5.1 ERMUSR 02-14-2023 - Laserfiche WebLink

Home Browse Search

��i Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: February 14, 2023 5.1 SUBJECT: Financial Report — December 2022 ACTION REQUESTED: Receive the December 2022 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric December's electric kWh sales are down from the prior year, 4%. For further breakdown: • Residential usage is up 2% • Small Commercial usage is down 1% • Large Commercial usage is down 8% Electric Operating Revenues for December of $3,312,145 are less than prior year by 2% but favorable to budget by 1%. December YTD is more than prior year by 7% and favorable to budget by 6%. The prior YTD variance and budget YTD variance is due to an increase in PCA revenue. Other Revenues of $204,013 are more than the prior year by 11% and favorable to budget by 63%. Other Revenues YTD are more than prior year by 8% and favorable to budget by 15%. The main drivers of prior YTD variance are Customer Penalties and Transmission Investments which are partially offset by Interest & Dividend Income. Overall, Total Revenues of $3,516,159 are less than the prior year by 1% but favorable to budget by 4%. YTD is more than the prior year by 7% and favorable to budget by 6%. Purchased Power of $2,325,351 is less than the prior year by 1% but is unfavorable to budget by 30%. YTD is more than prior year by 12% and unfavorable to budget by 17%. YTD EAC charge is $2,953,659 more than prior year and $4,295,368 more than budget. EAC charge is partially offset by PCA revenue of $3,795,368. Administrative Expenses of $310,838 are less than the prior year by 2% and favorable to budget by 6%. YTD costs are more than the prior year by 5% but are favorable to budget by 3%. Page 1 of 3