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5.1 ERMUSR 12-12-2021 Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski—Finance Manager MEETING DATE: AGENDA ITEM NUMBER: December 14, 2021 5.1 SUBJECT: Financial Report—October 2021 ACTION REQUESTED: Receive the October 2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric October's electric kWh sales are down from the prior year, 6%. For further breakdown: • Residential usage is down 9% • Small Commercial usage is down 5% • Large Commercial usage is down 5% Electric Operating Revenues for October of$3,174,744 are less than prior year by 4% and unfavorable to budget by 7%. October YTD is ahead of prior year by 5% and favorable to budget by 1%.The main driver of prior YTD variance is increased usage. Other Revenues of$138,267 are less than prior year by 23% and unfavorable to budget by 22%. Other Revenues YTD are ahead of prior year by 12% and favorable to budget by 22%. Overall,Total Revenues of$3,313,012 are less than prior year by 5%and unfavorable to budget by 8%. YTD is more than prior year by 5%and is favorable to budget by 2%. Purchased Power of$2,393,971 is more than prior year by 29% and unfavorable to budget by 21%. YTD is more than prior year by 14% and is unfavorable to budget by 8%. YTD Energy Adjustment Clause charge is $1,996,120 more than prior year and $820,521 more than budget. YTD Other Operating Expense of ($153,645) is due to relieving the Other Postemployment Benefits (OPEB) liability ($208,273) due to the change from group-based medical premiums to age-based medical premiums. With this change ERMU no longer has an OPEB liability. Page 1 of 3 49 Administrative Expenses of$275,881 are more than prior year by 5% but favorable to budget by 6%. YTD costs are more than prior year by 2% but favorable to budget by 5%. The main driver of the prior YTD variance is Dues& Subscriptions—Fees (bonding expenses). General Expenses of$20,680 are less than prior year by 23% and favorable to budget by 58%. YTD costs are less than prior year by 2%and favorable to budget by 36%. Total expenses YTD are 11% more than prior year and are unfavorable to budget by 4%. The main driver causing the prior YTD variance is Purchased Power. For October 2021, the Electric Department has a Net Loss of($55,833) and YTD Net Profit of $1,186,035. This is behind the budgeted monthly Net Profit of$552,330 and is less than prior year monthly Net Profit of$676,186. YTD is behind the budgeted YTD Net Profit of$1,529,613 and is less than the prior YTD Net Profit of$2,650,559. Water October gallons of water sold are down 7%from the prior year. For further breakdown: • Residential use is down 13% • Commercial use is down 1% Water Operating Revenues for October of$256,529 are less than prior year by 4% but favorable to budget by 8%. YTD is ahead of prior year by 17% and favorable to budget by 33%. The main driver of prior YTD variance is increased usage. Other Revenues of$84,963 are more than prior year by 9%and favorable to budget by 110%. YTD is ahead of prior year by 26%and favorable to budget by 97%. The main driver of the YTD variance to prior year and budget are Connection Fees. Overall, Total Revenues of$341,493 are less than prior year by 1% but are ahead of prior YTD by 19%. YTD Total Revenues are favorable to budget by 44%. YTD Other Operating Expense of ($45,524) is due to relieving the OPEB liability ($44,525) due to the change from group-based medical premiums to age-based medical premiums. With this change ERMU no longer has an OPEB liability. YTD Administrative Expenses are more than prior year by 19% but favorable to budget by 2%. The main driver of the prior YTD variance are Dues & Subscriptions—Fees (bonding expenses). Total Expenses of$237,287 are more than prior year by 12% and more than prior YTD by 13%. YTD is unfavorable to budget by 1%.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 October 2021, the Water Department has a Net Profit of$104,206 and YTD Net Profit of $957,361. This is better than the budgeted monthly Net Profit of$36,621 but less than the prior Page 2 of 3 50 year monthly Net Profit of$133,678. YTD is significantly ahead of the budgeted YTD Net Loss of ($78,552) and is ahead of the prior YTD Net Profit of$684,911. ATTACHMENTS: • Combined Balance Sheet 10.2021 • Electric Balance Sheet 10.2021 • Water Balance Sheet 10.2021 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 10.2021 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 10.2021 • Graphs Prior Year and YTD 2021 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 10.2021 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 10.2021 Page 3 of 3 51 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING OCTOBER 2021 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 22,160,684 10,215,030 ACCOUNTS RECEIVABLE 2,213,871 357,631 INVENTORIES 906,126 20,599 PREPAID ITEMS 249,448 51,307 CONSTRUCTION IN PROGRESS 4,164,739 916,243 TOTAL CURRENT ASSETS 29,694,868 11,560,811 RESTRICTED ASSETS BOND RESERVE FUND 1,779,016 0 EMERGENCY RESERVE FUND 2,836,153 1,337,479 UNRESTRICTED RESERVE FUND 0 0 TOTAL RESTRICTED ASSETS 4,615,169 1,337,479 FIXED ASSETS PRODUCTION 788,761 14,838,371 LFG PROJECT 3,851,442 0 TRANSMISSION 2,305,024 0 DISTRIBUTION 43,984,627 23,632,641 GENERAL 11,505,515 1,070,546 FIXED ASSETS(COST) 62,435,368 39,541,558 LESS ACCUMULATED DEPRECIATION (33,360,161) (20,813,103) TOTAL FIXED ASSETS,NET 29,075,206 18,728,455 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 0 LOSS OF REVENUE INTANGIBLE 3,425,465 0 LESS ACCUMULATED AMORTIZATION (2,058,932) 0 TOTAL INTANGIBLE ASSETS,NET 22,912,745 0 OTHER ASSETS AND DEFERRED OUTFLOWS 277,001 43,701 TOTAL ASSETS 86,574,989 31,670,446 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 4,442,241 1,185,050 SALARIES AND BENEFITS PAYABLE 466,130 111,307 DUE TO CITY 862,909 2,360 DUE TO OTHER FUNDS 0 0 NOTES PAYABLE-CURRENT PORTION 34,436 0 BONDS PAYABLE-CURRENT PORTION 0 0 UNEARNED REVENUE 1,694 178,869 TOTAL CURRENT LIABILITIES 5,807.410 1,477,586 LONG TERM LIABILITIES OPEB LIABILITY 0 0 LFG PROJECT 209,124 0 DUE TO COUNTY 0 0 DUE TO CITY 175,200 43,800 BONDS PAYABLE,LESS CURRENT PORTION 31,317,675 2,016,356 PENSION LIABILITIES 2,791,010 446,537 TOTAL LONG TERM LIABILITIES 34,493,009 2,506,693 TOTAL LIABILITIES 40,300,419 3,984,278 DEFERRED INFLOWS OF RESOURCES 140,160 21,807 FUND EQUITY CAPITAL ACCOUNT CONST COST 1,779,016 0 CONTRIBUTED CAPITAL 0 0 RETAINED EARNINGS 43,169,359 26,706,999 NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 1,186,036 957,362 TOTAL FUND EQUITY 46,134,410 27,664,361 TOTAL LIABILITIES&FUND EQUITY 86,574,989 31,670,446 52 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA ELECTRIC BALANCE SHEET Current Month Change from October 31,2021 September 30,2021 Prior Month ASSETS CURRENT ASSETS CASH 22,160,684 22,421,145 (260,461) ACCOUNTS RECEIVABLE 2,213,871 3,109,860 (895,989) INVENTORIES 906,126 889,816 16,310 PREPAID ITEMS 249,448 247,061 2,387 CONSTRUCTION IN PROGRESS 4,164,739 4,214,240 (49,502) TOTAL CURRENT ASSETS 29,694,868 30,882,123 (1,187,255) RESTRICTED ASSETS BOND RESERVE FUND 1,779,016 1,779,016 0 EMERGENCY RESERVE FUND 2,836,153 2,834,025 2,128 TOTAL RESTRICTED ASSETS 4,615,169 4,613,041 2,128 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 43,984,627 43,708,417 276,210 GENERAL 11,505,515 11,454,975 50,540 FIXED ASSETS(COST) 62,435,368 62,108,618 326,749 LESS ACCUMULATED DEPRECIATION (33,360,161) (33,167,450) (192,711) TOTAL FIXED ASSETS,NET 29,075,206 28,941,168 134,038 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 (2,058,932) (2,003,255) (55,678) TOTAL INTANGIBLE ASSETS,NET 22,912,745 22,968,423 (55,678) OTHER ASSETS AND DEFERRED OUTFLOWS 277,001 277,001 0 TOTAL ASSETS 86,574,989 87,681,756 (1,106,766) LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 4,442,241 5,396,190 (953,948) SALARIES AND BENEFITS PAYABLE 466,130 593,992 (127,862) DUE TO CITY 862,909 808,073 54,835 NOTES PAYABLE-CURRENT PORTION 34,436 51,654 (17,218) UNEARNED REVENUE 1,694 2,541 (847) TOTAL CURRENT LIABILITIES 5,807,410 6,852,451 (1,045,040) LONG TERM LIABILITIES LFG PROJECT 209,124 209,124 0 DUE TO CITY 175,200 175,200 0 BONDS PAYABLE,LESS CURRENT PORTION 31,317,675 31,323,567 (5,892) PENSION LIABILITIES 2,791,010 2,791,010 0 TOTAL LONG TERM LIABILITIES 34,493,009 34,498,901 (5,892) TOTAL LIABILITIES 40,300,419 41,351,352 (1,050,932) 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) 1,186,036 1,241,870 (55,834) TOTAL FUND EQUITY 46,134,410 46,190,244 (55,834) TOTAL LIABILITIES&FUND EQUITY 86,574,989 87,681,756 (1,106,766) 53 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA WATER BALANCE SHEET Current Month Change from October 31,2021 September 30,2021 Prior Month ASSETS CURRENT ASSETS CASH 10,215,030 9,910,996 304,034 ACCOUNTS RECEIVABLE 357,631 516,258 (158,627) INVENTORIES 20,599 25,678 (5,079) PREPAID ITEMS 51,307 49,002 2,305 CONSTRUCTION IN PROGRESS 916,243 41,645 874,598 TOTAL CURRENT ASSETS 11,560,811 10,543,580 1,017,231 RESTRICTED ASSETS EMERGENCY RESERVE FUND 1,337,479 1,336,947 532 TOTAL RESTRICTED ASSETS 1,337,479 1,336,947 532 FIXED ASSETS PRODUCTION 14,838,371 14,805,401 32,970 DISTRIBUTION 23,632,641 23,632,641 0 GENERAL 1,070,546 1,070,546 0 FIXED ASSETS(COST) 39,541,558 39,508,588 32,970 LESS ACCUMULATED DEPRECIATION (20,813,103) (20,718,785) (94,318) TOTAL FIXED ASSETS,NET 18,728,455 18,789,802 (61,348) INTANGIBLE ASSETS OTHER ASSETS AND DEFERRED OUTFLOWS 43,701 43,701 0 TOTAL ASSETS 31,670,446 30,714,031 956,415 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 1,185,050 315,714 869,336 SALARIES AND BENEFITS PAYABLE 111,307 136,439 (25,131) DUE TO CITY 2,360 1,036 1,324 UNEARNED REVENUE 178,869 171,633 7,235 TOTAL CURRENT LIABILITIES 1,477,586 624,822 852,764 LONG TERM LIABILITIES DUE TO CITY 43,800 43,800 0 BONDS PAYABLE,LESS CURRENT PORTION 2,016,356 2,016,910 (554) PENSION LIABILITIES 446,537 446,537 0 TOTAL LONG TERM LIABILITIES 2,506,693 2,507,247 (554) TOTAL LIABILITIES 3,984,278 3,132,069 852,209 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) 957,362 853,156 104,206 TOTAL FUND EQUITY 27,664,361 27,560,155 104,206 TOTAL LIABILITIES&FUND EQUITY 31,670,446 30,714,031 956,415 54 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 2,890,899 29,604,065 29,337,578 34,369,210 1 3,000,536 28,431,979 1,172,086 4 Otsego 232,936 2,530,051 2,366,874 2,745,252 7 238,947 2,234,363 295,688 13 Rural Big Lake 12,802 164,612 169,329 196,078 (3) 15,572 161,260 3,352 2 Dayton 16,589 201,022 202,089 233,388 (1) 17,486 188,559 12,462 7 Public St&Hwy Lighting 21,116 209,718 203,333 244,000 3 20,929 208,318 1,399 1 Other Electric Sales 400 4,000 4,000 4,800 0 400 4,000 0 0 Total Operating Revenue 3,174,744 32,713,470 32,283,206 37,792,730 1 3,293,872 31,228,481 1,484,988 5 Other Operating Revenue Interest/Dividend Income 4,475 54,462 58,333 70,000 (7) 6,999 121,272 (66,809) (55) Customer Penalties 0 0 0 0 0 (12) 42,555 (42,555) LFG Project 81,650 857,255 988,589 1,186,307 (13) 98,919 958,297 (101,042) (11((11) ) Connection Fees 15,975 218,975 125,000 145,000 75 20,860 128,269 90,705 71 Misc Revenue 36,166 930,297 521,625 626,451 78 53,156 595,909 334,387 56 Total Other Revenue 138,267 2,060,990 1,693,548 2,027,758 22 179,923 1,846,304 214,685 12 Total Revenue 3,313,012 34,774,460 33,976,754 39,820,488 2 3,473,795 33,074,786 1,699,674 5 Expenses Purchased Power 2,393,971 23,613,485 21,808,954 25,546,479 8 1,850,324 20,660,102 2,953,382 14 Operating&Mtce Expense 13,812 202,238 231,064 282,000 (12) 19,075 178,612 23,626 13 Landfill Gas 59,637 600,487 652,270 782,725 (8) 59,374 568,189 32,298 6 Transmission Expense 4,700 53,021 61,666 74,000 (14) 4,148 39,241 13,779 35 Distribution Expense 16,587 269,707 286,013 343,216 (6) 22,753 234,127 35,579 15 Maintenance Expense 94,012 1,032,052 1,109,583 1,331,500 (7) 77,165 974,676 57,376 6 Depreciation&Amortization 248,389 2,462,840 2,563,418 3,105,509 (4) 242,443 2,409,795 53,044 2 Interest Expense 74,014 608,880 477,419 571,390 28 49,924 506,464 102,416 20 Other Operating Expense 1,142 (153,645) 27,625 160,150 (656) 1,810 21,166 (174,811) (826) Customer Accounts Expense 30,528 282,143 286,666 344,000 (2) 30,575 292,447 (10,303) (4) Administrative Expense 275,881 2,930,089 3,091,919 3,740,500 (5) 263,806 2,881,766 48,322 2 General Expense 20,680 310,183 485,368 582,701 (36) 26,738 317,487 (7,304) (2) Total Expenses(before Operating Transfers) 3,233,359 32,211,484 31,081,970 36,864,171 4 2,648,141 29,084,078 3,127,406 11 Operating Transfer Operating Transfer/Other Funds 116,306 1,190,857 1,173,503 1,374,768 1 120,691 1,143,862 46,995 4 Utilities&Labor Donated 19,180 186,082 191,666 230,000 (3) 28,776 196,286 (10,203) (5) Total Operating Transfer 135,487 1,376,939 1,365,169 1,604,768 1 149,467 1,340,148 36,791 3 Net Income Profit(Loss) (55,833) 1,186,035 1,529,613 1,351,548 (22) 676,186 2,650,559 (1,464,523) (55) 55 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 256,529 2,751,766 2,064,751 2,299,751 33 267,917 2,346,736 405,029 17 Total Operating Revenue 256,529 2,751,766 2,064,751 2,299,751 33 267,917 2,346,736 405,029 17 Other Operating Revenue Interest/Dividend Income 883 23,393 32,500 39,000 (28) 1,749 30,727 (7,334) (24) Customer Penalties 0 0 0 0 0 0 3,801 (3,801) (100) Connection Fees 59,740 522,012 128,333 154,000 307 51,867 374,879 147,133 39 Misc Revenue 24,339 239,691 238,580 285,980 0 24,299 215,754 23,937 11 Total Other Revenue 84,963 785,097 399,414 478,980 97 77,916 625,162 159,934 26 Total Revenue 341,493 3,536,863 2,464,166 2,778,731 44 345,834 2,971,899 564,964 19 Expenses Production Expense 5,321 161,086 51,000 61,200 216 6,524 43,528 117,558 270 Pumping Expense 33,996 426,831 442,499 531,000 (4) 35,086 374,247 52,583 14 Distribution Expense 28,297 252,901 230,483 272,500 10 18,813 219,931 32,970 15 Depreciation&Amortization 94,317 955,474 986,062 1,182,604 (3) 93,240 943,513 11,961 1 Interest Expense 4,483 23,934 11,356 13,459 111 1,893 19,727 4,207 21 Other Operating Expense 440 (45,524) 1,250 42,000 (3,742) 266 3,448 (48,972) (1,420) Customer Accounts Expense 6,474 60,190 57,083 68,500 5 5,327 56,044 4,145 7 Administrative Expense 63,508 732,978 750,358 907,289 (2) 50,233 616,031 116,947 19 General Expense 445 10,368 11,375 13,650 (9) 746 10,275 92 1 Total Expenses(before Operating Transfers) 237,287 2,578,242 2,541,468 3,092,203 1 212,132 2,286,749 291,493 13 Operating Transfer Utilities&Labor Donated 0 1,258 1,250 1,500 1 23 238 1,020 429 Total Operating Transfer 0 1,258 1,250 1,500 1 23 238 1,020 429 Net Income Profit(Loss) 104,206 957,361 (78,552) (314,972) 1,319 133,678 684,911 272,449 40 56 Elk River Municipal Utilities Monthly Electrical Demand 80.0 75.0 70.0 65.0 ♦ 60.0 c ♦ � m 55.0 ♦ f • 50.0 45.0 40.0 -� 35.0 �a°J�6 e��a6 ���er PQ�\ �a\ °ce �J�� PJAJyw tied•06 Goo c e�•o6 •06 F eQ O •xo� 046 Month -+-2020 - 2021 Elk River Municipal Utilities Monthly Energy Purchases 40,000 35,000 s , %, s 30,000 A25,000 --��•. ���� s u 20,000 w 15,000 oJa6 6 c,c` ce �Je�eQ s � soe se oJ� eP � P tio 4e ,`e, Oe ecoe \-\oOe Month -+-2020Y 2021 57 Elk River Municipal Utilities Monthly Total Electric Load 40,000 ---- 35,000 x 3 ♦Ilk f 30,000 ♦` I y, 0 ♦♦♦ I Mk♦ I ♦�►. i° ♦ I ♦♦♦ .; 25,000 ti-�� ♦♦ w 20,000 15,000 � 16 ak c6 �a °°e J5 ,06 ,°e .06 se (JJ �`2 P �° a key I'' �° 0° e' &Qe o Qe, Month -.- 2020 • 2021 Elk River Municipal Utilities Monthly Electric Sales $4,500,000 -- ---------_____-- $4,000,000 E $3,500,000 I ♦♦ *. I$3,000,000 A 2 o �♦ • • $2,500,000 ♦♦`� aii �o co $2,000,000 $1,500,000 $1,000,000 aco '° N .0 eF oc'�° ,e cps Fe Month P co° \49 Oe -+-•2020 -.-2021 58 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 25,000 - 20,000 7.•...".. `' •K., • c 10,000 co -a r' ea o • J 5,000 � � c a� ��e ���� J5� oe °& ° °oa a oJ `° �Cc c� � e� &)a eo Qp ' ec' Se \-\oO Month -4--2020 Residential 2021 Residential 2020 Commercial —$-2021 Commercial -d- 2020 Industrial ® �-2021 Industrial Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $2,500,000 - $2,000,000 -._ )IV--)K---...#....‘%'';.,,..„, e`a : ::::: ♦` ♦♦*. m en $500,000 �. --- $0 tezY �eQS oc �o e Oece Month ,- 2020 Residential - 2021 Residential 2020 Commercial 2021 Commercial --�>2020 Industrial —2021 2021 Industrial 59 Elk River Municipal Utilities Monthly Water Pumpage 180 - ------------- 160 CO 140 —....... � C f o 120 If �`.e I 100 If ..` . I . a) 80 - ` Cu. II ` v E 60 o III a 40 _ ��-- --- --- 20 Jack J2, ec \''9 C\# Jce )J\� Jy\ ,peg �es '0 sec )ac Few` �` ) PJ� eQ�eF O°>6 o�e� eee� 5 O Month ----2020 2021 Elk River Municipal Utilities Peak Day Pumpage 7.0 - 6.0 + 5.0 I . �� ` TS f O I `% C 4.0 I • • v o • c 3.0 —,� •• as 0 i� ♦s Y 2.0 »___ �e�r� ♦ CO w .---- a. i0 )ac 6 �' .� °e )� .c ec ec •ce ea a � o J � roJ eP a� • � .0c(` •(` �ems P 1e Oo �e °eQe 0C o e � � O Month s. -•2020 2021 60 Elk River Municipal Utilities Monthly Water Sales I 180 $600,000 160 — $500,000 140 co 120 ' ` '� $400,000 cc 0 100 -, `sue o 80 _i, �) . $300,000 0 d 60 . 1 $200,000 c co cn A c-5 S 40 -- — 20 '' $100,000 1 0 $0 6 ecJa �`Ja6 �a�6% PQ�\ �a� ,\e �J§� JAJy� ��e` �o�4§ Fie` Fie` Fe T.... eQ�e pe o e ece Month G' O 2020 MG -.2021 MG -•--2020 $ 2021 $ 61 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River ELECT SALES-ELK RIVER RESID 933,010 11,096,473 10,851,483 12,599,984 2 1,001,655 10,599,358 497,115 5 ELECT SALES-ELK RIVER NON-D 250,593 2,571,054 2,578,850 3,009,962 0 257,120 2,448,928 122,125 5 ELECT SALES-ELK RIVER DEMA 1,707,295 15,936,537 15,907,244 18,759,263 0 1,741,760 15,383,692 552,844 4 Total For Elk River: 2,890,899 29,604,065 29,337,578 34,369,210 1 3,000,536 28,431,979 1,172,086 4 Otsego ELECT SALES-OTSEGO RESIDEN 92,956 1,110,655 1,105,644 1,274,499 0 102,396 1,059,609 51,046 5 ELECT SALES-OTSEGO NON-DEM 38,802 375,738 343,002 395,301 10 39,820 321,473 54,264 17 ELECT SALES-OTSEGO DEMAND 101,177 1,043,657 918,228 1,075,451 14 96,731 853,280 190,377 22 Total For Otsego: 232,936 2,530,051 2,366,874 2,745,252 7 238,947 2,234,363 295,688 13 Rural Big Lake ELECT SALES-BIG LAKE RESIDE 12,512 160,506 165,773 192,154 (3) 15,169 157,760 2,746 2 ELECT SALES-BIG LAKE NON-DE 290 4,105 3,555 3,923 15 403 3,500 605 17 Total For Rural Big Lake: 12,802 164,612 169,329 196,078 (3) 15,572 161,260 3,352 2 Dayton ELECT SALES-DAYTON RESIDEN 13,509 168,507 172,401 198,924 (2) 14,459 159,361 9,146 6 ELECT SALES-DAYTON NON-DE 3,079 32,514 29,687 34,464 10 3,026 29,198 3,316 11 Total For Dayton: 16,589 201,022 202,089 233,388 (1) 17,486 188,559 12,462 7 Public St&Hwy Lighting ELECT SALES-SEC LTS 21,116 209,718 203,333 244,000 3 20,929 208,318 1,399 1 Total For Public St&Hwy Lighting: 21,116 209,718 203,333 244,000 3 20,929 208,318 1,399 1 Other Electric Sales SUB-STATION CREDIT 400 4,000 4,000 4,800 0 400 4,000 0 0 Total For Other Electric Sales: 400 4,000 4,000 4,800 0 400 4,000 0 0 Total Operating Revenue 3,174,744 32,713,470 32,283,206 37,792,730 1 3,293,872 31,228,481 1,484,988 5 Other Operating Revenue Interest/Dividend Income INTEREST&DIVIDEND INCOME 4,475 54,462 58,333 70,000 (7) 6,999 121,272 (66,809) (55) Total For Interest/Dividend Income: 4,475 54,462 58,333 70,000 (7) 6,999 121,272 (66,809) (55) Customer Penalties CUSTOMER DELINQUENT PENALT 0 0 0 0 0 (12) 42,555 (42,555) (100) Total For Customer Penalties: 0 0 0 0 0 (12) 42,555 (42,555) (100) LFG Project 62 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Electric OCTOBER YID BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% LFG PROJECT 81,650 857,255 988,589 1,186,307 (13) 98,919 958,297 (101,042) (11) Total ForLFG Project: 81,650 857,255 988,589 1,186,307 (13) 98,919 958,297 (101,042) (I I) Connection Fees DISCONNECT&RECONNECT CHA 15,975 218,975 125,000 145,000 75 20,860 128,269 90,705 71 Total For Connection Fees: 15,975 218,975 125,000 145,000 75 20,860 128,269 90,705 71 Misc Revenue MISC ELEC REVENUE-TEMP CHG 0 2,462 416 500 490 0 1,050 1,412 134 STREETLIGHT 0 51,590 3,750 5,000 1,276 0 20,100 31,490 157 TRANSMISSION INVESTMENTS 27,454 422,574 384,125 460,951 10 31,341 335,688 86,885 26 MISC NON-UTILITY 8,712 88,307 50,000 60,000 77 19,646 65,327 22,979 35 GAIN ON DISPOSITION OF PROPER 0 0 0 0 0 0 9,317 (9,317) (100) RENTAL PROPERTY INCOME 0 0 0 0 0 0 7,350 (7,350) (100) CONTRIBUTIONS FROM CUSTOME 0 365,363 83,333 100,000 338 2,167 157,075 208,287 133 Total For Misc Revenue: 36,166 930,297 521,625 626,451 78 53,156 595,909 334,387 56 Total Other Revenue 138,267 2,060,990 1,693,548 2,027,758 22 179,923 1,846,304 214,685 12 7'otal For'1 otal Other Revenue: 138,267 2,060,990 1,693,548 2,027,758 22 179,923 1,846,304 214,685 12 Total Revenue 3,313,012 34,774,460 33,976,754 39,820,488 2 3,473,795 33,074,786 1,699,674 5 Expenses Purchased Power PURCHASED POWER 2,393,971 23,613,485 21,808,954 25,546,479 8 1,850,324 20,660,102 2,953,382 14 Total For Purchased Power: 2,393,971 23,613,485 21,808,954 25,546,479 8 1,850,324 20,660,102 2,953,382 14 Operating&Mtce Expense OPERATING SUPERVISION 8,192 91,041 100,833 121,000 (10) 10,117 82,341 8,700 11 DIESEL OIL FUEL 798 5,360 12,500 15,000 (57) 623 5,638 (278) (5) NATURAL GAS 530 18,968 20,000 27,000 (5) 2,157 19,736 (768) (4) ELECTRIC&WATER CONSUMPTI 1,808 21,589 27,440 33,000 (21) 2,070 21,232 357 2 PLANT SUPPLIES&OTHER EXPEN 36 9,921 8,333 10,000 19 401 8,684 1,236 14 MISC POWER GENERATION EXPE 272 5,976 5,833 7,000 2 369 5,274 702 13 MAINTENANCE OF STRUCTURE- 999 9,434 15,833 19,000 (40) 2,182 9,642 (208) (2) MTCE OF PLANT ENGINES/GENER 683 22,898 16,666 20,000 37 693 15,120 7,778 51 MTCE OF PLANT/LAND IMPROVE 490 17,048 23,625 30,000 (28) 458 10,942 6,105 56 Total For Operating&Mtce Expense: 13,812 202,238 231,064 282,000 (12) 19,075 178,612 23,626 13 Landfill Gas 63 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% LANDFILL GAS PLANT PURCHASE 14,389 144,643 151,666 182,000 (5) 14,924 147,680 (3,036) (2) LANDFILL GAS PLANT OPERATIO 43,229 432,578 432,270 518,725 0 42,606 401,686 30,892 8 LANDFILL GAS PLANT ADMINIST 277 4,552 47,500 57,000 (90) 156 1,564 2,987 191 LANDFILL GAS PLANT INSURANC 1,623 16,141 16,666 20,000 (3) 1,607 15,581 559 4 LANDFILL GAS PLANT MTCE 117 2,570 4,166 5,000 (38) 79 1,676 894 53 Total For Landfill Gas: 59,637 600,487 652,270 782,725 (8) 59.374 568,189 32,298 6 Transmission Expense TRANSMISSION MTCE AND EXPE 4.700 53,021 61,666 74.000 (14) 4.148 39,241 13,779 35 Total For Transmission Expense: 4.700 53,021 61,666 74,000 (14) 4.148 39,241 13,779 35 Distribution Expense REMOVE EXISTING SERVICE&M 0 397 1,666 2,000 (76) 0 1,651 (1,253) (76) SCADA EXPENSE 2972 34,682 35,666 42,800 (3) 2,976 34,049 632 2 TRANSFORMER EXPENSE OH&U 730 8,654 13,333 16,000 (35) 974 10,472 (1,817) (17) MTCE OF SIGNAL SYSTEMS 0 954 1,666 2,000 (43) 229 1,600 (646) (40) METER EXPENSE-REMOVE&RE 0 1,163 833 1,000 40 351 828 335 41 TEMP SERVICE-INSTALL&REM 64 1,787 1,666 2,000 7 712 2,076 (289) (14) MISC DISTRIBUTION EXPENSE 12,820 222,067 229,166 275,000 (3) 17.508 183,449 38,618 21 INTERCONNECTION CARRYING C 0 0 2,013 2,416 (100) 0 0 0 0 Total For Distribution Expense: 16.587 269,707 286,013 343,216 (6) 22,753 234,127 35,579 15 Maintenance Expense MTCE OF STRUCTURES 2,170 21,121 22,916 27,500 (8) 2,227 22,163 (1,041) (5) MTCE OF SUBSTATIONS 0 11,684 23,333 28,000 (50) 1,237 19,037 (7,353) (39) MTCE OF SUBSTATION EQUIPME 6,718 65,744 47,500 57,000 38 2,718 13,186 52,558 399 MTCE OF OH LINES/TREE TRIM 0 57,763 125,000 150,000 (54) 210 123,195 (65,432) (53) MTCE OF OH LINES/STANDBY 2,980 30,390 26,666 32,000 14 2,407 26,056 4,333 17 MTCE OF OH PRIMARY 17,190 130,865 133,333 160,000 (2) 12,101 130,009 856 1 MTCE OF URD PRIMARY 17,438 153,941 129,166 155,000 19 7,732 114,474 39,466 34 LOCATE ELECTRIC LINES 8,443 88,599 80,833 97,000 10 9,519 78,759 9,839 12 LOCATE FIBER LINES 7 277 833 1,000 (67) 146 884 (606) (69) MTCE OF LINE TRANSFORMERS 3,397 48,293 37,500 45,000 29 193 24,612 23,681 96 MTCE OF STREET LIGHTING 1,703 12,282 37,500 45,000 (67) 392 36,139 (23,856) (66) MTCE OF SECURITY LIGHTING 1,984 10,760 8,333 10,000 29 1,452 8,006 2,754 34 MTCE OF METERS 5,000 52,768 70,833 85,000 (26) 8,710 62,074 (9,305) (15) VOLTAGE COMPLAINTS 0 7,049 8,333 10,000 (15) 822 6,291 757 12 SALARIES TRANSMISSION&DIST 1,968 21,593 35,833 43,000 (40) 2,388 28,876 (7,282) (25) 64 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% ELECTRIC MAPPING 5,519 66,082 83,333 100,000 (21) 4,726 67,923 (1,840) (3) MTCE OF OH SECONDARY 1,154 17,723 16,666 20,000 6 4,054 19,387 (1,664) (9) MTCE OF URD SECONDARY 3.421 40,515 34,166 41,000 19 446 38,015 2,499 7 TRANSPORTATION EXPENSE 14,911 194,594 187,500 225,000 4 15,676 155,582 39,012 25 Total For Maintenance Expense: 94,012 1,032,052 1,109,583 1,331,500 (7) 77,165 974,676 57,376 6 Depreciation&Amortization DEPRECIATION 192,711 1,906,061 2,006,639 2,437,374 (5) 186,766 1,853,016 53,044 3 AMORTIZATION 55,677 556,779 556,779 668,135 0 55,677 556,779 0 0 Total For Depreciation&Amortization: 248,389 2,462,840 2,563,418 3,105,509 (4) 242,443 2,409,795 53,044 2 Interest Expense INTEREST EXPENSE-BONDS 79.906 658,682 520,309 622,859 27 54,213 549,354 109,327 20 INTEREST EXPENSE-DEFEASED 0 (276) (2,764) (3,317) 90 (276) (2,763) 2,487 90 AMORTIZATION OF DEBT DISCOU (5,892) (49,524) (40,126) (48,152) (23) (4,012) (40,126) (9,398) (23) Total For Interest Expense: 74.014 608,880 477,419 571,390 (28) 49,924 506,464 102,416 20 Other Operating Expense EV CHARGING EXPENSE 337 3,337 3,875 4,650 (14) 295 3,671 (333) (9) LOSS ON DISPOSITION OF PROP(C 0 45,213 10,416 12,500 334 0 55 45,158 82,107 OTHER DONATIONS 0 918 2,500 3,000 (63) 410 1,107 (189) (17) MUTUAL AID 0 6,860 0 0 0 0 0 6,860 0 PENSION EXPENSE 0 0 0 82,000 0 0 0 0 0 OPEB EXPENSE 0 (208,273) 0 45,000 0 0 0 (208,273) 0 OTHER INTEREST EXPENSE 730 (2,440) 0 0 0 0 0 (2,440) 0 INTEREST EXPENSE-METER DEP 75 738 10,833 13,000 (93) 1,104 10,627 (9,888) (93) RENTAL PROPERTY EXPENSE 0 0 0 0 0 0 5,705 (5,705) (100) Total For Other Operating Expense: 1.142 (153,645) 27,625 160,150 (656) 1,810 21,166 (174,811) (826) Customer Accounts Expense METER READING EXPENSE 4,140 37,303 28,333 34,000 32 3,993 31,707 5,596 18 DISCONNECT/RECONNECT EXPEN 1,463 14,434 12,500 15,000 15 1,048 7,116 7,318 103 MISC CUSTOMER ACCOUNTS EXP 23,986 224,486 229,166 275,000 (2) 22,443 234,085 (9,598) (4) BAD DEBT EXPENSE&RECOVER 937 5,918 16,666 20,000 (64) 3,090 19,538 (13,619) (70) Total For Customer Accounts Expense: 30,528 282,143 286,666 344,000 (2) 30,575 292,447 (10,303) (4) Administrative Expense SALARIES OFFICE&COMMISSION 67,035 671,031 635,000 762,000 6 65,251 602,880 68,151 11 SALARIES COVID-19 0 21,040 0 0 0 0 160,583 (139,543) (87) TEMPORARY STAFFING 0 0 3,333 4,000 (100) 0 0 0 0 65 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% OFFICE SUPPLIES 7,159 59,995 137,500 165,000 (56) 5,738 101,519 (41,524) (41) ELECTRIC&WATER CONSUMPTI 1,953 21,050 25,833 31,000 (19) 2,031 22,165 (1,114) (5) BANK FEES 178 1,880 2,200 2,640 (14) 175 1,869 11 1 LEGAL FEES 2,006 19,396 26,666 32,000 (27) 1,648 29,038 (9,641) (33) AUDITING FEES 1,413 14,133 15,000 18,000 (6) 1,380 13,160 973 7 INSURANCE 13,262 131,102 145,833 175,000 (10) 13,106 144,003 (12,901) (9) UTILITY SHARE-DEFERRED COM 6,423 94,367 97,916 117,500 (4) 4,548 83,686 10,681 13 UTILITY SHARE-MEDICAL/DENT 54,663 653,336 693,233 807,166 (6) 57,549 626,077 27,258 4 UTILITY SHARE-PERA 21,921 219,525 224,950 269,940 (2) 20,720 209,805 9,719 5 UTILITY SHARE-FICA 20,575 210,756 210,541 252,650 0 18,897 196,320 14,436 7 EMPLOYEE SICK PAY 15,801 111,404 105,833 127,000 5 11,424 101,764 9,640 9 EMPLOYEE HOLIDAY PAY 0 76,147 75,545 138,500 1 0 73,979 2,167 3 EMPLOYEE VACATION&PTO PA 24.084 194,196 196,181 230,000 (1) 23,106 193,262 933 0 UPMIC DISTRIBUTION 0 42,540 46,500 62,000 (9) 0 42,118 422 1 CONSULTING FEES 1,850 30,746 60,166 72,200 (49) 3,094 50,768 (20,021) (39) TELEPHONE 2,822 25,700 25,833 31,000 (1) 2,408 24,177 1,523 6 ADVERTISING 2,040 11,884 12,500 15,000 (5) 500 9,495 2,389 25 DUES&SUBSCRIPTIONS-FEES 9,613 207,336 183,411 220,093 13 10,559 92,237 115,098 125 SCHOOLS&MEETINGS 22,479 106,550 160,440 198,811 (34) 20,787 94,084 12,466 13 MTCE OF GENERAL PLANT&OFFI 596 5,965 7,500 9,000 (20) 877 8,770 (2,804) (32) Total For Administrative Expense: 275,881 2,930,089 3,091,919 3,740,500 (5) 263,806 2,881,766 48,322 2 General Expense CIP REBATES-RESIDENTIAL 3,529 36,075 55,875 67,050 (35) 5.614 33,943 2,131 6 CIP REBATES-COMMERCIAL 0 75,332 185,166 222,200 (59) 636 111,961 (36,628) (33) CIP-ADMINISTRATION 424 4,569 68,056 81,668 (93) 464 3,488 1,081 31 CIP-MARKETING 1,315 23,790 38,333 46,000 (38) 594 14,375 9,415 66 CIP-LABOR 12,031 121,704 83,402 100,083 46 15,459 121,431 272 0 CIP REBATES-LOW INCOME 0 6,635 12,916 15,500 (49) 0 0 6,635 0 CIP-LOW INCOME LABOR 919 8,789 12,916 15,500 (32) 972 7,235 1,553 21 ENVIRONMENTAL COMPLIANCE 2,456 27,358 26,617 32,200 3 2.516 25,108 2,250 9 MISC GENERAL EXPENSE 3 5,928 2,083 2,500 185 479 (55) 5,983 10,686 Total For General Expense: 20,680 310,183 485,368 582,701 (36) 26,738 317,487 (7,304) (2) Total Expenses(before Operating Transfers) 3,233,359 32,211,484 31.081,970 36,864,171 4 2.648,141 29,084,078 3,127,406 11 Operating Transfer 66 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R 116,306 1,190,857 1,173,503 1,374,768 1 120,691 1,143,862 46,995 4 Total For Operating Transfer/Other Funds: 116,306 1,190,857 1,173,503 1,374,768 1 120,691 1,143,862 46,995 4 Utilities&Labor Donated UTILITIES&LABOR DONATED TO 19,180 186,082 191,666 230,000 (3) 28,776 196,286 (10,203) (5) Total For Utilities&Labor Donated: 19,180 186,082 191,666 230,000 (3) 28,776 196,286 (10,203) (5) Total Operating Transfer Total For Total Operating Transfer: 135,487 1,376,939 1,365,169 1,604,768 1 149,467 1,340,148 36,791 3 Net Income Profit(Loss) (55,833) 1,186,035 1,529,613 1,351,548 (22) 676,186 2,650,559 (1,464,523) (55) 67 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales WATER SALES RESIDENTIAL 128,780 1,586,135 1,118,004 1,256,746 42 141,365 1,340,340 245,795 18 WATER SALES COMMERCIAL 96,452 816,373 713,173 800,700 14 95,858 739,599 76,774 10 WATER SALES IRRIGATION 31,296 349,257 233,574 242,304 50 30,693 266,796 82,460 31 Total For Water Sales: 256,529 2,751,766 2,064,751 2,299,751 33 267,917 2,346,736 405,029 17 Total Operating Revenue 256,529 2,751,766 2,064,751 2,299,751 33 267,917 2,346,736 405,029 17 Total For Total Operating Revenue: 256,529 2,751,766 2,064,751 2,299,751 33 267,917 2,346,736 405,029 17 Other Operating Revenue Interest/Dividend Income INTEREST&DIVIDEND INCOME 883 22,711 31,666 38,000 (28) 1,749 30,175 (7,463) (25) OTHER INTEREST/MISC REVENUE 0 681 833 1,000 (18) 0 552 129 23 Total For Interest/Dividend Income: 883 23,393 32,500 39,000 (28) 1,749 30,727 (7,334) (24) Customer Penalties CUSTOMER PENALTIES 0 0 0 0 0 0 3,801 (3,801) (100) Total For Customer Penalties: 0 0 0 0 0 0 3,801 (3,801) (100) Connection Fees WATER/ACCESS/CONNECTION FE 53,091 474,775 91,666 110,000 418 49.839 336,619 138,155 41 CUSTOMER CONNECTION FEES 5,016 36,804 25,000 30,000 47 1.851 24,044 12,760 53 BULK WATER SALES/HYDRANT R 1,632 10,432 11,666 14,000 (11) 176 14,215 (3,783) (27) Total For Connection Fees: 59,740 522,012 128,333 154,000 307 51.867 374,879 147,133 39 Misc Revenue MISC NON-UTILITY 0 31 0 0 0 0 55 (24) (44) RENTAL PROPERTY INCOME 0 0 0 0 0 0 1,837 (1,837) (100) GAIN ON DISPOSITION OF PROPER 0 0 0 0 0 0 3,525 (3,525) (100) MISCELLANEOUS REVENUE 0 882 0 0 0 0 24 858 3,575 HYDRANT MAINTENANCE PROGR 975 9,780 9,583 11,500 2 1,784 11,708 (1,928) (16) WATER TOWER LEASE 23,364 228,997 228,997 274,480 0 22,514 198,603 30,394 15 Total For Misc Revenue: 24,339 239,691 238,580 285,980 0 24,299 215,754 23,937 11 Total Other Revenue 84,963 785,097 399,414 478,980 97 77,916 625,162 159,934 26 Total For Total Other Revenue: 84,963 785,097 399,414 478,980 97 77,916 625,162 159,934 26 68 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Total Revenue 341,493 3,536,863 2,464,166 2,778,731 44 345,834 2,971,899 564,964 19 Expenses Production Expense MICE OF STRUCTURES 5,321 161,086 51,000 61,200 216 6,524 43,528 117,558 270 Total For Production Expense: 5,321 161,086 51,000 61,200 216 6,524 43,528 117,558 270 Pumping Expense SUPERVISION 4,852 47,559 52,500 63,000 (9) 5,041 44,013 3,546 8 ELECTRIC&GAS UTILITIES 15,859 224,780 200,000 240.000 12 17,360 210,077 14,703 7 SAMPLING 1,551 11,287 12,500 15,000 (10) 828 9,336 1,950 21 CHEMICAL FEED 1,272 32,608 23,333 28,000 40 1,286 21,647 10,960 51 MTCE OF ELECTRIC PUMPING EQ 0 161 0 0 0 0 0 161 0 MTCE OF WELLS 10,038 105,674 145,833 175,000 (28) 10,376 87,053 18,621 21 SCADA-PUMPING 422 4,759 8,333 10,000 (43) 193 2,117 2,641 125 Total For Pumping Expense: 33,996 426,831 442,499 531,000 (4) 35,086 374,247 52,583 14 Distribution Expense MTCE OF WATER MAINS 8,034 92,658 70,833 85,000 31 5,729 101,982 (9,323) (9) LOCATE WATER LINES 2,099 14,397 13,333 16,000 8 1,375 10,011 4,386 44 WATER METER SERVICE 7,879 51,553 37,500 45,000 37 2,458 29,997 21,555 72 INSTALL&MTCE IRRIGATION ME 0 0 0 0 0 31 31 (31) (100) BACKFLOW DEVICE INSPECTION 975 7,276 13,400 15,000 (46) 678 3,391 3,884 115 MTCE OF CUSTOMERS SERVICE 2,435 23,648 20,833 25,000 14 2,130 20,160 3,487 17 WATER MAPPING 385 7,614 10,000 12,000 (24) 1,061 7,031 582 8 MTCE OF WATER HYDRANTS-PU 1,220 11,704 16,666 20,000 (30) 1,449 8,235 3,468 42 MTCE OF WATER HYDRANTS-PR 1,555 3,135 5,833 7,000 (46) 731 4,594 (1,458) (32) WATER CLOTHING/PPE 2,080 12,026 8,333 10,000 44 1,373 8,944 3,082 34 WAGES WATER 467 5,231 6,250 7,500 (16) 586 3,901 1,329 34 TRANSPORTATION EXPENSE 1,163 8,780 12,500 15,000 (30) 1,208 9,253 (472) (5) WATER PERMIT 0 14,875 15,000 15,000 (1) 0 12,396 2,478 20 Total For Distribution Expense: 28,297 252,901 230,483 272,500 10 18,813 219,931 32,970 15 Depreciation&Amortization DEPRECIATION 94,317 955.474 986,062 1,182,604 (3) 93,240 943,513 11,961 1 Total For Depreciation&Amortization: 94,317 955,474 986,062 1,182,604 (3) 93,240 943,513 11,961 1 Interest Expense INTEREST EXPENSE-BONDS 5,037 26,220 12,047 14,288 118 1,962 20,418 5,802 28 INTEREST EXPENSE-DEFEASED 0 (69) (691) (829) 90 (69) (691) 621 90 69 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% AMORTIZATION OF DEBT DISCOU (554) (2,216) 0 0 0 0 0 (2,216) 0 Total For Interest Expense: 4,483 23,934 11,356 13,459 111 1,893 19.727 4,207 21 Other Operating Expense LOSS ON DISPOSITION OF PROP(C 0 0 0 0 0 0 18 (18) (100) DAM MAINTENANCE EXPENSE 256 (411) 833 1,000 (149) 231 1,663 (2,075) (125) PENSION EXPENSE 0 0 0 20,500 0 0 0 0 0 OPEB EXPENSE 0 (44,525) 0 20,000 0 0 0 (44,525) 0 OTHER INTEREST EXPENSE 182 (609) 0 0 0 0 0 (609) 0 INTEREST EXPENSE-METER DEP 2 22 416 500 (95) 34 339 (317) (94) RENTAL PROPERTY EXPENSE 0 0 0 0 0 0 1,426 (1,426) (100) Total For Other Operating Expense: 440 (45,524) 1,250 42,000 (3,742) 266 3,448 (48,972) (1,420) Customer Accounts Expense METER READING EXPENSE 190 1,937 2,083 2,500 (7) 201 1.774 162 9 MISC CUSTOMER ACCOUNTS EXP 6.284 58,252 54,166 65,000 8 5.125 54.270 3,982 7 BAD DEBT EXPENSE&RECOVER 0 0 833 1,000 (100) 0 0 0 0 Total For Customer Accounts Expense: 6,474 60,190 57,083 68,500 5 5,327 56,044 4,145 7 Administrative Expense SALARIES OFFICE&COMMISSION 19.322 194,040 175,833 211,000 10 18,498 169,045 24,995 15 SALARIES COVID-19 0 1,791 0 0 0 0 30,762 (28,971) (94) TEMPORARY STAFFING 0 0 833 1,000 (100) 0 0 0 0 OFFICE SUPPLIES 3,749 21,881 34,375 41,250 (36) 1,189 24,494 (2,613) (11) ELECTRIC&WATER CONSUMPTI 488 5,262 6,666 8,000 (21) 508 5.541 (278) (5) BANK FEES 44 482 583 700 (17) 43 483 0 0 LEGAL FEES 501 4,301 6,666 8,000 (35) 412 6,950 (2,649) (38) AUDITING FEES 353 3,533 3,750 4,500 (6) 345 3,290 243 7 INSURANCE 2,217 21,290 21,666 26,000 (2) 2,130 20,253 1,036 5 UTILITY SHARE-DEFERRED COM 1,629 15,538 16,666 20,000 (7) 699 11,660 3,878 33 UTILITY SHARE-MEDICAL/DENT 14,070 161,905 177,946 208,500 (9) 10,795 129,439 32,465 25 UTILITY SHARE-PERA 4,138 40,802 38,333 46,000 6 3,569 32,999 7,803 24 UTILITY SHARE-FICA 3,901 39,191 37,500 45,000 5 3,422 31,368 7,822 25 EMPLOYEE SICK PAY 2,782 20,358 25,000 30,000 (19) 1,308 16,196 4,162 26 EMPLOYEE HOLIDAY PAY 0 14,309 15,272 28,000 (6) 0 10,602 3,706 35 EMPLOYEE VACATION&PTO PA 3,998 34,967 34,362 40,000 2 2,693 30,822 4,144 13 UPMIC DISTRIBUTION 0 8,010 7,875 10,500 2 0 6,193 1,817 29 WELLHEAD PROTECTION 0 1,888 20,000 20,000 (91) 0 0 1.888 0 70 ELK RIVER MUNICIPAL UTILITIES ELK RIVER,MINNESOTA STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2021 2021 2021 2021 2021 YTD ANNUAL 2021 YTD 2020 2020 YTD 2020 v.2021 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% CONSULTING FEES 0 19,299 11,250 13,500 72 663 12,505 6,793 54 TELEPHONE 695 5,992 5,000 6,000 20 467 4,697 1,295 28 ADVERTISING 510 3,349 5,833 7,000 (43) 125 5,201 (1,851) (36) DUES&SUBSCRIPTIONS-FEES 1,215 90,430 61,600 80,327 47 1,443 51,066 39,364 77 SCHOOLS&MEETINGS 3,740 22,860 41,093 49,312 (44) 1,700 10,266 12,593 123 MTCE OF GENERAL PLANT&OFFI 149 1,491 2,250 2,700 (34) 219 2,190 (698) (32) Total For Administrative Expense: 63,508 732,978 750,358 907,289 (2) 50,233 616,031 116,947 19 General Expense CIP REBATES-RESIDENTIAL 25 4,864 3,750 4,500 30 287 3,680 1,184 32 CIP REBATES-COMMERCIAL 0 0 416 500 (100) 0 1,000 (1,000) (100) CIP-MARKETING 0 121 416 500 (71) 0 40 81 205 CIP-LABOR 372 3,714 3,916 4,700 (5) 410 3,692 22 1 ENVIRONMENTAL COMPLIANCE 48 857 1,833 2,200 (53) 48 1,849 (991) (54) MISC GENERAL EXPENSE 0 809 1,041 1,250 (22) 0 12 797 6,650 Total For General Expense: 445 10,368 11,375 13,650 (9) 746 10.275 92 1 Total Expenses(beforc Operating Transfers) 237,287 2,578,242 2,541,468 3,092,203 1 212,132 2.286,749 291,493 13 Operating Transfer Utilities&Labor Donated WATER&LABOR DONATED TO CI 0 1,258 1,250 1,500 1 23 238 1,020 429 Total Operating Transfer Total For Total Operating Transfer: 0 1,258 1,250 1,500 1 23 238 1,020 429 Net Income Profit(Loss) 104.206 957,361 (78,552) (314,972) 1,319 133,678 684,911 272,449 40 71