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5.1. ERMUSR 04-09-2019 Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Theresa Slominski— Finance & Office Manager MEETING DATE: AGENDA ITEM NUMBER: March 12, 2019 5.1 Financial Report—February 2019 SUBJECT: February 2019 ACTION REQUESTED: Receive the February 2019 Financial Report DISCUSSION: Electric P&L February's electric kWh sales are up from the prior year, 5%. For further breakdown: • Residential usage is up 7% • Small Commercial usage is down 4% • Large Commercial usage is up 5% Electric Operating Revenues for February of$3,144,100 are above the prior year by 3%and ahead of budget by 1%. February YTD is also ahead of prior year by 3%and budget by 1%. The prior YTD variance is mainly due to not having the Dispersed Generation Credit since transitioning to MMPA. Other Revenues of$173,826 is less than the prior year by 57% but ahead of budget by 13%. Other Revenue YTD is below prior year by 34% but is ahead of budget by 14%. The main driver of the prior YTD variance is from Contributions from Customers. Overall,Total Revenues of$3,317,926 are below the prior year by 4% but are ahead of budget by 2%. YTD is in line with prior year and is ahead of budget by 2%. Purchased Power of$1,821,125 is less than the prior year by 11%, and below budget by 10%. YTD is less than prior year by 9%and is in line with budget. Administrative Expenses of$246,978 are 6% more than the prior year, but 12% below budget. YTD costs are more than the prior year by 12%, but are less than budget by 4%. The main drivers of the prior YTD variance are due to Employee Vacation Pay which is because of the change in when the PTO day is awarded and the increase in Medical Insurance costs. Page 1 of 2 162 General Expenses of$26,382 are 60% more than the prior year, but are 42% below budget. YTD costs are more than the prior year by 39% but are less than budget by 50%. The main driver causing the prior YTD variance is CIP Rebates being fully funded from ERMU. For expenses, in total YTD are 3% less than the prior year, and are also 2% below budget. For February 2019, the Electric Department has a Net Profit of$569,543 and YTD Net Profit of $445,091. This is better than the budgeted monthly Net Profit of$206,137, is in line with the prior year monthly Net Profit of$571,596, and is ahead of prior YTD Net Profit of$279,291. Water P&L February gallons of water sold are down 1%from the prior year. For further breakdown: • Residential use is up 2% • Commercial use is down 3% Water Operating Revenues for February of$137,475 are above the prior year by 1%and ahead of budget by 10%. YTD is ahead of prior year by 6%and is also ahead of budget by 16%. Other Revenues of$58,343 are above the prior year by 51% and ahead of prior YTD by 76%. The main driver causing the prior YTD variance is Connections Fees. Other Revenues are ahead of YTD budget by 41%. Overall,Total Revenues of$195,819 are ahead of the prior year by 12%and ahead of prior YTD by 21%with Connection Fees being the driving force. YTD Total Revenues are ahead of budget by 23%. Total Expenses of$219,300 are more than the prior year by 3%, but are below YTD budget by 7%. For February 2019, the Water Department has a Net Loss of($23,481),typical for the water department, which is better than last year's Net Loss of($37,812) and better than the budgeted Net Loss of($73,909). February YTD Net Loss is ($91,701), which is better than the prior YTD Net Loss of($148,064), and is significantly ahead of the budgeted YTD Net Loss of($196,653). ATTACHMENTS: • Balance Sheet 2.2019 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 2.2019 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 2.2019 • Graphs Prior Year and YTD 2019 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 2.2019 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 2.2019 Page 2 of 2 163 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING FEBRUARY 2019 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 9,443,029 5,261,550 ACCOUNTS RECEIVABLE 2,536,548 311,334 INVENTORIES 836,335 7,751 PREPAID ITEMS 174,984 24,181 CONSTRUCTION IN PROGRESS 199,115 13,437 TOTAL CURRENT ASSETS 13,190,011 5,618,253 RESTRICTED ASSETS BOND RESERVE FUND 1,261,359 0 EMERGENCY RESERVE FUND 2,657,844 1,188,799 UNRESTRICTED RESERVE FUND 38,884 113,824 TOTAL RESTRICTED ASSETS 3,958,087 1,302,623 FIXED ASSETS PRODUCTION 645,285 13,539,819 LFG PROJECT 3,619,202 0 TRANSMISSION 2,301,867 0 DISTRIBUTION 39,870,831 23,042,971 GENERAL 10,449,424 1,026,164 FIXED ASSETS(COST) 56,886,608 37,608,954 LESS ACCUMULATED DEPRECIATION (27,932,492) (17,806,360) TOTAL FIXED ASSETS,NET 28,954,116 19,802,594 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 0 LOSS OF REVENUE INTANGIBLE 1,733,743 0 LESS ACCUMULATED AMORTIZATION (277,238) 0 TOTAL INTANGIBLE ASSETS,NET 23,002,716 0 OTHER ASSETS AND DEFERRED OUTFLOWS 550,348 104,581 TOTAL ASSETS 69,655,279 26,828,051 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 3,228,210 196,947 SALARIES AND BENEFITS PAYABLE 597,470 108,871 DUE TO CITY 752,130 23,767 DUE TO OTHER FUNDS 0 0 NOTES PAYABLE-CURRENT PORTION 167,430 0 BONDS PAYABLE-CURRENT PORTION 225,000 0 UNEARNED REVENUE 9,100 92,300 TOTAL CURRENT LIABILITIES 4,979,340 421,885 LONG TERM LIABILITIES LFG PROJECT 619,692 0 DUE TO COUNTY 0 0 BONDS PAYABLE,LESS CURRENT PORTION 21,047,303 874,316 PENSION LIABILITIES 2,430,359 454,388 TOTAL LONG TERM LIABILITIES 24,097,354 1,328,704 TOTAL LIABILITIES 29,076,693 1,750,590 DEFERRED INFLOWS OF RESOURCES 681,694 127,452 FUND EQUITY CAPITAL ACCOUNT CONST COST 1,261,359 0 CONTRIBUTED CAPITAL 0 0 RETAINED EARNINGS 38,190,441 25,041,711 NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 445,092 (91,702) TOTAL FUND EQUITY 39,896,892 24,950,009 TOTAL LIABILITIES&FUND EQUITY 69,655,279 26,828,051 164 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 2,844,785 5,440,840 5,389,030 34,154,535 1 2,838,771 5,443,741 (2,901) 0 Otsego 241,013 449,168 420,252 2,715,484 7 232,142 424,518 24,649 6 Rural Big Lake 17,721 33,219 30,956 187,389 7 18,417 31,271 1,948 6 Dayton 21,425 39,669 36,457 221,713 9 21,373 36,827 2,841 8 Public St&Hwy Lighting 18,754 37,474 36,512 217,972 3 18,602 36,882 591 2 Generation and Sub Station Credit 400 800 800 4,800 0 400 800 0 0 Dispersed Generation Credit 0 0 0 0 0 (68,992) (134,036) 134,036 (100) Total Operating Revenue 3,144,100 6,001,171 5,914,009 37,501,895 1 3,060,715 5,840,006 161,165 3 Other Operating Revenue Interest/Dividend Income 11,820 31,458 13,333 80,000 136 4,519 10,997 20,460 186 Customer Penalties 25,797 44,666 30,315 250,000 47 4,751 4,011 40,655 1,014 LFG Project 96,514 188,462 192,898 1,157,393 (2) 91,636 181,423 7,039 4 Connection Fees 8,225 12,510 7,230 150,000 73 9,215 13,585 (1,075) (8) Misc Revenue 31,468 66,771 58,333 351,050 14 294,366 314,305 (247,534) (79) Total Other Revenue 173,826 343,869 302,111 1,988,443 14 404,488 524,323 (180,454) (34) Total Revenue 3,317,926 6,345,041 6,216,120 39,490,338 2 3,465,204 6,364,329 (19,288) 0 Expenses Purchased Power 1,821,125 3,942,115 3,954,958 25,724,105 0 2,057,117 4,343,796 (401,681) (9) Operating&Mtce Expense 45,256 72,503 53,231 280,610 36 29,258 54,210 18,292 34 Landfill Gas 60,498 122,027 126,423 787,740 (3) 58,057 115,845 6,181 5 Transmission Expense 1,571 3,425 6,366 38,199 (46) 789 2,172 1,253 58 Distribution Expense 22,788 64,986 65,585 393,516 (1) 20,411 40,533 24,452 60 Maintenance Expense 90,967 199,652 250,823 1,308,092 (20) 117,748 269,652 (70,000) (26) Depreciation&Amortization 233,002 465,985 469,316 2,895,535 (1) 179,278 355,759 110,226 31 Interest Expense 53,704 110,802 110,802 636,479 0 23,239 47,112 63,689 135 Other Operating Expense 4,848 7,647 4,308 130,848 (78) 22,496 24,013 (16,365) 68 Customer Accounts Expense 24,178 48,410 57,009 349,000 (15) 20,187 45,552 2,858 6 Administrative Expense 246,978 592,310 619,561 3,444,406 (4) 232,979 528,044 64,265 12 General Expense 26,382 45,284 90,580 543,149 (50) 16,472 32,479 12,804 39 Total Expenses(before Operating Transfers) 2,631,304 5,675,151 5,808,966 36,531,680 (2) 2,778,037 5,859,173 (184,021) (3) Operating Transfer Operating Transfer/Other Funds 99,410 189,207 182,712 1,150,000 4 97,966 188,855 351 0 Utilities&Labor Donated 17,669 35,590 36,511 215,000 (3) 17,603 37,008 (1,418) (4) Total Operating Transfer 117,079 224,797 219,223 1,365,000 3 115,570 225,864 (1,066) 0 Net Income Profit(Loss) 569,543 445,091 187,930 1,593,658 137 571,596 279,291 165,799 59 165 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 137,475 257,569 222,888 2,240,089 16 135,926 243,297 14,271 6 Total Operating Revenue 137,475 257,569 222,888 2,240,089 16 135,926 243,297 14,271 6 Other Operating Revenue Interest/Dividend Income 2,928 7,937 3,475 20,850 128 1,129 2,749 5,188 189 Customer Penalties 969 3,304 2,972 18,000 11 346 327 2,977 908 Connection Fees 33,620 65,291 37,333 224,000 75 17,852 24,954 40,336 162 Misc Revenue 20,825 40,919 39,433 265,552 4 19,387 38,769 2,149 6 Total Other Revenue 58,343 117,452 83,213 528,402 41 38,716 66,801 50,650 76 Total Revenue 195,819 375,021 306,102 2,768,491 23 174,643 310,099 64,922 21 Expenses Production Expense 2,671 6,032 8,583 51,500 (30) 4,237 8,692 (2,660) (31) Pumping Expense 38,732 79,890 84,962 540,464 (6) 35,198 76,111 3,779 5 Distribution Expense 16,268 40,220 56,519 272,163 (29) 7,102 33,591 6,628 20 Depreciation&Amortization 96,439 192,397 191,844 1,175,214 0 100,989 202,046 (9,649) (5) Interest Expense 2,682 6,111 6,111 32,939 0 3,429 7,571 (1,459) (19) Other Operating Expense 664 821 416 7,500 97 72 144 676 467 Customer Accounts Expense 4,799 9,897 11,916 71,500 (17) 4,740 10,479 (581) (6) Administrative Expense 55,455 129,120 140,339 749,331 (8) 56,148 118,478 10,641 9 General Expense 1,587 2,231 2,062 12,373 8 537 1,046 1,184 113 Total Expenses(before Operating Transfers) 219,300 466,723 502,755 2,912,985 (7) 212,456 458,164 8,559 2 Operating Transfer Net Income Profit(Loss) (23,481) (91,701) (196,653) (144,494) 53 (37,812) (148,064) 56,363 38 166 Elk River Municipal Utilities Monthly Electrical Demand 1 70.0 __...- ♦� 65.0 ..E .....',�. —*— t � t • t 60.0 — — —._.._.. -t— — t ` t 55.0 i 2 t • c t • 0 45.0 �c � ,` 40.0 35.0 30.0 t 6 � r a; ice s'\ j` e` s ce caa aa PQ aI PcbDcoo �.DeFF� e o , G co Month -+--2018 -.-2019 Elk River Municipal Utilities Monthly Energy Purchases 34 000 • 29,000 �•�_ ♦` = `• /' ---- w-- I� `. c •— 24,000 ca as w as L I V ta.3 19,000 rn d c w 14,000 a6 a. c6 Qc• a� owe ���� �y� sec o�ec sec sec ,a�� �e�co �a P Quo' ‘,..el 0C-J ho ed` OeGeF 5 Month -4--2018 -t2019 167 Elk River Municipal Utilities Monthly Total Electric Load 40,000 — — — 1 35,000 _ i.• • 30,000 — I I -. �� 2 ----, '. ilitY. m25,000 — ._._ ... _ i� _ J e� U 5, 20,000 w 15,000 A 10,000 � t 6 r �c � e �� w5 ec / ' /aa �c� <:. `a P J� e Q NeQ coe � Qe Month -4--2018 -0-2019 Elk River Municipal Utilities Monthly Electric Sales $4,500,000 _. $4,000,000 '� ••` • --- $3,500,000 e - •% i • i • co) / S. m $3,000,000 • o �� • • N.,, $2,500,000 o o tO $2,000,000 $1,500,000 — - $1,000,000 1 6 6 r Q`t a� ce ���� `e es � e� es map •o o c _0 � o '' F aFe P ,e o , GQ Month co° \o Oe -4--2018 -0-2019 168 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 25,000 20,000 '' .__..._.. _. 15,000 " x 10,000 `ter.... •�` — co IN RS ♦♦� ..... ♦♦+"---1 5,000 Fe P coz p �o� Oec Month —4--2018 Residential -f2019 Residential — -2018 Commercial —x-2019 Commercial —4K--2018 Industrial —II-2019 Industrial Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $2,500,000 �.--.~~— $2,000,000 ' ie--• ��_ ` • fp - �f71 /+1 • �( i. "" —— '-♦ __._ __._____-_.._._./L—__i...._.. .........___— ........._...... --_ • m $1,000,000 ~��---♦',�._. ------. .--`.,"�` N $500,000 " ~ _—", '~ $0 a��ac1 � c1 �,§ PQ�\ \-V �J�e ���� ,c3 eee G,00e ecc. ecc, (<e 5e< p �o� Qe° Month -- --2018 Residential — —2019 Residential --A--2018 Commercial —X-2019 Commercial —9K---2018 Industrial —0-2019 Industrial 169 Elk River Municipal Utilities Monthly Water Pumpage 140 — — , 120 ♦ c 100 e� •�• o - - ♦ /` ♦ 80 / c / ,`` ._ / •♦ C1 / ♦♦ m 60 • i `` E '/ a 20 ;,; 0 —.._. aaaat� �`�a has PQ�\ �a\ )Jae ���� aAa e��ec o�0.a e�,o e,a �e P �eQti p 0, ea O Month 4--2018 {-2019 Elk River Municipal Utilities Peak Day Pumpage 6 5 I'' ` • ,5 4 ♦♦ 0 / % c / ♦ o / ♦ 3 / • / ♦♦ c / ♦ / ♦ c 2 ��� t;!..... - �S't)... 0 d a 1 0 c c �� e ,-A J5` es e °aJa4`aPQ � J � F `0� , m a ea` P ,e 00 ,e Ge 09 \-\,, Oe co Month -4--2018 f2019 170 Elk River Municipal Utilities Monthly Water Sales 140.0 120.0 i I I �• I • 100.0 — r _ y To a �c 80.0 j�l•`` ♦ ` �• • 0 I I • • c I %% N-4,413 40.0 �� ,,.F- --- j� .._... ••.• 20.0 0.0 6 6 r \Q� a �e J�� J� s a a P � s F n000k F e ee es co ,,co �a a e Q e o ,e e ej6Q \-\o Q Month 2018 —.-2019 Elk River Municipal Utilities Monthly Water Sales $450,000 • $400,000 --- - •I `, I $350,000 {- T I y $300,000 - •I "��R o $250,000 ��� 0 y $200,000 — II ---- : N I ` in $150,000 �+t - — sue` $100,000 1r -_- I $50,000 $0 1 ac96 cc)a6 �a<<r PQ�\ \a- ,�c,e �,�� 0,5'` e,pek Gooey e,oes e,oe,c <e eQ O -\o Oe Month -4--2018 —11-2019 171 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 440.4411 ELECT SALES/ELK RIVER RES 1,114,983 2,087,862 1,975,551 11,820,595 6 1,078,069 1,995,608 92,254 5 440.4412 ELECT SALES/ER NON-DEMAND 276,219 511,476 529,080 3,180,355 (3) 295,734 534,452 (22,976) (4) 440.4413 ELECT SALES/ER DEMAND 1,453,582 2,841,501 2,884,398 19,153,584 (1) 1,464,967 2,913,681 (72,179) (2) Total For Elk River: 2,844,785 5,440,840 5,389,030 34,154,535 1 2,838,771 5,443,741 (2,901) 0 Otsego 440.4416 ELECT SALES/OTSEGO RES 112,605 212,709 199,895 1,239,338 6 118,423 201,925 10,784 5 440.4417 ELECT SALES/OTSEGO NON-DEM 33,545 61,280 64,417 447,270 (5) 34,431 65,071 (3,791) (6) 440.4418 ELECT SALES/OTSEGO DEMAND 94,862 175,178 155,938 1,028,876 12 79,286 157,521 17,656 11 Total For Otsego: 241,013 449,168 420,252 2,715,484 7 232,142 424,518 24,649 6 Rural Big Lake 440.4421 ELECT SALESBIG LAKE RES 17,556 32,907 30,677 183,510 7 18,259 30,988 1,918 6 440.4422 ELECT SALESBL NON-DEMAND 165 312 279 3,878 12 157 282 29 11 Total For Rural Big Lake: 17,721 33,219 30,956 187,389 7 18,417 31,271 1,948 6 Dayton 440.4431 ELECT SALES/DAYTON RES 18,197 33,736 30,909 185,782 9 18,335 31,223 2,513 8 440.4432 ELECT SALES/DAYTON NON-DEM 3,227 5,933 5,548 35,931 7 3,037 5,604 328 6 Total For Dayton: 21,425 39,669 36,457 221,713 9 21,373 36,827 2,841 8 Public St&Hwy Lighting 440.4414 ELECT SALES/ELK RIVER SEC LTS 18,754 37,474 36,512 217,972 3 18,602 36,882 591 2 Total For Public St&Hwy Lighting: 18,754 37,474 36,512 217,972 3 18,602 36,882 591 2 Generation and Sub Station Credit 440.4550 SUB-STATION CREDIT 400 800 800 4,800 0 400 800 0 0 Total For Generation and Sub Station Credit: 400 800 800 4,800 0 400 800 0 0 Dispersed Generation Credit 440.4552 DISPERSED GENERATION CREDIT 0 0 0 0 0 (68,992) (134,036) 134,036 (100) Total For Dispersed Generation Credit: 0 0 0 0 0 (68,992) (134,036) 134,036 (100) Total Operating Revenue - 3,144,100 6,001,171 5,914,009 37,501,895 1 3,060,715 5,840,006 161,165 3 Other Operating Revenue Interest/Dividend Income 460.4691 INTEREST&DIVIDEND INCOME 11,820 31,458 13,333 80,000 136 4,519 10,997 20,460 186 Total For Interest/Dividend Income: 11,820 31,458 13,333 80,000 136 4,519 10,997 20,460 186 Customer Penalties 172 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% 470.4701 CUSTOMER DELINQUENT PENALT 25,797 44,666 30,315 250,000 47 4,751 4,011 40,655 1,014 Total For Customer Penalties: 25,797 44,666 30,315 250,000 47 4,751 4,011 40,655 1,014 LFG Project 470.4721 LFG PROJECT 96,514 188,462 192,898 1,157,393 (2) 91,636 181,423 7,039 4 Total For LFG Project: 96,514 188,462 192,898 1,157,393 (2) 91,636 181,423 7,039 4 Connection Fees 470.4702 DISCONNECT&RECONNECT CHA 8,225 12,510 7,230 150,000 73 9,215 13,585 (1,075) (8) Total For Connection Fees: 8,225 12,510 7,230 150,000 73 9,215 13,585 (1,075) (8) Misc Revenue 470.4703 MISC ELEC REVENUE-TEMP CHG 0 0 0 0 0 600 600 (600) (100) 470.4715 TRANSMISSION INVESTMENTS 23,592 52,162 33,333 200,000 56 0 15,401 36,761 239 470.4722 MISC NON-UTILITY 4,514 9,227 8,333 50,000 11 7,792 10,269 (1,042) (10) 470.4739 PERA PENSION OTHER REVENUE 0 0 0 1,050 0 0 0 0 0 470.4750 RENTAL PROPERTY INCOME 3,360 5,380 4,166 25,000 29 2,060 4,120 1,260 31 470.4770 CONTRIBUTIONS FROM CUSTOME 0 0 12,500 75,000 (100) 283,914 283,914 (283,914) (100) Total For Misc Revenue: 31,468 66,771 58,333 351,050 14 294,366 314,305 (247,534) (79) Total Other Revenue 173,826 343,869 302,111 1,988,443 14 404,488 524,323 (180,454) (34) Total For Total Other Revenue: 173,826 343,869 302,111 1,988,443 14 404,488 524,323 (180,454) (34) Total Revenue 3,317,926 6,345,041 6,216,120 39,490,338 2 3,465,204 6,364,329 (19,288) 0 Expenses Purchased Power 540.5551 PURCHASED POWER 1,821,125 3,942,115 3,954,958 25,724,105 0 2,057,117 4,343,796 (401,681) (9) Total For Purchased Power: 1,821,125 3,942,115 3,954,958 25,724,105 0 2,057,117 4,343,796 (401,681) (9) Operating&Mtce Expense 540.5461 OPERATING SUPERVISION 8,306 17,951 18,218 109,310 (1) 7,535 16,199 1,752 11 540.5471 DIESEL OIL FUEL 1,118 1,920 2,666 16,000 (28) 1,573 3,199 (1,279) (40) 540.5472 NATURAL GAS 3,644 7,506 8,306 26,000 (10) 3,843 7,252 253 3 540.5483 STATION PWR&WTR CONSP/PLA 3,620 7,646 7,990 33,000 (4) 3,617 7,772 (126) (2) 540.5484 OTHER EXP/PLANT SUPPLIES-ETC 745 1,095 600 3,600 82 211 395 699 177 540.5491 MISC OTHER PWR GENERATION E 235 984 866 5,200 13 2,283 3,200 (2,216) (69) 540.5521 MAINTENANCE OF STRUCTURE/P 3,722 6,871 5,000 30,000 37 2,564 4,122 2,748 67 540.5531 MTCE OF ENGINES/GENERATORS- 4,802 5,911 6,250 37,500 (5) 891 2,356 3,555 151 540.5541 MTCE OF PLANT/LAND IMPROVE 19,059 22,617 3,333 20,000 579 6,737 9,711 12,906 133 173 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Total For Operating&Mtce Expense: 45,256 72,503 53,231 280,610 36 29,258 54,210 18,292 34 Landfill Gas 550.5050 LFG PURCHASED GAS 12,518 26,645 28,760 172,565 (7) 12,528 25,498 1,147 4 550.5051 LANDFILL GAS O&M 45,833 91,666 91,666 550,000 0 43,350 86,701 4,965 6 550.5052 LFG ADMIN 734 890 1,600 38,800 (44) 865 1,020 (130) (13) 550.5053 LFG INSURANCE 1,412 2,824 3,395 20,375 (17) 1,312 2,624 200 8 550.5054 LFG MTCE 0 0 1,000 6,000 (100) 0 0 0 0 Total For Landfill Gas: 60,498 122,027 126,423 787,740 (3) 58,057 115,845 6,181 5 Transmission Expense 560.5620 TRANSMISSION MTCE AND EXPE 1,571 3,425 6,366 38,199 (46) 789 2,172 1,253 58 Total For Transmission Expense: 1,571 3,425 6,366 38,199 (46) 789 2,172 1,253 58 Distribution Expense 580.5801 REMOVE EXISTING SERV&METE 0 0 416 2,500 (100) 0 0 0 0 580.5821 SCADA EXPENSES 1,954 3,908 5,166 31,000 (24) 1,500 3,000 908 30 580.5831 TRANSFORMER EX/OVERHD&UN 1,073 1,926 4,166 25,000 (54) 783 2,336 (410) (18) 580.5851 MTCE OF SIGNAL SYSTEMS 0 0 433 2,600 (100) 381 621 (621) (100) 580.5861 METER EXP-REMOVE&RESET 0 0 416 2,500 (100) 0 0 0 0 580.5871 TEMP SERVICE-INSTALL&REMO 0 0 416 2,500 (100) 431 431 (431) (100) 580.5881 MISC DISTRIBUTION EXPENSE 19,761 59,151 54,166 325,000 9 17,314 34,143 25,007 73 580.5890 INTERCONNECTION CARRYING C 0 0 402 2,416 (100) 0 0 0 0 Total For Distribution Expense: 22,788 64,986 65,585 393,516 (1) 20,411 40,533 24,452 60 Maintenance Expense 590.5911 MTCE OF STRUCTURES 1,290 2,358 1,250 7,500 89 247 692 1,665 240 590.5921 MTCE OF SUBSTATIONS 1,692 2,834 4,250 25,500 (33) 1,123 2,422 412 17 590.5922 MTCE OF SUBSTATION EQUIPME 0 134 5,833 35,000 (98) 0 0 134 0 590.5931 MTCE OF OVERHD LINES/TREE TR 8,974 34,972 47,200 125,000 (26) 34,291 73,372 (38,400) (52) 590.5932 MTCE OF OVERHD LINES/STANDB 2,224 4,236 5,166 31,000 (18) 2,209 5,002 (766) (15) 590.5933 MTCE OF OVERHEAD 7,764 16,786 18,521 155,000 (9) 4,769 17,143 (357) (2) 590.5941 MTCE OF UNDERGROUND/DISTRI 5,214 11,190 19,666 118,000 (43) 3,660 8,950 2,239 25 590.5943 LOCATE ELECTRIC LINES 3,202 6,716 5,960 100,000 13 1,463 2,750 3,966 144 590.5951 MTCE OF LINE TRANSFORMERS 7,390 11,745 8,500 51,000 38 3,002 11,645 99 1 590.5961 MTCE OF STREET LIGHTING 6,446 10,394 6,833 41,000 52 531 8,825 1,569 18 590.5962 MTCE OF SECURITY LIGHTING 175 696 2,166 13,000 (68) 1,635 3,204 (2,508) (78) 590.5971 MTCE OF METERS 4,211 11,850 25,000 150,000 (53) 14,849 33,369 (21,519) (64) 590.5972 VOLTAGE COMPLAINTS 1,101 1,229 1,383 8,300 (11) 363 872 356 41 174 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% 590.5981 SALARIES/TRANS&DISTRIBUTIO 3,141 6,783 8,965 53,792 (24) 2,856 6,141 642 10 590.5985 ELECTRIC MAPPING 9,466 19,998 20,833 125,000 (4) 8,420 25,091 (5,092) (20) 590.5991 MTCE OF OVERHEAD SERVICE/2N 680 1,846 1,816 18,000 2 756 1,597 249 16 590.5992 MTCE OF UNDERGROUND ELEC S 1,345 3,985 6,833 41,000 (42) 1,151 2,349 1,635 70 590.5993 LOCATE UNDERGROUND SECOND 0 0 0 0 0 951 1,809 (1,809) (100) 590.5995 TRANSPORTATION EXPENSE 26,646 51,893 60,643 210,000 (14) 35,465 64,412 (12,518) (19) Total For Maintenance Expense: 90,967 199,652 250,823 1,308,092 (20) 117,748 269,652 (70,000) (26) Depreciation&Amortization 595.8031 DEPRECIATION 177,324 354,629 469,316 2,895,535 (24) 179,278 355,759 (1,129) 0 595.8032 AMORTIZATION 55,677 111,355 0 0 0 0 0 111,355 0 Total For Depreciation&Amortization: 233,002 465,985 469,316 2,895,535 (1) 179,278 355,759 110,226 31 Interest Expense 596.8071 INTEREST ON BONDS/LONG TERM 57,993 119,380 119,380 687,947 0 27,472 55,578 63,802 115 596.8075 INTEREST ON DEFEASED BONDS (276) (552) (552) (3,316) 0 (276) (552) 0 0 597.8281 AMORTIZATION OF DEBT DISCOU (4,012) (8,025) (8,025) (48,152) 0 (3,956) (7,912) (112) 1 Total For Interest Expense: 53,704 110,802 110,802 636,479 0 23,239 47,112 63,689 135 Other Operating Expense 597.8165 EV CHARGING EXPENSE 395 784 808 4,848 (3) 250 493 290 59 597.8213 LOSS ON DISPOSITION OF PROP(C 0 0 0 0 0 20,962 20,962 (20,962) (100) 597.8263 OTHER DONATIONS 0 0 0 5,000 0 0 0 0 0 597.8302 PENSION EXPENSE 0 0 0 100,000 0 0 0 0 0 597.8341 INTEREST PD ON METER DEPOSIT 2,040 4,066 2,500 15,000 63 1,140 2,268 1,797 79 597.8400 RENTAL PROPERTY EXPENSE 2,412 2,796 1,000 6,000 180 144 288 2,508 871 Total For Other Operating Expense: 4,848 7,647 4,308 130,848 78 22,496 24,013 (16,365) 68 Customer Accounts Expense 900.9021 METER READING EXPENSE 1,621 3,362 5,000 30,000 (33) 1,527 3,389 (26) (1) 900.9030 COLLECTING EXP DISC/RECONNE 728 1,323 1,342 15,000 (1) 490 1,225 97 8 900.9051 MISC CUSTOMER ACCTS EXP-CO 19,961 41,740 43,166 259,000 (3) 18,517 40,385 1,354 3 900.9061 CUST BLGS NOT PD/SENT FOR CO 1,866 1,984 7,500 45,000 (74) (348) 551 1,432 260 Total For Customer Accounts Expense: 24,178 48,410 57,009 349,000 (15) 20,187 45,552 2,858 6 Administrative Expense 920.9201 SALARIES/OFFICE&COMMISSION 51,709 109,514 129,355 776,132 (15) 45,954 100,350 9,163 9 920.9205 TEMPORARY STAFFING 0 0 666 4,000 (100) 3,046 3,046 (3,046) (100) 920.9211 OFFICE SUPPLIES&EXPENSE 6,115 10,443 19,833 119,000 (47) 13,994 17,663 (7,220) (41) 920.9212 LT&WATER CONSUMPTION/OFFI 2,160 4,434 5,272 35,000 (16) 2,052 4,167 266 6 175 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% 920.9213 BANK CHARGES 159 421 500 3,000 (16) 220 493 (72) (15) 920.9221 LEGAL FEES 3,162 4,921 5,000 30,000 (2) 2,949 5,115 (194) (4) 920.9231 AUDITING FEES 1,300 2,600 2,680 16,080 (3) 1,300 2,600 0 0 920.9241 INSURANCE 12,068 24,136 26,483 158,900 (9) 11,696 23,147 988 4 920.9260 UTILITY SHARE DEF COMP 11,381 23,235 20,000 120,000 16 5,830 12,222 11,013 90 920.9261 UTIL SH OF MEDICAL/DENTAL/DI 54,938 163,843 170,000 735,000 (4) 49,073 150,209 13,634 9 920.9262 UTILITY SHARE OF PERA 17,865 38,770 40,833 245,000 (5) 16,566 35,778 2,991 8 920.9263 UTILITY SHARE OF FICA 16,890 36,414 39,166 235,000 (7) 15,446 33,662 2,751 8 920.9264 EMPLOYEE SICK PAY 9,269 30,209 19,166 115,000 58 9,320 25,008 5,201 21 920.9265 EMPLOYEE HOLIDAY PAY 11,322 35,312 33,670 128,000 5 8,537 32,489 2,823 9 920.9266 EMPLOYEE VACATION&PTO PA 14,229 51,061 34,166 205,000 49 15,556 35,270 15,790 45 920.9267 UPMIC DISTRIBUTION 0 0 0 59,000 0 0 0 0 0 920.9291 CONSULTING FEES 2,240 5,832 5,000 30,000 17 0 880 4,952 563 920.9301 TELEPHONE 1,826 3,644 3,528 21,168 3 1,688 3,385 258 8 920.9302 ADVERTISING 1,580 3,074 5,844 18,000 (47) 2,264 3,264 (189) (6) 920.9303 DUES&SUBSCRIPTIONS-FEES 7,199 15,394 26,666 160,000 (42) 10,372 16,321 (927) (6) 920.9304 TRAVEL EXPENSE 0 0 0 0 0 1,231 2,456 (2,456) (100) 920.9305 SCHOOLS&MEETINGS 21,106 28,140 30,728 225,126 (8) 15,447 19,649 8,490 43 920.9321 MTCE OF GEN PLANT/OFF HEATIN 453 906 1,000 6,000 (9) 430 860 46 5 Total For Administrative Expense: 246,978 592,310 619,561 3,444,406 (4) 232,979 528,044 64,265 12 General Expense 920.9269 CIP REBATES-RESIDENTIAL 1,713 2,913 11,091 66,550 (74) 800 800 2,113 264 920.9270 CIP REBATES-COMMERCIAL 9,252 10,052 29,366 176,200 (66) (525) (525) 10,577 (2,015) 920.9271 CIP-ADMINISTRATION 45 91 21,044 126,265 (100) 93 143 (52) (36) 920.9272 CIP-MARKETING 555 2,116 5,600 33,600 (62) 2,235 2,295 (179) (8) 920.9273 CIP-LABOR 11,170 23,236 17,839 107,034 30 10,200 22,221 1,014 5 920.9274 CIP REBATES-LOW INCOME 735 933 250 1,500 274 0 445 488 109 920.9275 CIP-LOW INCOME LABOR 632 1,358 0 0 0 1,680 3,086 (1,728) (56) 920.9281 ENVIRONMENTAL COMPLIANCE 2,289 4,597 4,555 27,000 1 2,018 4,042 555 14 920.9306 MISCGENERALEXPENSE (12) (14) 833 5,000 (102) (30) (30) 16 (52) Total For General Expense: 26,382 45,284 90,580 543,149 (50) 16,472 32,479 12,804 39 Total Expenses(before Operating Transfers) 2,631,304 5,675,151 5,808,966 36,531,680 (2) 2,778,037 5,859,173 (184,021) (3) Operating Transfer Operating Transfer/Other Funds 176 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% 597.8262 TRANSFER TO CITY 4%ER REVEN 99,410 189,207 182,712 1,150,000 4 97,966 188,855 351 0 Total For Operating Transfer/Other Funds: 99,410 189,207 182,712 1,150,000 4 97,966 188,855 351 0 Utilities&Labor Donated 597.8261 UTILITIES&LABOR DONATED 17,669 35,590 36,511 215,000 (3) 17,603 37,008 (1,418) (4) Total For Utilities&Labor Donated: 17,669 35,590 36,511 215,000 (3) 17,603 37,008 (1,418) (4) Total Operating Transfer Total For Total Operating Transfer: 117,079 224,797 219,223 1,365,000 3 115,570 225,864 (1,066) 0 Net Income Profit(Loss) 569,543 445,091 187,930 1,593,658 137 571,596 279,291 165,799 59 177 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 610.6101 WATER SALES RESIDENTIAL 82,026 156,217 136,197 1,222,640 15 135,926 243,297 (87,080) (36) 610.6102 WATER SALES COMMERCIAL 54,010 98,480 84,451 783,135 17 0 0 98,480 0 610.6103 WATER SALES IRRIGATION 1,437 2,871 2,240 234,313 28 0 0 2,871 0 Total For Water Sales: 137,475 257,569 222,888 2,240,089 16 135,926 243,297 14,271 6 Total Operating Revenue 137,475 257,569 222,888 2,240,089 16 135,926 243,297 14,271 6 Total For Total Operating Revenue: 137,475 257,569 222,888 2,240,089 16 135,926 243,297 14,271 6 Other Operating Revenue Interest/Dividend Income 460.4691 INTEREST&DIVIDEND INCOME 2,928 7,937 3,333 20,000 138 1,129 2,749 5,188 189 460.4692 OTHER INT/MISC REVENUE 0 0 141 850 (100) 0 0 0 0 Total For Interest/Dividend Income: 2,928 7,937 3,475 20,850 128 1,129 2,749 5,188 189 Customer Penalties 620.6301 CUSTOMER PENALTIES 969 3,304 2,972 18,000 11 346 327 2,977 908 Total For Customer Penalties: 969 3,304 2,972 18,000 11 346 327 2,977 908 Connection Fees 620.6401 WATER/ACCESS/CONNECTION FE 30,564 57,496 33,333 200,000 72 16,390 22,851 34,645 152 620.6402 CUSTOMER CONNECTION FEES 3,002 5,053 3,333 20,000 52 1,462 2,103 2,949 140 620.6407 BULK WATER SALES/HYDRANT R 54 2,742 666 4,000 311 0 0 2,742 0 Total For Connection Fees: 33,620 65,291 37,333 224,000 75 17,852 24,954 40,336 162 Misc Revenue 470.4722 MISC NON-UTILITY 0 0 50 300 (100) 0 0 0 0 470.4739 PERA PENSION OTHER REVENUE 0 0 0 202 0 0 0 0 0 470.4750 RENTAL PROPERTY INCOME 840 1,345 1,000 6,000 34 515 1,030 315 31 620.6260 TRANSFER IN FROM CITY 0 0 0 25,000 0 0 0 0 0 620.6403 MISCELLANEOUS REVENUE 396 396 0 0 0 0 0 396 0 620.6404 HYDRANT MAINTENANCE PROGR 980 1,960 1,166 7,000 68 980 1,954 5 0 620.6406 WATER TOWER LEASE 18,608 37,216 37,216 227,050 0 17,892 35,785 1,431 4 Total For Misc Revenue: 20,825 40,919 39,433 265,552 4 19,387 38,769 2,149 6 Total Other Revenue 58,343 117,452 83,213 528,402 41 38,716 66,801 50,650 76 Total For Total Other Revenue: 58,343 117,452 83,213 528,402 41 38,716 66,801 50,650 76 178 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Total Revenue 195,819 375,021 306,102 2,768,491 23 174,643 310,099 64,922 21 Expenses Production Expense 700.7021 MTCE OF STRUCTURES 2,671 6,032 8,583 51,500 (30) 4,237 8,692 (2,660) (31) Total For Production Expense: 2,671 6,032 8,583 51,500 (30) 4,237 8,692 (2,660) (31) Pumping Expense 710.7101 SUPERVISION 2,604 7,827 10,577 63,464 (26) 4,045 8,978 (1,151) (13) 710.7181 ELECTRIC&GAS UTILITIES 17,401 37,100 31,551 220,000 18 14,497 32,554 4,545 14 710.7182 SAMPLING 1,005 1,838 3,000 18,000 (39) 2,474 3,524 (1,685) (48) 710.7183 CHEMICAL FEED 360 630 4,500 27,000 (86) 731 2,872 (2,242) (78) 710.7220 MTCE OF WELLS 17,281 32,214 33,333 200,000 (3) 13,294 27,830 4,384 16 710.7230 SCADA-PUMPING 78 279 2,000 12,000 (86) 155 351 (71) (20) Total For Pumping Expense: 38,732 79,890 84,962 540,464 (6) 35,198 76,111 3,779 5 Distribution Expense 730.7301 MTCE OF WATER MAINS 6,574 9,060 15,000 90,000 (40) 1,084 6,348 2,711 43 730.7309 LOCATE WATER LINES 184 693 2,583 15,500 (73) 590 990 (297) (30) 730.7310 LOCATE WATER MAIN 16 33 0 0 0 16 33 0 0 730.7312 WATER METER SERVICE 4,121 7,696 7,000 42,000 10 1,162 4,795 2,900 61 730.7321 MTCE OF CUSTOMERS SERVICE 1,716 3,714 4,166 25,000 (11) 1,473 3,186 528 17 730.7325 WATER MAPPING 770 874 2,666 16,000 (67) 1,294 2,759 (1,885) (68) 730.7331 MTCE OF WATER HYDRANTS-PU 306 994 4,500 27,000 (78) 310 (198) 1,193 (600) 730.7332 MTCE OF WATER HYDRANTS-PR 0 182 2,000 12,000 (91) 0 0 182 0 730.7341 WATER CLOTHING/PPE 1,395 2,217 1,166 7,000 90 0 308 1,908 618 730.7391 WAGES/WATER 514 1,115 1,277 7,663 (13) 470 979 136 14 730.7395 TRANSPORTATION EXPENSE 666 1,489 2,579 15,000 (42) 699 2,633 (1,144) (43) 730.7399 GENERALEXP/WATERPERMIT 0 12,148 13,579 15,000 (11) 0 11,754 393 3 Total For Distribution Expense: 16,268 40,220 56,519 272,163 (29) 7,102 33,591 6,628 20 Depreciation&Amortization 595.8031 DEPRECIATION 96,439 192,397 191,844 1,175,214 0 100,989 202,046 (9,649) (5) Total For Depreciation&Amortization: 96,439 192,397 191,844 1,175,214 0 100,989 202,046 (9,649) (5) Interest Expense 596.8071 INTEREST ON BONDS/LONG TERM 2,751 6,250 6,250 33,768 0 3,498 7,709 (1,459) (19) 596.8075 INTEREST ON DEFEASED BONDS (69) (138) (138) (829) 0 (69) (138) 0 0 Total For Interest Expense: 2,682 6,111 6,111 32,939 0 3,429 7,571 (1,459) (19) Other Operating Expense 179 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% 597.8264 DAM MAINTENANCE EXPENSE 0 0 83 500 (100) 0 0 0 0 597.8302 PENSION EXPENSE 0 0 0 5,000 0 0 0 0 0 597.8341 INTEREST PD ON METER DEPOSIT 61 122 83 500 47 36 72 49 67 597.8400 RENTAL PROPERTY EXPENSE 603 699 250 1,500 180 36 72 627 871 Total For Other Operating Expense: 664 821 416 7,500 97 72 144 676 467 Customer Accounts Expense 900.9021 METER READING EXPENSE 220 299 1,666 10,000 (82) 428 951 (652) (69) 900.9051 MISC CUSTOMER ACCTS EXP-CO 4,579 9,597 10,083 60,500 (5) 4,311 9,469 127 1 900.9061 CUST BLGS NOT PD/SENT FOR CO 0 0 166 1,000 (100) 0 57 (57) (100) Total For Customer Accounts Expense: 4,799 9,897 11,916 71,500 (17) 4,740 10,479 (581) (6) Administrative Expense 920.9201 SALARIES/OFFICE&COMMISSION 14,818 31,305 33,177 199,067 (6) 11,396 24,853 6,452 26 920.9205 TEMPORARY STAFFING 0 0 166 1,000 (100) 761 761 (761) (100) 920.9211 OFFICE SUPPLIES&EXPENSE 1,523 2,615 5,666 34,000 (54) 3,378 4,623 (2,007) (43) 920.9212 LT&WATER CONSUMPTION/OFFI 540 1,109 1,217 8,000 (9) 512 1,041 67 7 920.9213 BANK CHARGES 24 90 166 1,000 (46) 55 128 (38) (30) 920.9221 LEGAL FEES 430 826 1,166 7,000 (29) 1,205 1,671 (845) (51) 920.9231 AUDITING FEES 325 650 670 4,020 (3) 0 325 325 100 920.9241 INSURANCE 2,145 4,290 5,000 30,000 (14) 2,333 4,279 10 0 920.9260 UTILITY SHARE DEF COMP 2,676 4,433 3,166 19,000 40 1,574 2,989 1,443 48 920.9261 UTIL SH OF MEDICAL/DENTAL/DI 15,129 40,211 37,000 152.000 9 10,842 33,377 6,833 20 920.9262 UTILITY SHARE OF PERA 3,311 7,238 7,500 45,000 (3) 3,182 6,950 287 4 920.9263 UTILITY SHARE OF FICA 2,956 6,527 7,500 45,000 (13) 2,929 6,443 84 1 920.9264 EMPLOYEE SICK PAY 2,845 6,845 6,166 37,000 11 1,578 4,126 2,719 66 920.9265 EMPLOYEE HOLIDAY PAY 2,139 6,458 7,132 25,850 (9) 3,789 6,087 371 6 920.9266 EMPLOYEE VACATION&PTO PA 2,721 8,849 6,000 36,000 48 681 5,954 2,895 49 920.9267 UPMIC DISTRIBUTION 0 0 0 12,000 0 0 0 0 0 920.9268 MISCELLANEOUS-WELLHEAD P 0 0 166 1,000 (100) 0 0 0 0 920.9291 CONSULTING FEES 560 1,458 833 5,000 75 0 220 1,238 563 920.9301 TELEPHONE 449 896 883 5,300 1 411 825 70 9 920.9302 ADVERTISING 395 670 1,460 8,000 (54) 530 780 (110) (14) 920.9303 DUES&SUBSCRIPTIONS-FEES 1,137 2,069 9,750 42,000 (79) 9,305 9,945 (7,875) (79) 920.9304 TRAVEL EXPENSE 0 0 0 0 0 51 51 (51) (100) 920.9305 SCHOOLS&MEETINGS 1,211 2,348 5,130 29,594 (54) 1,521 2,827 (479) (17) 920.9321 MTCE OF GEN PLANT/OFF HEATIN 113 226 416 2,500 (46) 107 214 12 6 180 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Total For Administrative Expense: 55,455 129,120 140,339 749,331 (8) 56,148 118,478 10,641 9 General Expense 920.9269 CIP REBATES-RESIDENTIAL 100 315 750 4,500 (58) 165 265 50 19 920.9270 CIP REBATES-COMMERCIAL 0 0 83 500 (100) 0 0 0 0 920.9271 CIP-ADMINISTRATION 0 0 169 1,014 (100) 0 0 0 0 920.9272 CIP-MARKETING 0 0 125 750 (100) 0 0 0 0 920.9273 CIP-LABOR 343 724 834 5,009 (13) 334 694 29 4 920.9281 ENVIRONMENTAL COMPLIANCE 19 69 100 600 (30) 38 87 (17) (20) 920.9306 MISC GENERAL EXPENSE 1,123 1,122 0 0 0 0 0 1,122 0 Total For General Expense: 1,587 2,231 2,062 12,373 8 537 1,046 1,184 113 Total Expenses(before Operating Transfers) 219,300 466,723 502,755 2,912,985 (7) 212,456 458,164 8,559 2 Operating Transfer Net Income Profit(Loss) (23,481) (91,701) (196,653) (144,494) 53 (37,812) (148,064) 56,363 38 181