5.1 ERMUSR 09-08-2020UTILITIES COMMISSION MEETING
TO:FROM:
ERMU Commission Melissa Karpinski –Finance Manager
MEETING DATE: AGENDA ITEM NUMBER:
September 8, 20205.1
SUBJECT:
Financial Report – July 2020
ACTION REQUESTED:
Receive the July 2020Financial Report
DISCUSSION:
Please note that these are the preliminary unaudited financial statements.
Electric
July’s electric kWhsales areupfrom the prior year, 26%. For further breakdown:
Residential usageis up57%
Small Commercial usage is up21%
Large Commercial usage is up11%
Electric Operating Revenues for Julyof $4,060,205are more than prior year by 24% and
favorable to budget by 21%. July YTD is ahead of prior year by 1% but unfavorable to budget by
1%. The prior YTD variance is mainly due to Elk River Residential Sales.
Other Revenues of $175,004 are less than the prior year by 16% butfavorable tobudgetby 5%.
Other Revenues YTD are more than the prior year by 2% and favorable to budget by 10%.
Overall, Total Revenues of $4,235,210 are more than the prior year by 21% and favorable to
budget by 21%. YTD is more than the prior year by 1% and is in line with budget.
Purchased Power of $2,781,902 is in line with the prior year but is unfavorable to budget by 4%.
YTD is less than prior year by 4% and is favorable to budget by 2%.
Administrative Expenses of $254,132 are more than the prior year by 6% but are favorable to
budget by 8%. YTD costs are more than the prior year by 12% but are favorable to budgetby
2%. The main driver of the prior YTD variance is the recognition of $160,583 in Salaries expense
due to COVID-19.
eral Expenses of $32,515 are more than prior year by 37% but are favorable to budget by
Gen
24%. YTD costs are more than the prior year by 7% but are favorable to budget by 33%.
______________________________________________________________________________
Page 1 of 2
38
Total expensesYTDare 2% less than prior year andare favorable to budget by 3%. The main
driver of the prior YTD variance is Purchased Power.
For July 2020, the Electric Department has a Net Profit of $477,470 and YTD Net Profit of
$929,562. This is ahead of the budgeted monthly Net Loss of ($166,481) and is more than prior
year monthly Net Loss of ($173,931). YTD is ahead of the budgeted YTD Net Profit of $431,135
and is more than the prior YTD Net Profit of $513,962.
Water
July gallons of water sold are up from the prior year, 62%. For further breakdown:
Residential use is up 80%
Commercial use is up 43%
Water Operating Revenues for July of $463,966 are ahead of prior year by 67% and are
favorable to budget by 63%. YTD is ahead of prior year by 25% and is favorable to budget by
23%. The prior YTD variance is mainly due to Elk River Residential Sales.
Other Revenues of $45,362 are behind prior year by 36% but favorable to budget by 3%. Other
revenues YTD are behind by 13% butare favorable to budget by 22%. The main driver causing
the prior YTD variance is Connection Fees.
Overall, Total Revenues of $509,329 are ahead of prior year by 46% and are ahead of prior YTD
by 15%. YTD Total Revenues are favorable to budget by 23%.
Total Expenses of $217,133 are ahead of prior year by 1% but are less than the prior YTD by 2%.
YTD is alsofavorable to budget by 12%.
For July 2020, the Water Department has a Net Profit of $292,134 and YTD Net Profit of
$222,132. This is ahead of the budgeted monthly Net Profit of $78,403and is ahead of the prior
year monthly Net Profit of $133,742. YTD is significantly ahead of the budgeted YTD Net Loss of
($326,435) and prior YTD Net Loss of ($43,665).
ATTACHMENTS:
Balance Sheet 07.2020
Summary Electric Statement of Revenues, Expenses and Changes in Net Position
07.2020
Summary Water Statement of Revenues, Expenses and Changes in Net Position 07.2020
Graphs Prior Year and YTD 2020
Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 07.2020
Detailed Water Statement of Revenues, Expenses and Changes in Net Position 07.2020
______________________________________________________________________________
Page 2 of 2
39
40
41
42
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
40,000
35,000
30,000
25,000
20,000
Energy Purchases in MWH
15,000
Month
20192020
43
Elk River Municipal Utilities Monthly Total Electric Load
40,000
35,000
30,000
25,000
Electric Load in MWH
20,000
15,000
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
44
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
45
Elk River Municipal Utilities Monthly Water Pumpage
160
140
120
100
80
60
Pumpage in Million Gal.
40
20
0
Month
20192020
Elk River Municipal Utilities Peak Day Pumpage
6.0
5.0
4.0
3.0
illion Gal.
2.0
Peak Day in M
1.0
0.0
Month
20192020
46
Elk River Municipal Utilities Monthly Water Sales
140
$500,000
$450,000
120
$400,000
100
$350,000
$300,000
80
$250,000
60
$200,000
Sales In Dollars
$150,000
40
Sales in Million Gal.
$100,000
20
$50,000
$0
0
Month
2019 MG2020 MG2019 $2020 $
47
48
49
50
51
52
53
54
55
56
57