5.2. ERMUSR 06-08-2004 Elk River
Municipal Utilities
13069 Orono Parkway phone: 763.441.2020
Elk River. MN 55330 Fax:763.441.8099
June 3,2004
To: Elk River Muncipal Utilities Commission
Jerry Takle
James Tralle
John Dietz
From: Bryan Adams
Subject: Springstad Cash Flow Studies
At our last months commission meeting,our auditors presented the results of their annual
utility audit. One of their comments was that staff continue the cash flow studies which project
future revenues and expenses to ensure we have adequate financial resources to carry on business.
Attached for your review are updated Springstad cash flow studies for both the electric and water
departments. These studies are updated twice annually, once after the annual audit and again
when the budget is adopted. Staff will go over these studies in detail at our meeting.
Our adopted 2004 budget contains a bond provision of$750,000 to pay for the construction of
the electric feeder we are now doing plus the cost of relocating electric lines in Otsego due to Hwy
101 Interchange construction. The electric department cash flow study reflects a$900,000 bond
in 2004. Staff recommends authorization be given to sell revenue bond for net proceeds of
$900,000.
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