Laserfiche WebLink
Elk River <br />Municipal Utilities UTILITIES COMMISSION MEETING <br />TO: <br />FROM: <br />ERMU Commission <br />Melissa Karpinski — Finance Manager <br />MEETING DATE: <br />AGENDA ITEM NUMBER: <br />March 14, 2023 <br />5.1 <br />SUBJECT: <br />Financial Report —January 2023 <br />ACTION REQUESTED: <br />Receive the January 2023 Financial Report <br />DISCUSSION: <br />Please note that these are the preliminary unaudited financial statements. <br />Electric <br />January's electric kWh sales are down from the prior year, (2%). For further breakdown: <br />• Residential usage is up 1% <br />• Small Commercial usage is up 10% <br />• Large Commercial usage is down (6%) <br />o We conducted our first annual internal audit of demand customers who had less <br />than 50kw usage for the last 12 consecutive months and determined whether <br />they should be reclassed to a non -demand customer. This will be done on an <br />annual basis going forward but should result in less of an impact. <br />Electric Operating Revenues are more than prior year due to 2023 Power Cost Adjustment <br />revenue of $189k. <br />Other Revenues are less than prior year due to retirement of the landfill gas project in 2022 <br />($92k). This will continue for the remainder of the year. <br />Overall, Total Revenues are more than prior year but unfavorable to budget. <br />Total Purchased Power is less than prior year ($143k) mainly due to decreased usage. Current <br />year Energy Adjustment Clause is ($37k) less than prior year. <br />The landfill gas plant was retired in October of 2022. Expenses will continue to show for the <br />reminder of the year due to prior year variance. <br />. : <br />