The URL can be used to link to this page

5.1 ERMUSR 08-13-2019Elk River — - Municipal Utilities TO: ERMU Commission MEETING DATE: August 13, 2019 SUBJECT: Financial Report—June 2019 UTILITIES COMMISSION MEETING FROM: Theresa Slominski — Finance & Office Manager AGENDA ITEM NUMBER: 5.1 ACTION REQUESTED: Receive the June 2019 Financial Report DISCUSSION: Electric June's electric kWh sales are down from the prior year, 13%. For further breakdown: • Residential usage is down 21% • Small Commercial usage is down 19% • Large Commercial usage is down 9% Electric Operating Revenues for June of $3,013,016 are 16% less than the prior year and unfavorable to budget by 16%. June YTD is behind prior year by 1% and unfavorable to budget by 2%. The prior YTD variance is mainly due to Elk River Sales (driven by a decrease in rates and usage) which are partially offset by not having the Dispersed Generation Credit since transitioning to MMPA. Other Revenues of $218,530 are less than the prior year by 8% but favorable to budget by 19%. Other Revenue YTD is behind prior year by 21% but is favorable to budget by 7%. The main driver of the prior YTD variance is from Contributions from Customers (Otsego Street Light Asset Transfer). Overall, Total Revenues of $3,231,547 are less than the prior year by 15% and unfavorable to budget by 14%. YTD is also less than the prior year by 3% and unfavorable to budget by 2%. Purchased Power of $2,327,622 is less than the prior year by 19%, and favorable to budget by 10%. YTD is less than prior year by 6% and is favorable to budget by 1%. Administrative Expenses of $247,156 are 5% more than the prior year, but favorable to budget by 9%. YTD costs are more than the prior year by 12%, but are favorable to budget by 7%. The main drivers of the prior YTD variance are Medical/Dental, Salaries and Deferred Comp. Page 1 of 2 74 General Expenses of $28,295 are 63% more than the prior year, but are favorable to budget by 38%. YTD costs are more than the prior year by 61% but are favorable to budget by 40%. The main driver causing the prior YTD variance is CIP Rebates being fully funded from ERMU. For expenses, in total YTD are in line with the prior year, and are favorable to budget by 3%. For June 2019, the Electric Department has a Net Profit of $4,710 and YTD Net Profit of $687,894. This falls short of the budgeted monthly Net Profit of $169,277, and is less than the prior year monthly Net Profit of $101,492. YTD exceeds the budgeted YTD Net Profit of $475,311, but is less than the prior YTD Net Profit of $1,156,897. Water June gallons of water sold is down 34% from the prior year. For further breakdown: • Residential use is down 38% • Commercial use is down 30% Water Operating Revenues for June of $200,929 are behind prior year by 34% and unfavorable to budget by 28%. YTD is behind prior year by 9% and is also unfavorable to budget by 1%. Other Revenues of $94,372 are behind the prior year by 10% but are in line with prior YTD. Other Revenues YTD are favorable to budget by 43%. Overall, Total Revenues of $295,301 are behind the prior year by 28% and are behind prior YTD by 6%. YTD Total Revenues are favorable to budget by 9%. Total Expenses of $236,709 are more than the prior year by 8%, but YTD are favorable to budget by 4%. For June 2019, the Water Department has a Net Profit of $58,591 and YTD Net Loss of ($177,407). This is behind of the budgeted monthly Net Profit of $82,497, and is behind the prior year monthly Net Profit of $189,506. YTD is significantly ahead of the budgeted YTD Net Loss of ($337,506), but is behind the prior YTD Net Loss of ($42,951). ATTACHMENTS: • Balance Sheet 6.2019 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 6.2019 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 6.2019 • Graphs Prior Year and YTD 2019 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 6.2019 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 6.2019 Page 2 of 2 75 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING JUNE 2019 76 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 10,627,308 5,524,586 ACCOUNTS RECEIVABLE 2,118,863 377,847 INVENTORIES 1,065,016 9,200 PREPAID ITEMS 154,858 17,635 CONSTRUCTION IN PROGRESS 641,560 63,319 TOTAL CURRENT ASSETS 14,607,606 5,992,586 RESTRICTED ASSETS BOND RESERVE FUND 1,261,359 0 EMERGENCY RESERVE FUND 2,721,374 1,308,784 UNRESTRICTED RESERVE FUND 0 0 TOTAL RESTRICTED ASSETS 3,982,733 1,308,784 FIXED ASSETS PRODUCTION 645,285 13,539,819 LFG PROJECT 3,821,139 0 TRANSMISSION 2,301,867 0 DISTRIBUTION 39,973,715 23,042,971 GENERAL 10,497,042 1,031,318 FIXED ASSETS (COST) 57,239,047 37,614,108 LESS ACCUMULATED DEPRECIATION (28,634,241) (18,192,118) TOTAL FIXED ASSETS, NET 28,604,806 19,421,990 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY -IN 21,546,212 0 LOSS OF REVENUE INTANGIBLE 1,733,743 0 LESS ACCUMULATED AMORTIZATION (499,950) 0 TOTAL INTANGIBLE ASSETS, NET 22,780,004 0 OTHER ASSETS AND DEFERRED OUTFLOWS 548,120 104,024 TOTAL ASSETS 70,523,269 26,827,384 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 4,004,263 234,969 SALARIES AND BENEFITS PAYABLE 538,096 90,846 DUE TO CITY 748,406 1,935 DUE TO OTHER FUNDS 0 0 NOTES PAYABLE -CURRENT PORTION 100,458 0 BONDS PAYABLE -CURRENT PORTION 225,000 0 UNEARNED REVENUE 5,460 179,450 TOTAL CURRENT LIABILITIES 5,621,683 507,201 LONG TERM LIABILITIES LFG PROJECT 619,692 0 DUE TO COUNTY 0 0 BONDS PAYABLE, LESS CURRENT PORTION 21,030,147 874,040 PENSION LIABILITIES 2,430,359 454,388 TOTAL LONG TERM LIABILITIES 24,080,198 1,328,428 TOTAL LIABILITIES 29,701,881 1,835,629 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) 687,894 (177,408) TOTAL FUND EQUITY 40,139,694 24,864,303 TOTAL LIABILITIES & FUND EQUITY 70,523,269 26,827,384 76 o ^ O N 0 0 0 Ch N O N > CqO l� 00 V7 O l- 01 O1 N O Vl DD O o0 10 N M t� M O N O V1 V1 41 ,: N 7 O vl [� DD M V7 V1 V1 Vl a> M a0 �O d' 00 00 OC �D V1 O Q Z M O cn V1 V1 V1 - l� M O M V1 _ 00 I� �O M W) V1 l- M l- ti M 10 V1 O V M ,Y 00 7 M �-•� M O m Vl V1 N O^ N N M t- 1.0 O O O O w O o0 vl 00 M t- L� v- m O Vl l� �D M d• N t` O O 00 M M M O l� M 00 o, Vt In o0 0o m I'0 r- O t- N d'.N-i �•-� N l� M o0 M O 00r O l� ol --� O M V1 N m 00 00 N 00 00 � O1 N O 1 a\ Ic 00 �--� N Q\ 'C' 00 ON O 'ct o0 Oi N Oi %0 00 �` W O O O m �-' O 7 00 �D Vl O In Vl O N Vl Vl Vl I'0 V m� m O NIt-noO l� Vl Z; F N N "'� 'r v vl .-. V1 M Ofi l� �-•� M �--� l� O .-� �--� ^ �--� O 00 M 00 O M O O In 01 10 O1 � N 'o V 7 V1 DD O O o0 N N V1 .-. 0o r V1 oo O �O �O Vl 7 00 �--i M M 11,V1 �o M O �D 7 .-� c, r- 00 Vl V o0 0 01 N o0 Vq � M M 00 M N 00 �--� M M W V1 O 00V1 O [� M O l- N_ Vl M 00 N M 01 01 M '--� %D -I-[� 'DVl O V1 .-•+ O N N ,-. N ^•� ,��•, � � ^ a, � M Z N M M M N O Y--1 r-4 ^ d• Vl t� ^ N O O vl O O v] O In 7 01 M N O O O V1 O O M O O m 00 O of N V1 C1i a0 O 'D o1 O O O O W W � M a0 00 �--� t- O 01 00 01 0o O O 01 O N O O M O O �' 7 m M _O O 7 01 �--� ON M r- 7 O O •cF --� �O [� --� O Vl d' a0 O •cl• .--� o0 �D O O O O O Vl O �D � F v'1 �' M l� � a) InN cn W 01 �n 00 N O oo O V O V 00 01 N 00 00 M O1 O 01 M MO d Ct 7 M V1 D O1 �--I �--� V ry [� .•-i N N �n N �--i �--i M 01 7 l� N l� M M 00 'O +-•� M ct Vl Vl '•+ N M �!1 J H N M N M M .-• o t� a1 Nm o0 N N V) O\ 07 M N M %0--� Q N Iz r- N m 0 O l� 07 10 N 7 01 8 O O �O �D O O [� M O M M [� Q\ O N O r- �D VI II0 It --� 7 o0 O1 O O O M rr Orn N l� m 00 N 10 O N 00 N V1 00 vi 'o 00 VI V) 'D .--i r- d• 00 N V1 W 41 O1 V1 00 O O V) 00 01 Vl N 7 r- .--i C1 O N N M N //••--�� VI �'•^ � O N �•-� --� �o r-+ Vl O1 �D +--� +--i M � l� M �-+ N V) V1 .--i �O 7 ��-H-•�I � � � WA W d' 01 l� m O 01 �--i t- v� 00 o M O m V M O o1 O O 00 "0 01 01 N 'D 'D M M V1 .-� -zi. �' r- �--I "t V1 N N d' M l� �•-� �D N l� l� V O M 00 01 N �--� N � �o � O 01 o0 vl 00 �D 7 DD M ll: " Cl _� O 00 00 M N o0 ID I. 10 01 N 00 ,7 W W iWI �"1 l- N l� <1• N N lO 7 M M M 'D l- N O 10 r- N Vl V1 N oo V1 N 01 In 7 O l� W O M 00 00 O " 01 M r- V1 �o l- - 00 V1 N N d' V1 110 t-- 7 O V1 00 O oN N r•+ V1 N O M 01 - M - 'n M 10 W W �>]] W 00 O O Cl 110 r- O [- ('4 O o0 V O1 M "F oo r- 'Z V] V1 N �0 t� O M O O1 O N oC O1 M Vl - V1 N M t- N r- M Vl O lD M V] 01 lD O1 0o M Q1 01 o0 r M V1 .--� N 00 n 01 V1 N N 00 h N V1 Ol M 00 (- O O M t- M N t- t- 00 �j l� O1 --� �-•+ �-+ _m 01 M vi 00 M V1 N d• N 0� N N N N M M N M W Q V] L W y Y L v F U U f m o w i v, dJ 40 0 U bn > "GOq L. a d a > ak ID k N N o E a m i W x s 00 0 W o a� [ C � O C F 3 W X W >1 � o a 48cc: �a .9 0 > h^•q Na>i o C Q y O J 0 ID q e� W R. d) m W e C O p Ga ❑ W F sem. a v 44� .�`�. cw o - a� dS o a� ,� �❑ pm °� ,� o a� y y p •c W Oa4Laa OqC °i�.atj FCL 0 i "g00007 �O� U 0 d a D o C L d :� o w c W) In N O O g M 00 M M N 00 C N U 'c1• O� 'm-+ �--� 00 N 7 N 00 O C- N M M O N N 00 N M O � V N ,a, .ri N m O 00 N O� ,-. v V N O �^ 00 00 00 M �i 00 00 N O� O 00 MN_ N w N 1* 00 \D 10 00 d' In 00 00 N N Cl) N O N N N o0 l- N r -vi N �D M m O 00 �O 7 0 7 �•-� O1 00c1N 7 0 M M M [- oo M t� .r n rq OO Q N N c,)N N N l0 In CDN M M M N rt O [� [� d• 00 O oo 'r M N �c r N b N O N [- ON O O M Nr- N o0 N O o0 l- 00 O �D O N �O N 7 N d' N 00 M M N O 01 N 00 N O M V) r- 01 Q1 O O o0 O y M M N r+ H In O Q In oo In V O� rq z O p O1 Ol O O O N NO do M C� 31 O O rM N � 00 00 � O O N O 01 O �O M O O M [� 00 � � � � (� O O x O O v� C" �F � � --i N � N un M M � �• W O O O o0 't v1 o0 oo �--� O N N N l- 01 N N �`" O N N N ~ N N vNl N N �j' M r "" C N N H U � O Q O_ _O M O a, as "`444 N M r- 00 <h N D N 00 r- O f-. N N O o0 N 00 O N vi N N �O `o N l- `D 01 U CW!] Q Q 000 oo0 ~ ,� . N N N ,n •-� rn m In m O1 N v1 M N M M N r- ,' �--vi �' O �D �D �D M p a Q -I Ol C �--� Q\ N o0 00 ti N O Ch Qn d, �O 0000 �' 00 �9 M O N is N N O N N +-t M cl• N r M N Q\ E... DD o0 N .-i cn N N ,--i N rn m N N N l'- of O\ wl O N O �--i �--� 00 a\ V) M N O Qi � 01 O1 N t'-00 7 M M v1 �--'. M � iD a0 O O It' o0 O 7 N �C .q \O N N w r+ o0 O O �O N C\ C� N O1 V M N N N N N N cg W Q W h fR L bA G a+ L O G a O y e i a� O vi L. C C C N a+ o'd Op 7 W ti d Q all W ani o •� W w C en > p m G W o .o a d k ea rr > o Q> c o W a W o d RO L �, L) C-')' �aaQa) c)u c� aha y L C] GJ L d N Elk River Municipal Utilities Monthly Electrical Demand 75.0 70.0 65.0 60.0 2 55.0 c D 50.0 E i��.•� i 0 45.0 - - 40.0 35.0 - 30.0 34,000 C N 24,000 m N M t V L as 19,000 T rn N C w 14,000 I � I J -- i k � r � K� Month --4b-2018 X2019 Elk River Municipal Utilities Monthly Energy Purchases � t • o�ec pec ,oe� 0 S�Q�e� CO Month --*---2018 -o--2019 40,000 35,000 x 30,000 c a 25,000 U 20,000 W 15,000 10,000 Elk River Municipal Utilities Monthly Total Electric Load Month 5 -• --2018 -a 2019 Elk River Municipal Utilities Monthly Electric Sales $4,500,000 - - - $4,000,000 $3,500,000 P�- i L ' m $3,000,000 — 0 13 $2,500,000 m in $2,000,000 - $1,500,000 $1,000,000 c1 C� cr t� a� oe �A �� e� Qe P eQ� O oAG �a Month 5 xi 2018 2019 :N Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 25,000 _ 20,000 --�+ 15,000 �- — - - - - - -- - 10,000 • +Www 5,000 611 JhetG,�oe�&c1 c�a�� e¢�e� Month -t-2018 Residential -m-2019 Residential --A--2018 Commercial --X--2019 Commercial --X--2018 Industrial -4-2019 Industrial Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $2,500,000 $2,000,000 m $1,500,000 % o m $1,000,000 m U) $500,000 $0 Month -6-2018 Residential --c-2019 Residential --A--2018 Commercial --F-2019 Commercial --X--2018 Industrial -6-2019 Industrial 140 120 Elk River Municipal Utilities Monthly Water Pumpage 80 d m 60 E a' 40 6 s 20 f 0 a,A ac�J�JSw �c ec g � O Month --*--2018 -r 2019 Elk River Municipal Utilities Peak Day Pumpage `�k ^rr r� rry# or Q�`oa� Il Month --,:,.--2018 _ 2019 m 140.0 120.0 100.0 c 80.0 60.0 c .y 40.0 20.0 0.0 ' Elk River Municipal Utilities Monthly Water Sales �6e0 Jai 40 c F $450,000 $400,000 $350,000 $300,000 m c $250,000 C N $200,000 N $150,000 $100,000 $50,000 $0 P o,JS�, pec o�ec pec pec P� CP� 5�Q �o Oe Month -- 2018 2019 Elk River Municipal Utilities Monthly Water Sales Month -- --2018 --m-2019 f , r , - ti x: �6e0 Jai 40 c F $450,000 $400,000 $350,000 $300,000 m c $250,000 C N $200,000 N $150,000 $100,000 $50,000 $0 P o,JS�, pec o�ec pec pec P� CP� 5�Q �o Oe Month -- 2018 2019 Elk River Municipal Utilities Monthly Water Sales Month -- --2018 --m-2019 N N � C, O N O M M O O C= O O O O= O O O� O cd O^ O O v1 O O <4 CT N �c I N O O x h > ca 00 00 v -- M M o 00 O M M M M O I� o0 01 t` N M N M O O U 00 W U llO %C M M cqO V vl Vl 00 00 t= 00 00 o0 r- o0 G w g O a, O W U N N o m o O1 N "n Z � 0 0 000 vl 00 00 Vl Q O M N O N ll 0 t -W o 00 O N IM `. a , I00 �ril o0 I M .N.. .N. C l V R V N m d L o W C, M V1 00 Q 00 N N N O 00 t-- O O 00 w N W) o0 0� n N t` o0 t— O m to .N- �D 't �n 7 00 CD O� t N O t- O M C� N -+ N 0 H H b O z W F.y' Fy Cn CT V1 V1 w)00 M oc V1 m M V] m M M O r— N rO r— o0 w 00 CF O W O "!2 O M 't n 01 M t� dt oo N ti ON 00 .2 N N M W rrh�e m Q� �n N oo oo oo = vc cO C Vl I n CW/] Cr Q O � O O O N 7 N z W W NO > a c a � oo C1 Moo Vl o0 �c W Q O � N MIn O � O ~O 7 t- t- v) W oo v 0 �t oo ON N CN �c O �c d' O cl N o0 oa t- ll� E-4 't oo Ct N t— t> M oo Ol f-� O N N W Q VI Q j W yD �cr ¢ a Q � o W RS W (� W DO z z Q L W Q o C4 z� w o 0 0 y x z Q o rn z z F F W W W C 0 0 UD Ln co V) H H F, F, U U U U U U w w w w w w C a� o ^> W oD W O d � y G w a o N N � N O N O M M O O C= O O O O= O O O� N O^ O O v1 O O <4 CT N N 00 00 �c I N O O x h I 00 00 v -- M M o O M M O M M M M O I� o0 01 t` N M N M O O O O 00 W U llO %C M M cl' V vl Vl 00 00 t= 00 00 o0 r- o0 G w g O a, O O O N N O M M O M M M M O1 N "n F- N � Q� 0 000 vl 00 00 Vl M O M O M OIO O 'llrh O �, �, N iN oc U a o to ao O N IM y W I00 �ril o0 I V � O [� o0 V1 00 M � M � �O OI- - N o0 0�0 OHO 7 N t— V% N t- oO N O 00 t� 00 ~ 00 ai k z a bD LaL Q a a z a � w CIO L O H cn H F� w w x a bll � o � Q C� N I M %M 00 In t— D d' 00 —O V I't O H O O H O O H O N N O O r r- 0 0 G1 01 DD 00 N N M M O O M M O O 00 o0 N N O O M 00 O O 00 00 O O N N N 00 00 O O O O O O O O O O O O oho O[O M to N N O W) r-- M N O aC O M U W x u -- o C� Q d d U w Z u 0 z d V] W .0z o G w CW7 L N C m a a F bAa', a00 P4 H F U 004 ~yL m U a o to ao C V4 C a� w fYi U a0 y W �ril C l V R V N m d L o W O F 01 c O O N N N O1 Q1 O [� p O 01 00 4' v (3 M v O M M O 'n O 0\ V1 N N .�..� N ' u 0 O 00 O 00 O N N 10 �o 'n cn O O O O p N O, Vim' '0 N 0\ N M M N O� o 01 O cs M as a W) N U M m O O vn 'n OQ ~ O O � V1 1D Om M N V7 00 V) 00 �--' Mm n r N N O O O O O O 7 V' 00 00 00 00 O V1 O O ut Vl r r- O O O N 01 N m �c M �o Cl) 00 m M ON 00 w O '--� M M M M 7 7 O O O C r- 'tO M O I- o0 00 V) �--I M M 7't •--� [1 ,-- i I'D �o N 'n 01 �o 11O 00Vl Q 00 00 \0 Vl I'D h 'n Vl N N M V) V1 M V1 M V1 00 O l� O r - Vl -- '--� O N 00 N N l� l� 01 U O 00 O 00 V1 l� Vl I� O Vl O O a1 01 N 'l- O O O �c O W) 00 00 01 O O �O O �O 'n d\ N Vn M --� M ct 00 oc 00 00 00 .--� Vl M 00 O 0\ N N 00 Vl V) DO �o N O M M N O l- m r -N_ mN Vl W 'n00 +-+ N O N 00 0c z N m N N O H O Q\ rq C14H p p 7 O O In 00 cq 00 O O00 00 M l' [� N v N v i1 r > O rq O O O O OO O O M 01 M m O O O O O O O O O O O O V] O O O O O v1 Cl) 7 M 7 W M N V1 O O O O O O O O I- O O O O 'n 'n 00 00 O V �D �O M 00 OC 'n N 'n N v1 vl V7 'n O N Vl N l- 'n M o0 01 00 O � 0� 7 N N O �--� .-- N M O In " W Q O O O C O O �c Q1 �o G7 O O '1 O O O O O O O O 01 01 O O l� l-- 'n O 00 M 00 M 'n Vl m m 01 n �t m O O N 00 �o 00 O N O N O O O V1 7 N V1 t O V1 M 00 M oe Cl) kr 01 00 01 00 d' lz `D l - lz W N kf) r- 00 00 O N �-+ M [,- � � kn N_ N_ 'n �-+ r+ U.) En 00 wz W 1�y/ O W 'n �c 01 a1 01 a, O G1 O G1 O N O N O O V) m I'D 00 00 O Cl O 01 41 'D 7 7 l� d' Qi a0 M 00 w N V cl 0\ r- Grl W a1 Q 00 o0 M O M O M M O M 0+ M 0\ �--i 00 Vl V1 'C' ml� '� �0 �--� [_� l� l- N W)•--� 00 �--i � kn W) r. N O M 01 0\ ; W O N N �c 1.0 M M O O V] t 10 N �D O O O N 01 01 o 01 O M O M l- �r N N N N l� '•-� --� O O N N o0 00 DD m m O m G1 V1 V1 V1 M V1 N 00 01 01 V m N n m 00 aC .-i [- l� 00 .-+ — — N N N M M O N M N N W H O Z U F=+ U p m c a o ani o a w H U o x a w ul Q x d x w S d H p C U- m O 0 41 wu o OU o W C4 Z U P4 Z> o` W tl- 5 Q F" W W o z48 O a O o i fi+ U U c z- - O w O a H O Z w w c ¢ F z �l P-4 U 43 W H y � U U � U� Z cG L:i � W p� a� E a OU y c i s a� O A d Z ti F-4C�7 a y aCi a � a~i o v o 9 -4 u d u p, k W W V tp N O O O O 7 M O � M 00 N O 00 O O O M N o0 V1 d\ M r 0 O^ o oNo obi o � to - 00 � O 00 O N v M N O N 00 M Zn N v ONi M 00 00 NM 41 .m -i C a1 N M M V1 M O 7 Cl all O M rn O N N 00 00 N M �O d' V N co Q N rh O V1 ti N M [� .-• N 00 ti O v O t O O 0o O N 0 a� 00 M O N ti r N M .-r Q N O ,D N -+ N ^ 00 O N H G� O a1 .� N M _u�UU O1 v v N W O V) O1 r M M O O O O O r a NO W N r W M Vi O m O 00 O Q N N oo N �D O N M rn 00 00 o0 O r an CD O a, a, o o 0 vi o o a r E.y o0 V'1 O r O O Q o0 N W) 00 O Ute' ON p CD 00 Co DD 0 0 � d, 4, � DD 00 M V) O r N N 00 00 o0 Q M M 00 ti O CN O � ~ V tp N O O O O 7 M O � M 00 N O 00 O O O M N o0 V1 d\ M r O, O^ o oNo obi o � to - N 00 O N v M N O N 00 M Zn N v ONi M 00 00 NM 41 .m -i C a1 N M M V1 M O 7 Cl all O [- ct N �' V [� N r Vl r M [� .-• 00 ti O V r cY M 10 0o O 00 CD r N M N M 0 Vi 01 H G� O N M _u�UU O1 v v W 7 O V) O1 r M M ff a O O r a O W N r ON V1 O 01 m C, 00 'M M N oo N �D O N M rn 00 00 o0 O r an rn r Z Q W r M O, N l� %D N o0 N V1 'r [� CD 00 Co iN M ONO N a\O C� O V 01, O M N N V1 0 00 O M "D M M 00 ON �o N 4. V1 V1 O1 Ln 7 �r M O M 01 OV1 00 M .--� 00 ID O 00 N M_ N M M M N lD M N r- 41 �o Ic O .-� 1.D M lO O M --+ 00 N N r M N N O N Vl M O I 'n C Iv Vl O 10 O O O N r O O O 7 M O o0 M O r N O 00 O O �V1 M N o0 V1 d\ Y r O, o oNo obi o � to - N a1 00 O N '0 d" d" O m Oi 00 r• r N M 00 00 NM 41 .m -i C a1 N M r V1 Vl Vl w MO c M YM M V) ti r � O 00 r d\ Y o0 O, o0 .--� -+ O V1 O O N C7 O O a H G� O _u�UU o ff a a a a a C7 u L n- Z Q W z C �r c F-' W) O O ',C O Vl O `1' Vl N •--� V1 N N N Vl N I M M N N Q\ M M a a,C� o o1� a1 r r v a a o r v S, o wl N 7 7 M N N 7 N r 10 10` ti O O O O O O O O V1 VI O O O O O O r V1 V1 Vi .+ Vi ao O N M ,Nr M O 0 0 0 o c, O a a1 00 7 co N .D 31 O --� v1 �D 7 Vl l0 .r -i V1 r 01 C' O V1 r N o0 V1 V) M V1 J' lD M 110 O O 1fl O M O d\ V1 Z- In O N N Vi 00 r In 00 r r 00 M �D %.D�--� r 00 N r M d\ ti vt In W 60 48 W CW1, O m � c o > z z (j cn O rn p po W H CC pZZ W CZZ w w o w W cn o OS d O R• In A U c un W W O Wlh 0 O ^ In N ^ ^ N O M N O 00 O O \c 00 �c O N O M N m M �' 00 �D 00 N V1 00 A � D U Nd '^ co a\ 00 M ^ ^ ^ a1 t` [� [� O O o0 ^ �--� O 01 V1 In O SD O O O M V 00 N M al 00 V1 M .--i 00 V1 l� O 00 0� I- 00 N I- O M U � P N O N 7 C1 00 V7 V1 7 O CD M V1 -o O\ m 10 O In 00 In I- A v zt, N M M 00 n O ...r N O In "t N 00 w O 7 1�0 w 'd' �c O O O I> O N N 1�0 O O IC O 1�0 ;- M rt o0 N N O N �D l� O O I� O O �o [� r- �o V1 C M N h M N rh x lD N N W DD 01 �O DD M M 7 n O d\ N oo O 00 l� �D In �o \D Ma1 �o G1 M V1 00 dl 41 O --� O lD Vl 00 110 QM N ao •--� '� N In O O \O N 7 N o Fq >" O N I> O Cl) O O d' O1 00 �o r- Q+ \D O �o N ^ a1 dl O O O O 01 V 7 l- Ir r l� 7 'o N In _ V �c a, r- m r- M M to �o 00 M M 'ch N N00 Vl M 01 C, O1 I� M N m N N z N 0 oo ^ oo o 0 0 0 0 0 ^ o -, o o -It 13, Inrq N m rq 7 N 7 v O In O l� O � O O O Cl O O N O O O O O N In O InI� N d, 00 O O O O O O o0 O O O O O O O O 01 O O O O O1 M M 7 [� d' O O O O V O O O O O M t` O O O O O vl VlG1 M ao O O O O oc O O O O M Do M In 00 O 1n 00 In .--i In O V1 \o O O .--� V] O1 .-+ '� V In �' +-+ V1 In N 01 C1 00 M O .--� M M V1 m 00 00 �o N H O Q Q Q i7 0 0 o a, o o ID o ll o o In o o- In 0 0 0 0 0 'a, o v Or O O a, O C, O o O M M GD 00 In In N N O O O N O vl ON n V1 C` O ,--� 00 o0 V1 N \o �n �n M �o C T W vl O 7 O �--� ch In O iD In 7 'D N r O 00 �o 00 00 .--� In N N l- M Vi vi l- ON U U` N Nr- N io N— O� cq 7 7 M N M co O, O ON M �n �--� .--� N l- i:- N �D \0 00 '� CA ^ O o0 M O N CN O, Cl �D 7 N 7 �o •--� 11 W In N �n l- M O� l� N � N m In a w a b N Nm M 00 O M to n CY l� O DD M M n r Q\ I �--' M O 00 7 N N t I 01 M 00 V1 D\ N7 �n _ �n N 10 O� N m h W A N N M V O rq M 7 M �/ N M cF M Lti ;T-, ON ~ W O Q\ Vl N M M N M 00 '--i O O '--i ul r- M M �oO O O O I` 'l-00 N CF N N M �o O N O Q, M - n In a1 O 00 M 1�0 M a� O r- �o „'� O M �--i O ON `0 00 c O r- M 00 In cl) In In cq N W E"� O N r7 -i m O Uj O y rA O i""' k P: O CwA k O oU cle) 01)C7 A a O x A A w � c O A H W w A w bo w 4 w e a w O w y w c3 VO 4�, d �' z w w z a C7 Q O w i � q W Q w 0 c� z c F, z w c w d F w a Z O 'R z p W O o � O � O C7 p" G4 ~~ z w w z z w w A w a w w z 0 A O O 'r w o a d z w W4 Z U E" o d? A H o o C F" v Z Z [� rn d A A O Y A C7 H L O O o z a P4 p a� d P-1 w w w w W U O 04 w o d d d F., C7 A O d w 0, s. w w o 0 0 0 o o a oU a CIO cn 04 w w �x o x o w xx w En U ��a W��UzH aow HHo xUCA zHzc wHaU o H H H H o d a F o dw z w> o H w E.,w o w w a A d o N� d �w .; o a �a o L) a o x � Oa U 0 Gl O a+ V V 44 A 00 O O M 10 N W _ O M 4 O o0 'l- � 1OM N O ^ 00 M ov v � O h qO ^ O 01 P 00 P P 01 O N O 00 N O C O O O O O O O C O O O qt Wn ^ S, a O Vn N dt O �0 01 O O 7 O O _M O O O O O a0 O O O C O O O O O v 1D O .� N r- O ll M 1�-- N O h O 10 'd• 01 v1 M O 10 r O N r 01 V� 10 00 00 O ^ W O W Q\ M_ M O �0 O M l� v1 DD d' C� [� 00 a\ W vl N N M '� v1 M ,--� r. 00 00 a0 N N vl v' 7 N o0 N C a0 N o0 \0 \C �n N al M v) [ M d1 ON M C+ C1 M O N 01 in 0000 �0 7 M M �p 10 01 O C, N M .�..i N l� 10 O v) O 7 O kn d• 7 00 v1 N In Q1 't C\ O vl O O �--� v] d• O 00 O O O\ 1.0 O O 00 M V1 .--� C1 O Nr- 00 C1 10 N 1O C1 .-i N00 N O 01 r M 01 00 N_ M '0 C\ 00 M �O O 01 vl t` [� M r- 'o 00 00 n V� \O 00 ` 7 M N O Vl O M M l p Q� I- N M 7 M �--� [- [-- C1 kn N N �t l� M 01 00 O M a\ V1 �--� N 00 M %0 O Q1 �--i w) ,r O N �--� �--� 7 t• M � �--� N M ,-. .--� r. d• v] O O M w O O C` M � t` O kn O N O V1 M N O O O � O M 01 M O O 7 10 l� a, O N N O M O '--� O [� a1 r 10 N M r �--� V �] M In l- M N v1 DD — v'� .--� .--i �• .--i .--i .--i _ O M 4 O o0 'l- � 1OM N O ^ 00 M ov v � O h qO ^ O 01 P 00 P P 01 O N O 00 N O C O O O O O O O C O O O O O O DD O O O 10 O 10 O O �n O 7 O O _M O O O O O a0 O O O C O O O O O O 1D O O N O O O ll v] v] O N \0 N O M O O 10 'd• 01 v1 M O 10 00 O h v'1 �n V� 00 in Ci O '-+ W O vi �D d• 1D �0 �O M l� O V1 M M 10 01 O C, O 10 01 O C1 O vl a, M O Cl O V O �n 7 O O O O O n 01 llz� Q1 't 0o +--� C1 7 O n O O o0 V1 P O aC1 :l [� O O Q1 V l N 0\M O --� On oo .--� n t - v1 00 C1 O 1O N l- l- vl N 01 Cl M '0 M 00 M �O M 00 In r- 'o Q1 M M 00 10 n co 10 O O1 7 O <t 10 N O DD O V lD v1 00 't N C1 O Wn w V- <= N r- 't O d• -It' 10 (0� 00 O M = M 7 N l- N O 1D I^ O Q\ N n d, 13 n O 7 C O N N n 01 O O l 7 o0 N N O O 7 a1 O O o0 1D --� ct vl O 1D O o0 M b N M l� W) O ct C1 O 1Cvl N O 1p l� Id, ,--i N 1.0 N -n h N V O 10 N o0 V1 --I kn N O w Ca ¢ F z o a z y a w w d O C7 a O Q U a Z z Vol z w W 0 w a w a 44 o a w w w x w x w w 2 �! O W 3 a F• c� E- H O O O U� x W O O y W> O U o O a� m M M -i C\ [- O 00 .z V] [- �n N l �n O\ vl M (7 1O N 00 Vn O O CN O In 00 G1 M w 00 00 �O N M D ' N N U00 00r 00 00 vi o h _ oa 00 00 r7 O V1 _O 00 Vt V) 00 O 00 O M N l� cr, O O 00 M M V7 Vl 00 07 Q M N O O NO N N 01 O O, O V1 In W) N N rq N ON M M O M d• 00 j.7a N I-- N N M O z O N un M O H (� r. cz O 1 Cq O O 7 00 O O O O CD O 00 V1 N C N V) Vl r' N N M Vl Q O Q --i O 00 w M M N N N Cq � � DD vl 00 01 O O O O O M Q a a 00 n G1 O oa cn 7 m en d' 00 oc m 00 (4 00 W q` o r- <r v o 0 0n 00 F. r, rn V) W) x w O V'1 V1 O1 N 00 M Q\ M C1 Vl Ey N 00 CNo N M W H U w Q w G w W � Q C ❑ w Y L s O z O o eo c w o c O 'z H w 0 �• �� O Z d �H o• w ro o U y w a o z N .8 H H •� � H O � W O u O r -i en N O I— wlM N O d' 00 N tn d1 O N 0� c `O O O d\ a1 al O O O N V1 M O O a1 O C^ C) N >rqv O 00 00 O O O 01 01 O o1 N 0 .�-i N N M N oN M �U�jj Q V1 M v1 OHO M N 00 M vn 00 M M . i v N N (� M M v d r1 00 00 O O 00 00 00 00 00 00 V) O V) D\ 01 In O O O M O N O V) M �o O O 01 O Vn N M d- d' r- d' 00 M M MM M O O o0 00 )n nlO N O d' 00 l� d' N n O eF N Qt10E a, ON C31, C,N N l-- Vl O O l-- V) l� v) [- V) O <t V m o) M �o N O 00 �) O O V1 O O N M (D w of X- I'D O �O �O llO r- � v) 0\ N 00 00 M O M M O M M O M M C M O 00 00 0\ z O N 0 H � Cl m 00 N �c CO O N O O O W) l� O M G, H O zz Uj OV1 d'2 M � a0 w 01 a0 01 a0 O O O Ln O W) O O O O O O O O O O O O O O N O O O O O O O O O O In N d N 2 -� M M O O O O O O O O 00 00 O O o0 O 00 O O O O O 7 O d- M N O O O O r- V1 �n O oc N N N N N N N N N N N a¢ N N ^" N N N �E-4U� dW a0�00 Q� C7 OO t N ^+ _O O �"' O O d N v) N M m M M O O O O a\ 0, O O O O O O O O OM m .--� V1 O 17n 00 M l- C V) N N N N N N O O d' O o\ 00 01 00 O O O O 17n N M do M O N l- a0 In OI'D M 7 �O 00 �0 00 I'D 00 --i Q W W CIO r- [� Vl N �D 0� d' O F 0 C1 N O N 7 7 C N N N M 'n M n cl 01 C -• --� 1:1n Q n N 00 V (Yi W Q O [- M W) In In V) v) v) N N 1�0 �oh DD ,�-i kn o0 O M o N O NO >J 00 00 00 N IWC W O M O V1 V1 M a, N N N N N [- r- o0 N_ [- M 00 O M l- O O V1 O O O O O 00 O v1 CT N 00 V) T O d E.y O N cF M O N O O N O O N 'cl' 7 ti h N 00 a\ O N W ti >c z= O Oa' > a d rr c as o w k. z � 7 U O .o v > WW p� O � z W U a Qo Z'a d d o r x c R Q' U z> w d W c7 w R Q H o w c� � o z o O cc R O U d U d o O 04P4 u).a i CIO R' :� a H z O W O w0 P. o W d C� [fey F °' H Z a W q O coo � 04 p L c a z P4 x Q Q m o c H O o F ti U U uo a WW �. > G�0 c4 H Cd7 o O 73 w dID �.ry � F •L v� G y �-i O O cc V 3 C u O r -i en N O I— wlM N O d' 00 N tn d1 O N o O 7 7 M 7 O� O vi 0 p O O O N v O N . u 00 N d W ^ N N [� N O n h V1 I d M h h oo h N O h o0 00 00 �0 h N 00 00 00 M o0 7 oo cn 7 M N h O Ol A G M O O N M r 00 N v v N M v N v d [— O 00 h N 01 o0 N O 01 h oa N 01 N C1 h "D N O h M h 'D 1�0 O M �o N Vl_ o0 t W N N V1 7 V) M O oo M iD N Cl a n Cl rn cl h O m O\131 00 Cl 0� [ A h h o0 0� M N M N [- N 00 O ni .-� � h V h M N N �0 DD --� 01 V1 �"'� �--� N N 01 N O 8 � O t- O N "" (� M N N �O �O O N oo h d' 01 Vt 01 N N 01 o0 01 O 00 O �r 00 N M O 'o�--� '-+ 01 b "t 00 g O N 0, O h M h �--� I— a, O t00 O M M 01 131i V1 N 00 �g V1 O 00 O N N cP N M 00 O N N �--� �--� V1 N O O M O � z N O H H CA o M M 00 O O O .- h V1 O O O O 00 N O 01 O O O 7 �c O O O O O O O O O O O <t io O O O O O O O O O O O O O O O O O m %�D O O O O M 1D W ra f--i 00 moi' 00 un -- --� 7 M O O O o0 O [� O O O N <i' O O Vl O O O O O O 'D O O �--� N N t-- N �O V) vl �O N �--� N O <t M N O N N N N ut N a Cq Q� ON kn ON 1p O Vl Cl �n N M N V O O O O O O O O O 'zl' [, O O O V1 O O O 01 O1 ON C1i O O O O ON ON M O M O O N oo 7 00 h �n [ti O N l� Vi [� Vi r- O O Vl O O o \0 N Vi O Vi r- h O et a h V1 M O 'D "t m 00 m O1 oo O V) O Vl M 'o m 'O N h W a A W O Vl N N N M O o CD N V N d h V1 h V) r W 7, rq W ^ h M M l— N l— N 00 N h �n V] �n tn d' O ' t V1 N m -tt l� ll� l� V) �O O V1 O 01 7 �D o0 N t— N i:- � N N O O M M N V) V) h O N �t O M N M N o0 M �D l' V �D N �O l- o0 h 00�_ V1 M Cl) M M �0 N �0 O\ 01 N `O 7 V1 �t ct O 10 �O NW) M � M 7 00 h 00 h ^ a O N N V1 Vl > W W 01 �O O , h N O O O o0 O 7 V1 N 7 h h O [� M O M N Vl N V1 �O M M M O 0� �--� N �D �--� O m N �O 0\ O 00 h h N in N Gl �O h M 01 O V1 N 00 M 7 V1 [� � N a, N Vt 7 a' N M If) N In 00 M ~ N N G\ G N W H h 43 C y tu O O a d a w W H p a A c7'" L xulo [ •� z L CW a a4 f H w w H W H P, A z Pq w � w o� o off CD CD c��P�oP4ooaDjP.� o N[��Q w F U w U a U U A U U F U U Ew z w F o LL' o W a A O a w � o o � x 0 C U sem„ N Vl 7:1O gyp!., as � y a W m ON o O O 00 .--i n ^ �D 00 ^ 7 N O a0 N ^ l� O\ O [- V1 to 'vt N N oo M r O 0\ rM �_ �O O N O V O n Om r1 �^ 00 O O O t` NM M_ 0\ 7 oc N O O 01 V N oc N n N n w1 w) �--� � 10 M M oO v) 01 �O �--� t` ON 01 O �C N w V N N N N 7 O C� O O M oo lgl M 'cl' a1 O �--� M N tl 0\ O w N v) O d M oo N M M r- M 00 [� �/'1 N v1 oo A N N M l� �--� l� N --� O 0\ O O �1�0 N t- oc rn O �o w) 7 a' to tl- O oo wn m O �o v) O O oo O oo N M M In N oo oo �O �t N N O l- v) M oo r- C 7 7 O Vl .-+ vn �O oo M w1 V'1 N ti O M M .--i V) M N .-r O H H r rn O O M O �O d' 00 .^-� N O \O O ^ N oo n v1 O DD O A p a0 �t N O � Uj Cl O O O O O O O O r O O O O O O O O O O O O O O O O O OO O M O O O O O O O O O �O O O O O O N O O O O O O w) O O O O O O (D In oIf) w v) o n o n o 0 0 0 0 0 o O o 0= C C of C C o O ch O O F� Q N In O1 (D 01 N w) wi t- vi �O N .r vi v) w N Mm ti 7 m N M a ¢ N x N O U W d W O O O O O1 O ON a1 M a\ O1 01 O, Q1 O O m O O O a 0% O O m O O M O In N In a\ In O1 It M 01 01 Q\ Q\--i O O+ O O O a W O O O1 O V) r, O p, oO N N r- N O1 N <h r � � 01 O IZt 7 O O �t O �) w) * *' O Ow) 1,0 N O 01 A O In M � � Ch M N )n 0) c_ N N o0 01 o 16 N N - N N rr O O l� I'OO_ �o O �O �-+ O -+ M kn IO oo C --� �--� �D N l� �O �O o0 0, O d' cq r- N oa N oo o0 M N �--� [- oc v) O1 V �n N �n O l� �O O O I-O [ h N o0 \D C N M N O10 oc M N N d; C N (4 M w 01 M N N V CON a > W NO W O N o0 O O �c �t M N O v1 M O 7 M N O �n O )n O O In O m �--� ti O O � N N oC O1 'O M 01 O Vl V1 w) l� Ql 7 tom 'O �' oo I- Ln t• O\ '-+ 7 M N M M O O1 N O N --� 00 N '' It Ic N V) V) ,--� r+ .N-1^ M M .--� N N T, O ,ET] N W �-I z A m W O u U a) v� O ]- O � o z w o k o x oo 'z H W p W W A Z oc W w [. W W z Q w W J W C7 E" O q U a z z w w w w Q o 0 w0 o "" Q Q E" rA W a x✓ w w i7 O o a p N H va x a w w w w w w¢ x w w w H z w w H F Z w H a L WW zn 0 o rn W C7 U C6 O vn rn w a u,¢ w >. z �+ A a a H W a W N y w w F w r O U 3 v' O O o U w w w � as w �' z A a a a a a a a z w W W w H w +d W CO.4 m .7 CA EW- a+ r, U 0 i a 8 0 a N im O O O O 00 O 00 d' 7 N J � 00 � U N O �D M M 00 Cl O O 01 r O� 7 O 00 Q\ O In O N O �0 ,o 01 N d* o0 l- N M O O O 0) O M h 01 M 7 M �O l- -zl �c N V) M M 00 a r- .r N N O O O 00 O N 00 n 4 O N N O F O r-. P. F '- F 0 z H N Cq O It O O O O O V1 O O O Cf) l� in oa rq N N Q� •--� vl N r N W W O Q1 0\ Q1 't N O O v1 N O vl n O O O O I�c o0 1�0 r - 01 V1 cn N — M N N N V1 m V1 N10 M [� Q Q M WWW o��D W w DO O l- 00 O O O Q+ Q1 � � � D\ � � Q Cq O ON J m m W ? M o7 O O h O �D o0 01oo Fi O N (V W ti CIOrn O F a a a a a c d c4 E C/5 U U U U U W k W O, x � W c w IL) y h U 0 i a 8 0 a N im