5.1 ERMUSR 08-11-2020UTILITIES COMMISSION MEETING
TO:FROM:
ERMU Commission Melissa Karpinski –Finance Manager
MEETING DATE: AGENDA ITEM NUMBER:
August 11, 2020 5.1
SUBJECT:
Financial Report – June 2020
ACTION REQUESTED:
Receive the June 2020Financial Report
DISCUSSION:
Please note that these are the preliminary unaudited financial statements.
Electric
June’s electric kWh sales are down from the prior year, 5%. For further breakdown:
Residential usage is up 14%
Small Commercial usage is down 17%
Large Commercial usage is down 10%
Electric Operating Revenues for June of $2,934,564 are less than prior year by 3% and
unfavorable to budget by 4%. June YTD is behind prior year by 3% and unfavorable to budget by
5%. The prior YTD variance is mainly due to Elk River Commercial Sales.
Other Revenues of $188,005 are lessthan the prior year by 14% but favorable to budget by 2%.
Other Revenues YTD are more than the prior year by 6% and favorable to budget by 11%.
Overall, Total Revenues of $3,122,570 are less than the prior year by 3% and unfavorable to
budget by 4%. YTD is less than the prior year by 3% and unfavorable to budget by 4%.
Purchased Power of $2,349,426 is more than the prior year by 1% and is unfavorable to budget
by 2%. YTD is less than prior year by 5% and is favorable to budget by 3%.
Administrative Expenses of $271,082 are more than the prior year by 10% but are favorable to
budget by 6%. YTD costs are more than the prior year by 13% but are favorable to budget by
1%. The main driver of the prior YTD variance is the recognition of $160,583 in Salaries expense
due to COVID-19.
eral Expenses of $39,243 are more than prior year by 39% but are favorable to budget by
Gen
7%. YTD costs are morethan the prior year by 3% but are favorable to budget by 34%.
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Total expensesYTDare 2% less than prior year andare favorable to budget by 4%. The main
driver of the prior YTD variance is Purchased Power.
For June 2020, the Electric Department has a Net Loss of ($189,252) and YTD Net Profit of
$452,091. This is behind the budgeted monthly Net Loss of ($73,083) and is less than prior year
monthly Net Profit of $4,710. YTD is behind the budgeted YTD Net Profit of $597,616 and is less
than the prior YTD Net Profit of $687,894.
Water
June gallons of water sold are up from the prior year, 25%. For further breakdown:
Residential use is up 41%
Commercial use is up 9%
Water Operating Revenues for June of $257,927 are ahead of prior year by 28% and are
favorable to budget by 25%. YTD is ahead of prior year by 11% and is favorable to budget by
10%. The prior YTD variance is mainly due to Elk River Residential Sales.
Other Revenues of $52,008 are behind prior year by 45% but favorable to budget by 18%.
Other revenues YTD are behind by 8% but are favorable to budget by 25%. The main driver
causing the prior YTD variance is Connection Fees.
Overall, Total Revenues of $309,935 are ahead of prior year by 5% and are ahead of prior YTD
by 6%. YTD Total Revenues are favorable to budget by 13%.
Total Expenses of $236,584 are in line with the prior year and are less than the prior YTD by 3%.
YTD is alsofavorable to budget by 12%.
For June 2020, the Water Department has a Net Profit of $73,213 and YTD Net Loss of
($70,001). This is ahead of the budgeted monthly Net Profitof $2,286 andis ahead of the prior
year monthly Net Profit of $58,591. YTD is significantly ahead of the budgeted YTD Net Loss of
($404,838) and is ahead of the prior YTD Net Loss of ($177,407).
ATTACHMENTS:
Balance Sheet 06.2020
Summary Electric Statement of Revenues, Expenses and Changes in Net Position
06.2020
Summary Water Statement of Revenues, Expenses and Changes in Net Position 06.2020
Graphs Prior Year and YTD 2020
Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 06.2020
Detailed Water Statement of Revenues, Expenses and Changes in Net Position 06.2020
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51
52
53
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
54
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
55
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
56
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
57
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 $
58
59
60
61
62
63
64
65
66
67
68