5.1 ERMUSR 08-09-2022 - Laserfiche WebLink

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______________________________________________________________________________ Page 1 of 2 UTILITIES COMMISSION MEETING TO: ERMU Commission FROM: Melissa Karpinski – Finance Manager MEETING DATE: August 9, 2022 AGENDA ITEM NUMBER: 5.1 SUBJECT: Financial Report – June 2022 ACTION REQUESTED: Receive the June 2022 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric June’s electric kWh sales are up from the prior year, 8%. For further breakdown: • Residential usage is up 8% • Small Commercial usage is up 18% • Large Commercial usage is up 7% Electric Operating Revenues for June of $4,046,789 are more than prior year by 24% and favorable to budget by 20%. June YTD is more than prior year by 12% and favorable to budget by 8%. The prior YTD variance and budget YTD variance is mainly due to Power Cost Adjustment (PCA) revenue. Other Revenues of $240,998 are more than the prior year by 9% and favorable to budget by 18%. Other Revenues YTD is less than the prior year by 8% and is unfavorable to budget by 11%. The main driver of prior YTD variance and budget YTD variance is Interest & Dividend Income. Overall, Total Revenues of $4,287,787 are more than the prior year by 23% and favorable to budget by 20%. YTD is more than the prior year by 11% and favorable to budget by 7%. Purchased Power of $3,429,170 is more than the prior year by 18% and is unfavorable to budget by 26%. YTD is more than prior year by 17% and is unfavorable to budget by 20%. YTD Energy Adjustment Clause (EAC) charge is $2,032,274 more than prior year and $2,093,563 more than budget. EAC charge is partially offset by PCA revenue. Administrative Expenses of $302,445 are more than the prior year by 16% and unfavorable to budget by 2%. YTD costs are more than the prior year by 1% but are favorable to budget by 3%. 54