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5.1. ERMUSR 05-14-2019 Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Theresa Slominski — Finance & Office Manager MEETING DATE: AGENDA ITEM NUMBER: May 14, 2019 5.1 SUBJECT: Financial Report - March 2019 ACTION REQUESTED: Receive the March 2019 Financial Report DISCUSSION: Electric March's electric kWh sales are up from the prior year, 5%. For further breakdown: • Residential usage is up 11% • Small Commercial usage is down 2% • Large Commercial usage is up 3% Electric Operating Revenues for March of$2,814,861 are above the prior year by 4%and ahead of budget by 2%. March YTD is also ahead of prior year by 3 % and budget by 2%. The prior YTD variance is mainly due to not having the Dispersed Generation Credit since transitioning to MMPA. Other Revenues of$153,353 is less than the prior year by 17%and behind budget by 8%. Other Revenue YTD is below prior year by 30% but is ahead of budget by 6%. The main driver of the prior YTD variance is from Contributions from Customers. Overall, Total Revenues of$2,968,214 are above the prior year by 2% and are ahead of budget by 1%. YTD is above prior year by 1% and is ahead of budget by 2%. Purchased Power of$1,978,384 is more than the prior year by 10%, and above budget by 9%. YTD is less than prior year by 3% but is ahead of budget by 3%. The 5% kWh increase noted above in usage, is approximately 1 MW in total and the additional cost compared to budget is an increase in the following: Demand charges of$35k, Energy charges of$49k, and the EAC of $78k. Please note the actual margin on sales only decreased 1% compared to budget. Administrative Expenses of$255,696 are 7% more than the prior year, but 11% below budget. YTD costs are more than the prior year by 11%, but are less than budget by 7%. 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 2 362 General Expenses of$26,043 are 33% more than the prior year, but are 42% below budget. YTD costs are more than the prior year by 37% but are less than budget by 48%. The main driver causing the prior YTD variance is CIP Rebates being fully funded from ERMU. For expenses, in total YTD are 1% more than the prior year, but are in line with budget. For March 2019, the Electric Department has a Net Profit of$46,645 and YTD Net Profit of $491,737. This falls short of the budgeted monthly Net Profit of$113,415, and is less than the prior year monthly Net Profit of$261,444. This does however exceed the budgeted YTD Net Profit of$301,345, but is less than the prior YTD Net Profit of$540,736. Water March gallons of water sold are down 2%from the prior year. For further breakdown: • Residential use is flat • Commercial use is down 5% Water Operating Revenues for March of$122,856 are in line with the prior year and ahead of budget by 9%. YTD is ahead of prior year by 4%and is also ahead of budget by 14%. Other Revenues of$44,285 are above the prior year by 1%and ahead of prior YTD by 46%. The main driver causing the prior YTD variance is Connections Fees. Other Revenues are ahead of YTD budget by 30%. Overall, Total Revenues of$167,141 are in line with the prior year and ahead of prior YTD by 14%with Connection Fees being the driving force. YTD Total Revenues are ahead of budget by 18%. Total Expenses of$230,476 are more than the prior year by 9%, but are below YTD budget by 5%. For March 2019, the Water Department has a Net Loss of ($63,334) (typical for the water department) and YTD Net Loss of($155,036). This is ahead of the budgeted monthly Net Loss of($77,987), but is behind the prior year monthly Net Loss of($45,358). YTD is significantly ahead of the budgeted YTD Net Loss of($274,640), and is better than the prior YTD Net Loss of ($193,423). ATTACHMENTS: • Balance Sheet 3.2019 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 3.2019 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 3.2019 • Graphs Prior Year and YTD 2019 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 3.2019 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 3.2019 Page 2 of 2 363 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING MARCH 2019 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 9,890,776 5,271,302 ACCOUNTS RECEIVABLE 2,345,305 287,158 INVENTORIES 859,240 10,780 PREPAID ITEMS 186,880 23,646 CONSTRUCTION IN PROGRESS 225,123 19,763 TOTAL CURRENT ASSETS 13,507,324 5,612,650 RESTRICTED ASSETS BOND RESERVE FUND 1,261,359 0 EMERGENCY RESERVE FUND 2,700,528 1,303,573 UNRESTRICTED RESERVE FUND 0 0 TOTAL RESTRICTED ASSETS 3,961,887 1,303,573 FIXED ASSETS PRODUCTION 645,285 13,539,819 LFG PROJECT 3,619,202 0 TRANSMISSION 2,301,867 0 DISTRIBUTION 39,940,150 23,042,971 GENERAL 10,457,128 1,026,164 FIXED ASSETS(COST) 56,963,632 37,608,954 LESS ACCUMULATED DEPRECIATION (28,110,317) (17,902,799) TOTAL FIXED ASSETS,NET 28,853,315 19,706,155 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 0 LOSS OF REVENUE INTANGIBLE 1,733,743 0 LESS ACCUMULATED AMORTIZATION (332,916) 0 TOTAL INTANGIBLE ASSETS,NET 22,947,038 0 OTHER ASSETS AND DEFERRED OUTFLOWS 549,791 104,442 TOTAL ASSETS 69,819,355 26,726,819 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 3,355,192 196,042 SALARIES AND BENEFITS PAYABLE 633,860 112,907 DUE TO CITY 728,129 1,416 DUE TO OTHER FUNDS 0 0 NOTES PAYABLE-CURRENT PORTION 150,687 0 BONDS PAYABLE-CURRENT PORTION 225,000 0 UNEARNED REVENUE 8,190 73,692 TOTAL CURRENT LIABILITIES 5,101,059 384,057 LONG TERM LIABILITIES LFG PROJECT 619,692 0 DUE TO COUNTY 0 0 BONDS PAYABLE,LESS CURRENT PORTION 21,043,014 874,247 PENSION LIABILITIES 2,430,359 454,388 TOTAL LONG TERM LIABILITIES 24,093,065 1,328,635 TOTAL LIABILITIES 29,194,124 1,712,692 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) 491,737 (155,036) TOTAL FUND EQUITY 39,943,537 24,886,675 TOTAL LIABILITIES&FUND EQUITY 69,819,355 26,726,819 364 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 2,559,464 8,000,305 7,897,974 34,154,535 I 2,534,415 7,978,157 22,147 0 Otsego 203,211 652,380 618,416 2,715,484 5 200,175 624,694 27,685 4 Rural Big Lake 14,851 48,070 45,347 187,389 6 14,536 45,807 2,263 5 Dayton 18,236 57,906 53,735 221,713 8 17,452 54,280 3,625 7 Public St&Hwy Lighting 18,696 56,170 54,357 217,972 3 18,026 54,909 1,261 2 Generation and Sub Station Credit 400 1,200 1,200 4,800 0 400 1,200 0 0 Dispersed Generation Credit 0 0 0 0 0 (70,530) (204,566) 204,566 (100) Total Operating Revenue 2,814,861 8,816,033 8,671,030 37,501,895 2 2,714,477 8,554,483 261,549 3 Other Operating Revenue Interest/Dividend Income 12,912 44,370 20,000 80,000 122 5,799 16,797 27,572 164 Customer Penalties 15,672 60,339 58,243 250,000 4 24,884 28,896 31,443 109 LFG Project 84,502 272,965 289,348 1,157,393 (6) 89,457 270,881 2,084 1 Connection Fees 7,125 19,635 14,550 150,000 35 13,753 27,338 (7,703) (28) Misc Revenue 33,141 99,912 87,500 351,050 14 50,046 364,352 (264,439) (73) Total Other Revenue 153,353 497,222 469,642 1,988,443 6 183,941 708,265 (211,042) (30) Total Revenue 2,968,214 9,313,255 9,140,672 39,490,338 2 2,898,419 9,262,748 50,506 1 Expenses Purchased Power 1,978,384 5,920 499 5,770,238 25,724,105 3 1,790,924 6,134,721 (214,221) (3) Operating&Mtce Expense 31,853 104,356 77,534 280,610 35 20,374 74,584 29,772 40 Landfill Gas 62,986 185,013 189,635 787,740 (2) 60 449 176,294 8,719 5 Transmission Expense 3,198 6,624 9,549 38,199 (31) 1,677 3,850 2,773 72 Distribution Expense 44,173 109,160 98,378 393,516 11 26,462 66,995 42,164 63 Maintenance Expense 92,390 292,043 367,651 1,308,092 (21) 145,755 415,408 (123,364) (30) Depreciation&Amortization 233,503 699,488 708'347 2,895,535 (I) 177,425 533,184 166,304 31 Interest Expense 53,704 164,507 164,506 636,479 0 23,239 70,351 94,155 134 Other Operating Expense 7,614 15,262 7,087 130,848 (115) 5,735 29,748 (14,486) 49 Customer Accounts Expense 28,956 77,367 85,494 349,000 (10) 26,117 71,670 5,697 8 Administrative Expense 255,696 848,007 907,522 3,444,406 (7) 237,916 765,961 82,045 11 General Expense 26,043 71,328 135,870 543,149 (48) 19,639 52,118 19,209 37 Total Expenses(before Operating Transfers) 2,818,507 8,493,658 8,521,816 36,531,680 0 2,535,717 8,394,890 98,768 1 Operating Transfer Operating Transfer/Other Funds 86,430 275,637 264,311 1,150,000 4 84,342 273,197 2,439 1 Utilities&Labor Donated 16,631 52,221 53,198 215,000 (2) 16,915 53,923 (1,702) (3) Total Operating Transfer 103,061 327,859 317,510 1,365,000 3 101,257 327,121 737 0 Net Income Profit(Loss) 46,645 491,737 301,345 1,593,658 63 261,444 540,736 (48,999) 9 365 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 122,856 380,425 335,117 2,240,089 14 122,733 366,031 14,394 4 Total Operating Revenue 122,856 380,425 335,117 2,240,089 14 122,733 366,031 14,394 4 Other Operating Revenue Interest/Dividendlncome 3,197 11,134 5,212 20,850 114 1,449 4,199 6,935 165 Customer Penalties 859 4,164 4,462 18,000 (7) 1,374 1,702 2,462 145 Connection Fees 19,904 85,195 56,000 224,000 52 21,618 46,573 38,622 83 Misc Revenue 20,323 61,242 59,149 265,552 4 19,387 58,157 3,085 5 Total Other Revenue 44,285 161,737 124,824 528,402 30 43,830 110,632 51,105 46 Total Revenue 167,141 542,163 459,941 2,768,491 18 166,564 476,664 65,499 14 Expenses Production Expense 12,762 18,794 12,875 51,500 46 5,308 14,000 4,793 34 Pumping Expense 33,711 113,602 124,628 540,464 (9) 34,166 110,278 3,324 3 Distribution Expense 15,738 55,958 78,973 272,163 (29) 11,030 44,621 11,336 25 Depreciation&Amortization 96,439 288,836 287,766 1,175,214 0 101,065 303,111 (14,275) (5) Interest Expense 2,682 8,794 8,794 32,939 0 3,429 11,000 (2,206) (20) Other Operating Expense 1,486 2,307 625 7,500 269 1115 1,260 1047 83 Customer Accounts Expense 5,342 15,239 17,874 71,500 (15) 5,,551 ,16030 (791) (5) Administrative Expense 61,646 190,766 199,951 749,331 (5) 49,291 167,,770 22,996 14 General Expense 668 2,899 3,093 12,373 (6) 966 2,013 886 44 Total Expenses(before Operating Transfers) 230,476 697,199 734,582 2,912,985 (5) 211,923 670,087 27,112 4 Operating Transfer Net Income Profit(Loss) (63,334) (155,036) (274,640) (144,494) 44 (45,358) (193,423) 38,387 20 366 Elk River Municipal Utilities Monthly Electrical Demand 70.0 60.0 �i �, t 55.0 Mt c k :a 50.0 y %‘}. 0 45.0 ��`` t ..+..+,+ 40 0 �� 35.0 30.0 6c1 0�` c� a� e �� 5� ec ec & es a��a ��(6 lac_.{ QQ \S ��° Y JAB e,� 6,., eta0 11 Qe P e4� p �o� '0 Month -4--2018 --.-2019 Elk River Municipal Utilities Monthly Energy Purchases 34,000 _A----, • • = 29,000 ! ,e►'� `�l.� 24,000 . m a t o Q. 19,000 rn m c w 14,000 c1 c1 ar �� �� e �� 5o\ e� e� e� e� •ac a mac-- �m� PQ �S ��� �° P°�� �e�� o�o� ,ego oe�� Fe CO �o Ce Month —♦--2018 -N-2019 367 Elk River Municipal Utilities Monthly Total Electric Load 40000 35000 --- ----- -- 30,000 i 0 25,000 = J a„i 20,000 W 15,000 10,000 a)'4' ,00q' ���cc Pc� �a� )J�e �J�� S5 eeee oee` es eeee ee Qe P eQ,,' O o4 eo Month 5 4--2018 -.-2019 - - - Elk River Municipal Utilities Monthly Electric Sales $4,500,000 A $4,000,000 "l • • \ • \ I ---- $3,500,000 is/ ` Cl) / ` L 2 $3,000,000 / � CI y ``C ._ $2,500,000 ur m m N $2,000,000 $1,500,000 $1,000,000 ���6 Ja6 m�Gr PQ�\ �a� ice ���� \$- pe§ ooee oec oe� Y- e�c PJ eQ�ec� cf, oAG oe � e � Month 0 -4--2018 f2019 368 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 25,000 20,000 ...4")4"*. ,... • ssx, • "'-,,ie ....X. •-...)10,..... ..., ....._ >,-....,;..44....,.--z.zr, ,... ''''•/, , 15,000 -'— .., ,,...... i 2 .....016.%.,„ .E 10,000 7--- is M3 ...."'..." CIS ... .... •••+" '"4, '' "..... •er...''. 5,000 xi........044.......--o-...........„A--- it---- -—-A-*-- - ---,6-—-A---- 6 6 C,cs •\ -- z \-\ ,..,,,, „...„.7,. ,,,, ,„). ,,,,,,,,,,, ,,,,,,,..k ,1/4.0„00C ee,c cc,„„e, ,t,.‹,,g' <<"?'" ‘v,k. P- c,,e cf.> 0,e, _cje c° Month -4-.2018 Residential -41-2019 Residential -.0-2018 Commercial —K-2019 Commercial -41(--2018 Industrial —0-2019 Industrial 1---- I Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $2,500,000 „X.._ $2,000,000 N, , ,...... —0-- ..,,%, o ... ... • • ..% e .. u) ... ..X° co $1,500,000 ---iyi..7.26."""-........-7 —52.-- c7 ....if ...ys in ..., c ... .. ._ .... 4,0 **•• CT $1,000,000 % 1.........,....4.-.ii.-- ' .."'''.' (i) $500,000 yg......0+0411,0•A‘i*......,644.,___Ar...- ---A•-*".4.---0-- __-A-. --A $0 6 6 6c` ,s-1 csz .--\ ‘),c;`• ,cpc ,,oec soes ,pc \•-. sP eccs 6C) e e 9 Month -4--2018 Residential —11-2019 Residential -*--2018 Commercial --K--2019 Commercial -.K--2018 Industrial —11-2019 Industrial 369 Elk River Municipal Utilities Monthly Water Pumpage 140 120 To •d)..—'...7.% • 0 0° • c 1 00 .....° % 0 • • • i 80 / Ilk% a) 60 _%___________ as ca. E .. .. = 40 111—ZZ-1F—,—=111. 11.- 20 0 6 6 r \ ,c;`• / \csQos ,c,,,oec ez ,,ib• .)"°' 4,qc,`" ,-9 ,P 's,- Month —4—-20 1 8 --N-2019 Elk River Municipal Utilities Peak Day Pumpage es e,s,i,,,, es 6 5 .... • ... "•••''' ... • ... •• —, 4 - / 0 / c / o / 3 / S. ‘ ‘‘‘‘‘, / c / / cli 2 0 at ,,,,, 4) 0- 1 ,., :'.....- afr-1,7... -1: ' .. - ,.......... ,, .,:,,„ , : , ::,.,,_1,,,..14, 4; 0 ,7,6 sigy6 6.1-6 ,i.9c\\ \..\\*.etA c‘<z, )`''..\ ,)•''').';' ccs‘6zc '.C3'Q '0 .0 OCC\ 6 C.\ 1?"' 0 C' G 'Z''C' ','C) C0e9‘C'3 Month —4—-2 0 1 8 -E-2019 370 Elk River Municipal Utilities Monthly Water Sales 140.0 120.0 - I `♦I ♦ 100.0 I - -I- •♦- CTcs ♦I � • c 80.0 - I ♦ 0 I ♦ I ♦♦ I 60.0 *I ----- , c I m 40.0 - - �.» co 20.0 - 0.0 t 6 o � PQ� a.:\ )ice �� ‘)J 5" c ec ec Qo p e acea ea �c P e po � c oe� R o eg co Month -4--2018 -.--2019 Elk River Municipal Utilities Monthly Water Sales 50 $4000, $400,000 ---- - -- -- 4)• -- I • • $350,000 - ..__... - - I • - - i )R ;n $300,000 r-___ ♦ as "� ♦ o ♦ in $250,000 ♦ I • $200,000 j -.... % -....- - tn $150,000 0-4 - `y _. ' �� $50,000 .................................... ----..-.- - - MonthAZ -4--2018 -.-2019 371 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 440.4411 ELECT SALES/ELK RIVER RES 939,878 3,027,741 2,845,877 11,820,595 6 879,161 2,874,769 152,971 5 440.4412 ELECT SALES/ER NON-DEMAND 257,313 768,789 794,821 3,180,355 (3) 268,438 802,891 (34,101) (4) 440.4413 ELECT SALES/ER DEMAND 1,362,272 4,203,774 4,257,275 19,153,584 (1) 1,386,815 4,300,496 (96,722) (2) Total For Elk River: 2,559,464 8,000,305 7,897,974 34,154,535 1 2,534,415 7,978,157 22,147 0 Otsego 440.4416 ELECT SALES/OTSEGO RES 94,312 307,021 294,991 1,239,338 4 96,061 297,986 9,035 3 440.4417 ELECT SALES/OTSEGO NON-DEM 28,035 89,315 94,960 447,270 (6) 30,852 95,924 (6,608) (7) 440.4418 ELECT SALES/OTSEGO DEMAND 80,864 256,042 228,464 1,028,876 12 73,262 230,784 25,258 11 Total For Otsego: 203,211 652,380 618,416 2,715,484 5 200,175 624,694 27,685 4 Rural Big Lake 440.4421 ELECT SALES/BIG LAKE RES 14,699 47,606 44,922 183,510 6 14,390 45,378 2,227 5 440.4422 ELECT SALES/BL NON-DEMAND 152 464 424 3,878 9 146 428 35 8 Total For Rural Big Lake: 14,851 48,070 45,347 187,389 6 14,536 45,807 2,263 5 Dayton 440.4431 ELECTSALES/DAYTONRES 15,463 49,199 45,623 185,782 8 14,863 46,086 3,113 7 440.4432 ELECT SALES/DAYTON NON-DEM 2,773 8,706 8,112 35,931 7 2,589 8,194 512 6 Total For Dayton: 18,236 57,906 53,735 221,713 8 17,452 54,280 3,625 7 Public St&Hwy Lighting 440.4414 ELECT SALES/ELK RIVER SEC LTS 18,696 56,170 54,357 217,972 3 18,026 54,909 1,261 2 Total For Public St&Hwy Lighting: 18,696 56,170 54,357 217,972 3 18,026 54,909 1,261 2 Generation and Sub Station Credit 440.4550 SUB-STATION CREDIT 400 1,200 1,200 4,800 0 400 1,200 0 0 Total For Generation and Sub Station Credit: 400 1,200 1,200 4,800 0 400 1,200 0 0 Dispersed Generation Credit 440.4552 DISPERSED GENERATION CREDIT 0 0 0 0 0 (70,530) (204,566) 204,566 (100) Total For Dispersed Generation Credit: 0 0 0 0 0 (70,530) (204,566) 204,566 (100) Total Operating Revenue 2,814,861 8,816,033 8,671,030 37,501,895 2 2,714,477 8,554,483 261,549 3 Other Operating Revenue Interest/Dividend Income 460.4691 INTEREST&DIVIDEND INCOME 12,912 44,370 20,000 80,000 122 5,799 16,797 27,572 164 Total For Interest/Dividend Income: 12,912 44,370 20,000 80,000 122 5,799 16,797 27,572 164 Customer Penalties 372 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% 470.4701 CUSTOMER DELINQUENT PENALT 15,672 60,339 58,243 250,000 4 24,884 28,896 31,443 109 Total For Customer Penalties: 15,672 60,339 58,243 250,000 4 24,884 28,896 31,443 109 LFG Project 470.4721 LFG PROJECT 84,502 272,965 289,348 1,157,393 (6) 89,457 270,881 2,084 1 Total For LFG Project: 84,502 272,965 289,348 1,157,393 (6) 89,457 270,881 2,084 1 Connection Fees 470.4702 DISCONNECT&RECONNECT CHA 7,125 19,635 14,550 150,000 35 13,753 27,338 (7,703) (28) Total For Connection Fees: 7,125 19,635 14,550 150,000 35 13,753 27,338 (7,703) (28) Misc Revenue 470.4703 MISC ELEC REVENUE-TEMP CHG 0 0 0 0 0 0 600 (600) (100) 470.4715 TRANSMISSION INVESTMENTS 26,180 78,342 50,000 200,000 57 34,966 50,368 27,974 56 470.4722 MISC NON-UTILITY 4,941 14,168 12,500 50,000 13 4,428 14,698 (529) (4) 470.4739 PERA PENSION OTHER REVENUE 0 0 0 1,050 0 0 0 0 0 470.4750 RENTAL PROPERTY INCOME 2,020 7,400 6,249 25,000 18 2,060 6,180 1,220 20 470.4770 CONTRIBUTIONS FROM CUSTOME 0 0 18,750 75,000 (100) 8,591 292,505 (292,505) (100) Total For Misc Revenue: 33,141 99,912 87,500 351,050 14 50,046 364,352 (264,439) (73) Total Other Revenue 153,353 497,222 469,642 1,988,443 6 183,941 708,265 (211,042) (30) Total For Total Other Revenue: 153,353 497,222 469,642 1,988,443 6 183,941 708,265 (211,042) (30) Total Revenue 2,968,214 9,313,255 9,140,672 39,490,338 2 2,898,419 9,262,748 50,506 1 Expenses Purchased Power 540.5551 PURCHASED POWER 1,978,384 5,920,499 5,770,238 25,724,105 3 1,790,924 6,134,721 (214,221) (3) Total For Purchased Power: 1,978,384 5,920,499 5,770,238 25,724,105 3 1,790,924 6,134,721 (214,221) (3) Operating&Mtce Expense 540.5461 OPERATING SUPERVISION 8,791 26,743 27,327 109,310 (2) 8,022 24,221 2,521 10 540.5471 DIESEL OIL FUEL 1,625 3,545 3,999 16,000 (11) 314 3,514 30 1 540.5472 NATURAL GAS 2,410 9,916 11,281 26,000 (12) 2,597 9,850 65 1 540.5483 STATION PWR&WTR CONSP/PLA 3,001 10,647 10,850 33,000 (2) 2,782 10,554 93 1 540.5484 OTHER EXP/PLANT SUPPLIES-ETC 453 1,548 900 3,600 72 327 723 824 114 540.5491 MISC OTHER PWR GENERATION E 0 984 1,299 5,200 (24) 528 3,728 (2,744) (74) 540.5521 MAINTENANCE OF STRUCTURE/P 5,767 12,639 7,500 30,000 69 1,728 5,851 6,788 116 540.5531 MTCE OF ENGINES/GENERATORS- 3,570 9,481 9,375 37,500 1 2,511 4,867 4,613 95 540.5541 MTCE OF PLANT/LAND IMPROVE 6,234 28,851 5,000 20,000 477 1,560 11,272 17,579 156 373 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% Total For Operating&Mtce Expense: 31,853 104,356 77,534 280,610 35 20,374 74,584 29,772 40 Landfill Gas 550.5050 LFG PURCHASED GAS 14,486 41,132 43,141 172,565 (5) 14,437 39,936 1,196 3 550.5051 LANDFILL GAS O&M 45,833 137,499 137,499 550,000 0 43,350 130,052 7,447 6 550.5052 LFG ADMIN 155 1,046 2,400 38,800 (56) 250 1,270 (224) (18) 550.5053 LFG INSURANCE 1,412 4,236 5,093 20,375 (17) 1,312 3,936 300 8 550.5054 LFG MTCE 1,098 1,098 1,500 6,000 (27) 1,099 1,099 0 0 Total For Landfill Gas: 62,986 185,013 189,635 787,740 (2) 60,449 176,294 8,719 5 Transmission Expense 560.5620 TRANSMISSION MTCE AND EXPE 3,198 6,624 9,549 38,199 (31) 1,677 3,850 2,773 72 Total For Transmission Expense: 3,198 6,624 9,549 38,199 (31) 1,677 3,850 2,773 72 Distribution Expense 580.5801 REMOVE EXISTING SERV&METE 93 93 624 2,500 (85) 418 418 (325) (78) 580.5821 SCADA EXPENSES 4,522 8,430 7,749 31,000 9 1,650 4,650 3,780 81 580.5831 TRANSFORMER EX/OVERHD&UN 830 2,757 6,249 25,000 (56) 4,350 6,686 (3,929) (59) 580.5851 MTCE OF SIGNAL SYSTEMS 50 50 650 2,600 (92) 0 621 (571) (92) 580.5861 METER EXP-REMOVE&RESET 0 0 624 2,500 (100) (345) (345) 345 (100) 580.5871 TEMP SERVICE-INSTALL&REMO 225 225 624 2,500 (64) 176 607 (382) (63) 580.5881 MISC DISTRIBUTION EXPENSE 36,036 95,187 81,249 325,000 17 20,213 54,356 40,830 75 580.5890 INTERCONNECTION CARRYING C 2,416 2,416 603 2,416 300 0 0 2,416 0 Total For Distribution Expense: 44,173 109,160 98,378 393,516 11 26,462 66,995 42,164 63 Maintenance Expense 590.5911 MTCE OF STRUCTURES 58 2,417 1,875 7,500 29 616 1,309 1,108 85 590.5921 MTCE OF SUBSTATIONS 1,716 4,550 6,375 25,500 (29) 1,226 3,648 902 25 590.5922 MTCE OF SUBSTATION EQUIPME 601 735 8,750 35,000 (92) 0 0 735 0 590.5931 MTCE OF OVERHD LINES TREE TR 20,557 55,530 70,800 125,000 (22) 60,380 133,753 (78,223) (58) 590.5932 MTCE OF OVERHD LINES/STANDB 2,280 6,516 7,749 31,000 (16) 2,024 7027 (510) (7) 590.5933 MTCE OF OVERHEAD 8,278 25,065 23,172 155,000 8 4,305 21,,449 3,615 17 590.5941 MTCE OF UNDERGROUND/DISTRI 5,407 16,598 29,499 118,000 (44) 4,580 13,531 3,067 23 590.5943 LOCATE ELECTRIC LINES 3,899 10,615 12,027 100,000 (12) 2,799 5,549 5,065 91 590.5951 MTCE OF LINE TRANSFORMERS 942 12,688 12,750 51,000 0 4,407 16,052 (3,364) (21) 590.5961 MTCE OF STREET LIGHTING 7,335 17,729 10,250 41,000 73 4,732 13,557 4,171 31 590.5962 MTCE OF SECURITY LIGHTING 94 790 3,249 13,000 (76) (745) 2,458 (1,668) (68) 590.5971 MTCE OF METERS 5,364 17,214 37,500 150,000 (54) 14,972 48,341 (31,126) (64) 590.5972 VOLTAGE COMPLAINTS 1,123 2,353 2,075 8,300 13 682 1,554 798 51 374 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% 590.5981 SALARIES/TRANS&DISTRIBUTIO 3,307 10,090 13,448 53,792 (25) 3,057 9,198 892 10 590.5985 ELECTRIC MAPPING 8,609 28,608 31,250 125,000 (8) 13,463 38,554 (9,946) (26) 590.5991 MTCE OF OVERHEAD SERVICE/2N 830 2,677 2,751 18,000 (3) 821 2,419 258 11 590.5992 MTCE OF UNDERGROUND ELEC S 1,646 5,631 10,250 41,000 (45) 1,454 3,804 1,827 48 590.5993 LOCATE UNDERGROUND SECOND 0 0 0 0 0 2,297 4,106 (4,106) (100) 590.5995 TRANSPORTATION EXPENSE 20,334 72,228 83,878 210,000 (14) 24,678 89,091 (16,862) (19) Total For Maintenance Expense: 92,390 292,043 367,651 1,308,092 (21) 145,755 415,408 (123,364) (30) Depreciation&Amortization 595.8031 DEPRECIATION 177,825 532,454 708,347 2,895,535 (25) 177,425 533,184 (729) 0 595.8032 AMORTIZATION 55,677 167,033 0 0 0 0 0 167,033 0 Total For Depreciation&Amortization: 233,503 699,488 708,347 2,895,535 (1) 177,425 533,184 166,304 31 Interest Expense 596.8071 INTEREST ON BONDS/LONG TERM 57,993 177,374 177,374 687,947 0 27,472 83,050 94,323 114 596.8075 INTEREST ON DEFEASED BONDS (276) (829) (829) (3,316) 0 (276) (829) 0 0 597.8281 AMORTIZATION OFDEBTDISCOU (4,012) (12,037) (12,038) (48,152) 0 (3,956) (11,869) (168) 1 Total For Interest Expense: 53,704 164,507 164,506 636,479 0 23,239 70,351 94,155 134 Other Operating Expense 597.8165 EV CHARGING EXPENSE 405 1,190 1,212 4,848 (2) 273 767 422 55 597.8213 LOSS ON DISPOSITION OF PROP(C 0 0 0 0 0 0 20,962 (20,962) (100) 597.8263 OTHER DONATIONS 0 0 625 5,000 (100) 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 2,031 6,097 3,750 15,000 63 1,144 3,413 2,683 79 597.8400 RENTAL PROPERTY EXPENSE 5,177 7,974 1,500 6,000 432 4,316 4,604 3,369 73 Total For Other Operating Expense: 7,614 15,262 7,087 130,848 115 5,735 29,748 (14,486) 49 Customer Accounts Expense 900.9021 METER READING EXPENSE 2,411 5,773 7,500 30,000 (23) 1,342 4,731 1,041 22 900.9030 COLLECTING EXP DISC/RECONNE 869 2,193 1,994 15,000 10 594 1,820 372 20 900.9051 MISC CUSTOMER ACCTS EXP-CO 24,933 66,673 64,749 259,000 3 21,418 61,804 4,869 8 900.9061 CUST BLGS NOT PD/SENT FOR CO 743 2,727 11,250 45,000 (76) 2,762 3,313 (586) (18) Total For Customer Accounts Expense: 28,956 77,367 85,494 349,000 (10) 26,117 71,670 5,697 8 Administrative Expense 920.9201 SALARIES/OFFICE&COMMISSION 60,290 169,805 194,033 776,132 (12) 46,355 146,706 23,099 16 920.9205 TEMPORARY STAFFING 0 0 999 4,000 (100) 6,406 9,452 (9,452) (100) 920.9211 OFFICE SUPPLIES&EXPENSE 7,822 18,265 29,750 119,000 (39) 4,736 22,400 (4,134) (18) 920.9212 LT&WATERCONSUMPTION/OFFI 2,157 6,591 7,892 35,000 (16) 2,071 6,239 352 6 375 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% 920.9213 BANK CHARGES 188 609 750 3,000 (19) 211 705 (96) (14) 920.9221 LEGAL FEES 2,019 6,940 7,500 30,000 (7) 4,073 9,189 (2,248) (24) 920.9231 AUDITING FEES 1,420 4,020 4,020 16,080 0 1,300 3,900 120 3 920.9241 INSURANCE 12,033 36,170 39,725 158,900 (9) 11,696 34,844 1,325 4 920.9260 UTILITY SHARE DEF COMP 11,843 35,079 30,000 120,000 17 6,127 18,349 16,729 91 920.9261 UTIL SH OF MEDICAL/DENTAL/DI 52,996 216,840 226,500 735,000 (4) 49,787 199,997 16,843 8 920.9262 UTILITY SHARE OF PERA 19,276 58,046 61,250 245,000 (5) 18,290 54,068 3,978 7 920.9263 UTILITY SHARE OF FICA 17,967 54,382 58,749 235,000 (7) 17,157 50,820 3,561 7 920.9264 EMPLOYEE SICK PAY 9,154 39,364 28,749 115,000 37 9,271 34,279 5,085 15 920.9265 EMPLOYEE HOLIDAY PAY 0 35,312 33,670 128,000 5 0 32,489 2,823 9 920.9266 EMPLOYEE VACATION&PTO PA 17,348 68,410 51,249 205,000 33 13,500 48,770 19,639 40 920.9267 UPMIC DISTRIBUTION 14,175 14,175 14,750 59,000 (4) 12,952 12,952 1,222 9 920.9291 CONSULTING FEES 2,884 8,716 7,500 30,000 16 0 880 7,836 890 920.9301 TELEPHONE 1,819 5,463 5,292 21,168 3 2,072 5,458 5 0 920.9302 ADVERTISING 1,120 4,194 8,766 18,000 (52) 1,318 4,582 (388) (8) 920.9303 DUES&SUBSCRIPTIONS-FEES 7,321 22,716 39,999 160,000 (43) 11,938 28,259 (5,543) (20) 920.9304 TRAVEL EXPENSE 0 0 0 0 0 2,778 5,235 (5,235) (100) 920.9305 SCHOOLS&MEETINGS 13,402 41,543 54,874 225,126 (24) 15,440 35,090 6,453 18 920.9321 MTCE OF GEN PLANT/OFF HEATIN 453 1,359 1,500 6,000 (9) 430 1,290 69 5 Total For Administrative Expense: 255,696 848,007 907,522 3,444,406 (7) 237,916 765,961 82,045 11 General Expense 920.9269 CIP REBATES-RESIDENTIAL 4,800 7,713 16,637 66,550 (54) 1,605 2,405 5,308 221 920.9270 CIP REBATES-COMMERCIAL 660 10,712 44,049 176,200 (76) 525 0 10,712 0 920.9271 CIP-ADMINISTRATION 167 258 31,566 126,265 (99) 49 192 65 34 920.9272 CIP-MARKETING 1,452 3,568 8,400 33,600 (58) 669 2,964 603 20 920.9273 CIP-LABOR 15,161 38,397 26,758 107,034 43 10,845 33,066 5,330 16 920.9274 CIP REBATES-LOW INCOME 865 1,798 375 1,500 380 0 445 1,353 303 920.9275 CIP-LOW INCOME LABOR 796 2,154 0 0 0 1,761 4,848 (2,694) (56) 920.9281 ENVIRONMENTAL COMPLIANCE 2,302 6,900 6,832 27,000 1 2,026 6,068 831 14 920.9306 MISCGENERALEXPENSE (160) (175) 1,250 5,000 (114) 2,156 2,125 (2,301) (108) Total For General Expense: 26,043 71,328 135,870 543,149 (48) 19,639 52,118 19,209 37 Total Expenses(before Operating Transfers) 2,818,507 8,493,658 8,521,816 36,531,680 0 2,535,717 8,394,890 98,768 1 Operating Transfer Operating Transfer/Other Funds 376 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Electric MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% 597.8262 TRANSFER TO CITY 4%ER REVEN 86,430 275,637 264,311 1,150,000 4 84,342 273,197 2,439 1 Total For Operating Transfer/Other Funds: 86,430 275,637 264,311 1,150,000 4 84,342 273,197 2,439 1 Utilities&Labor Donated 597.8261 UTILITIES&LABOR DONATED 16,631 52,221 53,198 215,000 (2) 16,915 53,923 (1,702) (3) Total For Utilities&Labor Donated: 16,631 52,221 53,198 215,000 (2) 16,915 53,923 (1,702) (3) Total Operating Transfer Total For Total Operating Transfer: 103,061 327,859 317,510 1,365,000 3 101,257 327,121 737 0 Net Income Profit(Loss) 46,645 491,737 301,345 1,593,658 63 261,444 540,736 (48,999) 9 377 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 610.6101 WATER SALES RESIDENTIAL 74,396 230,613 202,056 1,222,640 14 122,733 366,031 (135,417) (37) 610.6102 WATER SALES COMMERCIAL 47,042 145,523 129,701 783,135 12 0 0 145,523 0 610.6103 WATER SALES IRRIGATION 1,416 4,288 3,360 234,313 28 0 0 4,288 0 Total For Water Sales: 122,856 380,425 335,117 2,240,089 14 122,733 366,031 14,394 4 Total Operating Revenue 122,856 380,425 335,117 2,240,089 14 122,733 366,031 14,394 4 Total For Total Operating Revenue: 122,856 380,425 335,117 2,240,089 14 122,733 366,031 14,394 4 Other Operating Revenue Interest/Dividend Income 460.4691 INTEREST&DIVIDEND INCOME 3,197 11,134 5,000 20,000 123 1,449 4,199 6,935 165 460.4692 OTHER INT/MISC REVENUE 0 0 212 850 (100) 0 0 0 0 Total For Interest/Dividend Income: 3,197 11,134 5,212 20,850 114 1,449 4,199 6,935 165 Customer Penalties 620.6301 CUSTOMER PENALTIES 859 4,164 4,462 18,000 (7) 1,374 1,702 2,462 145 Total For Customer Penalties: 859 4,164 4,462 18,000 (7) 1,374 1,702 2,462 145 Connection Fees 620.6401 WATER/ACCESS/CONNECTION FE 20,376 77,872 50,000 200,000 56 19,668 42,519 35,353 83 620.6402 CUSTOMER CONNECTION FEES (471) 4,581 5,000 20,000 (8) 1,562 3,666 915 25 620.6407 BULK WATER SALES/IIYDRANT R 0 2,742 999 4,000 174 388 388 2,354 607 Total For Connection Fees: 19,904 85,195 56,000 224,000 52 21,618 46,573 38,622 83 Misc Revenue 470.4722 MISCNQN-UTILITY 0 0 75 300 (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 505 1,850 1,500 6,000 23 515 1,545 305 20 620.6260 TRANSFER IN FROM CITY 0 0 0 25,000 0 0 0 0 0 620.6403 MISCELLANEOUS REVENUE 0 396 0 0 0 0 0 396 0 620.6404 HYDRANT MAINTENANCE PROGR 1,210 3,170 1,749 7,000 81 980 2,934 236 8 620.6406 WATER TOWER LEASE 18,608 55,824 55,824 227,050 0 17,892 53,677 2,147 4 Total For Misc Revenue: 20,323 61,242 59,149 265,552 4 19,387 58,157 3,085 5 Total Other Revenue 44,285 161,737 124,824 528,402 30 43,830 110,632 51,105 46 Total For Total Other Revenue: 44,285 161,737 124,824 528,402 30 43,830 110,632 51,105 46 378 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% Total Revenue 167,141 542,163 459,941 2,768,491 18 166,564 476,664 65,499 14 Expenses Production Expense 700.7021 MTCE OF STRUCTURES 12,762 18,794 12,875 51,500 46 5,305 14,000 4,793 34 Total For Production Expense: 12,762 18,794 12,875 51,500 46 5,308 14,000 4,793 34 Pumping Expense 710.7101 SUPERVISION 4,355 12,182 15,866 63,464 (23) 5,013 13,992 (1,809) (13) 710.7181 ELECTRIC&GAS UTILITIES 15,175 52,275 44,512 220,000 17 13,372 45,927 6,348 14 710.7182 SAMPLING 771 2,610 4,500 18,000 (42) 1,074 4,598 (1,988) (43) 710.7183 CHEMICAL FEED 180 810 6,750 27,000 (88) 180 3,052 (2,242) (73) 710.7220 MTCE OF WELLS 11,709 43,924 50,000 200,000 (12) 14,126 41,956 1,967 5 710.7230 SCADA-PUMPING 1,519 1,799 3,000 12,000 (40) 399 750 1,048 140 Total For Pumping Expense: 33,711 113,602 124,628 540,464 (9) 34,166 110,278 3,324 3 Distribution Expense 730.7301 MICE OF WATER MAINS 6,967 16,028 22,500 90,000 (29) 2,111 8,460 7,568 89 730.7309 LOCATE WATERLINES 125 818 3,875 15,500 (79) 934 1,924 (1,106) (57) 730.7310 LOCATE WATER MAIN (33) 0 0 0 0 16 50 (50) (100) 730.7312 WATER METER SERVICE 3,468 11,164 10,500 42,000 6 1,484 6,279 4,885 78 730.7321 MTCE OF CUSTOMERS SERVICE 1,983 5,697 6,249 25,000 (9) 1640 4,826 871 18 730.7325 WATER MAPPING 2,109 2,983 3,999 16,000 (25) 1,,468 4,227 (1,244) (29) 730.7331 MTCE OF WATER HYDRANTS-PU 59 1,054 6,750 27,000 (84) 857 658 395 60 730.7332 MTCE OF WATER HYDRANTS-PR 0 182 3,000 12,000 (94) 0 0 182 0 730.7341 WATER CLOTHING/PPE 11 2,228 1,749 7,000 27 0 308 1,920 621 730.7391 WAGES/WATER 514 1,630 1,915 7,663 (15) 416 1,395 235 17 730.7395 TRANSPORTATION EXPENSE 530 2,020 3,432 15,000 (41) 871 3,505 (1,484) (42) 730.7399 GENERAL EXP WATER PERMIT 0 12,148 15,000 15,000 (19) 1,230 12,984 (836) (6) Total For Distribution Expense: 15,738 55,958 78,973 272,163 (29) 11,030 44,621 11,336 25 Depreciation&Amortization 595.8031 DEPRECIATION 96,439 288,836 287,766 1,175,214 0 101,065 303,111 (14,275) (5) Total For Depreciation Si Amortization: 96,439 288,836 287,766 1,175,214 0 101,065 303,111 (14,275) (5) Interest Expense 596.8071 INTEREST ON BONDS/LONG TERM 2,751 9,001 9,001 33,768 0 3,498 11,208 (2,206) (20) 596.8075 INTEREST ON DEFEASED BONDS (69) (207) (207) (829) 0 (69) (207) 0 0 Total For Interest Expense: 2,682 8,794 8,794 32,939 0 3,429 11,000 (2,206) (20) Other Operating Expense 379 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% 597.8264 DAM MAINTENANCE EXPENSE 130 130 125 500 5 0 0 130 0 597.8302 PENSION EXPENSE 0 0 0 5,000 0 0 0 0 0 597.8341 INTEREST PD ON METER DEPOSIT 60 183 125 500 46 36 108 74 68 597.8400 RENTAL PROPERTY EXPENSE 1,294 1,993 375 1,500 432 1,079 1,151 842 73 Total For Other Operating Expense: 1,486 2,307 625 7,500 269 1,115 1,260 1,047 83 Customer Accounts Expense 900.9021 METER READING EXPENSE 103 403 2,499 10,000 (84) 554 1,506 (1,103) (73) 900.9051 MISC CUSTOMER ACCTS EXP-CO 5,238 14,836 15,125 60,500 (2) 4,996 14,466 369 3 900.9061 CUST BLGS NOT PD/SENT FOR CO 0 0 249 1,000 (100) 0 57 (57) (100) Total For Customer Accounts Expense: 5,342 15,239 17,874 71,500 (15) 5,551 16,030 (791) (5) Administrative Expense 920.9201 SALARIES/OFFICE&COMMISSION 16,534 47,840 49,766 199,067 (4) 11,501 36,354 11,486 32 920.9205 TEMPORARY STAFFING 0 0 249 1,000 (100) 1,601 2,363 (2,363) (100) 920.9211 OFFICE SUPPLIES&EXPENSE 913 3,529 8,499 34,000 (58) 779 5,403 (1,874) (35) 920.9212 LT&WATER CONSUMPTION/OFFI 539 1,648 1,823 8,000 (10) 517 1,559 89 6 920.9213 BANK CHARGES 47 137 249 1,000 (45) 52 181 (44) (24) 920.9221 LEGAL FEES 504 1,331 1,749 7,000 (24) 987 2,658 (1,327) (50) 920.9231 AUDITING FEES 355 1,005 1,005 4,020 0 650 975 30 3 920.9241 INSURANCE 2,145 6,435 7,500 30,000 (14) 1,683 5,962 472 8 920.9260 UTILITY SHARE DEF COMP 898 5,331 4,749 19,000 12 1,553 4,543 788 17 920.9261 UTIL SH OF MEDICAL/DENTAL/DI 13,435 53,647 48,500 152,000 11 10,851 44,229 9,418 21 920.9262 UTILITY SHARE OF PERA 3,115 10,354 11,250 45,000 (8) 3,411 10,362 (8) 0 920.9263 UTILITY SHARE OF FICA 2,755 9,283 11,250 45,000 (17) 3,171 9,614 (330) (3) 920.9264 EMPLOYEE SICK PAY 2,090 8,935 9,249 37,000 (3) 3,024 7,150 1,784 25 920.9265 EMPLOYEE HOLIDAY PAY 0 6,458 7,132 25,850 (9) 0 6,087 371 6 920.9266 EMPLOYEE VACATION&PTO PA 2,863 11,713 9,000 36,000 30 2,283 8,238 3,475 42 920.9267 UPMIC DISTRIBUTION 2,301 2,301 3,000 12,000 (23) 2,477 2,477 (175) (7) 920.9268 MISCELLANEOUS-WELLHEAD P 0 0 249 1,000 (100) 0 0 0 0 920.9291 CONSULTING FEES 721 2,179 1,250 5,000 74 0 220 1,959 890 920.9301 TELEPHONE 446 1,343 1,325 5,300 1 484 1,309 33 3 920.9302 ADVERTISING 482 1,152 2,191 8,000 (47) 329 1,109 42 4 920.9303 DUES&SUBSCRIPTIONS-FEES 8,866 10,936 10,500 42,000 4 1,088 11,033 (97) (1) 920.9304 TRAVEL EXPENSE 0 0 0 0 0 694 746 (746) (100) 920.9305 SCHOOLS&MEETINGS 2,514 4,862 8,832 29,594 (45) 2,040 4,868 (6) 0 920.9321 MTCE OF GEN PLANT/OFF HEATIN 113 339 624 2,500 (46) 107 321 18 6 380 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MARCH 2019 2019 2019 2019 2019 YTD ANNUAL 2019 YTD 2018 2018 YTD 2018 v.2019 Water MARCH YTD BUDGET BUDGET Bud Var% MARCH YTD VARIANCE Actual Var% Total For Administrative Expense: 61,646 190,766 199,951 749,331 (5) 49,291 167,770 22,996 14 General Expense 920.9269 CIP REBATES-RESIDENTIAL 70 385 1,125 4,500 (66) 50 315 70 22 920.9270 CIP REBATES-COMMERCIAL 0 0 125 500 (100) 0 0 0 0 920.9271 CIP-ADMINISTRATION 0 0 253 1,014 (100) 0 0 0 0 920.9272 CIP-MARKETING 0 0 187 750 (100) 0 0 0 0 920.9273 CIP-LABOR 362 1,086 1,252 5,009 (13) 325 1,019 66 6 920.9281 ENVIRONMENTAL COMPLIANCE 237 307 150 600 105 52 139 167 119 920.9306 MISC GENERAL EXPENSE (1) 1,121 0 0 0 539 539 582 108 Total For General Expense: 668 2,899 3,093 12,373 (6) 966 2,013 886 44 Total Expenses(before Operating Transfers) 230,476 697,199 734,582 2,912,985 (5) 211,923 670,087 27,112 4 Operating Transfer Net Income Profit(Loss) (63,334) (155,036) (274,640) (144,494) 44 (45,358) (193,423) 38,387 20 381