Loading...
5.1. ERMUSR 02-12-2019 Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Theresa Slominski—Finance & Office Manager MEETING DATE: AGENDA ITEM NUMBER: February 12, 2019 5.1 SUBJECT: Financial Report—December 2018 ACTION REQUESTED: Receive the December 2018 Financial Report DISCUSSION: The 2018 Financial Report is presented for your review. Please note that these are the preliminary unaudited financial statements. Electric P&L December's electric kWh sales are down from the prior year, 2%. For further breakdown: • Residential usage is down 7% • Small Commercial usage is down 16% • Large Commercial usage is up 3% Electric Operating Revenue for December was$2,597,802, 7% ahead of the prior year but 5% below budget. YTD is ahead of prior YTD by 8% and ahead of budget YTD by 3%. Other Revenue of$181,563 is behind prior year by 13%, but 20%above prior YTD. Other Revenue is also 43%above YTD budget which is largely due to the Contribution from the City of Otsego for its street lights and interest on funds paid in advance for Minnesota Municipal Power Agency(MMPA) buy-in. Overall,Total Revenues of$2,779,366 are ahead of prior year by 6%and ahead of prior YTD by 8%. YTD Total Revenues are ahead of budget by 5%. Purchased Power of$2,055,335 is less than the prior year by 4%, and below budget by 4%. YTD costs are more than prior year by 5%, and are above YTD budget by 3%. Administrative Expenses of$244,043 are less than prior year by 28%, and are less than budget by 9%. YTD costs are more than prior year by 2%which is mainly driven by bond issuance services/fees, but are under budget by 9%. Page 1of2 41 General Expenses of$23,276 are 73% under budget, and are 56% under budget YTD. YTD General Expenses are 49% more than prior year with the main driver being a change in labor allocation. Total Expenses are 1% less than the prior year and 7% less than budget. YTD expenses are 6% more than prior YTD, but are in line with YTD budget. For December 2018, the Electric Department has a Net Loss of$195,039 but YTD Net Profit of $2,898,262. December's Net Loss is better than the budgeted monthly Net Loss of$328,725, and better than the prior year's monthly Net Loss of$391,233. YTD is significantly ahead of prior YTD Net Profit of$1,967,180, and budgeted YTD Net Profit of$1,045,274. Water P&L December gallons of water sold are down 11%from the prior year. For further breakdown: • Residential use down 11% • Commercial use down 11% Water Operating Revenue for December was$122,807, 5% behind prior year but ahead of YTD budget by 11% and ahead of prior YTD by 9%. Other Revenues of$66,311 are ahead of the prior year by 60%, but behind prior YTD by 7%. The main drivers causing the prior YTD variance are Contributions from Developers and Connection Fees. Other Revenues are ahead of YTD budget by 172%. Overall, Total Revenues of$189,118 are ahead of the prior year by 11%, and ahead of prior YTD by 3%with Water Sales being the driving force. YTD Total Revenues are ahead of budget by 35%. Expenses are less than the prior YTD by 7%, and are under YTD budget by 10%. For December 2018,the Water Department has a Net Profit of$70, which is ahead of last year's Net Loss of$301,731. December YTD Net Profit is $830,069, which is ahead of the prior YTD Net Profit of$530,190, and is significantly ahead of the budgeted YTD Net Loss of$394,245. ATTACHMENTS: • Balance Sheet 12.2018 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 12.2018 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 12.2018 • Graphs Prior Year and YTD 2019 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 12.2018 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 12.2018 Page 2 of 2 42 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING DECEMBER 2018 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 11,326,562 5,426,780 ACCOUNTS RECEIVABLE 1,815,956 306,606 INVENTORIES 804,935 15,115 PREPAID ITEMS 174,226 24,632 CONSTRUCTION IN PROGRESS 168,375 299,095 TOTAL CURRENT ASSETS 14,290,054 6,072,228 RESTRICTED ASSETS BOND RESERVE FUND 1,261,359 0 EMERGENCY RESERVE FUND 2,647,944 1,186,324 UNRESTRICTED RESERVE FUND 38,884 113,824 TOTAL RESTRICTED ASSETS 3,948,187 1,300,148 FIXED ASSETS PRODUCTION 645,285 13,539,819 LFG PROJECT 3,801,373 0 TRANSMISSION 2,301,867 0 DISTRIBUTION 39,858,822 22,754,372 GENERAL 10,449,424 1,026,164 FIXED ASSETS(COST) 57,056,771 37,320,356 LESS ACCUMULATED DEPRECIATION (27,760,033) (17,613,963) TOTAL FIXED ASSETS,NET 29,296,738 19,706,393 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 0 LOSS OF REVENUE INTANGIBLE 1,733,743 0 LESS ACCUMULATED AMORTIZATION (165,883) 0 TOTAL INTANGIBLE ASSETS,NET 23,114,072 0 OTHER ASSETS AND DEFERRED OUTFLOWS 909,715 176,807 TOTAL ASSETS 71,558,766 27,255,576 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 4,580,759 226,332 SALARIES AND BENEFITS PAYABLE 523,318 82,958 DUE TO CITY 706,573 1,444 DUE TO OTHER FUNDS 0 0 NOTES PAYABLE-CURRENT PORTION 200,916 0 BONDS PAYABLE-CURRENT PORTION 940,000 260,000 UNEARNED REVENUE 0 97,069 TOTAL CURRENT LIABILITIES 6,951,566 667,803 LONG TERM LIABILITIES LFG PROJECT 619,692 0 DUE TO COUNTY 0 0 BONDS PAYABLE,LESS CURRENT PORTION 21,055,881 874,455 PENSION LIABILITIES 2,890,601 556,723 TOTAL LONG TERM LIABILITIES 24,566,174 1,431,178 TOTAL LIABILITIES 31,517,740 2,098,981 DEFERRED INFLOWS OF RESOURCES 651,486 125,475 FUND EQUITY CAPITAL ACCOUNT CONST COST 1,261,359 0 CONTRIBUTED CAPITAL 0 0 RETAINED EARNINGS 35,229,923 24,201,051 NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 2,898,259 830,069 TOTAL FUND EQUITY 39,389,541 25,031,120 TOTAL LIABILITIES&FUND EQUITY 71,558,766 27,255,576 43 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 2,368,113 34,501,285 33,451,191 33,451,191 3 2,623,514 32,136,124 2,365,161 7 Otsego 181,063 2,743,053 2,696,680 2,696,680 2 205,785 2,598,562 144,490 6 Rural Big Lake 13,288 189,292 197,800 197,800 (4) 17,036 189,749 (457) 0 Dayton 15,459 223,964 231,456 231,456 (3) 17,730 220,413 3,550 2 Public St&Hwy Lighting 18,677 220,185 213,409 213,409 3 17,977 203,924 16,261 8 Generation and Sub Station Credit 1,200 4,800 3,600 3,600 33 400 4,800 0 0 Dispersed Generation Credit 0 (714,867) (694,616) (694,616) 3 (43,164) (779,598) 64,730 (8) Other Revenue/CIP/Rate Increase/AC Credit 0 (19,140) (13,500) (13,500) 42 (422,160) (39,543) 20,403 (52) Total Operating Revenue 2,597,802 37,148,572 36,086,021 36,086,021 3 2,417,120 34,534,433 2,614,139 8 Other Operating Revenue Interest/Dividend Income 15,805 330,107 80,000 80,000 313 8,183 79,542 250,564 315 Customer Penalties 13,457 199,753 250,000 250,000 (20) 17,578 242,739 (42,985) (18) LFG Project 85,725 1,128,793 1,128,878 1,128,878 0 87,549 1,084,589 44,203 4 Connection Fees 5,784 269,787 150,000 150,000 80 17,530 234,365 35,421 15 MiscRevenue 60,790 754,769 261,180 261,180 189 76,806 .593,461 161,308 27 Total Other Revenue 181,563 2,683,210 1,870,058 1,870,058 43 207,648 2,234,697 448,512 20 Total Revenue 2,779,366 39,831,783 37,956,080 37,956,080 5 2,624,768 36,769,131 3,062,652 8 Expenses Purchased Power 2,055,335 26,710,514 25,964,551 25,964,551 3 2,150,983 25,402,576 1,307,937 5 Operating&Mtce Expense 25,134 232,439 285,959 285,959 (19) 14,889 215,139 17,300 8 Landfill Gas 132,034 769,624 757,740 757,740 2 6,452 658,510 111,113 17 Transmission Expense 1,419 19,669 37,192 37,192 (47) 790 10,926 8,742 80 Distribution Expense 35,771 291,804 384,294 384,294 (24) 24,572 359,935 (68,131) (19) Maintenance Expense 118,549 1,309,907 1,283,319 1,283,319 2 134,070 1,060,326 249,580 24 Depreciation&Amortization 233,094 2,297,348 2,183,821 2,183,821 5 176,396 2,046,934 250,413 12 Interest Expense 57,097 382,000 351,103 351,103 9 23,872 294,219 87,780 30 Security 0 0 0 0 0 0 20 (20) (100) Other Operating Expense 1,726 57,707 114,471 114,471 50 (3,808) 61,768 (4,060) 7 Customer Accounts Expense (51,692) 227,406 349,148 349,148 (35) 20,457 266,991 (39,585) (15) Administrative Expense 244,043 3,024,861 3,333,718 3,333,718 (9) 337,687 2,970,771 54,089 2 General Expense 23,276 206,280 468,482 468,482 (56) 21,801 138,145 68,134 49 Total Expenses(before Operating Transfers) 2,875,790 35,529,561 35,513,799 35,513,799 0 2,908,166 33,486,266 2,043,295 6 Operating Transfer Operating Transfer/Other Funds 81,251 1,188,663 1,165,000 1,165,000 2 89,668 1,113,263 75,399 7 Utilities&Labor Donated 17,364 215,295 232,006 232,006 (7) 18,167 202,421 12,874 6 Total Operating Transfer 98,615 1,403,959 1,397,006 1,397,006 0 107,835 1,315,685 88,274 7 Net Income Profit(Loss) (195,039) 2,898,262 1,045,274 1,045,274 177 (391,233) 1,967,180 931,082 47 44 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Water DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 122,807 2,445,688 2,200,002 2,200,002 11 129,061 2,252,750 192,937 9 Total Operating Revenue 122,807 2,445,688 2,200,002 2,200,002 11 129,061 2,252,750 192,937 9 Other Operating Revenue Interest/Dividend Income 3,304 26,267 20,000 20,000 31 2,474 32,171 (5,904) (18) Customer Penalties 1,164 18,081 15,000 15,000 21 1,081 19,262 (1,181) (6) Connection Fees 41,734 768,861 125,600 125,600 512 11,408 797,572 (28,710) (4) Misc Revenue 20,109 244,432 227,612 227,612 7 26,483 289,875 (45,443) (16) Total Other Revenue 66,311 1,057,643 388,212 388,212 172 41,448 1,138,882 (81,238) (7) Total Revenue 189,118 3,503,331 2,588,215 2,588,215 35 170,510 3,391,632 111,699 3 Expenses Production Expense 2,749 53,135 50,000 50,000 6 2,309 42,916 10,218 24 Pumping Expense 45,527 484,583 599,548 599,548 (19) 45,538 457,472 27,110 6 Distribution Expense 14,541 231,519 263,185 263,185 (12) 7,556 154,309 77,210 50 Depreciation&Amortization 95,994 1,193,745 1,228,866 1,228,866 (3) 101,603 1,191,894 1,851 0 Interest Expense 3,429 41,864 41,864 41,864 0 4,142 50,354 (8,489) (17) Other Operating Expense 71 3,236 7,267 7,267 (55) 244,696 252,442 (249,206) (99) Customer Accounts Expense (20,926) 37,969 66,051 66,051 (43) 5,676 62,689 (24,720) (39) Administrative Expense 46,982 617,929 711,790 711,790 (13) 60,119 639,203 (21,274) (3) General Expense 679 9,279 13,388 13,388 (31) 600 10,160 (880) (9) Total Expenses(before Operating Transfers) 189,048 2,673,262 2,981,960 2,981,960 (10) 472,242 2,861,442 (188,179) (7) Operating Transfer Utilities&Labor Donated 0 0 500 500 (100) 0 0 0 0 Total Operating Transfer 0 0 500 500 (1001 0 0 0 0 Net Income Profit(Loss) 70 830,069 (394,245) (394,245) 311 (301,731) 530,190 299,878 57 45 Elk River Municipal Utilities Monthly Electrical Demand 70.0 65.0 ! •• 60.0 ► • • • 55.0 j n ► c ► ♦ :a 50.0 ■ • • m ♦�• ! • 40.0 35.0 30.0 , I I I I , T P aaaa6 0`aa�� 4asor PQs\ �a\ dace ���� J�JS` �ec,o�c o,oce` eoec ecoec �e P eQ o e, eo Month -+-2018 -t2019 Elk River Municipal Utilities Monthly Energy Purchases 34,000 29,000 A of I �, o ���" -AL, 'w---4...�y i 24,000 m y t V a 19,000 2 m c w 14,000 P P 6 6 ae ,�� e` es es aas , , Sbe ,8c) ,ee0e°J �� ha aQe P ,,e a Q o Co° \ Oe Month -4--2018 t2019 46 o ao & a 10 O N +' pu v�i s _� j h C N a 'O 2 2 iL— 2 ''0 y� 10 C W c0 13 V OI ir C L �^ (J z- d N c0 as 00 u v C co 3 m •�Et O W,O a+ C a+ y N c. O 47 "hfa a � -0 ID N > en 7 C E 3 co I � g 00 ga) O •t Ili► cm t a N a 4i y a fw 3 • Eg c Y Wu- w d 07 `� C 0 a. -0 a C g I!) �` N p� N > 0 C Ls lC O 6 N C i 'C jp ty WW pip N N � N 3 C C v O OD L '0 +.. 3 ,O N O CO 40 `'' '0 'dru v. Yco C .- U s cW a CD c ro '� e c E tp� Pil R a C . E • U 0.1 N to = N g� S O CO C g >- 'LO -' � i 2 E a v q w � N Z O E S 3 8 C C E c +, ao S a o CU § 00aa ° Uc 2 �g - 6 5 O Z C com N O 4., g N 45 0 w E 8 Tu a c c m ° " ,� a O p w C �p W� C -00 0 Y I' CS ~ N G y 7 0 rr to -pp V C N 0 g OCO L R,op -12 E Q c y3 c �, a ° gt g P! ,,; 'L,- E M IQ o 40 N N 4C I 1 .1 La g 07 00 QI '�-. V 0' t T+ w co c R 32 r0 E. M LrI j N 0 m y a 00 c c ii) N uj = 'fl L 7 O. 'D O j U) �,' m n .0 u �^ N W $ 13 E £ •2 P� ate.. N g .-e g ^ c c d Q E N d N 1O ° 13 C 1c CO c y c c E 9 o B m to ei o M 4 tn tn 6 " ^ rl Q N M N in N n .-1 z 4 0N, .4 00 y~j M s op .Z co 1+ N to' di N N 0 N r+ HANDOUT AT MEETING PROVIDED BY CHAIR DIETZ ERMU-Net Margins 2003-2017 Electric Net Margin Revenue %Margin 2017 $1,967,174 $36,753,976 5.4% 2016 $1,888,424 $34,836,902 5.4% 2015 $2,089,068 $32,818,965 6.4% 2014 $1,329,102 $31,694,659 4.2% 2013 $1,906,667 $31,110,588 6.1% 2012 $2,120,045 $30,521,222 6.9% 2011 $1,322,008 $28,771,681 4.6% 2010 $872,070 $26,930,931 3.2% 2009 $569,495 $24,424,185 2.3% 2008 $1,045,379 $23,525,238 4.4% 2007 $1,631,598 $20,688,862 7.9% 2006 $1,575,966 $18,075,670 8.7% 2005 $1,263,031 $16,533,421 7.6% 2004 $1,112,037 $14,755,509 7.5% 2003 $1,581,970 $13,829,484 • 11.4% Water Net Margin Revenue %Margin 2017 $530,193 $3,384,188 15.7% 2016 $595,747 $2,826,824 21.1% 2015 $433,377 $2,782,969 15.6% 2014 $710,399 $2,865,228 24.8% 2013 $503,063 $2,819,171 17.8% 2012 $462,933 $2,768,203 16.7% 2011 $308,801 $2,141,788 14.4% 2010 $346,454 $2,454,092 14.1% 2009 $65,939 $2,434,646 2.7% 2008 ($45,262) $2,427,455 -1.9% 2007 $745,543 $3,109,701 24.0% 2006 $1,591,984 $3,735,479 42.6% 2005 $701,210 $2,826,377 24.8% 2004 $1,778,967 $3,621,992 49.1% 2003 $87,835 $1,829,413 4.8% Elk River Municipal Utilities Monthly Total Electric Load 40,000 - 35,000 A+ • I i + 30,000 °� + 0 25,000 ,�������- J U 'C a�i 20,000 W 15,000 10,000 6 6 6\ aA c\e J541/4' sec sec sec sec Month ca -+-2018 -I-2019 Elk River Municipal Utilities Monthly Electric Sales $4,500,000 $4,000,000 0 `++ Ilk $3,500,000 —.0 i +• ++ R $3,000,000 0— • I ce• 0 . it' %% o 'ate..y,� .� % 4. $2,500,000 N d as $2,000,000 $1,500,000 $1,000,000 e c Q � 1 �(J0lP I A ,�e( Ooo .." ae�ea Q Month co° \-\o Oe -4--2018 -.-2019 47 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 25,000 20,000 0.X..- 15,000 iK---- I 2 .__ 10,000 ,r'°`% coi��•. -(Ts __ . -.` -_r°----. 5,000 *-_-yip---•11- «.1r---. - -.f«- - . - ----14 -- Lr --A . ¢ P 5eg O �o� Oeo Month -4--2018 Residential —E-2019 Residential -*--2018 Commercial — —2019 Commercial --c--2018 Industrial —ID—2019 Industrial Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $2,500,000 $2,000,000 --- �� ` •�` i' I .�` ° %X �� ` o ` A , It) $1,000,000 . `: # e `+�___�_ o $500,000 ,- .., --- --- -- -4*----Ar- -k- ,k�-,._yl► $0 °Jm1 e_`Jac� he'd Q- �a� �J�e ��� Re �e��e` oG�ooe� ,ecC\ a��oe` Q oeQ \o Qe Month -4--2018 Residential t2019 Residential -4--2018 Commercial -4—2019 Commercial -43K--2018 Industrial 2019 Industrial 48 Elk River Municipal Utilities Monthly Water Pumpage 140 _-1 To 'i.....--get% 0 i- ` c 100 _ .i 80 • i ._ I `. CD m 60 i 1k` a 40 --III %"'4----'� ♦ , -0----# 20 e es es es Month - -2018 -.-2019 Elk River Municipal Utilities Peak Day Pumpage 6 _ _ 5 4 •` 0 i �f C i •` o / •` 3 / I • c I •• i co a 1 ' co c e es es es coeQ �o Oe Month -4-2018 f2019 49 Elk River Municipal Utilities Monthly Water Sales 140.0 120.0 A I ♦♦ ♦ 100.0 i Cu fr,._ i • c 80.0 / _� ♦♦ ♦ _ et ♦` 60.0 i i 4..♦ . y N40.0 5 '�� / 20.0 0.0 , Qe P eQ� O �, e° coO Month -4--2018 {-2019 Elk River Municipal Utilities Monthly Water Sales $450,000 - $400,000 i' ♦♦♦♦ $350,000 ;o •♦ilt In $300,000 it—... ♦♦ 1° i ♦ o $250,000 enI ♦ • c i 'y $200,000 m i ♦ To $150,000 �. *.�.. $100,000 $50,000 (<e P co p69 �o4 Oe° Month —+--2018 -}2019 50 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 440.4411 ELECT SALES/ELK RIVER RES 859,365 11,940,603 11,311,745 11,311,745 6 962,963 10,856,611 1,083,991 10 440.4412 ELECT SALES/ER NON-DEMAND 222,308 3,212,643 3,322,359 3,322,359 (3) 279,170 3,218,485 (5,841) 0 440.4413 ELECT SALES/ER DEMAND 1,286,439 19,348,038 18,817,086 18,817,086 3 1,381,380 18,061,027 1,287,011 7 Total For Elk River: 2,368,113 34,501,285 33,451,191 33,451,191 3 2,623,514 32,136,124 2,365,161 7 Otsego 440.4416 ELECT SALES/OTSEGO RES 83,782 1,251,920 1,236,960 1,236,960 1 103,650 1,193,247 58,673 5 440.4417 ELECT SALES/OTSEGO NON-DEM 25,812 451,811 450,676 450,676 0 31,168 430,346 21,464 5 440.4418 ELECT SALES/OTSEGO DEMAND 71,468 1,039,321 1,009,043 1,009,043 3 70,967 974,968 64,353 7 Total For Otsego: 181,063 2,743,053 2,696,680 2,696,680 2 205,785 2,598,562 144,490 6 Rural Big Lake 440.4421 ELECT SALESBIG LAKE RES 13,150 185,373 193,485 193,485 (4) 16,879 185,620 (246) 0 440.4422 ELECT SALESBL NON-DEMAND 138 3,918 4,315 4,315 (9) 157 4,129 (211) (5) Total For Rural Big Lake: 13,288 189,292 197,800 197,800 (4) 17,036 189,749 (457) 0 Dayton 440.4431 ELECT SALES/DAYTON RES 13,082 187,668 194,263 194,263 (3) 15,100 184,882 2,786 2 440.4432 ELECT SALES/DAYTON NON-DEM 2,377 36,296 37,193 37,193 (2) 2,629 35,531 764 2 Total For Dayton: 15,459 223,964 231,456 231,456 (3) 17,730 220,413 3,550 2 Public St&Hwy Lighting 440.4414 ELECT SALES/ELK RIVER SEC LTS 18,677 220,185 213,409 213,409 3 17,977 203,924 16,261 8 Total For Public St&Hwy Lighting: 18,677 220,185 213,409 213,409 3 17,977 203,924 16,261 8 Generation and Sub Station Credit 440.4550 SUB-STATION CREDIT 1,200 4,800 3,600 3,600 33 400 4,800 0 0 Total For Generation and Sub Station Credit: 1,200 4,800 3,600 3,600 33 400 4,800 0 0 Dispersed Generation Credit 440.4552 DISPERSED GENERATION CREDIT 0 (714,867) (694,616) (694,616) 3 (43,164) (779,598) 64,730 (8) Total For Dispersed Generation Credit: 0 (714,867) (694,616) (694,616) 3 (43,164) (779,598) 64,730 (8) Other Revenue/CIP/Rate Increase/AC Credit 440.4554 RATE INCREASE 0 0 0 0 0 (422,160) 0 0 0 440.4555 A/C CREDIT 0 (19,140) (13,500) (13,500) 42 0 (39,543) 20,403 (52) 51 • ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Total For Other Revenue/CIP/Rate Increase/AC Credit: 0 (19,140) (13,500) (13,500) 42 (422,160) (39,543) 20,403 (52) Total Operating Revenue 2,597,802 37,148,572 36,086,021 36,086,021 3 2,417,120 34,534,433 2,614,139 8 Other Operating Revenue Interest/Dividend Income 460.4691 INTEREST&DIVIDEND INCOME 15,805 330,107 80,000 80,000 313 8,183 79,542 250,564 315 Total For Interest/Dividend Income: 15,805 330,107 80,000 80,000 313 8,183 79,542 250,564 315 Customer Penalties 470.4701 CUSTOMER DELINQUENT PENALT 13,457 199,753 250,000 250,000 (20) 17,578 242,739 (42,985) (18) Total For Customer Penalties: 13,457 199,753 250,000 250,000 (20) 17,578 242,739 (42,985) (18) LFG Project 470.4721 LFG PROJECT 85,725 1,128,793 1,128,878 1,128,878 0 87,549 1,084,589 44,203 4 Total For LFG Project: 85,725 1,128,793 1,128,878 1,128,878 0 87,549 1,084,589 44,203 4 Connection Fees 470.4702 DISCONNECT&RECONNECT CHA 5,784 269,787 150,000 150,000 80 17,530 234,365 35,421 15 Total For Connection Fees: 5,784 269,787 150,000 150,000 80 17,530 234,365 35,421 15 Misc Revenue 470.4703 MISC ELEC REVENUE-TEMP CHG 350 2,150 0 0 0 0 6,572 (4,422) (67) 470.4704 STREET LIGHT 0 33,000 0 0 0 4,850 24,700 8,300 34 470.4715 TRANSMISSION INVESTMENTS 27,525 274,426 125,000 125,000 120 28,905 159,589 114,836 72 470.4722 MISC NON-UTILITY 4,714 51,601 40,000 40,000 29 7,099 151,246 (99,644) (66) 470.4723 GAIN ON DISPOSITION OF PROP 0 16,000 0 0 0 10,000 15,152 848 6 470.4739 PERA PENSION OTHER REVENUE 0 0 0 0 0 1,050 1,050 (1,050) (100) 470.4750 RENTAL PROPERTY INCOME 2,020 25,487 9,180 9,180 178 2,060 26,100 (612) (2) 470.4770 CONTRIBUTIONS FROM CUSTOME 26,180 352,104 77,000 77,000 357 3,200 169,051 183,052 108 470.4780 CONTRIBUTIONS FROM GRANTS 0 0 10,000 10,000 (100) 19,641 40,000 (40,000) (100) Total For Misc Revenue: 60,790 754,769 261,180 261,180 189 76,806 593,461 161,308 27 Total Other Revenue 181,563 2,683,210 1,870,058 1,870,058 43 207,648 2,234,697 448,512 20 Total For Total Other Revenue: 181,563 2,683,210 1,870,058 1,870,058 43 207,648 2,234,697 448,512 20 Total Revenue 2,779,366 39,831,783 37,956,080 37,956,080 5 2,624,768 36,769,131 3,062,652 8 52 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Expenses Purchased Power 540.5551 PURCHASED POWER 2,055,335 26,710,514 25,964,551 25,964,551 3 2,150,983 25,402,576 1,307,937 5 Total For Purchased Power: 2,055,335 26,710,514 25,964,551 25,964,551 3 2,150,983 25,402,576 1,307,937 5 Operating&Mtce Expense 540.5461 OPERATING SUPERVISION 6,518 97,581 125,000 125,000 (22) 7,280 98,581 (999) (1) 540.5471 DIESEL OIL FUEL 1,625 12,390 15,277 15,277 (19) 419 11,383 1,007 9 540.5472 NATURAL GAS 3,467 24,212 23,480 23,480 3 3,821 22,999 1,213 5 540.5483 STATION PWR&WTR CONSP/PLA 3,524 32,508 32,000 32,000 2 138 26,970 5,537 21 540.5484 OTHER EXP/PLANT SUPPLIES-ETC 593 4,928 3,000 3,000 64 198 1,905 3,023 159 540.5491 MISC OTHER PWR GENERATION E 953 8,919 5,026 5,026 77 384 4,718 4,201 89 540.5521 MAINTENANCE OF STRUCTURE/P 2,200 23,123 30,082 30,082 (23) 1,422 20,749 2,373 11 540.5531 MTCE OF ENGINES/GENERATORS- 2,040 7,985 37,035 37,035 (78) 294 22,148 (14,162) (64) 540.5541 MTCE OF PLANT/LAND IMPROVE 4,210 20,788 15,059 15,059 38 928 5,682 15,105 266 Total For Operating&Mtce Expense: 25,134 232,439 285,959 285,959 (19) 14,889 215,139 17,300 8 Landfill Gas 550.5050 LFG PURCHASED GAS 13,039 163,424 172,565 172,565 (5) 12,594 156,612 6,812 4 550.5051 LANDFILL GAS O&M 92,426 560,859 520,000 520,000 8 (32,251) 451,488 109,370 24 550.5052 LFG ADMIN 25,155 27,821 38,800 38,800 (28) 25,149 32,838 (5,017) (15) 550.5053 LFG INSURANCE 1,412 16,308 20,375 20,375 (20) 1,312 16,199 109 1 550.5054 LFG MTCE 0 1,210 6,000 6,000 (80) (352) 1,372 (161) (12) Total For Landfill Gas: 132,034 769,624 757,740 757,740 2 6,452 658,510 111,113 17 Transmission Expense 560.5620 TRANSMISSION MTCE AND EXPE 1,419 19,669 37,192 37,192 (47) 790 10,926 8,742 80 Total For Transmission Expense: 1,419 19,669 37,192 37,192 (47) 790 10,926 8,742 80 Distribution Expense 580.5801 REMOVE EXISTING SERV&METE 0 1,468 2,503 2,503 (41) 0 642 826 129 580.5821 SCADA EXPENSES 6,475 26,747 30,023 30,023 (11) 150 22,001 4,745 22 580.5831 TRANSFORMER EX/OVERHD&UN 3,528 18,535 25,000 25,000 (26) 729 17,431 1,104 6 580.5851 MTCE OF SIGNAL SYSTEMS 0 2,566 2,512 2,512 2 494 2,982 (416) (14) 580.5861 METER EXP-REMOVE&RESET 0 479 2,507 2,507 (81) 0 748 (268) (36) 580.5871 TEMP SERVICE-INSTALL&REMO 26 1,385 2,514 2,514 (45) 82 5,866 (4,480) (76) 580.5881 MISC DISTRIBUTION EXPENSE 25,740 240,621 315,635 315,635 (24) 20,699 307,846 (67,225) (22) 53 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% 580.5890 INTERCONNECTION CARRYING C 0 0 3,600 3,600 (100) 2,416 2,416 (2,416) (100) Total For Distribution Expense: 35,771 291,804 384,294 384,294 (24) 24,572 359,935 (68,131) (19) Maintenance Expense 590.5911 MTCE OF STRUCTURES 609 4,005 7,510 7,510 (47) 0 3,169 836 26 590.5921 MTCE OF SUBSTATIONS 2,787 22,454 25,081 25,081 (10) 1,650 18,752 3,701 20 590.5922 MTCE OF SUBSTATION EQUIPME 3,479 11,170 35,000 35,000 (68) 1,644 4,184 6,986 167 590.5931 MTCE OF OVERHD LINES/TREE TR 10,925 184,783 150,335 150,335 23 28,086 100,279 84,504 84 590.5932 MTCE OF OVERHD LINES/STANDB 3,036 28,921 30,000 30,000 (4) 2,118 27,286 1,634 6 590.5933 MTCE OF OVERHEAD 3,220 143,499 190,641 190,641 (25) 11,443 138,893 4,606 3 590.5941 MTCE OF UNDERGROUND/DISTRI 30,857 131,004 118,438 118,438 11 1,617 76,706 54,297 71 590.5943 LOCATE ELECTRIC LINES 3,038 46,143 55,297 55,297 (17) 2,338 61,684 (15,540) (25) 590.5951 MTCE OF LINE TRANSFORMERS 3,224 75,299 50,271 50,271 50 12,606 56,010 19,289 34 590.5961 MTCE OF STREET LIGHTING 7,183 49,972 40,750 40,750 23 7,236 38,947 11,025 28 590.5962 MTCE OF SECURITY LIGHTING (586) 9,092 13,000 13,000 (30) 2,922 15,339 (6,246) (41) 590.5971 MTCE OF METERS 6,524 129,496 110,000 110,000 18 15,590 131,071 (1,575) (1) 590.5972 VOLTAGE COMPLAINTS 0 5,632 8,029 8,029 (30) 0 5,908 (276) (5) 590.5981 SALARIES/TRANS&DISTRIBUTIO 2,465 36,759 50,208 50,208 (27) 2,767 36,360 399 1 590.5985 ELECTRIC MAPPING 8,986 115,818 105,506 105,506 10 11,588 69,735 46,082 66 590.5991 MTCE OF OVERHEAD SERVICE/2N 638 15,826 17,500 17,500 (10) 882 17,465 (1,639) (9) 590.5992 MTCE OF UNDERGROUND ELEC S 17,515 45,257 40,157 40,157 13 1,930 37,402 7,855 21 590.5993 LOCATE UNDERGROUND SECOND 1,320 31,262 40,000 40,000 (22) 1,268 33,628 (2,366) (7) 590.5995 TRANSPORTATION EXPENSE 13,321 223,505 195,596 195,596 14 28,378 187,499 36,005 19 Total For Maintenance Expense: 118,549 1,309,907 1,283,319 1,283,319 2 134,070 1,060,326 249,580 24 Depreciation&Amortization 595.8031 DEPRECIATION 233,094 2,297,348 2,183,821 2,183,821 5 176,396 2,046,934 250,413 12 Total For Depreciation&Amortization: 233,094 2,297,348 2,183,821 2,183,821 5 176,396 2,046,934 250,413 12 Interest Expense 596.8071 INTEREST ON BONDS/LONG TERM 61,386 430,644 401,802 401,802 7 28,105 345,014 85,630 25 596.8075 INTEREST ON DEFEASED BONDS (276) (3,316) (3,316) (3,316) 0 (276) (3,316) 0 0 597.8281 AMORTIZATION OF DEBT DISCOU (4,012) (45,327) (47,381) (47,381) (4) (3,956) (47,477) 2,149 (5) Total For Interest Expense: 57,097 382,000 351,103 351,103 9 23,872 294,219 87,780 30 Security 597.8172 SECURITY EXPENSE 0 0 0 0 0 0 20 (20) (100) 54 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Total For Security: 0 0 0 0 0 0 20 (20) (100) Other Operating Expense 597.8165 EV CHARGING EXPENSE 407 3,686 3,000 3,000 23 14,938 15,404 (11,717) (76) 597.8213 LOSS ON DISPOSITION OF PROP(C 0 20,962 0 0 0 0 0 20,962 0 597.8263 OTHER DONATIONS 0 2,238 5,003 5,003 (55) 0 53,584 (51,345) (96) 597.8264 DAM MAINTENANCE EXPENSE 0 0 500 500 (100) (323) 0 0 0 597.8265 MUTUAL AID 0 1,281 0 0 0 0 0 1,281 0 597.8302 PENSION EXPENSE 0 0 100,000 100,000 (100) (18,636) (18,636) 18,636 (100) 597.8341 INTEREST PD ON METER DEPOSIT 1,174 20,816 1,000 1,000 1,982 69 786 20,030 2,545 597.8400 RENTAL PROPERTY EXPENSE 144 8,720 4,968 4,968 76 144 10,629 (1,908) (18) Total For Other Operating Expense: 1,726 57,707 114,471 114,471 50 (3,808) 61,768 (4,060) 7 Customer Accounts Expense 900.9021 METER READING EXPENSE 1,683 21,271 40,148 40,148 (47) 1,995 27,066 (5,794) (21) 900.9030 COLLECTING EXP DISC/RECONNE 888 13,694 14,000 14,000 (2) 457 13,812 (118) (1) 900.9051 MISC CUSTOMER ACCTS EXP-CO 21,029 255,891 250,000 250,000 2 21,602 228,391 27,500 12 900.9061 CUST BLGS NOT PD/SENT FOR CO (75,295) (63,451) 45,000 45,000 (241) (3,597) (2,279) (61,171) 2,683 Total For Customer Accounts Expense: (51,692) 227,406 349,148 349,148 (35) 20,457 266,991 (39,585) (15) Administrative Expense 920.9201 SALARIES/OFFICE&COMMISSION 49,007 598,366 789,461 789,461 (24) 96,075 732,850 (134,483) (18) 920.9205 TEMPORARY STAFFING 0 13,596 4,000 4,000 240 0 0 13,596 0 920.9211 OFFICE SUPPLIES&EXPENSE 12,393 77,088 90,000 90,000 (14) 526 72,907 4,181 6 920.9212 LT&WATER CONSUMPTION/OFFI 2,077 27,942 32,000 32,000 (13) 3,131 37,748 (9,805) (26) 920.9213 BANK CHARGES 185 2,684 3,500 3,500 (23) 351 2,825 (140) (5) 920.9221 LEGAL FEES 2,116 35,893 30,000 30,000 20 1,834 27,230 8,662 32 920.9231 AUDITING FEES 1,500 16,400 15,600 15,600 5 1,688 26,972 (10,572) (39) 920.9241 INSURANCE 9,761 152,623 135,810 135,810 12 7,897 146,855 5,767 4 920.9260 UTILITY SHARE DEF COMP 4,130 73,558 57,000 57,000 29 57,805 109,686 (36,127) (33) 920.9261 UTIL SH OF MEDICAL/DENTAL/DI 49,557 634,702 710,000 710,000 (11) 49,563 660,177 (25,474) (4) 920.9262 UTILITY SHARE OF PERA 16,882 221,038 240,000 240,000 (8) 15,771 212,634 8,403 4 920.9263 UTILITY SHARE OF FICA 17,341 209,270 230,000 230,000 (9) 15,514 201,094 8,176 4 920.9264 EMPLOYEES SICK PAY 8,413 110,089 110,000 110,000 0 11,270 102,654 7,434 7 920.9265 EMPLOYEE HOLIDAY PAY 23,691 123,508 109,370 109,370 13 0 0 123,508 0 920.9266 EMPLOYEE VACATION 14,890 205,312 186,225 186,225 10 42,563 309,671 (104,359) (34) 55 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% 920.9267 UPMIC DISTRIBUTION 6,369 48,416 0 0 0 0 0 48,416 0 920.9291 CONSULTING FEES 750 52,986 135,000 135,000 (61) 0 49,511 3,474 7 920.9301 TELEPHONE 1,675 20,403 21,168 21,168 (4) 406 19,676 726 4 920.9302 ADVERTISING 2,399 28,238 18,000 18,000 57 14,039 24,111 4,127 17 920.9303 DUES&SUBSCRIPTIONS-FEES 7,194 218,371 184,000 184,000 19 7,045 86,233 132,138 153 920.9304 TRAVEL EXPENSE 0 5,235 0 0 0 0 23,832 (18,596) (78) 920.9305 SCHOOLS&MEETINGS 13,272 143,971 221,584 221,584 (35) 13,062 117,131 26,839 23 920.9321 MTCE OF GEN PLANT/OFF HEATIN 430 5,160 11,000 11,000 (53) (861) 6,965 (1,805) (26) Total For Administrative Expense: 244,043 3,024,861 3,333,718 3,333,718 (9) 337,687 2,970,771 54,089 2 General Expense 920.9269 CIP REBATES-RESIDENTIAL 870 8,125 17,250 17,250 (53) (2,673) 8,994 (869) (10) 920.9270 CIP REBATES-COMMERCIAL 0 245 104,000 104,000 (100) 15,717 35,541 (35,296) (99) 920.9271 CIP-ADMINISTRATION 45 695 177,603 177,603 (100) 5,923 6,418 (5,723) (89) 920.9272 CIP-MARKETING 192 7,507 32,600 32,600 (77) 59 9,778 (2,271) (23) 920.9273 CIP-LABOR 10,543 137,261 106,079 106,079 29 3,857 50,796 86,464 170 920.9274 CIP REBATES-LOW INCOME 0 0 2,638 2,638 (100) (5,609) 0 0 (100) 920.9275 CIP-LOW INCOME LABOR 368 13,604 0 0 0 0 0 13,604 0 920.9281 ENVIRONMENTAL COMPLIANCE 2,310 27,895 25,264 25,264 10 1,982 24,334 3,561 15 920.9306 MISC GENERAL EXPENSE 8,945 10,945 3,048 3,048 259 2,543 2,280 8,665 380 Total For General Expense: 23,276 206,280 468,482 468,482 (56) 21,801 138,145 68,134 49 Total Expenses(before Operating Transfers) 2,875,790 35,529,561 35,513,799 35,513,799 0 2,908,166 33,486,266 2,043,295 6 Operating Transfer Operating Transfer/Other Funds 597.8262 TRANSFER TO CITY 4%ER REVEN 81,251 1,188,663 1,165,000 1,165,000 2 89,668 1,113,263 75,399 7 Total For Operating Transfer/Other Funds: 81,251 1,188,663 1,165,000 1,165,000 2 89,668 1,113,263 75,399 7 Utilities&Labor Donated 597.8261 UTILITIES&LABOR DONATED 17,364 215,295 232,006 232,006 (7) 18,167 202,421 12,874 6 Total For Utilities&Labor Donated: 17,364 215,295 232,006 232,006 (7) 18,167 202,421 12,874 6 Total Operating Transfer Total For Total Operating Transfer: 98,615 1,403,959 1,397,006 1,397,006 0 107,835 1,315,685 88,274 7 Net Income Profit(Loss) (195,039) 2,898,262 1,045,274 1,045,274 177 (391,233) 1,967,180 931,082 47 58 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Water DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 610.6101 WATER SALES RESIDENTIAL 122,807 2,445,688 2,200,002 2,200,002 11 129,061 2,252,750 192,937 9 Total For Water Sales: 122,807 2,445,688 2,200,002 2,200,002 11 129,061 2,252,750 192,937 9 Total Operating Revenue 122,807 2,445,688 2,200,002 2,200,002 11 129,061 2,252,750 192,937 9 Total For Total Operating Revenue: 122,807 2,445,688 2,200,002 2,200,002 11 129,061 2,252,750 192,937 9 Other Operating Revenue Interest/Dividend Income 460.4691 INTEREST&DIVIDEND INCOME 2,837 25,334 20,000 20,000 27 2,045 31,313 (5,979) (19) 460.4692 OTHER INT/MISC REVENUE 466 933 0 0 0 428 857 75 9 Total For Interest/Dividend Income: 3,304 26,267 20,000 20,000 31 2,474 32,171 (5,904) (18) Customer Penalties 620.6301 CUSTOMER PENALTIES 1,164 18,081 15,000 15,000 21 1,081 19,262 (1,181) (6) Total For Customer Penalties: 1,164 18,081 15,000 15,000 21 1,081 19,262 (1,181) (6) Connection Fees 620.6401 WATER/ACCESS/CONNECTION FE 37,877 716,809 100,000 100,000 617 9,549 743,341 (26,531) (4) 620.6402 CUSTOMER CONNECTION FEES 3,857 37,298 20,000 20,000 86 1,859 54,230 (16,932) (31) 620.6407 BULK WATER SALES/HYDRANT R 0 14,754 5,600 5,600 163 0 0 14,754 0 Total For Connection Fees: 41,734 768,861 125,600 125,600 512 11,408 797,572 (28,710) (4) Misc Revenue 470.4722 MISC NON-UTILITY 121 384 0 0 0 0 102 281 276 470.4739 PERA PENSION OTHER REVENUE 0 0 0 0 0 202 202 (202) (100) 470.4750 RENTAL PROPERTY INCOME 505 6,371 2,295 2,295 178 515 6,525 (153) (2) 620.6323 GAIN ON DISPOSITION OF PROP 0 7,425 0 0 0 7,000 7,448 (23) 0 620.6403 MISCELLANEOUS REVENUE 0 97 0 0 0 0 598 (501) (84) 620.6404 HYDRANT MAINTENANCE PROGR 979 11,837 7,000 7,000 69 974 9,197 2,639 29 620.6405 CONTRIBUTIONS FROM DEVELOP 0 0 0 0 0 0 55,882 (55,882) (100) 620.6406 WATER TOWER LEASE 18,504 218,317 218,317 218,317 0 17,792 209,920 8,396 4 Total For Misc Revenue: 20,109 244,432 227,612 227,612 7 26,483 289,875 (45,443) (16) Total Other Revenue 66,311 1,057,643 518,212 388,212 172 41,448 1,138,882 (81,238) (7) ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Water DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Total For Total Other Revenue: 66,311 1,057,643 388,212 388,212 172 41,448 1,138,882 (81,238) (7) Total Revenue 189,118 3,503,331 2,588,215 2,588,215 35 170,510 3,391,632 111,699 3 Expenses Production Expense 700.7021 MTCE OF STRUCTURES 2,749 53,135 50,000 50,000 6 2,309 42,916 10,218 24 Total For Production Expense: 2,749 53,13E 50,000 50,000 6 2,309 42,916 10,218 24 Pumping Expense 710.7101 SUPERVISION 3,906 54,766 60,327 60,327 (9) 4,137 52,845 1,921 4 710.7181 ELECTRIC&GAS UTILITIES 16,522 224,348 230,000 230,000 (2) 18,183 202,180 22,167 11 710.7182 SAMPLING 737 16,705 16,122 16,122 4 1,089 15,386 1,318 9 710.7183 CHEMICAL FEED 1,938 24,702 30,000 30,000 (18) 1,901 27,375 (2,673) (10) 710.7201 MTCE OF ELECTRIC PUMPING EQ 0 161 0 0 0 0 27 134 479 710.7220 MTCE OF WELLS 16,633 151,160 250,586 250,586 (40) 15,012 148,937 2,223 1 710.7230 SCADA-PUMPING 5,789 12,737 12,513 12,513 2 5,214 10,717 2,019 19 Total For Pumping Expense: 45,527 484,583 599,548 599,548 (19) 45,538 457,472 27,110 6 Distribution Expense 730.7301 MTCE OF WATER MAINS 8,001 83,701 87,631 87,631 (4) 1,582 37,029 46,671 126 730.7309 LOCATE WATER LINES 638 13,817 15,066 15,066 (8) 437 13,150 667 5 730.7310 LOCATE WATER MAIN 16 217 200 200 9 16 33 184 561 730.7311 MTCE OF WATER SERVICES 0 0 0 0 0 30 387 (387) (100) 730.7312 WATER METER SERVICE 2,512 43,266 36,042 36,042 20 809 7,294 35,971 493 730.7321 MTCE OF CUSTOMERS SERVICE 1,728 20,486 25,092 25,092 (18) 1,682 20,169 317 2 730.7325 WATER MAPPING 36 9,784 16,000 16,000 (39) 855 16,971 (7,186) (42) 730.7331 MTCE OF WATER HYDRANTS-PU 650 21,856 19,213 19,213 14 868 26,461 (4,605) (17) 730.7332 MTCE OF WATER HYDRANTS-PR 0 1,065 11,900 11,900 (91) 0 0 1,065 0 730.7341 WATER CLOTHING/PPE 24 3,919 7,000 7,000 (44) 35 3,859 59 2 730.7391 WAGES/WATER 364 5,613 15,041 15,041 (63) 390 5,714 (101) (2) 730.7395 TRANSPORTATION EXPENSE 567 14,806 15,000 15,000 (1) 846 11,842 2,964 25 730.7399 GENERAL EXP/WATER PERMIT 0 12,984 15,000 15,000 (13) 0 11,396 1,588 14 Total For Distribution Expense: 14,541 231,519 263,185 263,185 (12) 7,556 154,309 77,210 50 Depreciation&Amortization 595.8031 DEPRECIATION 95,994 1,193,745 1,228,866 1,228,866 (3) 101,603 1,191,894 1,851 0 58 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Water DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Total For Depreciation&Amortization: 95,994 1,193,745 1,228,866 1,228,866 (3) 101,603 1,191,894 1,851 0 Interest Expense • 596.8071 INTEREST ON BONDS/LONG TERM 3,498 42,693 42,693 42,693 0 4,211 51,183 (8,489) (17) 596.8075 INTEREST ON DEFEASED BONDS (69) (829) (829) (829) 0 (69) (829) 0 0 Total For Interest Expense: 3,429 41,864 41,864 41,864 0 4,142 50,354 (8,489) (17) Other Operating Expense 597.8213 LOSS ON DISPOSITION OF PROP(C 0 0 1,000 1,000 (100) 0 5,099 (5,099) (100) 597.8264 DAM MAINTENANCE EXPENSE 0 332 0 0 0 339 339 (6) (2) 597.8302 PENSION EXPENSE 0 0 5,000 5,000 (100) 244,319 244,319 (244,319) (100) 597.8341 INTEREST PD ON METER DEPOSIT 35 724 25 25 2,796 2 27 696 2,486 597.8400 RENTAL PROPERTY EXPENSE 36 2,180 1,242 1,242 76 36 2,657 (477) (18) Total For Other Operating Expense: 71 3,236 7,267 7,267 (55) 244,696 252,442 (249,206) (99) Customer Accounts Expense 900.9021 METER READING EXPENSE 77 4,535 10,051 10,051 (55) 599 9,272 (4,736) (51) 900.9051 MISC CUSTOMER ACCTS EXP-CO 4,996 59,376 55,000 55,000 8 5,077 53,051 6,324 12 900.9061 CUST BLGS NOT PD/SENT FOR CO (26,000) (25,942) 1,000 1,000 (2,694) 0 365 (26,308) (7,188) Total For Customer Accounts Expense: (20,926) 37,969 66,051 66,051 (43) 5,676 62,689 (24,720) (39) Administrative Expense 920.9201 SALARIES/OFFICE&COMMISSION 13,819 159,835 197,985 197,985 (19) 21,195 177,080 (17,244) (10) 920.9205 TEMPORARY STAFFING 0 3,399 1,000 1,000 240 0 0 3,399 0 920.9211 OFFICE SUPPLIES&EXPENSE 491 13,190 28,000 28,000 (53) 445 23,468 (10,278) (44) 920.9212 LT&WATER CONSUMPTION/OFFI 519 6,982 8,000 8,000 (13) 788 9,437 (2,454) (26) 920.9213 BANK CHARGES 46 681 1,000 1,000 (32) 87 711 (30) (4) 920.9221 LEGAL FEES 529 7,596 5,000 5,000 52 358 4,896 2,700 55 920.9231 AUDITING FEES 375 4,100 3,900 3,900 5 422 6,743 (2,643) (39) 920.9241 INSURANCE 1,568 23,721 27,015 27,015 (12) 1,105 24,110 (389) (2) 920.9260 UTILITY SHARE DEF COMP 836 12,714 10,000 10,000 27 8,635 18,317 (5,602) (31) 920.9261 UTIL SH OF MEDICAL/DENTAL/DI 10,711 139,847 146,000 146,000 (4) 10,426 139,028 819 1 920.9262 UTILITY SHARE OF PERA 2,842 41,325 44,000 44,000 (6) 2,873 40,952 373 1 920.9263 UTILITY SHARE OF FICA 2,924 39,422 44,000 44,000 (10) 2,817 38,988 434 1 920.9264 EMPLOYEES SICK PAY 1,759 23,911 20,000 20,000 20 2,018 20,602 3,309 16 920.9265 EMPLOYEE HOLIDAY PAY 3,650 22,062 25,850 25,850 (15) 0 0 22,062 0 920.9266 EMPLOYEE VACATION 2,832 34,778 35,698 35,698 (3) 6,960 55,557 (20,779) (37) 59 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2018 2018 2018 2018 2018 YTD ANNUAL 2018 YTD 2017 2017 YTD 2017 v.2018 Water DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YID VARIANCE Actual Var% 920.9267 UPMIC DISTRIBUTION 1,152 9,339 0 0 0 0 0 9,339 0 920.9268 MISCELLANEOUS-WELLHEAD P 0 0 1,000 1,000 (100) 0 80 (80) (100) 920.9291 CONSULTING FEES 0 353 20,000 20,000 (98) 0 7,933 (7,579) (96) 920.9301 TELEPHONE 411 5,179 5,292 5,292 (2) 90 5,199 (20) 0 920.9302 ADVERTISING 240 8,269 6,000 6,000 38 490 4,620 3,649 79 920.9303 DUES&SUBSCRIPTIONS-FEES 1,657 42,750 41,000 41,000 4 1,191 39,322 3,427 9 920.9304 TRAVEL EXPENSE 0 746 0 0 0 0 4,177 (3,430) (82) 920.9305 SCHOOLS&MEETINGS 507 16,436 38,350 38,350 (57) 431 16,253 182 1 920.9321 MTCE OF GEN PLANT/OFF HEATIN 107 1,284 2,700 2,700 (52) (218) 1,720 (436) (25) Total For Administrative Expense: 46,982 617,929 711,790 711,790 (13) 60,119 639,203 (21,274) (3) General Expense 920.9269 CIP REBATES-RESIDENTIAL 120 3,888 4,500 4,500 (14) 225 3,939 (50) (1) 920.9270 CIP REBATES-COMMERCIAL 0 0 500 500 (100) 25 125 (125) (100) 920.9271 CIP-ADMINISTRATION 0 0 1,014 1,014 (100) 0 731 (731) (100) 920.9272 CIP-MARKETING 0 0 750 750 (100) 0 480 (480) (100) 920.9273 CIP-LABOR 290 4,078 5,009 5,009 (19) 308 4,369 (291) (7) 920.9281 ENVIRONMENTAL COMPLIANCE 39 543 603 603 (10) 41 516 26 5 920.9306 MISC GENERAL EXPENSE 230 768 1,012 1,012 (24) 0 (3) 772 (25,733) Total For General Expense: 679 9,279 13,388 13,388 (31) 600 10,160 (880) (9) Total Expenses(before Operating Transfers) 189,048 2,673,262 2,981,960 2,981,960 (10) 472,242 2,861,442 (188,179) (7) Operating Transfer Utilities&Labor Donated 597.8261 WATER AND LABOR DONATED 0 0 500 500 (100) 0 0 0 0 Total Operating Transfer Total For Total Operating Transfer: 0 0 500 500 (100) 0 0 0 0 Net Income Profit(Loss) 70 830,069 (394,245) (394,245) (311) (301,731) 530,190 299,878 57 60