5.1 ERMUSR 08-10-2021______________________________________________________________________________
Page 1 of 3
UTILITIES COMMISSION MEETING
TO:
ERMU Commission
FROM:
Melissa Karpinski – Finance Manager
MEETING DATE:
August 10, 2021
AGENDA ITEM NUMBER:
5.1
SUBJECT:
Financial Report – June 2021
ACTION REQUESTED:
Receive the June 2021 Financial Report
DISCUSSION:
Please note that these are the preliminary unaudited financial statements.
Electric
June’s electric kWh sales are up from the prior year, 12%. For further breakdown:
• Residential usage is up 9%
• Small Commercial usage is up 15%
• Large Commercial usage is up 13%
Electric Operating Revenues for June of $3,252,666 are more than prior year by 11% and
favorable to budget by 7%. June YTD is ahead of prior year by 5% and favorable to budget by
2%. The prior YTD variance is mainly due to Elk River Sales.
Other Revenues of $221,402 are more than prior year by 18% and favorable to budget by 34%.
Other Revenues YTD is ahead of prior year by 3% and favorable to budget by 16%.
Overall, Total Revenues of $3,474,068 are more than prior year by 11% and favorable to budget
by 9%. YTD is more than prior year by 5% and is favorable to budget by 3%.
Purchased Power of $2,908,386 is more than prior year by 24% and unfavorable to budget by
22%. YTD is more than prior year by 11% and is unfavorable to budget by 10%.
Other Operating Expense of ($204,796) is due to relieving the Other Postemployment Benefits
(OPEB) liability ($208,274) due to the change from group-based medical premiums to age-based
medical premiums. With this change ERMU no longer has an OPEB liability.
Administrative Expenses of $261,511 are less than prior year by 4% and favorable to budget by
11%. YTD costs are more than prior year by 2% but favorable to budget by 3%. The main drivers
54
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Page 2 of 3
of the prior YTD variance are Dues & Subscriptions – Fees (bonding expenses) and Medical
expense (larger employer contribution to employee HSA accounts).
General Expenses of $25,707 are less than prior year by 34% and favorable to budget by 47%.
YTD costs are less than prior year by 6% and favorable to budget by 46%.
Total expenses YTD are 8% more than prior year and are unfavorable to budget by 4%. The
main driver causing the prior YTD variance is Purchased Power.
For June 2021, the Electric Department has a Net Loss of ($202,730) and YTD Net Profit of
$74,805. This is ahead of the budgeted monthly Net Loss of ($222,685) but is less than prior
year monthly Net Loss of ($189,252). YTD is behind the budgeted YTD Net Profit of $305,933
and is less than the prior YTD Net Profit of $452,091.
Water
June gallons of water sold are up 18% from the prior year. For further breakdown:
• Residential use is up 19%
• Commercial use is up 16%
Water Operating Revenues for June of $308,664 are ahead of prior year by 20% and favorable
to budget by 37%. YTD is ahead of prior year by 6% and favorable to budget by 21%.
Other Revenues of $82,874 are ahead of prior year by 59% and favorable to budget by 107%.
YTD is ahead of prior year by 40% and favorable to budget by 94%. The main driver of the YTD
variance to prior year and budget are Connection Fees.
Overall, Total Revenues of $391,538 are ahead of prior year by 26% and are ahead of prior YTD
by 15%. YTD Total Revenues are favorable to budget by 37%.
Other Operating Expense of ($44,523) is due to relieving the OPEB liability ($44,526) due to the
change from group-based medical premiums to age-based medical premiums. With this change
ERMU no longer has an OPEB liability.
Total Expenses of $250,858 are more than prior year by 6% and more than prior YTD by 17%.
YTD is unfavorable to budget by 2%. The main driver of the prior YTD variance is from
Maintenance of Structures, which is due to the transfer of the Jackson Street water tower.
For June 2021, the Water Department has a Net Profit of $140,680 and YTD Net Loss of
($99,005). This is better than the budgeted monthly Net Profit of $2,821 and better than the
prior year monthly Net Profit of $73,213. YTD is ahead of the budgeted YTD Net Loss of
($478,339) but is behind the prior YTD Net Loss of ($70,001).
ATTACHMENTS:
• Combined Balance Sheet 06.2021
55
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Page 3 of 3
• Electric Balance Sheet 06.2021
• Water Balance Sheet 06.2021
• Summary Electric Statement of Revenues, Expenses and Changes in Net Position
06.2021
• Summary Water Statement of Revenues, Expenses and Changes in Net Position 06.2021
• Graphs Prior Year and YTD 2021
• Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 06.2021
• Detailed Water Statement of Revenues, Expenses and Changes in Net Position 06.2021
56
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING JUNE 2021
ELECTRIC WATER
ASSETS
CURRENT ASSETS
CASH 8,908,58423,922,558
ACCOUNTS RECEIVABLE 339,3522,061,167
INVENTORIES 25,9521,135,107
PREPAID ITEMS 36,355221,326
CONSTRUCTION IN PROGRESS 34,3162,757,435
TOTAL CURRENT ASSETS 9,344,55930,097,594
RESTRICTED ASSETS
BOND RESERVE FUND 01,779,016
EMERGENCY RESERVE FUND 1,335,2512,827,240
UNRESTRICTED RESERVE FUND 00
TOTAL RESTRICTED ASSETS 1,335,2514,606,256
FIXED ASSETS
PRODUCTION 14,805,401788,761
LFG PROJECT 03,851,442
TRANSMISSION 02,305,024
DISTRIBUTION 23,632,64142,754,260
GENERAL 1,053,79011,387,954
FIXED ASSETS (COST)39,491,83361,087,441
LESS ACCUMULATED DEPRECIATION (20,436,974)(32,605,150)
TOTAL FIXED ASSETS, NET 19,054,85828,482,291
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY-IN 021,546,212
LOSS OF REVENUE INTANGIBLE 03,425,465
LESS ACCUMULATED AMORTIZATION 0(1,836,221)
TOTAL INTANGIBLE ASSETS, NET 023,135,457
OTHER ASSETS AND DEFERRED OUTFLOWS 46,625288,697
TOTAL ASSETS 29,781,29386,610,293
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 311,3095,348,623
SALARIES AND BENEFITS PAYABLE 122,905489,600
DUE TO CITY 1,126776,157
DUE TO OTHER FUNDS 00
NOTES PAYABLE-CURRENT PORTION 0103,308
BONDS PAYABLE-CURRENT PORTION 0185,000
UNEARNED REVENUE 201,5945,083
TOTAL CURRENT LIABILITIES 636,9336,907,771
LONG TERM LIABILITIES
OPEB LIABILITY 00
LFG PROJECT 0209,124
DUE TO COUNTY 00
BONDS PAYABLE, LESS CURRENT PORTION 2,068,02331,539,048
PENSION LIABILITIES 446,5372,791,010
TOTAL LONG TERM LIABILITIES 2,514,56034,539,182
TOTAL LIABILITIES 3,151,49341,446,953
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)(99,006)74,806
TOTAL FUND EQUITY 26,607,99345,023,180
TOTAL LIABILITIES & FUND EQUITY 29,781,29386,610,293
57
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
ELECTRIC BALANCE SHEET
Current Month
Change from
Prior MonthJune 30, 2021 May 31, 2021
ASSETS
CURRENT ASSETS
CASH 23,922,558 23,797,635 124,923
ACCOUNTS RECEIVABLE 2,061,167 1,921,080 140,088
INVENTORIES 1,135,107 1,138,920 (3,813)
PREPAID ITEMS 221,326 212,071 9,255
CONSTRUCTION IN PROGRESS 2,757,435 2,038,597 718,838
TOTAL CURRENT ASSETS 30,097,594 29,108,303 989,291
RESTRICTED ASSETS
BOND RESERVE FUND 1,779,016 1,779,016 0
EMERGENCY RESERVE FUND 2,827,240 2,822,697 4,543
TOTAL RESTRICTED ASSETS 4,606,256 4,601,712 4,543
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 42,754,260 42,695,774 58,486
GENERAL 11,387,954 11,387,954 0
FIXED ASSETS (COST)61,087,441 61,028,955 58,486
LESS ACCUMULATED DEPRECIATION (32,605,150)(32,414,156)(190,994)
TOTAL FIXED ASSETS, NET 28,482,291 28,614,799 (132,508)
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 (1,836,221)(1,780,543)(55,678)
TOTAL INTANGIBLE ASSETS, NET 23,135,457 23,191,135 (55,678)
OTHER ASSETS AND DEFERRED OUTFLOWS 288,697 288,697 0
TOTAL ASSETS 86,610,293 85,804,645 805,648
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 5,348,623 4,259,521 1,089,102
SALARIES AND BENEFITS PAYABLE 489,600 440,144 49,456
DUE TO CITY 776,157 674,106 102,052
NOTES PAYABLE-CURRENT PORTION 103,308 120,526 (17,218)
BONDS PAYABLE-CURRENT PORTION 185,000 185,000 0
UNEARNED REVENUE 5,083 5,930 (847)
TOTAL CURRENT LIABILITIES 6,907,771 5,685,227 1,222,545
LONG TERM LIABILITIES
OPEB LIABILITY 0 208,274 (208,274)
LFG PROJECT 209,124 209,124 0
BONDS PAYABLE, LESS CURRENT PORTION 31,539,048 31,544,940 (5,892)
PENSION LIABILITIES 2,791,010 2,791,010 0
TOTAL LONG TERM LIABILITIES 34,539,182 34,753,348 (214,166)
TOTAL LIABILITIES 41,446,953 40,438,574 1,008,379
DEFERRED INFLOWS OF RESOURCES 140,160 140,160 0
FUND EQUITY
CAPITAL ACCOUNT CONST COST 1,779,016 1,779,016 0
RETAINED EARNINGS 43,169,359 43,169,359 0
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)74,806 277,537 (202,731)
TOTAL FUND EQUITY 45,023,180 45,225,911 (202,731)
TOTAL LIABILITIES & FUND EQUITY 86,610,293 85,804,645 805,648
58
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
WATER BALANCE SHEET
Current Month
Change from
Prior MonthJune 30, 2021 May 31, 2021
ASSETS
CURRENT ASSETS
CASH 8,908,584 6,895,637 2,012,947
ACCOUNTS RECEIVABLE 339,352 278,331 61,021
INVENTORIES 25,952 21,439 4,513
PREPAID ITEMS 36,355 35,467 889
CONSTRUCTION IN PROGRESS 34,316 31,005 3,311
TOTAL CURRENT ASSETS 9,344,559 7,261,878 2,082,680
RESTRICTED ASSETS
EMERGENCY RESERVE FUND 1,335,251 1,334,115 1,136
TOTAL RESTRICTED ASSETS 1,335,251 1,334,115 1,136
FIXED ASSETS
PRODUCTION 14,805,401 14,805,401 0
DISTRIBUTION 23,632,641 23,632,641 0
GENERAL 1,053,790 1,053,790 0
FIXED ASSETS (COST)39,491,833 39,491,833 0
LESS ACCUMULATED DEPRECIATION (20,436,974)(20,341,655)(95,320)
TOTAL FIXED ASSETS, NET 19,054,858 19,150,178 (95,320)
INTANGIBLE ASSETS
OTHER ASSETS AND DEFERRED OUTFLOWS 46,625 46,625 0
TOTAL ASSETS 29,781,293 27,792,797 1,988,496
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 311,309 316,680 (5,371)
SALARIES AND BENEFITS PAYABLE 122,905 108,498 14,407
DUE TO CITY 1,126 1,034 92
UNEARNED REVENUE 201,594 49,452 152,141
TOTAL CURRENT LIABILITIES 636,933 475,664 161,269
LONG TERM LIABILITIES
OPEB LIABILITY 0 44,526 (44,526)
BONDS PAYABLE, LESS CURRENT PORTION 2,068,023 336,951 1,731,073
PENSION LIABILITIES 446,537 446,537 0
TOTAL LONG TERM LIABILITIES 2,514,560 828,013 1,686,547
TOTAL LIABILITIES 3,151,493 1,303,677 1,847,816
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)(99,006)(239,687)140,681
TOTAL FUND EQUITY 26,607,993 26,467,313 140,681
TOTAL LIABILITIES & FUND EQUITY 29,781,293 27,792,797 1,988,496
59
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
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 2,979,776 15,918,545 15,668,512 2,706,563 15,183,4662 534,369,210 735,078
Otsego 223,315 1,299,084 1,224,017 178,221 1,155,4086 122,745,252 143,675
Rural Big Lake 12,841 86,871 91,185 13,317 86,819(5)0196,078 51
Dayton 15,404 104,504 107,549 14,915 100,350(3)4233,388 4,154
Public St & Hwy Lighting 20,927 125,590 121,999 21,147 123,3843 2244,000 2,206
Other Electric Sales 400 2,400 2,400 400 2,4000 04,800 0
Total Operating Revenue 3,252,666 17,536,996 17,215,664 2,934,564 16,651,8292 537,792,730 885,166
Other Operating Revenue
Interest/Dividend Income 7,086 35,479 34,999 10,526 92,8131 (62)70,000 (57,333)
Customer Penalties 0 0 0 (17)42,6330 (100)0 (42,633)
LFG Project 87,481 507,767 593,153 99,722 581,656(14)(13)1,186,307 (73,888)
Connection Fees 9,250 120,200 59,000 8,800 60,598104 98145,000 59,602
Misc Revenue 117,584 496,090 313,225 68,974 352,79058 41626,451 143,299
Total Other Revenue 221,402 1,159,536 1,000,378 188,005 1,130,49016 32,027,758 29,046
Total Revenue 3,474,068 18,696,533 18,216,043 3,122,570 17,782,3193 539,820,488 914,213
Expenses
Purchased Power 2,908,386 12,683,508 11,509,858 2,349,426 11,397,59410 1125,546,479 1,285,913
Operating & Mtce Expense 27,509 137,674 144,844 12,973 120,238(5)15282,000 17,436
Landfill Gas 60,088 360,956 391,362 57,337 354,545(8)2782,725 6,410
Transmission Expense 6,406 29,518 37,000 4,377 23,345(20)2674,000 6,172
Distribution Expense 19,809 185,582 171,608 27,510 146,9778 26343,216 38,604
Maintenance Expense 83,166 648,367 695,749 101,328 636,499(7)21,331,500 11,867
Depreciation & Amortization 246,671 1,473,153 1,521,875 243,088 1,441,113(3)23,105,509 32,039
Interest Expense 74,785 315,735 288,706 50,653 306,0369 3571,390 9,698
Other Operating Expense (204,796)(160,576)16,575 2,379 15,007(1,069)(1,170)160,150 (175,583)
Customer Accounts Expense 28,623 163,214 172,000 24,723 167,083(5)(2)344,000 (3,869)
Administrative Expense 261,511 1,875,136 1,928,085 271,082 1,833,136(3)23,740,500 42,000
General Expense 25,707 157,655 290,703 39,243 167,342(46)(6)582,701 (9,686)
Total Expenses(before Operating Transfers)3,537,870 17,869,926 17,168,369 3,184,126 16,608,9214 836,864,171 1,261,004
Operating Transfer
Operating Transfer/Other Funds 119,859 640,757 626,740 108,924 611,2572 51,374,768 29,499
Utilities & Labor Donated 19,070 111,044 115,000 18,771 110,049(3)1230,000 994
Total Operating Transfer 138,929 751,801 741,740 127,696 721,3061 41,604,768 30,494
Net Income Profit(Loss)(202,730)74,805 305,933 (189,252)452,091(76)(83)1,351,548 (377,285)
60
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
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 308,664 1,016,068 838,986 257,927 954,16221 62,299,751 61,905
Total Operating Revenue 308,664 1,016,068 838,986 257,927 954,16221 62,299,751 61,905
Other Operating Revenue
Interest/Dividend Income 3,187 12,240 19,500 2,631 23,060(37)(47)39,000 (10,819)
Customer Penalties 0 0 0 0 3,8010 (100)0 (3,801)
Connection Fees 55,650 308,587 77,000 28,647 179,049301 72154,000 129,538
Misc Revenue 24,036 142,609 141,944 20,729 124,1210 15285,980 18,487
Total Other Revenue 82,874 463,437 238,444 52,008 330,03394 40478,980 133,404
Total Revenue 391,538 1,479,505 1,077,431 309,935 1,284,19537 152,778,731 195,309
Expenses
Production Expense 6,611 134,690 30,600 5,391 17,580340 66661,200 117,110
Pumping Expense 55,108 259,864 265,499 45,635 223,658(2)16531,000 36,206
Distribution Expense 34,228 135,906 142,849 25,972 96,977(5)40272,500 38,928
Depreciation & Amortization 95,319 576,354 591,591 95,111 568,069(3)11,182,604 8,285
Interest Expense 821 6,920 7,150 1,893 12,152(3)(43)13,459 (5,231)
Other Operating Expense (44,523)(45,179)750 134 2,641(6,124)(1,811)42,000 (47,821)
Customer Accounts Expense 6,010 35,257 34,249 5,656 32,2883 968,500 2,969
Administrative Expense 95,929 469,077 475,503 55,772 393,934(1)19907,289 75,143
General Expense 1,352 5,522 6,825 1,016 6,756(19)(18)13,650 (1,234)
Total Expenses(before Operating Transfers)250,858 1,578,415 1,555,020 236,584 1,354,0592 173,092,203 224,356
Operating Transfer
Utilities & Labor Donated 0 95 750 138 138(87)(30)1,500 (42)
Total Operating Transfer 0 95 750 138 138(87)(30)1,500 (42)
Net Income Profit(Loss)140,680 (99,005)(478,339)73,213 (70,001)79 (41)(314,972)(29,003)
61
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
62
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
63
-
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
64
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
65
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
0
20
40
60
80
100
120
140
160
180
Sales In DollarsSales in Million Gal.Month
Elk River Municipal Utilities Monthly Water Sales
2020 MG 2021 MG 2020 $2021 $
66
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
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 952,504 5,606,1861,039,839 5,739,5395,854,610 2 412,599,984 248,424
ELECT SALES - ELK RIVER NON-D 211,046 1,353,869235,491 1,425,6951,393,483 (2)33,009,962 39,614
ELECT SALES - ELK RIVER DEMA 1,543,012 8,223,4101,704,446 8,503,2778,670,450 2 518,759,263 447,039
2,979,776 15,918,545 15,668,512 2,706,563 15,183,4662 5Total For Elk River:34,369,210 735,078
Otsego
ELECT SALES - OTSEGO RESIDEN 87,272 548,25286,565 572,071562,429 (2)31,274,499 14,176
ELECT SALES - OTSEGO NON-DEM 26,294 155,63734,798 166,059176,899 7 14395,301 21,262
ELECT SALES - OTSEGO DEMAND 64,654 451,518101,951 485,886559,755 15 241,075,451 108,236
223,315 1,299,084 1,224,017 178,221 1,155,4086 12Total For Otsego:2,745,252 143,675
Rural Big Lake
ELECT SALES - BIG LAKE RESIDE 12,875 85,55412,336 89,90085,526 (5)0192,154 (27)
ELECT SALES - BIG LAKE NON-DE 442 1,2655041,2851,344 5 63,923 79
12,841 86,871 91,185 13,317 86,819(5)0Total For Rural Big Lake:196,078 51
Dayton
ELECT SALES - DAYTON RESIDEN 12,395 84,78612,537 91,72487,584 (5)3198,924 2,798
ELECT SALES - DAYTON NON-DE 2,520 15,5642,867 15,82416,920 7 934,464 1,356
15,404 104,504 107,549 14,915 100,350(3)4Total For Dayton:233,388 4,154
Public St & Hwy Lighting
ELECT SALES - SEC LTS 21,147 123,38420,927 121,999125,590 3 2244,000 2,206
20,927 125,590 121,999 21,147 123,3843 2Total For Public St & Hwy Lighting:244,000 2,206
Other Electric Sales
SUB-STATION CREDIT 400 2,4004002,4002,400 0 04,800 0
400 2,400 2,400 400 2,4000 0Total For Other Electric Sales:4,800 0
Total Operating Revenue
2,934,564 16,651,8293,252,666 17,215,66417,536,996 2 537,792,730 885,166
Other Operating Revenue
Interest/Dividend Income
INTEREST & DIVIDEND INCOME 10,526 92,8137,086 34,99935,479 1 (62)70,000 (57,333)
7,086 35,479 34,999 10,526 92,8131 (62)Total For Interest/Dividend Income:70,000 (57,333)
Customer Penalties
CUSTOMER DELINQUENT PENALT (17)42,6330000 (100)0 (42,633)
0 0 0 (17)42,6330 (100)Total For Customer Penalties:0 (42,633)
LFG Project 67
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
LFG PROJECT 99,722 581,65687,481 593,153507,767 (14)(13)1,186,307 (73,888)
87,481 507,767 593,153 99,722 581,656(14)(13)Total For LFG Project:1,186,307 (73,888)
Connection Fees
DISCONNECT & RECONNECT CHA 8,800 60,5989,250 59,000120,200 104 98145,000 59,602
9,250 120,200 59,000 8,800 60,598104 98Total For Connection Fees:145,000 59,602
Misc Revenue
MISC ELEC REVENUE - TEMP CHG 0 90002501,812 625 101500912
STREET LIGHT 0 16,50002,50037,800 1,412 1295,000 21,300
TRANSMISSION INVESTMENTS 41,401 189,58959,009 230,475223,465 (3)18460,951 33,876
MISC NON-UTILITY 4,569 28,33015,613 30,00044,483 48 5760,000 16,152
GAIN ON DISPOSITION OF PROPER 0 2,3170000 (100)0 (2,317)
RENTAL PROPERTY INCOME 0 7,3500000 (100)0 (7,350)
CONTRIBUTIONS FROM CUSTOME 23,004 107,80242,961 49,999188,528 277 75100,000 80,725
117,584 496,090 313,225 68,974 352,79058 41Total For Misc Revenue:626,451 143,299
Total Other Revenue
188,005 1,130,490221,402 1,000,3781,159,536 16 32,027,758 29,046
221,402 1,159,536 1,000,378 188,005 1,130,49016 3Total For Total Other Revenue:2,027,758 29,046
3,122,570 17,782,3193,474,068 18,216,043 Total Revenue 18,696,533 3 539,820,488 914,213
Expenses
Purchased Power
PURCHASED POWER 2,349,426 11,397,5942,908,386 11,509,85812,683,508 10 1125,546,479 1,285,913
2,908,386 12,683,508 11,509,858 2,349,426 11,397,59410 11Total For Purchased Power:25,546,479 1,285,913
Operating & Mtce Expense
OPERATING SUPERVISION 5,344 53,2649,685 60,49955,569 (8)4121,000 2,304
DIESEL OIL FUEL 699 3,15907,5002,022 (73)(36)15,000 (1,137)
NATURAL GAS 1,408 13,33463013,49914,172 5 627,000 838
ELECTRIC & WATER CONSUMPTI 2,034 14,2182,084 17,22013,773 (20)(3)33,000 (445)
PLANT SUPPLIES & OTHER EXPEN 343 4,7651844,9997,776 56 6310,000 3,011
MISC POWER GENERATION EXPE 704 2,6953113,4994,674 34 737,000 1,978
MAINTENANCE OF STRUCTURE -474 5,2046329,4995,310 (44)219,000 106
MTCE OF PLANT ENGINES/GENER 1,946 13,24412,892 10,00020,123 101 5220,000 6,879
MTCE OF PLANT/LAND IMPROVE 18 10,3511,087 18,12514,252 (21)3830,000 3,900
27,509 137,674 144,844 12,973 120,238(5)15Total For Operating & Mtce Expense:282,000 17,436
Landfill Gas 68
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
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 13,027 87,28814,926 91,00085,965 (6)(2)182,000 (1,322)
LANDFILL GAS PLANT OPERATIO 42,606 255,63843,229 259,362259,662 0 2518,725 4,023
LANDFILL GAS PLANT ADMINIST 156 93820828,5003,582 (87)28157,000 2,643
LANDFILL GAS PLANT INSURANC 1,525 9,1501,607 10,0009,646 (4)520,000 495
LANDFILL GAS PLANT MTCE 22 1,5281172,5002,099 (16)375,000 570
60,088 360,956 391,362 57,337 354,545(8)2Total For Landfill Gas:782,725 6,410
Transmission Expense
TRANSMISSION MTCE AND EXPE 4,377 23,3456,406 37,00029,518 (20)2674,000 6,172
6,406 29,518 37,000 4,377 23,345(20)26Total For Transmission Expense:74,000 6,172
Distribution Expense
REMOVE EXISTING SERVICE & M 829 99701,00090 (91)(91)2,000 (906)
SCADA EXPENSE 2,730 18,3105,011 21,40021,146 (1)1542,800 2,835
TRANSFORMER EXPENSE OH & U 1,076 6,6829187,9995,211 (35)(22)16,000 (1,470)
MTCE OF SIGNAL SYSTEMS 84 500581,000310 (69)(38)2,000 (190)
METER EXPENSE - REMOVE & RE 0 224218499218(56)(3)1,000 (6)
TEMP SERVICE - INSTALL & REM 0 1,279(542)1,000670 (33)(48)2,000 (609)
MISC DISTRIBUTION EXPENSE 22,791 118,98214,146 137,500157,934 15 33275,000 38,952
INTERCONNECTION CARRYING C 0 001,2070 (100)02,416 0
19,809 185,582 171,608 27,510 146,9778 26Total For Distribution Expense:343,216 38,604
Maintenance Expense
MTCE OF STRUCTURES 2,138 13,2962,493 13,75012,595 (8)(5)27,500 (701)
MTCE OF SUBSTATIONS 2,156 9,37619013,9994,051 (71)(57)28,000 (5,324)
MTCE OF SUBSTATION EQUIPME 1,004 4,8538,629 28,50034,564 21 61257,000 29,710
MTCE OF OH LINES/TREE TRIM 2,160 122,7640105,00056,907 (46)(54)150,000 (65,857)
MTCE OF OH LINES/STANDBY 3,124 15,6282,582 16,00017,456 9 1232,000 1,827
MTCE OF OH PRIMARY 19,799 78,08012,790 79,99977,341 (3)(1)160,000 (738)
MTCE OF URD PRIMARY 16,147 65,9714,614 77,50087,365 13 32155,000 21,393
LOCATE ELECTRIC LINES 10,350 38,77411,435 48,49948,906 1 2697,000 10,132
LOCATE FIBER LINES 122 2450499190(62)(23)1,000 (55)
MTCE OF LINE TRANSFORMERS 7,067 20,1262,197 22,50040,424 80 10145,000 20,298
MTCE OF STREET LIGHTING 2,927 26,7743,357 22,50010,373 (54)(61)45,000 (16,401)
MTCE OF SECURITY LIGHTING 642 2,0417054,9993,992 (20)9510,000 1,950
MTCE OF METERS 3,507 36,9734,894 42,49927,985 (34)(24)85,000 (8,988)
VOLTAGE COMPLAINTS 854 3,8441,242 4,9993,655 (27)(5)10,000 (189)
SALARIES TRANSMISSION & DIST 2,225 20,2962,230 21,49913,121 (39)(35)43,000 (7,174)69
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
ELECTRIC MAPPING 5,945 45,1404,290 49,99940,858 (18)(9)100,000 (4,281)
MTCE OF OH SECONDARY 1,510 11,7802,713 10,0008,993 (10)(24)20,000 (2,787)
MTCE OF URD SECONDARY 7,019 23,5065,719 20,50022,427 9 (5)41,000 (1,078)
TRANSPORTATION EXPENSE 12,622 97,02313,078 112,500137,156 22 41225,000 40,132
83,166 648,367 695,749 101,328 636,499(7)2Total For Maintenance Expense:1,331,500 11,867
Depreciation & Amortization
DEPRECIATION 187,410 1,107,046190,994 1,187,8081,139,085 (4)32,437,374 32,039
AMORTIZATION 55,677 334,06755,677 334,067334,067 0 0668,135 0
246,671 1,473,153 1,521,875 243,088 1,441,113(3)2Total For Depreciation & Amortization:3,105,509 32,039
Interest Expense
INTEREST EXPENSE - BONDS 54,942 331,77080,677 314,440343,072 9 3622,859 11,301
INTEREST EXPENSE - DEFEASED (276)(1,658)0 (1,658)(1,381)17 17(3,317)276
AMORTIZATION OF DEBT DISCOU (4,012)(24,075)(5,892)(24,076)(25,955)(8)8(48,152)(1,879)
74,785 315,735 288,706 306,036 9 50,653 3Total For Interest Expense:571,390 9,698
Other Operating Expense
EV CHARGING EXPENSE 1,290 2,5813002,3252,042 (12)(21)4,650 (539)
LOSS ON DISPOSITION OF PROP (C 0 553,102 6,25045,213 623 82,10712,500 45,158
OTHER DONATIONS 43 34601,5000 (100)(100)3,000 (346)
PENSION EXPENSE 0 00000 082,000 0
OPEB EXPENSE 0 0(208,273)0(208,273)0 045,000 (208,273)
INTEREST EXPENSE - METER DEP 1,045 6,319736,499441 (93)(93)13,000 (5,878)
RENTAL PROPERTY EXPENSE 0 5,7050000 (100)0 (5,705)
(204,796)(160,576)16,575 2,379 15,007(1,069)(1,170)Total For Other Operating Expense:160,150 (175,583)
Customer Accounts Expense
METER READING EXPENSE 3,647 16,9434,216 16,99920,524 21 2134,000 3,580
DISCONNECT/RECONNECT EXPEN 380 2,6461,983 7,5007,909 5 19915,000 5,263
MISC CUSTOMER ACCOUNTS EXP 20,916 135,21022,105 137,500132,107 (4)(2)275,000 (3,102)
BAD DEBT EXPENSE & RECOVER (220)12,28331810,0002,672 (73)(78)20,000 (9,610)
28,623 163,214 172,000 24,723 167,083(5)(2)Total For Customer Accounts Expense:344,000 (3,869)
Administrative Expense
SALARIES OFFICE & COMMISSION 67,290 350,62870,783 381,000404,549 6 15762,000 53,921
SALARIES COVID-19 0 160,5830021,040 0 (87)0 (139,543)
TEMPORARY STAFFING 0 001,9990 (100)04,000 0
OFFICE SUPPLIES 8,096 44,8513,727 82,50040,312 (51)(10)165,000 (4,538)
ELECTRIC & WATER CONSUMPTI 2,985 13,2942,212 15,49912,060 (22)(9)31,000 (1,233)
70
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
BANK FEES 177 1,0711901,3201,150 (13)72,640 79
LEGAL FEES 4,214 19,8202,105 16,00012,637 (21)(36)32,000 (7,182)
AUDITING FEES 1,380 7,6401,500 9,0009,000 0 1818,000 1,360
INSURANCE 12,217 92,09613,106 87,49978,639 (10)(15)175,000 (13,457)
UTILITY SHARE - DEFERRED COM 6,252 63,7297,290 58,75069,388 18 9117,500 5,658
UTILITY SHARE - MEDICAL/DENT 58,644 397,95053,496 465,367439,058 (6)10807,166 41,107
UTILITY SHARE - PERA 20,824 126,99522,449 134,970129,443 (4)2269,940 2,447
UTILITY SHARE - FICA 20,762 119,54221,519 126,325124,654 (1)4252,650 5,112
EMPLOYEE SICK PAY 8,290 64,8089,505 63,49964,838 2 0127,000 29
EMPLOYEE HOLIDAY PAY 0 49,773050,36350,134 0 1138,500 360
EMPLOYEE VACATION & PTO PA 14,951 128,37615,625 128,545122,504 (5)(5)230,000 (5,871)
UPMIC DISTRIBUTION 16,023 28,50616,386 31,00026,091 (16)(8)62,000 (2,414)
CONSULTING FEES 6,703 31,9222,600 36,10023,212 (36)(27)72,200 (8,709)
TELEPHONE 2,404 14,5832,625 15,49914,373 (7)(1)31,000 (210)
ADVERTISING 1,220 6,5447167,5007,144 (5)915,000 600
DUES & SUBSCRIPTIONS - FEES 8,716 53,5869,551 110,046166,567 51 211220,093 112,980
SCHOOLS & MEETINGS 9,050 51,5685,523 100,79754,755 (46)6198,811 3,186
MTCE OF GENERAL PLANT & OFFI 877 5,2625964,5003,579 (20)(32)9,000 (1,682)
261,511 1,875,136 1,928,085 271,082 1,833,136(3)2Total For Administrative Expense:3,740,500 42,000
General Expense
CIP REBATES - RESIDENTIAL 4,612 13,6083,320 33,52517,859 (47)3167,050 4,251
CIP REBATES - COMMERCIAL 14,088 57,0970111,10011,298 (90)(80)222,200 (45,798)
CIP - ADMINISTRATION 1,129 1,37346440,8342,869 (93)10981,668 1,496
CIP - MARKETING 1,624 7,7244,236 22,99917,747 (23)13046,000 10,023
CIP - LABOR 14,156 69,88912,830 50,04174,276 48 6100,083 4,387
CIP REBATES - LOW INCOME 0 08657,7506,635 (14)015,500 6,635
CIP - LOW INCOME LABOR 818 3,7879527,7505,435 (30)4415,500 1,647
ENVIRONMENTAL COMPLIANCE 2,415 14,3522,820 15,45215,620 1 932,200 1,267
MISC GENERAL EXPENSE 398 (491)217 1,2495,912 373 1,3042,500 6,403
25,707 157,655 290,703 39,243 167,342(46)(6)Total For General Expense:582,701 (9,686)
Total Expenses(before Operating Transfers)
3,184,126 16,608,9213,537,870 17,168,36917,869,926 4 836,864,171 1,261,004
Operating Transfer
Operating Transfer/Other Funds
TRANSFER TO CITY ELK RIVER R 108,924 611,257119,859 626,740640,757 2 51,374,768 29,49971
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETElectric
119,859 640,757 626,740 108,924 611,2572 5Total For Operating Transfer/Other Funds:1,374,768 29,499
Utilities & Labor Donated
UTILITIES & LABOR DONATED TO 18,771 110,04919,070 115,000111,044 (3)1230,000 994
19,070 111,044 115,000 18,771 110,049(3)1Total For Utilities & Labor Donated:230,000 994
Total Operating Transfer
138,929 751,801 741,740 127,696 721,3061 4Total For Total Operating Transfer:1,604,768 30,494
(189,252)452,091(202,730)305,933 Net Income Profit(Loss)74,805 (76)(83)1,351,548 (377,285)
72
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
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 155,296 589,300184,887 491,546627,331 28 61,256,746 38,031
WATER SALES COMMERCIAL 67,337 315,46678,402 304,195309,664 2 (2)800,700 (5,801)
WATER SALES IRRIGATION 35,292 49,39545,374 43,24479,071 83 60242,304 29,675
308,664 1,016,068 838,986 257,927 954,16221 6Total For Water Sales:2,299,751 61,905
Total Operating Revenue
257,927 954,162308,664 838,9861,016,068 21 62,299,751 61,905
308,664 1,016,068 838,986 257,927 954,16221 6Total For Total Operating Revenue:2,299,751 61,905
Other Operating Revenue
Interest/Dividend Income
INTEREST & DIVIDEND INCOME 2,631 23,0603,187 19,00012,240 (36)(47)38,000 (10,819)
OTHER INTEREST/MISC REVENUE 0 004990(100)01,000 0
3,187 12,240 19,500 2,631 23,060(37)(47)Total For Interest/Dividend Income:39,000 (10,819)
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 16,980 159,67649,100 55,000287,636 423 80110,000 127,960
CUSTOMER CONNECTION FEES 7,731 13,4553,885 15,00017,811 19 3230,000 4,356
BULK WATER SALES/HYDRANT R 3,936 5,9182,665 7,0003,139 (55)(47)14,000 (2,779)
55,650 308,587 77,000 28,647 179,049301 72Total For Connection Fees:154,000 129,538
Misc Revenue
RENTAL PROPERTY INCOME 0 1,8370000 (100)0 (1,837)
MISCELLANEOUS REVENUE 0 24005330 2,1250509
HYDRANT MAINTENANCE PROGR 958 5,7269745,7495,880 2 311,500 153
WATER TOWER LEASE 19,770 116,53323,061 136,194136,194 0 17274,480 19,661
24,036 142,609 141,944 20,729 124,1210 15Total For Misc Revenue:285,980 18,487
Total Other Revenue
52,008 330,03382,874 238,444463,437 94 40478,980 133,404
82,874 463,437 238,444 52,008 330,03394 40Total For Total Other Revenue:478,980 133,404
309,935 1,284,195391,538 1,077,431 Total Revenue 1,479,505 37 152,778,731 195,309
Expenses
73
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
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 5,391 17,5806,611 30,600134,690 340 66661,200 117,110
6,611 134,690 30,600 5,391 17,580340 666Total For Production Expense:61,200 117,110
Pumping Expense
SUPERVISION 3,934 27,4555,411 31,50028,774 (9)563,000 1,319
ELECTRIC & GAS UTILITIES 28,784 125,05332,253 120,000135,384 13 8240,000 10,330
SAMPLING 939 4,2808877,5005,915 (21)3815,000 1,634
CHEMICAL FEED 3,183 10,6705,777 13,99915,324 9 4428,000 4,654
MTCE OF ELECTRIC PUMPING EQ 0 000360 0036
MTCE OF WELLS 8,495 54,7979,237 87,49971,338 (18)30175,000 16,540
SCADA - PUMPING 297 1,4011,540 4,9993,090 (38)12110,000 1,689
55,108 259,864 265,499 45,635 223,658(2)16Total For Pumping Expense:531,000 36,206
Distribution Expense
MTCE OF WATER MAINS 11,787 26,2688,393 42,49940,405 (5)5485,000 14,137
LOCATE WATER LINES 954 4,5891,420 7,9998,012 0 7516,000 3,422
WATER METER SERVICE 6,167 20,76810,617 22,50023,815 6 1545,000 3,047
BACKFLOW DEVICE INSPECTION 678 6788436,6004,234 (36)52515,000 3,556
MTCE OF CUSTOMERS SERVICE 1,983 11,1712,297 12,49913,623 9 2225,000 2,451
WATER MAPPING 1,615 4,6583,600 6,0006,506 8 4012,000 1,848
MTCE OF WATER HYDRANTS - PU 1,267 3,1744,194 10,0006,592 (34)10820,000 3,417
MTCE OF WATER HYDRANTS - PR 980 1,427323,49932 (99)(98)7,000 (1,395)
WATER CLOTHING/PPE 335 5,2611,089 4,9999,578 92 8210,000 4,317
WAGES WATER 0 2,7855813,7503,221 (14)167,500 435
TRANSPORTATION EXPENSE 202 3,7961,157 7,5005,007 (33)3215,000 1,210
WATER PERMIT 0 12,396015,00014,875 (1)2015,000 2,478
34,228 135,906 142,849 25,972 96,977(5)40Total For Distribution Expense:272,500 38,928
Depreciation & Amortization
DEPRECIATION 95,111 568,06995,319 591,591576,354 (3)11,182,604 8,285
95,319 576,354 591,591 95,111 568,069(3)1Total For Depreciation & Amortization:1,182,604 8,285
Interest Expense
INTEREST EXPENSE - BONDS 1,962 12,5668217,5657,266 (4)(42)14,288 (5,300)
INTEREST EXPENSE - DEFEASED (69)(414)0 (414)(345)17 17(829)69
821 6,920 7,150 1,893 12,152(3)(43)Total For Interest Expense:13,459 (5,231)
Other Operating Expense
LOSS ON DISPOSITION OF PROP (C 0 180000 (100)0 (18)
DAM MAINTENANCE EXPENSE 100 9940499(667)(233)(167)1,000 (1,661)74
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
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 0(44,525)0(44,525)0 020,000 (44,525)
INTEREST EXPENSE - METER DEP 33 202225013(95)(94)500 (188)
RENTAL PROPERTY EXPENSE 0 1,4260000 (100)0 (1,426)
(44,523)(45,179)750 134 2,641(6,124)(1,811)Total For Other Operating Expense:42,000 (47,821)
Customer Accounts Expense
METER READING EXPENSE 189 1,0532321,2491,123 (10)72,500 69
MISC CUSTOMER ACCOUNTS EXP 5,466 31,2345,778 32,50034,134 5 965,000 2,899
BAD DEBT EXPENSE & RECOVER 0 004990(100)01,000 0
6,010 35,257 34,249 5,656 32,2883 9Total For Customer Accounts Expense:68,500 2,969
Administrative Expense
SALARIES OFFICE & COMMISSION 18,670 97,64520,270 105,499116,512 10 19211,000 18,866
SALARIES COVID-19 0 30,762001,791 0 (94)0 (28,971)
TEMPORARY STAFFING 0 004990(100)01,000 0
OFFICE SUPPLIES 2,041 9,8921,046 20,62513,506 (35)3741,250 3,614
ELECTRIC & WATER CONSUMPTI 746 3,3235534,0003,015 (25)(9)8,000 (308)
BANK FEES 44 28262349307(12)870024
LEGAL FEES 451 4,9765014,0002,749 (31)(45)8,000 (2,227)
AUDITING FEES 345 1,9103752,2502,250 0 184,500 340
INSURANCE 2,010 11,6722,130 13,00012,780 (2)926,000 1,108
UTILITY SHARE - DEFERRED COM 1,109 8,6431,365 10,0009,661 (3)1220,000 1,018
UTILITY SHARE - MEDICAL/DENT 13,007 86,93712,769 116,840103,745 (11)19208,500 16,808
UTILITY SHARE - PERA 3,427 19,9314,060 22,99923,891 4 2046,000 3,959
UTILITY SHARE - FICA 3,289 18,3853,904 22,50023,023 2 2545,000 4,637
EMPLOYEE SICK PAY 2,662 10,4971,626 15,00010,022 (33)(5)30,000 (475)
EMPLOYEE HOLIDAY PAY 0 6,956010,1819,415 (8)3528,000 2,458
EMPLOYEE VACATION & PTO PA 2,104 20,7725,023 23,09022,371 (3)840,000 1,598
UPMIC DISTRIBUTION 1,867 4,3232,992 5,2504,864 (7)1310,500 541
WELLHEAD PROTECTION 0 0020,0000 (100)020,000 0
CONSULTING FEES 1,675 7,9049,344 6,75019,299 186 14413,500 11,394
TELEPHONE 488 2,9266923,0003,201 7 96,000 274
ADVERTISING 305 4,2611793,4992,164 (38)(49)7,000 (2,096)
DUES & SUBSCRIPTIONS - FEES 907 33,06528,150 40,16070,992 77 11580,327 37,927
SCHOOLS & MEETINGS 395 7,54873224,65612,617 (49)6749,312 5,068
MTCE OF GENERAL PLANT & OFFI 219 1,3141491,350894 (34)(32)2,700 (419)75
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JUNE 2021
2021
JUNE
2020
JUNE
2021
YTD
2020
YTD
2021
YTD
BUDGET
2021 YTD
Bud Var%
2020 v. 2021
Actual Var%
YTD
VARIANCE
2021
ANNUAL
BUDGETWater
95,929 469,077 475,503 55,772 393,934(1)19Total For Administrative Expense:907,289 75,143
General Expense
CIP REBATES - RESIDENTIAL 539 1,6987742,2501,669 (26)(2)4,500 (28)
CIP REBATES - COMMERCIAL 0 1,00002500(100)(100)500 (1,000)
CIP - MARKETING 0 40121250121(51)20550081
CIP - LABOR 391 2,3124032,3502,247 (4)(3)4,700 (65)
ENVIRONMENTAL COMPLIANCE 49 1,670531,099673 (39)(60)2,200 (997)
MISC GENERAL EXPENSE 35 34062580930 2,2141,250 774
1,352 5,522 6,825 1,016 6,756(19)(18)Total For General Expense:13,650 (1,234)
Total Expenses(before Operating Transfers)
236,584 1,354,059250,858 1,555,0201,578,415 2 173,092,203 224,356
Operating Transfer
Utilities & Labor Donated
WATER & LABOR DONATED TO CI 138 138075095(87)(30)1,500 (42)
Total Operating Transfer
0 95 750 138 138(87)(30)Total For Total Operating Transfer:1,500 (42)
73,213 (70,001)140,680 (478,339) Net Income Profit(Loss)(99,005)79 (41)(314,972)(29,003)
76