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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 />July 9, 2024 <br />5.2 <br />SUBJECT: <br />Financial Report —May 2024 <br />ACTION REQUESTED: <br />Receive the May 2024 Financial Report <br />DISCUSSION: <br />Please note that these are the preliminary unaudited financial statements. <br />Electric <br />May year to date (YTD) electric kWh sales are down 3% from the prior year. For further <br />breakdown: <br />• Residential usage is down 2% <br />• Small Commercial usage is down 6% <br />• Large Commercial usage is down 2% <br />For May 2024, 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 <br />Revenues, Expenses and Changes in Net Position attachment. <br />Water <br />May YTD gallons of water sold are up 7% from the prior year. For further breakdown: <br />• Residential use is up 7% <br />• Commercial use is down 8% <br />For May 2024, the Water Department overall is ahead of prior YTD and favorable to budget <br />YTD. Additional variance analysis can be found on the Summary Water Statement of Revenues, <br />Expenses and Changes in Net Position attachment. <br />ATTACHMENTS: <br />• Balance Sheet 05.2024 <br />• Electric Balance Sheet 05.2024 <br />• Water Balance Sheet 05.2024 <br />• Summary Electric Statement of Revenues, Expenses and Changes in Net Position <br />05.2024 <br />• Summary Water Statement of Revenues, Expenses and Changes in Net Position 05.2024 <br />• Graphs Prior Year and YTD 2024 <br />Page 1 of 2 <br />142 <br />