5.1 ERMUSR 12-13-2022 - 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: December 13, 2022 5.1 SUBJECT: Financial Report —October 2022 ACTION REQUESTED: Receive the October 2022 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric October's electric kWh sales are down from the prior year, 8%. For further breakdown: • Residential usage is up 1% • Small Commercial usage is up 4% • Large Commercial usage is down 13% Electric Operating Revenues for October of $3,438,039 are more than prior year by 8% and favorable to budget by 5%. October 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 Power Cost Adjustment (PCA) revenue of $3,200,211. Other Revenues of $280,633 are more than the prior year by 103% and favorable to budget by 38%. Other Revenues YTD are more than prior year by 4% and favorable to budget by 6%. The main drivers of budget YTD variance are Contributions from Customers, Misc Non -Utility (mainly due to mutual aid), and Gain on Disposition of Property (mainly LFG Plant and trade-in from bucket truck) which are partially offset by Interest & Dividend Income. Overall, Total Revenues of $3,718,673 are more than the prior year by 12% and favorable to budget by 7%. YTD is more than the prior year by 10% and favorable to budget by 6%. Purchased Power of $2,212,210 is less than the prior year by 8% but is unfavorable to budget by 12%. YTD is more than prior year by 15% and unfavorable to budget by 16%. YTD Energy Adjustment Clause (EAC) charge is $3,139,387 more than prior year and $3,700,211 more than budget. EAC charge is partially offset by PCA revenue of $3,200,211. Page 1 of 3 76