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5.2 ERMUSR 06-14-2005
III Elk River ' Municipal Utilities 13069 Orono Parkway phone: 763.441.2020 Elk River, MN 55330 Fax:763 4418099 June 3, 2005 I To: Elk River Municipal Utilities Commission Jerry Takle John Dietz Jim Tralle From: Bryan Adams ISubject: Monthly P & L Projections I At our May 2005 commission meeting, John Dietz asked some great questions concerning our electric profit/loss statements and why we showed a loss in May. Attached is a projected profit/loss statement for the electric and water department for the II) entire year of 2005. The bottom of these spread sheets reflect the monthly cash balance projections as well. I Also enclosed is a narrative explaining the details. Theresa Slominski will cover the details and any questions at our meeting. I I I • INN Elle. NB NIS 11111 Ell 11111 s MI 11111 111111 EN - 4. Mil Actual Actual Mar Apr May June July Aug Sep Oct Nov Dec w Z II 07 1,019,07292 970,17800 1,223,84000 1,139,02200 1,334,21500 1,552,167.00 1,636,27700 1,105,35400 1,118,13000 14,139,08219 w > m S3 14,694 58 14,500 00 14,500 00 14,500.00 14,500 00 14,500 00 14,500 00 14,500 00 14,500 00 174,816 37 cc 0 aw a.(,cC o m 29,374 72 29,374.72 29,374 72 29,374 72 29,374 72 29,374 72 29,374 72 29,374 72 29,374 72 352,496 64 a 2 o. U W 0 '22 1,014,052 72 1,267,714 72 1,182,896 72 1,378,089 72 1,596,041 72 1,680,151.72 1,149,228 72 1,162,004 72 14,666,395 20 150 00 150.00 100.00 100 00 100 00 100.00 200 00 200.00 5,844 45 1.000 00 9,000 00 9,000.00 9,000 00 9,000 00 9,000 00 9,000 00 9,000 00 117,624 86 18 90 61,192 00 56,951 10 66,710 75 77,608 35 81,813 85 55,267 70 55,906 50 739,222 89 n0 29,000.00 29,000 00 29,000 00 29,000 00 29,000 00 29,000 00 29,000.00 412,470 61 25,000 00 15,000 00 20,000 00 25,000 00 15,000 00 20,000 00 25,000.00 269,833 30 124,342 00 110,051 10 124,810 75 140,708 35 134,913 85 113,467 70 119,106 50 1,544,996 11 1,392,056 72 1,292,947.82 1,502,900 47 1,736,750 07 1,815,065 57 1,262,696 42 1,281,111.22 16,211,391 31 590,05400 1,050,451.00 1,172,83300 1,303,43700 785,13500 621,277.00 618,635.00 9,318,189 11 20,000 00 20,000 00 20,000.00 18,000.00 18,000 00 18,000 00 18,000 00 214,675 81 19,836 00 19,836 00 19,836 00 19,836 00 19,836.00 19,836 00 19,836 00 253,575 79 17,500.00 17,500 00 17,500 00 15,000.00 15,000 00 15,000 00 15,000 00 184,983 08 60,000 00 60,000 00 60,000 00 50,000.00 45,000.00 41,000 00 40,000 00 615,592 40 118,000 00 118,000 00 118,000.00 118.000 00 118,000 00 118,000 00 118,000 00 1,392,000 00 4,461.67 4,461 67 24,461.67 4,461 67 4,461 67 4,461 67 4,461 67 109,318 58 20,000 00 10,000 00 15,000.00 20,000 00 10,000 00 15,000 00 20,000 00 169,289 17 55,000 00 55,000 00 55,000 00 55,000.00 55,000 00 55,000 00 55,000 00 663,850 28 11,000 00 11,000 00 11,000 00 11,000 00 11,000.00 11,000 00 11,000.00 148,518 91 125,000 00 125,000 00 125,000 00 125,000 00 125,000 00 125,000 00 125,000 00 1,594,697 96 1,040,851 67 1,491,248 67 1,638,630 67 1,739,734 67 1,206,432.67 1,043,574 67 1,044,932.67 14,664,691 09 1,392,056.72 1,292,947 82 1,502,900 47 1,736,750 07 1,815,065 57 1,262,696 42 1,281,111 22 16,211,391 31 1,040,851.67 1,491,248 67 1,638,630 67 1,739,734 67 1,206,432 67 1,043,574 67 1,044,932 67 14,664,691 09 351,205.05 (198,300 85) (135,730 20) (2,984.60) 608,632.90 219,121 75 236,178 55 1,546,700 22 118,000.00 118,000 00 118,000.00 118,000.00 118,000 00 118,000 00 118,000 00 1,392,000 00 4,461 67 4,461 67 (50,338 33) 4,461.67 4,461 67 4,461 67 4,461 67 (14,644 97) (80,000.00) (80,000.00) (80,000.00) (70,000.00) (70,000 00) (70,000 00) (70,000 00) (897,978.21) (225,000 00) (325,000 00) (325,000 00) (325,000.00) (225,000 00) (225,000 00) (225,000 00) (3,046,838 31) (120,000 00) (350,000.00) (250,000 00) (150,000 00) (20,000 00) (15,000 00) (10,000 00) (1,074,891 78) (10,409 83) (10,409.83) (10,409 83) (10,409 83) (10,409.83) (10,409 83) (10,409 83) (299,950 14) 114,338 00 250,818.00 286,807 00 319,548 00 577,290.00 789,923 00 251,224.00 3,533,585 46 (103,000 00) (90,000.00) (41,000 00) (50,000 00) (70,000 00) (90,000 00) (110,000.00) (1,052,225 02) 49,594 89 (680,431 01) (487,671 36) (166,384 76) 912,974 74 721,096 59 184,454.39 85,757.25 1,963,574 43 1,283,143 42 795,472 06 629,087 30 1,542,062 04 2,263,158 63 2,447,613 02 ■ ■_�■ la III ■ 1.1 III 111 ■ a al a ■ ■ _ � a 111 Actual Actual Actual Actual Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec w > a ti -66.50 63,746 74 59,507 64 63,349 23 63,032 00 99,861 00 107,595 00 179,327.00 176,886 00 269,872 00 157,196.00 103,516 00 1,414,055.11 0 0 50 63,746 74 59,507.64 63,349 23 63,032.00 99,861 00 107,595.00 179,327 00 176,886 00 269,872 00 157,196.00 103,516 00 1,414,055.11 c u - t w - v, y a - v 3 O 8 1,054.79 3,422.73 2,574.05 23,000.00 2,000.00 1,80000 1,00000 50000 50000 1,000.00 1,000.00 37,851 57 ' 016 29 995.20 543 56 800.00 800 00 800 00 800 00 800 00 800 00 800 00 800 00 9,511 52 '‘0 00 36,345.00 96,437 50 28,000.00 28,000 00 28,000.00 28,000 00 28,000.00 28,000 00 28,000 00 28,000.00 502,152 50 40,762.93 99,555 11 51,800 00 30,800 00 30,600.00 29,800 00 29,300.00 29,300.00 29,800.00 29,800.00 549,515.59 90,270.57 162,904.34 114,832 00 130,661 00 138,195.00 209,127 00 206,186.00 299,172.00 186,996.00 133,316 00 1,963,570 70 13.04 1,460 62 1,000 00 800 00 800.00 800 00 800.00 800 00 800 00 800 00 12,534 88 59 66 36,652 07 21,000 00 21,000 00 21,000 00 21,000.00 21,000 00 21,000.00 21,000 00 21,000 00 267,287.00 37 84 15,241 71 15,000 00 12,000 00 13,000.00 11,000 00 8,000 00 9,000.00 12,000.00 20,000 00 158,922 54 00 00 60,000 00 60,000 00 60,000 00 60,000 00 60,000 00 60,000 00 60,000 00 60,000 00 60,000 00 710,000 00 65 33 9,865 33 9,865 33 9,865 33 9,865 33 9,865 33 9,865.33 9,865 33 9,865.33 9,865.33 164,148.60 61 00 461 00 500 00 500 00 500 00 500.00 500 00 500 00 500 00 500 00 5,942 76 86 62 2,478 64 400.00 400 00 400 00 400 00 400.00 400.00 7,000 00 400 00 14,137.88 51.45 36,138 52 23,000.00 23,000 00 23,000.00 23,000 00 23,000.00 23,000.00 23,000.00 23,000 00 320,846.38 74.94 162,297 89 130,765 33 127,565 33 128,565 33 126,565 33 123,565 33 124,565.33 134,165 33 135,565.33 1,653,820.04 20,000.00 70 57 162,904 34 114,832.00 130,661 00 138,195 00 209,127.00 206,186 00 299,172.00 186,996 00 133,316 00 1,963,570 70 74 94 162,297.89 130,765 33 127,565.33 128,565 33 126,565 33 123,565.33 124,565.33 134,165 33 135,565 33 1,653,820 04 04.37) 606 45 (15,933.33) 3,095.67 9,629.67 82,561.67 82,620.67 174,606.67 52,830 67 (2,249 33) 289,750.66 00.00 60,000 00 60,000 00 60,000.00 60,000 00 60,000.00 60,000.00 60,000.00 60,000 00 60,000 00 710,000 00 65.33 9,865 33 9,865 33 9,865 33 9,865 33 (42,134 67) 9,865 33 9,865.33 9,865 33 9,865 33 (32,269 08) 85.80) (13,159 58) (14,000 00) (14,500.00) (14,500.00) (14,500.00) (14,500.00) (13,000.00) (13,000 00) (13,000.00) (175,494 51) 38.25) (28,000 00) (28,000 00) (28,000 00) (28,000.00) (28,000 00) (28,000 00) (28,000 00) (28,000 00) (288,706.45) (10,000 00) (100,000 00) (155,000 00) (50,000.00) (10,000.00) (7,000.00) (7,000 00) (5,000 00) (374,555 00) (441,256 96) 69.92) (97,950 35) 68,317.23 31,171 00 60,266.00 26,268 00 70,441 00 35,014.00 180,676 00 121,680 00 594,035.57 21 50) (14,458 94) (8,000 00) (10,000 00) (10,000 00) (5,000 00) (5,000 00) (5,000.00) (5,000 00) (5,000 00) (113,188 72) 54 51) (55,097.09) 62,249.23 (48,368 00) (67,739.00) 29,195 00 165,427 00 226,486.00 250,372 00 138,296 00 168,315 52 33 03 1,151,835 95 1,214,085.18 1,165,717.18 1,097,978.18 1,127,173 18 1,292,600 18 1,519,086 18 1,769,458 18 1,907,754 18 I 11111 I YEAR TO DATE PROFIT AND LOSS NARRATIVE I ELECTRIC The year to date income for 2005 is $4,807,151.40, as compared to year to date income for 2004 of$4,336,376.45, is an increase of$470,774.95. The increase in income from 1 customers usage and rate increases is $339,180.46. The remainder is attributable to a $60,000 increase in Connection Fees, a $10,000 increase in Penalties, $35,000 in Security Sales (not reflected at all in 2004), and a $37,000 increase in Miscellaneous Sales (of I which $21,000 is from Connexus Energy.) There is a decrease in interest income comparing 2005 to 2004 because there were 4 Certificates of Deposit that matured in IApril of 2004 that were cashed in recognizing $26,770.64 in interest, and none cashed in year to date in 2005. IThe year to date expense for 2005 is $4,451,828.27, as compared to year to date for 2004 of$3,820,810.66, is an increase of$631,017.61. The largest increase in expenses relates to the associated increase in Power Costs from the customer use mentioned above, and I accounts for$221,721.53 of the increase. The second largest increase is in Depreciation, which accounts for $155,775.00 of the increase. The remaining increases are as follows: $14,000 increase in Landfill Gas Expense (no expense recognized Jan 2004), $41,000 in PI Security Expenses (not reflected at all in 2004), $52,000 in Interest (a large catch-up was don in December 2004), $20,000 in Donated Labor/Services to the City, $60,000 in Revenue Transfers (large catch-up was done in December 2004), and a $60,000 increase I in Administrative & General (insurance increases of$25,000 and payroll prior year's expenses of$35,000.) IWATER The year to date income for 2005 is $545,085.70, as compared to year to date income for I 2004 of$460,902.20, is an increase of$84,183.50. The largest part of this increase is in the Connection Fees, which increased $56,000. The remaining increase, $28,000, is from customer usage and rate increases. IThe year to date expense for 2005 is $626,978.86, as compared to year to date for 2004 of $307,180.02, is an increase of$319,798.84. The largest increase is depreciation, I accounting for $165,000 or 52% of the total increase. The remaining increases are as follows: $30,000 in Pumping Expense (increased maintenance on wells), $50,000 in Distribution (a 5% payroll split in 2004 and 25% split in 2005), $50,000 in I Administrative & General (5% 2004 split versus 25% 2005 split, as well as increased insurance premiums.) 14.h 1 1