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��i <br />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 />November 14, 2023 <br />5.02 <br />SUBJECT: <br />Financial Report —September 2023 <br />ACTION REQUESTED: <br />Receive the September 2023 Financial Report <br />DISCUSSION: <br />Please note that these are the preliminary unaudited financial statements. <br />Electric <br />September year to date (YTD) electric kWh sales are down 2% from the prior year. For further <br />breakdown: <br />• Residential usage is up 1% <br />• Small Commercial usage is up 7% <br />• Large Commercial usage is down 6% <br />For September 2023, the Electric Department overall is ahead of prior YTD and favorable to budget <br />YTD. Additional variance analysis can be found on the Summary Electric Statement of Revenues, <br />Expenses and Changes in Net Position attachment. <br />As an update to last month's meeting, Schools & Meetings large expense in August of 2023 was mainly <br />due to labor for the new field services building open house event. <br />Water <br />September YTD gallons of water sold are up 21% from the prior year. For further breakdown: <br />• Residential use is up 18% <br />• Commercial use is up 25% <br />For September 2023, the Water Department overall is behind prior YTD but favorable to budget YTD. <br />Additional variance analysis can be found on the Summary Water Statement of Revenues, Expenses <br />and Changes in Net Position attachment. <br />ATTACHMENTS: <br />• Balance Sheet 09.2023 <br />• Electric Balance Sheet 09.2023 <br />• Water Balance Sheet 09.2023 <br />• Summary Electric Statement of Revenues, Expenses and Changes in Net Position 09.2023 <br />Page 1 of 2 <br />55 <br />