5.1 ERMUSR 07-13-2021______________________________________________________________________________
Page 1 of 2
UTILITIES COMMISSION MEETING
TO:
ERMU Commission
FROM:
Melissa Karpinski – Finance Manager
MEETING DATE:
July 13, 2021
AGENDA ITEM NUMBER:
5.1
SUBJECT:
Financial Report – May 2021
ACTION REQUESTED:
Receive the May 2021 Financial Report
DISCUSSION:
Please note that these are the preliminary unaudited financial statements.
Electric
May’s electric kWh sales are up from the prior year, 8%. For further breakdown:
• Residential usage is down 1%
• Small Commercial usage is up 12%
• Large Commercial usage is up 12%
Electric Operating Revenues for May of $2,664,896 are more than prior year by 8% and
favorable to budget by 4%. May YTD is ahead of prior year by 4% and favorable to budget by
1%. The prior YTD variance is mainly due to Elk River Sales.
Other Revenues of $202,079 are more than prior year by 26% and favorable to budget by 23%.
Other Revenues YTD are in line with prior year and favorable to budget by 12%.
Overall, Total Revenues of $2,866,975 are more than prior year by 9% and favorable to budget
by 5%. YTD is more than the prior year by 4% and is favorable to budget by 1%.
Purchased Power of $2,028,382 is more than prior year by 10% and unfavorable to budget by
17%. YTD is more than prior year by 8% and is unfavorable to budget by 7%.
Administrative Expenses of $354,472 are less than prior year by 17% but unfavorable to budget
by 22%. YTD costs are more than the prior year by 3% but favorable to budget by 1%. The main
drivers of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses) and
Medical expense (larger employer contribution to employee HSA accounts).
General Expenses of $22,530 are more than prior year by 20% but favorable to budget by 54%.
YTD costs are more the prior year by 3% but favorable to budget by 45%.
87
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Page 2 of 2
Total expenses YTD are 7% more than prior year and are unfavorable to budget by 3%. The
main driver causing the prior YTD variance is Purchased Power.
For May 2021, the Electric Department has a Net Loss of ($170,872) and YTD Net Profit of
$277,536. This is behind the budgeted monthly Net Loss of ($19,347) but is better than prior
year monthly Net Loss of ($288,421). YTD is behind the budgeted YTD Net Profit of $528,618
and is less than the prior YTD Net Profit of $641,344.
Water
May gallons of water sold are up 9% from the prior year. For further breakdown:
• Residential use is down 3%
• Commercial use is up 27%
Water Operating Revenues for May of $180,391 are ahead of prior year by 11% and favorable
to budget by 27%. YTD is ahead of prior year by 2% and favorable to budget by 15%.
Other Revenues of $65,269 are ahead of prior year by 99% and favorable to budget by 65%.
YTD is ahead of prior year by 37% and favorable to budget by 92%. The main driver of the YTD
variance to prior year and budget are Connection Fees.
Overall, Total Revenues of $245,660 are ahead of prior year by 26% and are ahead of prior YTD
by 12%. YTD Total Revenues are favorable to budget by 34%.
Total Expenses of $249,054 are less than prior year by 8% but more than prior YTD by 19%. YTD
is unfavorable to budget by 3%. The main driver of the prior YTD variance is from Mtce of
Structures, which is due to the transfer of the Jackson Street Water Tower.
For May 2021, the Water Department has a Net Loss of ($3,393) (typical for the water
department) and YTD Net Loss of ($239,686). This is better than the budgeted monthly Net Loss
of ($76,691) and better than the prior year monthly Net Loss of ($74,662). YTD is ahead of the
budgeted YTD Net Loss of ($481,160) but is behind the prior YTD Net Loss of ($143,214).
ATTACHMENTS:
• Combined Balance Sheet 05.2021
• Electric Balance Sheet 05.2021
• Water Balance Sheet 05.2021
• Summary Electric Statement of Revenues, Expenses and Changes in Net Position
05.2021
• Summary Water Statement of Revenues, Expenses and Changes in Net Position 05.2021
• Graphs Prior Year and YTD 2021
• Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 05.2021
• Detailed Water Statement of Revenues, Expenses and Changes in Net Position 05.2021
88
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING MAY 2021
ELECTRIC WATER
ASSETS
CURRENT ASSETS
CASH 6,895,63723,797,635
ACCOUNTS RECEIVABLE 278,3311,921,080
INVENTORIES 21,4391,138,920
PREPAID ITEMS 35,467212,071
CONSTRUCTION IN PROGRESS 31,0052,038,597
TOTAL CURRENT ASSETS 7,261,87829,108,303
RESTRICTED ASSETS
BOND RESERVE FUND 01,779,016
EMERGENCY RESERVE FUND 1,334,1152,822,697
UNRESTRICTED RESERVE FUND 00
TOTAL RESTRICTED ASSETS 1,334,1154,601,712
FIXED ASSETS
PRODUCTION 14,805,401788,761
LFG PROJECT 03,851,442
TRANSMISSION 02,305,024
DISTRIBUTION 23,632,64142,695,774
GENERAL 1,053,79011,387,954
FIXED ASSETS (COST)39,491,83361,028,955
LESS ACCUMULATED DEPRECIATION (20,341,655)(32,414,156)
TOTAL FIXED ASSETS, NET 19,150,17828,614,799
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY-IN 021,546,212
LOSS OF REVENUE INTANGIBLE 03,425,465
LESS ACCUMULATED AMORTIZATION 0(1,780,543)
TOTAL INTANGIBLE ASSETS, NET 023,191,135
OTHER ASSETS AND DEFERRED OUTFLOWS 46,625288,697
TOTAL ASSETS 27,792,79785,804,645
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 316,6804,259,521
SALARIES AND BENEFITS PAYABLE 108,498440,144
DUE TO CITY 1,034674,106
DUE TO OTHER FUNDS 00
NOTES PAYABLE-CURRENT PORTION 0120,526
BONDS PAYABLE-CURRENT PORTION 0185,000
UNEARNED REVENUE 49,4525,930
TOTAL CURRENT LIABILITIES 475,6645,685,227
LONG TERM LIABILITIES
OPEB LIABILITY 44,526208,274
LFG PROJECT 0209,124
DUE TO COUNTY 00
BONDS PAYABLE, LESS CURRENT PORTION 336,95131,544,940
PENSION LIABILITIES 446,5372,791,010
TOTAL LONG TERM LIABILITIES 828,01334,753,348
TOTAL LIABILITIES 1,303,67740,438,574
DEFERRED INFLOWS OF RESOURCES 21,807140,160
FUND EQUITY
CAPITAL ACCOUNT CONST COST 01,779,016
CONTRIBUTED CAPITAL 00
RETAINED EARNINGS 26,706,99943,169,359
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(239,687)277,537
TOTAL FUND EQUITY 26,467,31345,225,911
TOTAL LIABILITIES & FUND EQUITY 27,792,79785,804,645
89
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
ELECTRIC BALANCE SHEET
Current Month
Change from
Prior MonthMay 31, 2021 April 30, 2021
ASSETS
CURRENT ASSETS
CASH 23,797,635 11,820,054 11,977,581
ACCOUNTS RECEIVABLE 1,921,080 2,138,959 (217,879)
INVENTORIES 1,138,920 953,891 185,029
PREPAID ITEMS 212,071 244,107 (32,036)
CONSTRUCTION IN PROGRESS 2,038,597 1,642,130 396,467
TOTAL CURRENT ASSETS 29,108,303 16,799,141 12,309,161
RESTRICTED ASSETS
BOND RESERVE FUND 1,779,016 1,261,359 517,657
EMERGENCY RESERVE FUND 2,822,697 2,820,246 2,451
TOTAL RESTRICTED ASSETS 4,601,712 4,081,605 520,108
FIXED ASSETS
PRODUCTION 788,761 788,761 0
LFG PROJECT 3,851,442 3,851,442 0
TRANSMISSION 2,305,024 2,305,024 0
DISTRIBUTION 42,695,774 42,539,044 156,730
GENERAL 11,387,954 11,378,462 9,492
FIXED ASSETS (COST)61,028,955 60,862,733 166,222
LESS ACCUMULATED DEPRECIATION (32,414,156)(32,223,028)(191,128)
TOTAL FIXED ASSETS, NET 28,614,799 28,639,705 (24,906)
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 21,546,212 0
LOSS OF REVENUE INTANGIBLE 3,425,465 3,425,465 0
LESS ACCUMULATED AMORTIZATION (1,780,543)(1,724,865)(55,678)
TOTAL INTANGIBLE ASSETS, NET 23,191,135 23,246,813 (55,678)
OTHER ASSETS AND DEFERRED OUTFLOWS 288,697 289,254 (557)
TOTAL ASSETS 85,804,645 73,056,518 12,748,128
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 4,259,521 3,516,415 743,106
SALARIES AND BENEFITS PAYABLE 440,144 414,687 25,456
DUE TO CITY 674,106 865,555 (191,449)
NOTES PAYABLE-CURRENT PORTION 120,526 137,744 (17,218)
BONDS PAYABLE-CURRENT PORTION 185,000 185,000 0
UNEARNED REVENUE 5,930 6,777 (847)
TOTAL CURRENT LIABILITIES 5,685,227 5,126,179 559,048
LONG TERM LIABILITIES
OPEB LIABILITY 208,274 208,274 0
LFG PROJECT 209,124 209,124 0
BONDS PAYABLE, LESS CURRENT PORTION 31,544,940 19,184,988 12,359,953
PENSION LIABILITIES 2,791,010 2,791,010 0
TOTAL LONG TERM LIABILITIES 34,753,348 22,393,395 12,359,953
TOTAL LIABILITIES 40,438,574 27,519,574 12,919,000
DEFERRED INFLOWS OF RESOURCES 140,160 140,160 0
FUND EQUITY
CAPITAL ACCOUNT CONST COST 1,779,016 1,261,359 517,657
RETAINED EARNINGS 43,169,359 43,687,015 (517,657)
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)277,537 448,409 (170,873)
TOTAL FUND EQUITY 45,225,911 45,396,784 (170,873)
TOTAL LIABILITIES & FUND EQUITY 85,804,645 73,056,518 12,748,128
90
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
WATER BALANCE SHEET
Current Month
Change from
Prior MonthMay 31, 2021 April 30, 2021
ASSETS
CURRENT ASSETS
CASH 6,895,637 6,743,928 151,709
ACCOUNTS RECEIVABLE 278,331 327,170 (48,838)
INVENTORIES 21,439 19,426 2,013
PREPAID ITEMS 35,467 39,086 (3,619)
CONSTRUCTION IN PROGRESS 31,005 27,261 3,744
TOTAL CURRENT ASSETS 7,261,878 7,156,870 105,008
RESTRICTED ASSETS
EMERGENCY RESERVE FUND 1,334,115 1,333,502 613
TOTAL RESTRICTED ASSETS 1,334,115 1,333,502 613
FIXED ASSETS
PRODUCTION 14,805,401 14,805,401 0
DISTRIBUTION 23,632,641 23,632,641 0
GENERAL 1,053,790 1,054,090 (300)
FIXED ASSETS (COST)39,491,833 39,492,133 (300)
LESS ACCUMULATED DEPRECIATION (20,341,655)(20,246,090)(95,565)
TOTAL FIXED ASSETS, NET 19,150,178 19,246,043 (95,865)
INTANGIBLE ASSETS
OTHER ASSETS AND DEFERRED OUTFLOWS 46,625 46,765 (139)
TOTAL ASSETS 27,792,797 27,783,180 9,617
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 316,680 301,195 15,485
SALARIES AND BENEFITS PAYABLE 108,498 105,243 3,255
DUE TO CITY 1,034 1,567 (533)
UNEARNED REVENUE 49,452 72,079 (22,627)
TOTAL CURRENT LIABILITIES 475,664 480,084 (4,420)
LONG TERM LIABILITIES
OPEB LIABILITY 44,526 44,526 0
BONDS PAYABLE, LESS CURRENT PORTION 336,951 319,520 17,431
PENSION LIABILITIES 446,537 446,537 0
TOTAL LONG TERM LIABILITIES 828,013 810,583 17,431
TOTAL LIABILITIES 1,303,677 1,290,667 13,011
DEFERRED INFLOWS OF RESOURCES 21,807 21,807 0
FUND EQUITY
RETAINED EARNINGS 26,706,999 26,706,999 0
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(239,687)(236,293)(3,393)
TOTAL FUND EQUITY 26,467,313 26,470,706 (3,393)
TOTAL LIABILITIES & FUND EQUITY 27,792,797 27,783,180 9,617
91
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
Revenue
Operating Revenue
Elk River 2,433,662 12,938,768 12,875,582 2,280,112 12,476,9030 434,369,210 461,865
Otsego 184,940 1,075,768 1,035,322 150,982 977,1864 102,745,252 98,581
Rural Big Lake 11,300 74,029 77,206 11,915 73,502(4)1196,078 527
Dayton 13,669 89,100 91,577 13,491 85,434(3)4233,388 3,665
Public St & Hwy Lighting 20,922 104,663 101,666 20,671 102,2373 2244,000 2,425
Other Electric Sales 400 2,000 2,000 400 2,0000 04,800 0
Total Operating Revenue 2,664,896 14,284,329 14,183,356 2,477,573 13,717,2641 437,792,730 567,065
Other Operating Revenue
Interest/Dividend Income 8,230 28,392 29,166 15,623 82,287(3)(65)70,000 (53,894)
Customer Penalties 0 0 0 (47)42,6500 (100)0 (42,650)
LFG Project 77,981 420,285 494,294 95,846 481,933(15)(13)1,186,307 (61,647)
Connection Fees 19,725 110,950 51,000 7,875 51,798118 114145,000 59,152
Misc Revenue 96,141 378,505 260,187 40,794 283,81645 33626,451 94,689
Total Other Revenue 202,079 938,134 834,649 160,092 942,48512 02,027,758 (4,350)
Total Revenue 2,866,975 15,222,464 15,018,005 2,637,665 14,659,7491 439,820,488 562,714
Expenses
Purchased Power 2,028,382 9,775,121 9,125,514 1,847,859 9,048,1677 825,546,479 726,954
Operating & Mtce Expense 20,192 110,165 123,581 14,939 107,264(11)3282,000 2,900
Landfill Gas 59,507 300,867 326,135 59,612 297,207(8)1782,725 3,660
Transmission Expense 4,770 23,111 30,833 3,743 18,968(25)2274,000 4,143
Distribution Expense 20,035 165,772 143,006 24,737 119,46616 39343,216 46,305
Maintenance Expense 90,071 565,201 592,291 92,404 535,171(5)61,331,500 30,029
Depreciation & Amortization 246,806 1,226,481 1,262,650 240,178 1,198,025(3)23,105,509 28,456
Interest Expense 47,756 240,950 240,949 50,653 255,3820 (6)571,390 (14,432)
Other Operating Expense 389 44,220 13,812 1,526 12,627220 250160,150 31,592
Customer Accounts Expense 26,469 134,591 143,333 32,472 142,360(6)(5)344,000 (7,769)
Administrative Expense 354,472 1,613,625 1,634,381 429,576 1,562,053(1)33,740,500 51,571
General Expense 22,530 131,947 242,039 18,758 128,098(45)3582,701 3,849
Total Expenses(before Operating Transfers)2,921,383 14,332,055 13,878,530 2,816,464 13,424,7953 736,864,171 907,260
Operating Transfer
Operating Transfer/Other Funds 98,014 520,897 515,023 91,866 502,3321 41,374,768 18,565
Utilities & Labor Donated 18,449 91,973 95,833 17,756 91,278(4)1230,000 695
Total Operating Transfer 116,464 612,871 610,856 109,623 593,6100 31,604,768 19,261
Net Income Profit(Loss)(170,872)277,536 528,618 (288,421)641,344(47)(57)1,351,548 (363,807)
92
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETWater
Revenue
Operating Revenue
Water Sales 180,391 707,403 613,621 162,675 696,23515 22,299,751 11,168
Total Operating Revenue 180,391 707,403 613,621 162,675 696,23515 22,299,751 11,168
Other Operating Revenue
Interest/Dividend Income 2,340 9,053 16,250 3,878 20,429(44)(56)39,000 (11,375)
Customer Penalties 0 0 0 0 3,8010 (100)0 (3,801)
Connection Fees 39,327 252,936 64,166 8,552 150,401294 68154,000 102,534
Misc Revenue 23,601 118,572 117,924 20,365 103,3921 15285,980 15,180
Total Other Revenue 65,269 380,563 198,341 32,795 278,02492 37478,980 102,538
Total Revenue 245,660 1,087,966 811,962 195,471 974,25934 122,778,731 113,706
Expenses
Production Expense 5,503 128,079 25,500 5,155 12,188402 95161,200 115,890
Pumping Expense 41,156 204,756 221,249 36,046 178,022(7)15531,000 26,733
Distribution Expense 19,577 101,678 120,941 21,881 71,005(16)43272,500 30,672
Depreciation & Amortization 95,564 481,035 493,759 94,404 472,958(3)21,182,604 8,076
Interest Expense 1,051 6,099 6,099 1,893 10,2580 (41)13,459 (4,158)
Other Operating Expense 2 (655)625 81 2,506(205)(126)42,000 (3,162)
Customer Accounts Expense 5,754 29,247 28,541 5,180 26,6312 1068,500 2,615
Administrative Expense 79,670 373,148 390,093 103,239 338,162(4)10907,289 34,985
General Expense 773 4,169 5,687 2,250 5,740(27)(27)13,650 (1,570)
Total Expenses(before Operating Transfers)249,054 1,327,557 1,292,498 270,134 1,117,4743 193,092,203 210,082
Operating Transfer
Utilities & Labor Donated 0 95 625 0 0(85)01,500 95
Total Operating Transfer 0 95 625 0 0(85)01,500 95
Net Income Profit(Loss)(3,393)(239,686)(481,160)(74,662)(143,214)50 (67)(314,972)(96,471)
93
35.0
40.0
45.0
50.0
55.0
60.0
65.0
70.0
75.0
80.0
Demand in MWMonth
Elk River Municipal Utilities Monthly Electrical Demand
2020 2021
15,000
20,000
25,000
30,000
35,000
40,000
Energy Purchases in MWHMonth
Elk River Municipal Utilities Monthly Energy Purchases
2020 2021
94
15,000
20,000
25,000
30,000
35,000
40,000
Electric Load in MWHMonth
Elk River Municipal Utilities Monthly Total Electric Load
2020 2021
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
Sales in DollarsMonth
Elk River Municipal Utilities Monthly Electric Sales
2020 2021
95
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
Loads in MWHMonth
Elk River Municipal Utilities Monthly Residential, Commercial & Industrial
Loads
2020 Residential 2021 Residential 2020 Commercial
2021 Commercial 2020 Industrial 2021 Industrial
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
Sales in DollarsMonth
Elk River Municipal Utilities Monthly Residential, Commercial & Industrial
Sales
2020 Residential 2021 Residential 2020 Commercial
2021 Commercial 2020 Industrial 2021 Industrial
96
0
20
40
60
80
100
120
140
160
180
Pumpage in Million Gal.Month
Elk River Municipal Utilities Monthly Water Pumpage
2020 2021
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
Peak Day in Million Gal.Month
Elk River Municipal Utilities Peak Day Pumpage
2020 2021
97
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
0
20
40
60
80
100
120
140
Sales In DollarsSales in Million Gal.Month
Elk River Municipal Utilities Monthly Water Sales
2020 MG 2021 MG 2020 $2021 $
98
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
Revenue
Operating Revenue
Elk River
ELECT SALES - ELK RIVER RESID 783,926 4,653,682776,436 4,764,3784,814,771 1 312,599,984 161,089
ELECT SALES - ELK RIVER NON-D 185,350 1,142,823203,980 1,203,4521,157,992 (4)13,009,962 15,169
ELECT SALES - ELK RIVER DEMA 1,310,834 6,680,3971,453,245 6,907,7516,966,004 1 418,759,263 285,606
2,433,662 12,938,768 12,875,582 2,280,112 12,476,9030 4Total For Elk River:34,369,210 461,865
Otsego
ELECT SALES - OTSEGO RESIDEN 76,774 460,98074,387 481,007475,863 (1)31,274,499 14,883
ELECT SALES - OTSEGO NON-DEM 20,455 129,34225,858 138,004142,101 3 10395,301 12,759
ELECT SALES - OTSEGO DEMAND 53,752 386,86484,694 416,310457,803 10 181,075,451 70,939
184,940 1,075,768 1,035,322 150,982 977,1864 10Total For Otsego:2,745,252 98,581
Rural Big Lake
ELECT SALES - BIG LAKE RESIDE 11,741 72,67811,110 76,37073,189 (4)1192,154 510
ELECT SALES - BIG LAKE NON-DE 174 8231898368390 23,923 16
11,300 74,029 77,206 11,915 73,502(4)1Total For Rural Big Lake:196,078 527
Dayton
ELECT SALES - DAYTON RESIDEN 11,356 72,39011,173 78,31475,047 (4)4198,924 2,656
ELECT SALES - DAYTON NON-DE 2,134 13,0432,496 13,26214,052 6 834,464 1,008
13,669 89,100 91,577 13,491 85,434(3)4Total For Dayton:233,388 3,665
Public St & Hwy Lighting
ELECT SALES - SEC LTS 20,671 102,23720,922 101,666104,663 3 2244,000 2,425
20,922 104,663 101,666 20,671 102,2373 2Total For Public St & Hwy Lighting:244,000 2,425
Other Electric Sales
SUB-STATION CREDIT 400 2,0004002,0002,000 0 04,800 0
400 2,000 2,000 400 2,0000 0Total For Other Electric Sales:4,800 0
Total Operating Revenue
2,477,573 13,717,2642,664,896 14,183,35614,284,329 1 437,792,730 567,065
Other Operating Revenue
Interest/Dividend Income
INTEREST & DIVIDEND INCOME 15,623 82,2878,230 29,16628,392 (3)(65)70,000 (53,894)
8,230 28,392 29,166 15,623 82,287(3)(65)Total For Interest/Dividend Income:70,000 (53,894)
Customer Penalties
CUSTOMER DELINQUENT PENALT (47)42,6500000 (100)0 (42,650)
0 0 0 (47)42,6500 (100)Total For Customer Penalties:0 (42,650)
LFG Project 99
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
LFG PROJECT 95,846 481,93377,981 494,294420,285 (15)(13)1,186,307 (61,647)
77,981 420,285 494,294 95,846 481,933(15)(13)Total For LFG Project:1,186,307 (61,647)
Connection Fees
DISCONNECT & RECONNECT CHA 7,875 51,79819,725 51,000110,950 118 114145,000 59,152
19,725 110,950 51,000 7,875 51,798118 114Total For Connection Fees:145,000 59,152
Misc Revenue
MISC ELEC REVENUE - TEMP CHG 150 9003002081,812 771 101500912
STREET LIGHT 3,000 16,50010,800 1,25037,800 2,924 1295,000 21,300
TRANSMISSION INVESTMENTS 30,281 148,18835,306 192,062164,456 (14)11460,951 16,268
MISC NON-UTILITY 4,302 23,7614,409 25,00028,870 15 2260,000 5,108
GAIN ON DISPOSITION OF PROPER 0 2,3170000 (100)0 (2,317)
RENTAL PROPERTY INCOME 290 7,3500000 (100)0 (7,350)
CONTRIBUTIONS FROM CUSTOME 2,770 84,79845,325 41,666145,566 249 72100,000 60,767
96,141 378,505 260,187 40,794 283,81645 33Total For Misc Revenue:626,451 94,689
Total Other Revenue
160,092 942,485202,079 834,649938,134 12 02,027,758 (4,350)
202,079 938,134 834,649 160,092 942,48512 0Total For Total Other Revenue:2,027,758 (4,350)
2,637,665 14,659,7492,866,975 15,018,005 Total Revenue 15,222,464 1 439,820,488 562,714
Expenses
Purchased Power
PURCHASED POWER 1,847,859 9,048,1672,028,382 9,125,5149,775,121 7 825,546,479 726,954
2,028,382 9,775,121 9,125,514 1,847,859 9,048,1677 8Total For Purchased Power:25,546,479 726,954
Operating & Mtce Expense
OPERATING SUPERVISION 8,349 47,9209,261 50,41645,884 (9)(4)121,000 (2,036)
DIESEL OIL FUEL 246 2,460686,2502,022 (68)(18)15,000 (437)
NATURAL GAS 1,566 11,9261,515 12,16613,541 11 1427,000 1,615
ELECTRIC & WATER CONSUMPTI 1,777 12,1841,831 14,66511,689 (20)(4)33,000 (494)
PLANT SUPPLIES & OTHER EXPEN 1,498 4,4213,436 4,1667,592 82 7210,000 3,170
MISC POWER GENERATION EXPE 366 1,9911702,9164,362 50 1197,000 2,370
MAINTENANCE OF STRUCTURE -423 4,7294207,9164,677 (41)(1)19,000 (51)
MTCE OF PLANT ENGINES/GENER 436 11,2972,757 8,3337,231 (13)(36)20,000 (4,066)
MTCE OF PLANT/LAND IMPROVE 275 10,33273016,75013,164 (21)2730,000 2,831
20,192 110,165 123,581 14,939 107,264(11)3Total For Operating & Mtce Expense:282,000 2,900
Landfill Gas 100
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
LANDFILL GAS PLANT PURCHASE 15,302 74,26114,344 75,83371,039 (6)(4)182,000 (3,221)
LANDFILL GAS PLANT OPERATIO 42,606 213,03243,229 216,135216,433 0 2518,725 3,401
LANDFILL GAS PLANT ADMINIST 156 78220823,7503,374 (86)33157,000 2,592
LANDFILL GAS PLANT INSURANC 1,525 7,6251,607 8,3338,038 (4)520,000 412
LANDFILL GAS PLANT MTCE 22 1,5051172,0831,981 (5)325,000 475
59,507 300,867 326,135 59,612 297,207(8)1Total For Landfill Gas:782,725 3,660
Transmission Expense
TRANSMISSION MTCE AND EXPE 3,743 18,9684,770 30,83323,111 (25)2274,000 4,143
4,770 23,111 30,833 3,743 18,968(25)22Total For Transmission Expense:74,000 4,143
Distribution Expense
REMOVE EXISTING SERVICE & M 168 1689083390(89)(46)2,000 (77)
SCADA EXPENSE 2,666 15,5802,752 17,83316,135 (10)442,800 555
TRANSFORMER EXPENSE OH & U 1,457 5,6067896,6664,293 (36)(23)16,000 (1,312)
MTCE OF SIGNAL SYSTEMS 416 4160833252(70)(39)2,000 (164)
METER EXPENSE - REMOVE & RE 0 22404160(100)(100)1,000 (224)
TEMP SERVICE - INSTALL & REM 0 1,27908331,212 45 (5)2,000 (67)
MISC DISTRIBUTION EXPENSE 20,029 96,19116,402 114,583143,788 25 49275,000 47,596
INTERCONNECTION CARRYING C 0 001,0060 (100)02,416 0
20,035 165,772 143,006 24,737 119,46616 39Total For Distribution Expense:343,216 46,305
Maintenance Expense
MTCE OF STRUCTURES 2,000 11,1572,101 11,45810,101 (12)(9)27,500 (1,055)
MTCE OF SUBSTATIONS 1,530 7,22033711,6663,861 (67)(47)28,000 (3,358)
MTCE OF SUBSTATION EQUIPME 770 3,8485,644 23,75025,934 9 57457,000 22,085
MTCE OF OH LINES/TREE TRIM 1,061 120,6040100,00056,907 (43)(53)150,000 (63,696)
MTCE OF OH LINES/STANDBY 2,227 12,5043,385 13,33314,874 12 1932,000 2,369
MTCE OF OH PRIMARY 15,668 58,28120,323 66,66664,550 (3)11160,000 6,269
MTCE OF URD PRIMARY 13,450 49,8248,447 64,58382,751 28 66155,000 32,926
LOCATE ELECTRIC LINES 9,575 28,42311,068 40,41637,470 (7)3297,000 9,046
LOCATE FIBER LINES 92 12315416190(54)541,000 67
MTCE OF LINE TRANSFORMERS 6,482 13,0588,928 18,75038,227 104 19345,000 25,168
MTCE OF STREET LIGHTING 3,824 23,846(4,685)18,7507,015 (63)(71)45,000 (16,830)
MTCE OF SECURITY LIGHTING 478 1,3984544,1663,286 (21)13510,000 1,887
MTCE OF METERS 5,151 33,4655,384 35,41623,090 (35)(31)85,000 (10,375)
VOLTAGE COMPLAINTS 1,109 2,9902614,1662,413 (42)(19)10,000 (576)
SALARIES TRANSMISSION & DIST 3,169 18,0712,148 17,91610,891 (39)(40)43,000 (7,179)101
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
ELECTRIC MAPPING 4,636 39,1944,461 41,66636,568 (12)(7)100,000 (2,625)
MTCE OF OH SECONDARY 2,154 10,2691,816 8,3336,279 (25)(39)20,000 (3,989)
MTCE OF URD SECONDARY 2,985 16,4862,829 17,08316,708 (2)141,000 222
TRANSPORTATION EXPENSE 16,035 84,40117,148 93,750124,077 32 47225,000 39,676
90,071 565,201 592,291 92,404 535,171(5)6Total For Maintenance Expense:1,331,500 30,029
Depreciation & Amortization
DEPRECIATION 184,500 919,635191,128 984,260948,091 (4)32,437,374 28,456
AMORTIZATION 55,677 278,38955,677 278,389278,389 0 0668,135 0
246,806 1,226,481 1,262,650 240,178 1,198,025(3)2Total For Depreciation & Amortization:3,105,509 28,456
Interest Expense
INTEREST EXPENSE - BONDS 54,942 276,82752,045 262,395262,395 0 (5)622,859 (14,432)
INTEREST EXPENSE - DEFEASED (276)(1,381)(276)(1,382)(1,381)0 0(3,317)0
AMORTIZATION OF DEBT DISCOU (4,012)(20,063)(4,012)(20,063)(20,063)0 0(48,152)0
47,756 240,950 240,949 50,653 255,3820 (6)Total For Interest Expense:571,390 (14,432)
Other Operating Expense
EV CHARGING EXPENSE 244 1,2903151,9371,741 (10)354,650 450
LOSS ON DISPOSITION OF PROP (C 0 5505,20842,111 709 76,46512,500 42,056
OTHER DONATIONS 42 30301,2500 (100)(100)3,000 (303)
PENSION EXPENSE 0 00000 082,000 0
OPEB EXPENSE 0 00000 045,000 0
INTEREST EXPENSE - METER DEP 1,049 5,273735,416367 (93)(93)13,000 (4,906)
RENTAL PROPERTY EXPENSE 190 5,7050000 (100)0 (5,705)
389 44,220 13,812 1,526 12,627220 250Total For Other Operating Expense:160,150 31,592
Customer Accounts Expense
METER READING EXPENSE 3,297 13,2963,476 14,16616,308 15 2334,000 3,011
DISCONNECT/RECONNECT EXPEN 40 2,2659566,2505,926 (5)16215,000 3,661
MISC CUSTOMER ACCOUNTS EXP 21,711 114,29421,254 114,583110,001 (4)(4)275,000 (4,292)
BAD DEBT EXPENSE & RECOVER 7,423 12,5037828,3332,354 (72)(81)20,000 (10,149)
26,469 134,591 143,333 32,472 142,360(6)(5)Total For Customer Accounts Expense:344,000 (7,769)
Administrative Expense
SALARIES OFFICE & COMMISSION 55,566 283,33864,676 317,500333,766 5 18762,000 50,428
SALARIES COVID-19 160,583 160,5830021,040 0 (87)0 (139,543)
TEMPORARY STAFFING 0 001,6660 (100)04,000 0
OFFICE SUPPLIES 11,697 36,7544,463 68,75036,585 (47)0165,000 (168)
ELECTRIC & WATER CONSUMPTI 2,505 10,3082,032 12,9169,848 (24)(4)31,000 (460)
102
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
BANK FEES 188 8931861,100960 (13)82,640 66
LEGAL FEES 3,522 15,6051,620 13,33310,532 (21)(33)32,000 (5,073)
AUDITING FEES 1,380 6,2601,500 7,5007,500 0 2018,000 1,240
INSURANCE 12,217 79,87913,106 72,91665,532 (10)(18)175,000 (14,346)
UTILITY SHARE - DEFERRED COM 11,523 57,4778,455 48,95862,098 27 8117,500 4,620
UTILITY SHARE - MEDICAL/DENT 58,202 339,30556,967 408,401385,561 (6)14807,166 46,255
UTILITY SHARE - PERA 20,001 106,17121,033 112,475106,994 (5)1269,940 822
UTILITY SHARE - FICA 18,289 98,78020,177 105,270103,135 (2)4252,650 4,354
EMPLOYEE SICK PAY 13,134 56,5188,806 52,91655,333 5 (2)127,000 (1,184)
EMPLOYEE HOLIDAY PAY 12,008 49,77312,978 50,36350,134 0 1138,500 360
EMPLOYEE VACATION & PTO PA 24,082 113,42516,311 111,636106,879 (4)(6)230,000 (6,545)
UPMIC DISTRIBUTION 0 12,482015,5009,704 (37)(22)62,000 (2,777)
CONSULTING FEES 11,529 25,21816,250 30,08320,612 (31)(18)72,200 (4,606)
TELEPHONE 2,515 12,1792,813 12,91611,747 (9)(4)31,000 (431)
ADVERTISING 120 5,3241,070 6,2506,427 3 2115,000 1,103
DUES & SUBSCRIPTIONS - FEES 8,809 44,87088,256 91,705157,015 71 250220,093 112,144
SCHOOLS & MEETINGS 821 42,51713,170 88,47149,232 (44)16198,811 6,714
MTCE OF GENERAL PLANT & OFFI 877 4,3855963,7502,982 (20)(32)9,000 (1,402)
354,472 1,613,625 1,634,381 429,576 1,562,053(1)3Total For Administrative Expense:3,740,500 51,571
General Expense
CIP REBATES - RESIDENTIAL 1,270 8,9963,905 27,93714,539 (48)6267,050 5,543
CIP REBATES - COMMERCIAL 1,756 43,0083292,58311,298 (88)(74)222,200 (31,710)
CIP - ADMINISTRATION 49 24342434,0282,404 (93)88681,668 2,161
CIP - MARKETING 1,586 6,0992,595 19,16613,511 (30)12146,000 7,411
CIP - LABOR 11,478 55,73311,944 41,70161,446 47 10100,083 5,713
CIP REBATES - LOW INCOME 0 006,4585,770 (11)015,500 5,770
CIP - LOW INCOME LABOR 460 2,9698236,4584,482 (31)5115,500 1,513
ENVIRONMENTAL COMPLIANCE 2,412 11,9372,817 12,66312,799 1 732,200 862
MISC GENERAL EXPENSE (254)(889)(12)1,0415,694 447 7412,500 6,584
22,530 131,947 242,039 18,758 128,098(45) 3Total For General Expense:582,701 3,849
Total Expenses(before Operating Transfers)
2,816,464 13,424,7952,921,383 13,878,53014,332,055 3 736,864,171 907,260
Operating Transfer
Operating Transfer/Other Funds
TRANSFER TO CITY ELK RIVER R 91,866 502,33298,014 515,023520,897 1 41,374,768 18,565103
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
98,014 520,897 515,023 91,866 502,3321 4Total For Operating Transfer/Other Funds:1,374,768 18,565
Utilities & Labor Donated
UTILITIES & LABOR DONATED TO 17,756 91,27818,449 95,83391,973 (4)1230,000 695
18,449 91,973 95,833 17,756 91,278(4)1Total For Utilities & Labor Donated:230,000 695
Total Operating Transfer
116,464 612,871 610,856 109,623 593,6100 3Total For Total Operating Transfer:1,604,768 19,261
(288,421)641,344(170,872)528,618 Net Income Profit(Loss)277,536 (47)(57)1,351,548 (363,807)
104
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETWater
Revenue
Operating Revenue
Water Sales
WATER SALES RESIDENTIAL 106,993 434,003104,953 362,010442,444 22 21,256,746 8,440
WATER SALES COMMERCIAL 48,339 248,12850,320 239,263231,262 (3)(7)800,700 (16,866)
WATER SALES IRRIGATION 7,342 14,10225,117 12,34633,696 173 139242,304 19,593
180,391 707,403 613,621 162,675 696,23515 2Total For Water Sales:2,299,751 11,168
Total Operating Revenue
162,675 696,235180,391 613,621707,403 15 22,299,751 11,168
180,391 707,403 613,621 162,675 696,23515 2Total For Total Operating Revenue:2,299,751 11,168
Other Operating Revenue
Interest/Dividend Income
INTEREST & DIVIDEND INCOME 3,878 20,4292,340 15,8339,053 (43)(56)38,000 (11,375)
OTHER INTEREST/MISC REVENUE 0 004160(100)01,000 0
2,340 9,053 16,250 3,878 20,429(44)(56)Total For Interest/Dividend Income:39,000 (11,375)
Customer Penalties
CUSTOMER PENALTIES 0 3,8010000 (100)0 (3,801)
0 0 0 0 3,8010 (100)Total For Customer Penalties:0 (3,801)
Connection Fees
WATER/ACCESS/CONNECTION FE 6,792 142,69637,916 45,833238,536 420 67110,000 95,840
CUSTOMER CONNECTION FEES 1,760 5,72499812,50013,926 11 14330,000 8,202
BULK WATER SALES/HYDRANT R 0 1,9814125,833473 (92)(76)14,000 (1,508)
39,327 252,936 64,166 8,552 150,401294 68Total For Connection Fees:154,000 102,534
Misc Revenue
RENTAL PROPERTY INCOME 72 1,8370000 (100)0 (1,837)
MISCELLANEOUS REVENUE 0 24005330 2,1250509
HYDRANT MAINTENANCE PROGR 940 4,7689754,7914,905 2 311,500 137
WATER TOWER LEASE 19,352 96,76222,626 113,133113,133 0 17274,480 16,370
23,601 118,572 117,924 20,365 103,3921 15Total For Misc Revenue:285,980 15,180
Total Other Revenue
32,795 278,02465,269 198,341380,563 92 37478,980 102,538
65,269 380,563 198,341 32,795 278,02492 37Total For Total Other Revenue:478,980 102,538
195,471 974,259245,660 811,962 Total Revenue 1,087,966 34 122,778,731 113,706
Expenses
105
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETWater
Production Expense
MTCE OF STRUCTURES 5,155 12,1885,503 25,500128,079 402 95161,200 115,890
5,503 128,079 25,500 5,155 12,188402 951Total For Production Expense:61,200 115,890
Pumping Expense
SUPERVISION 4,428 23,5214,968 26,25023,362 (11)(1)63,000 (158)
ELECTRIC & GAS UTILITIES 24,079 96,26825,401 100,000103,130 3 7240,000 6,862
SAMPLING 685 3,3417466,2505,028 (20)5015,000 1,687
CHEMICAL FEED 465 7,4863,946 11,6669,546 (18)2828,000 2,060
MTCE OF ELECTRIC PUMPING EQ 0 000360 0036
MTCE OF WELLS 6,211 46,3025,899 72,91662,101 (15)34175,000 15,799
SCADA - PUMPING 177 1,1031934,1661,549 (63)4110,000 446
41,156 204,756 221,249 36,046 178,022(7)15Total For Pumping Expense:531,000 26,733
Distribution Expense
MTCE OF WATER MAINS 8,791 14,48111,141 35,41632,012 (10)12185,000 17,530
LOCATE WATER LINES 1,705 3,6351,417 6,6666,591 (1)8116,000 2,956
WATER METER SERVICE 5,659 14,60098918,75013,198 (30)(10)45,000 (1,401)
BACKFLOW DEVICE INSPECTION 0 06784,9003,391 (31)015,000 3,391
MTCE OF CUSTOMERS SERVICE 1,887 9,1872,759 10,41611,325 9 2325,000 2,137
WATER MAPPING 730 3,0428815,0002,906 (42)(5)12,000 (136)
MTCE OF WATER HYDRANTS - PU 950 1,9066378,3332,397 (71)2620,000 490
MTCE OF WATER HYDRANTS - PR 447 44702,9160 (100)(100)7,000 (447)
WATER CLOTHING/PPE 349 4,92604,1668,489 104 7210,000 3,563
WAGES WATER 444 2,7855523,1252,639 (16)(5)7,500 (146)
TRANSPORTATION EXPENSE 915 3,5945186,2503,849 (38)715,000 255
WATER PERMIT 0 12,396015,00014,875 (1)2015,000 2,478
19,577 101,678 120,941 21,881 71,005(16)43Total For Distribution Expense:272,500 30,672
Depreciation & Amortization
DEPRECIATION 94,404 472,95895,564 493,759481,035 (3)21,182,604 8,076
95,564 481,035 493,759 94,404 472,958(3)2Total For Depreciation & Amortization:1,182,604 8,076
Interest Expense
INTEREST EXPENSE - BONDS 1,962 10,6031,120 6,4446,444 0 (39)14,288 (4,158)
INTEREST EXPENSE - DEFEASED (69)(345)(69)(345)(345)0 0(829)0
1,051 6,099 6,099 1,893 10,2580 (41)Total For Interest Expense:13,459 (4,158)
Other Operating Expense
LOSS ON DISPOSITION OF PROP (C 0 180000 (100)0 (18)
DAM MAINTENANCE EXPENSE 0 8930416(667)(260)(175)1,000 (1,560)106
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETWater
PENSION EXPENSE 0 00000 020,500 0
OPEB EXPENSE 0 00000 020,000 0
INTEREST EXPENSE - METER DEP 33 168220811(95)(93)500 (157)
RENTAL PROPERTY EXPENSE 47 1,4260000 (100)0 (1,426)
2 (655)625 81 2,506(205)(126)Total For Other Operating Expense:42,000 (3,162)
Customer Accounts Expense
METER READING EXPENSE 151 8631781,041891 (14)32,500 27
MISC CUSTOMER ACCOUNTS EXP 5,029 25,7675,576 27,08328,356 5 1065,000 2,588
BAD DEBT EXPENSE & RECOVER 0 004160(100)01,000 0
5,754 29,247 28,541 5,180 26,6312 10Total For Customer Accounts Expense:68,500 2,615
Administrative Expense
SALARIES OFFICE & COMMISSION 15,024 78,97418,808 87,91696,241 9 22211,000 17,266
SALARIES COVID-19 30,762 30,762001,791 0 (94)0 (28,971)
TEMPORARY STAFFING 0 004160(100)01,000 0
OFFICE SUPPLIES 2,841 7,8502,006 17,18712,460 (28)5941,250 4,610
ELECTRIC & WATER CONSUMPTI 626 2,5775083,3332,462 (26)(4)8,000 (115)
BANK FEES 47 23842291245(16)37006
LEGAL FEES 1,715 4,5253583,3332,247 (33)(50)8,000 (2,277)
AUDITING FEES 345 1,5653751,8751,875 0 204,500 310
INSURANCE 2,010 9,6622,130 10,83310,650 (2)1026,000 988
UTILITY SHARE - DEFERRED COM 1,733 7,5331,411 8,3338,295 0 1020,000 762
UTILITY SHARE - MEDICAL/DENT 13,023 73,92912,649 101,56490,975 (10)23208,500 17,046
UTILITY SHARE - PERA 3,270 16,5033,696 19,16619,830 3 2046,000 3,326
UTILITY SHARE - FICA 3,083 15,0963,534 18,75019,119 2 2745,000 4,022
EMPLOYEE SICK PAY 1,767 7,8341,854 12,5008,395 (33)730,000 560
EMPLOYEE HOLIDAY PAY 2,083 6,9562,175 10,1819,415 (8)3528,000 2,458
EMPLOYEE VACATION & PTO PA 3,635 18,6672,462 20,27217,347 (14)(7)40,000 (1,320)
UPMIC DISTRIBUTION 0 2,45502,6251,872 (29)(24)10,500 (583)
WELLHEAD PROTECTION 0 00000 020,000 0
CONSULTING FEES 2,882 6,2282,629 5,6259,954 77 6013,500 3,725
TELEPHONE 510 2,4374652,5002,508 0 36,000 71
ADVERTISING 2,736 3,9562672,9161,985 (32)(50)7,000 (1,970)
DUES & SUBSCRIPTIONS - FEES 13,922 32,15723,256 38,80042,841 10 3380,327 10,684
SCHOOLS & MEETINGS 999 7,15388720,54611,885 (42)6649,312 4,731
MTCE OF GENERAL PLANT & OFFI 219 1,0951491,125745 (34)(32)2,700 (349)107
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MAY 2021
2021
MAY
2020
MAY
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETWater
79,670 373,148 390,093 103,239 338,162(4)10Total For Administrative Expense:907,289 34,985
General Expense
CIP REBATES - RESIDENTIAL 833 1,1583691,875894 (52)(23)4,500 (263)
CIP REBATES - COMMERCIAL 1,000 1,00002080(100)(100)500 (1,000)
CIP - MARKETING 0 4002080(100)(100)500 (40)
CIP - LABOR 372 1,9203551,9581,844 (6)(4)4,700 (76)
ENVIRONMENTAL COMPLIANCE 44 1,62148916620(32)(62)2,200 (1,001)
MISC GENERAL EXPENSE 0 (1)0 520809 55 81,0001,250 810
773 4,169 5,687 2,250 5,740(27)(27)Total For General Expense:13,650 (1,570)
Total Expenses(before Operating Transfers)
270,134 1,117,474249,054 1,292,4981,327,557 3 193,092,203 210,082
Operating Transfer
Utilities & Labor Donated
WATER & LABOR DONATED TO CI 0 0062595(85)01,500 95
Total Operating Transfer
0 95 625 0 0(85)0Total For Total Operating Transfer:1,500 95
(74,662)(143,214)(3,393)(481,160)Net Income Profit(Loss)(239,686)50 (67)(314,972)(96,471)
108