ($44,525) with the change from group-based medical premiums to age-based medical premiums. With this change ERMU no longer has an OPEB liability. YTD Administrative Expenses are more than prior year by 20% but favorable to budget by 2%. The main drivers of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses), Consulting Fees (bonding expenses) and Utility Share of Medical/Dental. Total Expenses of $242,668 are more than prior year by 33% and more than prior YTD by 14%. YTD is favorable to budget by 1%. The main drivers of the prior YTD variance are Administrative Expense and Mtce of Structures, which is due to the transfer of the Jackson Street water tower. ______________________________________________________________________________ Page 2 of 3 37