5.1 ERMUSR 04-14-2020UTILITIES COMMISSION MEETING
TO:FROM:
ERMU Commission Melissa Karpinski –Finance Manager
MEETING DATE: AGENDA ITEM NUMBER:
April 14, 2020 5.1
SUBJECT:
Financial Report – February 2020
ACTION REQUESTED:
Receive the February 2020 Financial Report
DISCUSSION:
Please note that these are the preliminary unaudited financial statements.
Electric
February’selectric kWh sales are down from the prior year, 15%. For further breakdown:
Residential usageis down 21%
Small Commercial usage is down 16%
Large Commercial usage is down 11%
Electric Operating Revenues for February of $2,763,633 are less than prior year by 13% and
unfavorable to budget by 15%. FebruaryYTD isbehind prior year by 4% and unfavorable to
budget by 5%. The prior YTD variance is mainly due to Elk River Sales.
Other Revenues of $152,532 are less than the prior year by 12% and unfavorable to budget by
10%. Other Revenues YTD is more than the prior year by 6% and is favorable to budget by 10%.
Overall, Total Revenues of $2,889,166 are less than the prior year by 13% and unfavorable to
budget by 14%. YTD is less than the prior year by 3% and unfavorable to budget by 5%.
Purchased Power of $1,767,982 is less than the prior year by 3% and is favorable to budget by
14%. YTD is less than prior year by 8% and is favorable to budget by 7%.
Administrative Expenses of $248,085 are in line with the prior year and are favorable to budget
by 19%. YTD costs are more than the prior year by 5% but are favorable to budget by 8%. The
main drivers of the prior YTD variance are Salaries and Medical/Dental.
General Expenses of $38,070 are more than prior year by 44% but are favorable to budget by
10%. YTD costs are more than the prior year by 29% but are favorable to budget by 31%.
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Total expensesYTDare 4% less than prior year andare favorable to budget by 7%.
For February2020, the Electric Department has a Net Profitof $145,775and YTD NetProfit of
$450,277. This is behindthe budgeted monthly Net Profitof $269,643andis less thanprior
year monthly Net Profit of $569,543. YTD is ahead of the budgeted YTD Net Profit of $338,962
and is more than the prior YTD Net Profit of $445,091.
Water
February gallons of water sold are down 16% from the prior year. For further breakdown:
Residential use is down 17%
Commercial use is down 15%
Water Operating Revenues for February of $124,203 are behind prior year by 10% andare
unfavorable to budget by 10%. YTD is ahead of prior year by 2% and is favorable to budget by
1%.
Other Revenues of $130,350 are ahead of prior year by 123% and favorable to budget by 196%.
YTD is ahead of prior YTD by 44% and are favorable to budget by 92%. The main driver causing
the prior YTD variance is Connection Fees.
Overall, Total Revenues of $254,554 are ahead of prior year by 30% and are ahead of prior YTD
by 15%. YTD Total Revenues are favorable to budget by 24%.
Total Expenses of $214,293 are less than prior year by 2% and less than the prior YTD by 4%.
YTD is also favorable to budget by 16%.
r February 2020, the Water Department has a Net Profit of $40,260 and YTD Net Lossof
Fo
($15,543). This is ahead of the budgeted monthly Net Loss of ($71,722) and is ahead of the
prior year monthly Net Loss of ($23,481). YTD is significantly ahead of the budgeted YTD Net
Loss of ($183,357) andis ahead of the prior YTD Net Loss of ($91,701).
ATTACHMENTS:
Balance Sheet 02.2020
Summary Electric Statement of Revenues, Expenses and Changes in Net Position
02.2020
Summary Water Statement of Revenues, Expenses and Changes in Net Position 02.2020
Graphs Prior Year and YTD 2020
Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 02.2020
Detailed Water Statement of Revenues, Expenses and Changes in Net Position 02.2020
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167
168
169
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
20192020
Elk River Municipal Utilities Monthly Energy Purchases
34,000
29,000
24,000
19,000
Energy Purchases in MWH
14,000
Month
20192020
170
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
20192020
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
20192020
171
Elk River Municipal Utilities Monthly Residential, Commercial & Industrial
Loads
25,000
20,000
15,000
10,000
Loads in MWH
5,000
-
Month
2019 Residential2020 Residential2019 Commercial
2020 Commercial2019 Industrial2020 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
2019 Residential2020 Residential2019 Commercial
2020 Commercial2019 Industrial2020 Industrial
172
Elk River Municipal Utilities Monthly Water Pumpage
140
120
100
80
60
40
Pumpage in Million Gal.
20
0
Month
20192020
Elk River Municipal Utilities Peak Day Pumpage
5.0
4.5
4.0
3.5
3.0
2.5
illion Gal.
2.0
1.5
1.0
Peak Day in M
0.5
0.0
Month
20192020
173
Elk River Municipal Utilities Monthly Water Sales
120
$350,000
100
$300,000
80$250,000
$200,000
60
$150,000
Sales In Dollars
40
Sales in Million Gal.$100,000
20
$50,000
$0
0
Month
2019 MG2020 MG2019 $2020 $
174
175
176
177
178
179
180
181
182
183
184