5.1 ERMUSR 01-14-2020UTILITIES COMMISSION MEETING
TO: FROM:
ERMU Commission Theresa Slominski Administrations Director
MEETING DATE: AGENDA ITEM NUMBER:
January 14, 2020 5.1
SUBJECT:
Financial Report November 2019
ACTION REQUESTED:
Receive the November 2019 Financial Report
DISCUSSION:
Electric
November electric kWh sales are down from the prior year, 1%. For further breakdown:
Residential usage is up 2%
Small Commercial usage is down 4%
Large Commercial usage is down 2%
Electric Operating Revenues for November of $2,923,116 are more than prior year by 2% and
favorable to budget by 3%. November YTD is behind prior year by 2% and unfavorable to
budget by 3%. The prior YTD variance is mainly due to Elk River Sales (driven by a decrease in
rates and usage) which are partially offset by not having the Dispersed Generation Credit since
transitioning to MMPA.
Other Revenues of $229,173 are more than the prior year by 19% and favorable to budget by
34%. Other Revenue YTD is behind prior year by 11% but is favorable to budget by 21%. The
main drivers of the prior YTD variance are from Contributions from Customers (Otsego Street
Light Asset Transfer) and Interest Income (due to MMPA buy-in).
Overall, Total Revenues of $3,152,289 are more than the prior year by 3% and favorable to
budget by 5%. YTD is less than the prior year by 3% and unfavorable to budget by 2%.
Purchased Power of $1,673,906 is less than the prior year by 14% and is favorable to budget by
12%. YTD is less than prior year by 7% and is favorable to budget by 3%.
Administrative Expenses of $264,440 are less than the prior year by 6% and are favorable to
budget by 16%. YTD costs are more than the prior year by 3% but are favorable to budget by
9%. The main drivers of the prior YTD variance are Salaries and Medical/Dental.
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General Expenses of $36,618 are more than the prior year by 155% but are favorable to budget
by 18%. YTD costs are more than the prior year by 73% but are favorable to budget by 37%. The
main driver causing the prior YTD variance is CIP Rebates being fully funded from ERMU.
Total expenses YTD are 2% less than the prior year and are favorable to budget by 5%.
For November 2019, the Electric Department has a Net Profit of $574,635 and YTD Net Profit of
$2,835,670. This is ahead of the budgeted monthly Net Profit of $91,799 and is more than the
prior year monthly Net Profit of $209,262. YTD is ahead of the budgeted YTD Net Profit of
$1,938,566 but is less than the prior YTD Net Profit of $3,093,302.
Water
November gallons of water sold are down 4% from the prior year. For further breakdown:
Residential use is up 1%
Commercial use is down 7%
Water Operating Revenues for November of $151,846 are behind prior year by 1% but are
favorable to budget by 8%. YTD is behind prior year by 9% and is unfavorable to budget by 1%.
Other Revenues of $55,967 are less than the prior year by 19% and are behind prior YTD by
28%. The main driver causing the prior YTD variance is Connection Fees. Other Revenues YTD
are favorable to budget by 56%.
Overall, Total Revenues of $207,814 are behind the prior year by 7% and are behind prior YTD
by 15%. YTD Total Revenues are favorable to budget by 9%.
Total Expenses of $226,449 are in line with the prior year as well as prior YTD. YTD is also
favorable to budget by 7%.
For November 2019, the Water Department has a Net Loss of ($18,635) and YTD Net Profit of
$344,245. This is ahead of the budgeted monthly Net Loss of ($65,073) but is slightly behind the
prior year monthly Net Loss of ($4,191). YTD is significantly ahead of the budgeted YTD Net Loss
of ($77,523) but is behind the prior YTD Net Profit of $829,998.
ATTACHMENTS:
Balance Sheet 11.2019
Summary Electric Statement of Revenues, Expenses and Changes in Net Position
11.2019
Summary Water Statement of Revenues, Expenses and Changes in Net Position 11.2019
Graphs Prior Year and YTD 2019
Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 11.2019
Detailed Water Statement of Revenues, Expenses and Changes in Net Position 11.2019
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130
131
132
Elk River Municipal Utilities Monthly Electrical Demand
75.0
70.0
65.0
60.0
55.0
50.0
Demand in MW
45.0
40.0
35.0
30.0
Month
20182019
Elk River Municipal Utilities Monthly Energy Purchases
34,000
29,000
24,000
19,000
Energy Purchases in MWH
14,000
Month
20182019
133
Elk River Municipal Utilities Monthly Total Electric Load
40,000
35,000
30,000
25,000
20,000
Electric Load in MWH
15,000
10,000
Month
20182019
Elk River Municipal Utilities Monthly Electric Sales
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
Sales in Dollars
$2,000,000
$1,500,000
$1,000,000
Month
20182019
134
Elk River Municipal Utilities Monthly Residential, Commercial & Industrial
Loads
25,000
20,000
15,000
10,000
Loads in MWH
5,000
-
Month
2018 Residential2019 Residential2018 Commercial
2019 Commercial2018 Industrial2019 Industrial
Elk River Municipal Utilities Monthly Residential, Commercial & Industrial
Sales
$2,500,000
$2,000,000
$1,500,000
$1,000,000
Sales in Dollars
$500,000
$0
Month
2018 Residential2019 Residential2018 Commercial
2019 Commercial2018 Industrial2019 Industrial
135
Elk River Municipal Utilities Monthly Water Pumpage
140
120
100
80
60
40
Pumpage in Million Gal.
20
0
Month
20182019
Elk River Municipal Utilities Peak Day Pumpage
6
5
4
3
illion Gal.
2
Peak Day in M
1
0
Month
20182019
136
Elk River Municipal Utilities Monthly Water Sales
140.0
120.0
100.0
80.0
60.0
40.0
Sales in Million Gal.
20.0
0.0
Month
20182019
Elk River Municipal Utilities Monthly Water Sales
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
Sales in Dollars
$100,000
$50,000
$0
Month
20182019
137
138
139
140
141
142
143
144
145
146
147