5.2 ERMUSR 09-13-2022 - Laserfiche WebLink

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______________________________________________________________________________ Page 1 of 3 UTILITIES COMMISSION MEETING TO: ERMU Commission FROM: Melissa Karpinski – Finance Manager MEETING DATE: September 13, 2022 AGENDA ITEM NUMBER: 5.2 SUBJECT: Financial Report – July 2022 ACTION REQUESTED: Receive the July 2022 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, 8% (error in July 2021 Large Commercial billing with adjustment done in August 2021 – factoring in adjustment usage would be down 14%). For further breakdown: • Residential usage is down 19% • Small Commercial usage is down 16% • Large Commercial usage is up 2% (error in July 2021 billing with adjustment done in August 2021 – factoring in adjustment usage would be down 10%) Electric Operating Revenues for July of $4,204,173 are more than prior year by 1% but unfavorable to budget by 3%. July YTD is more than prior year by 10% and favorable to budget by 6%. The prior YTD variance and budget YTD variance is mainly due to PCA revenue. Other Revenues of $264,738 are less than the prior year by 4% but favorable to budget by 30%. Other Revenues YTD are less than the prior year by 7% and unfavorable to budget by 5%. The main driver of prior YTD variance and budget YTD variance is Interest & Dividend Income. Overall, Total Revenues of $4,468,911 are more than the prior year by less than 1% but unfavorable to budget by 1%. YTD is more than the prior year by 9% and favorable to budget by 6%. Purchased Power of $3,512,076 is more than the prior year by 13% and is unfavorable to budget by 12%. YTD is more than prior year by 16% and unfavorable to budget by 18%. YTD EAC charge is $2,405,957 more than prior year and $2,530,369 more than budget. EAC charge is partially offset by PCA revenue. 62