5.2 ERMUSR 09-13-2022______________________________________________________________________________
Page 1 of 3
UTILITIES COMMISSION MEETING
TO:
ERMU Commission
FROM:
Melissa Karpinski – Finance Manager
MEETING DATE:
September 13, 2022
AGENDA ITEM NUMBER:
5.2
SUBJECT:
Financial Report – July 2022
ACTION REQUESTED:
Receive the July 2022 Financial Report
DISCUSSION:
Please note that these are the preliminary unaudited financial statements.
Electric
July’s electric kWh sales are down from the prior year, 8% (error in July 2021 Large Commercial
billing with adjustment done in August 2021 – factoring in adjustment usage would be down
14%). For further breakdown:
• Residential usage is down 19%
• Small Commercial usage is down 16%
• Large Commercial usage is up 2% (error in July 2021 billing with adjustment done in
August 2021 – factoring in adjustment usage would be down 10%)
Electric Operating Revenues for July of $4,204,173 are more than prior year by 1% but
unfavorable to budget by 3%. July YTD is more than prior year by 10% and favorable to budget
by 6%. The prior YTD variance and budget YTD variance is mainly due to PCA revenue.
Other Revenues of $264,738 are less than the prior year by 4% but favorable to budget by 30%.
Other Revenues YTD are less than the prior year by 7% and unfavorable to budget by 5%. The
main driver of prior YTD variance and budget YTD variance is Interest & Dividend Income.
Overall, Total Revenues of $4,468,911 are more than the prior year by less than 1% but
unfavorable to budget by 1%. YTD is more than the prior year by 9% and favorable to budget by
6%.
Purchased Power of $3,512,076 is more than the prior year by 13% and is unfavorable to
budget by 12%. YTD is more than prior year by 16% and unfavorable to budget by 18%. YTD EAC
charge is $2,405,957 more than prior year and $2,530,369 more than budget. EAC charge is
partially offset by PCA revenue.
62
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Page 2 of 3
Administrative Expenses of $265,834 are more than the prior year by 9% but favorable to
budget by 9%. YTD costs are more than the prior year by 2% but are favorable to budget by 4%.
General Expenses of $28,463 are less than prior year by 50% and are favorable to budget by
42%. YTD costs are more than the prior year by 7% but are still favorable to budget by 33%.
Total expenses YTD are 14% more than prior year and are unfavorable to budget by 11%. The
main driver causing the prior YTD variance and budget YTD variance is Purchased Power
(majority of other expenses are favorable to budget).
For July 2022, the Electric Department has a Net Loss of ($67,466) and YTD Net Loss of
($649,788). This is behind the budgeted monthly Net Profit of $296,811 and is behind the prior
year monthly Net Profit of $318,762. YTD is behind the budgeted YTD Net Profit of $575,450
and is less than the prior YTD Net Profit of $393,568.
Water
July gallons of water sold are down 25% from the prior year. For further breakdown:
• Residential use is down 28%
• Commercial use is down 19%
Water Operating Revenues for July of $431,002 are less than prior year by 25% but are in line
with budget. YTD is less than prior year by 12% but favorable to budget by 5%.
Other Revenues of $441,866 are more than prior year by 343% and favorable to budget by
489%. YTD is more than prior YTD by 143% and favorable to budget by 163%. The main driver
causing the prior YTD variance and budget YTD variance is Connection Fees.
Overall, Total Revenues of $872,868 are more than prior year by 30% and more than prior YTD
by 28%. YTD Total Revenues are favorable to budget by 50%.
Total Expenses of $254,140 are less than prior year by 3% and less than the prior YTD by 1%.
YTD is favorable to budget by 3%.
For July 2022, the Water Department has a Net Profit of $618,728 and YTD Net Profit of
$951,010. This is ahead of the budgeted monthly Net Profit of $251,533 and ahead of prior year
monthly Net Profit of $409,284. YTD is ahead of the budgeted YTD Net Loss of ($20,887) and is
ahead of the prior YTD Net Profit of $310,279.
ATTACHMENTS:
• Balance Sheet 07.2022
• Electric Balance Sheet 07.2022
• Water Balance Sheet 07.2022
• Summary Electric Statement of Revenues, Expenses and Changes in Net Position
07.2022
63
______________________________________________________________________________
Page 3 of 3
• Summary Water Statement of Revenues, Expenses and Changes in Net Position 07.2022
• Graphs Prior Year and YTD 2022
• Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 07.2022
• Detailed Water Statement of Revenues, Expenses and Changes in Net Position 07.2022
64
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING JULY 2022
ELECTRIC WATER
ASSETS
CURRENT ASSETS
CASH 9,337,22812,305,240
ACCOUNTS RECEIVABLE 502,1854,552,720
INVENTORIES 17,0951,234,045
PREPAID ITEMS 37,310215,787
CONSTRUCTION IN PROGRESS 924,30211,470,058
TOTAL CURRENT ASSETS 10,818,12029,777,849
RESTRICTED ASSETS
BOND RESERVE FUND 01,779,016
EMERGENCY RESERVE FUND 1,343,0292,858,354
UNRESTRICTED RESERVE FUND 00
TOTAL RESTRICTED ASSETS 1,343,0294,637,370
FIXED ASSETS
PRODUCTION 14,897,830788,761
LFG PROJECT 03,851,442
TRANSMISSION 02,305,024
DISTRIBUTION 25,751,34245,622,954
GENERAL 1,071,73211,949,063
FIXED ASSETS (COST)41,720,90464,517,243
LESS ACCUMULATED DEPRECIATION (21,635,576)(34,994,867)
TOTAL FIXED ASSETS, NET 20,085,32829,522,376
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY-IN 021,546,212
LOSS OF REVENUE INTANGIBLE 04,349,653
LESS ACCUMULATED AMORTIZATION 0(2,560,034)
TOTAL INTANGIBLE ASSETS, NET 023,335,831
OTHER ASSETS AND DEFERRED OUTFLOWS 266,9641,431,143
TOTAL ASSETS 32,513,44288,704,568
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 530,2776,462,212
SALARIES AND BENEFITS PAYABLE 137,352571,995
DUE TO CITY 1,830912,126
DUE TO OTHER FUNDS 00
NOTES PAYABLE-CURRENT PORTION 087,135
BONDS PAYABLE-CURRENT PORTION 50,000345,000
UNEARNED REVENUE 185,5735,395
TOTAL CURRENT LIABILITIES 905,0328,383,862
LONG TERM LIABILITIES
OPEB LIABILITY 00
LFG PROJECT 00
DUE TO COUNTY 00
DUE TO CITY 22,68090,720
BONDS PAYABLE, LESS CURRENT PORTION 1,691,36830,215,067
PENSION LIABILITIES 369,9881,978,758
TOTAL LONG TERM LIABILITIES 2,084,03632,284,545
TOTAL LIABILITIES 2,989,06840,668,407
DEFERRED INFLOWS OF RESOURCES 339,3541,818,303
FUND EQUITY
CAPITAL ACCOUNT CONST COST 01,779,016
CONTRIBUTED CAPITAL 00
RETAINED EARNINGS 28,234,00945,088,631
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)951,011(649,788)
TOTAL FUND EQUITY 29,185,02046,217,858
TOTAL LIABILITIES & FUND EQUITY 32,513,44288,704,568
65
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
ELECTRIC BALANCE SHEET
Current Month
Change from
Prior MonthJuly 31, 2022 June 30, 2022
ASSETS
CURRENT ASSETS
CASH 12,305,240 13,135,978 (830,738)
ACCOUNTS RECEIVABLE 4,552,720 4,153,502 399,218
INVENTORIES 1,234,045 1,101,006 133,039
PREPAID ITEMS 215,787 237,690 (21,903)
CONSTRUCTION IN PROGRESS 11,470,058 10,753,471 716,587
TOTAL CURRENT ASSETS 29,777,849 29,381,645 396,203
RESTRICTED ASSETS
BOND RESERVE FUND 1,779,016 1,779,016 0
EMERGENCY RESERVE FUND 2,858,354 2,857,398 956
TOTAL RESTRICTED ASSETS 4,637,370 4,636,414 956
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 45,622,954 45,388,333 234,621
GENERAL 11,949,063 11,808,072 140,991
FIXED ASSETS (COST)64,517,243 64,141,631 375,611
LESS ACCUMULATED DEPRECIATION (34,994,867)(34,800,051)(194,817)
TOTAL FIXED ASSETS, NET 29,522,376 29,341,581 180,795
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 21,546,212 0
LOSS OF REVENUE INTANGIBLE 4,349,653 4,349,653 0
LESS ACCUMULATED AMORTIZATION (2,560,034)(2,504,356)(55,678)
TOTAL INTANGIBLE ASSETS, NET 23,335,831 23,391,509 (55,678)
OTHER ASSETS AND DEFERRED OUTFLOWS 1,431,143 1,431,143 0
TOTAL ASSETS 88,704,568 88,182,291 522,277
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 6,462,212 5,953,016 509,195
SALARIES AND BENEFITS PAYABLE 571,995 548,855 23,139
DUE TO CITY 912,126 831,436 80,690
NOTES PAYABLE-CURRENT PORTION 87,135 104,562 (17,427)
BONDS PAYABLE-CURRENT PORTION 345,000 345,000 0
UNEARNED REVENUE 5,395 6,261 (866)
TOTAL CURRENT LIABILITIES 8,383,862 7,789,130 594,732
LONG TERM LIABILITIES
DUE TO CITY 90,720 90,720 0
BONDS PAYABLE, LESS CURRENT PORTION 30,215,067 30,220,055 (4,989)
PENSION LIABILITIES 1,978,758 1,978,758 0
TOTAL LONG TERM LIABILITIES 32,284,545 32,289,533 (4,989)
TOTAL LIABILITIES 40,668,407 40,078,663 589,743
DEFERRED INFLOWS OF RESOURCES 1,818,303 1,818,303 0
FUND EQUITY
CAPITAL ACCOUNT CONST COST 1,779,016 1,779,016 0
RETAINED EARNINGS 45,088,631 45,088,631 0
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(649,788)(582,322)(67,467)
TOTAL FUND EQUITY 46,217,858 46,285,325 (67,467)
TOTAL LIABILITIES & FUND EQUITY 88,704,568 88,182,291 522,277
66
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
WATER BALANCE SHEET
Current Month
Change from
Prior MonthJuly 31, 2022 June 30, 2022
ASSETS
CURRENT ASSETS
CASH 9,337,228 8,718,724 618,504
ACCOUNTS RECEIVABLE 502,185 429,861 72,324
INVENTORIES 17,095 15,399 1,696
PREPAID ITEMS 37,310 39,730 (2,420)
CONSTRUCTION IN PROGRESS 924,302 918,187 6,116
TOTAL CURRENT ASSETS 10,818,120 10,121,900 696,220
RESTRICTED ASSETS
EMERGENCY RESERVE FUND 1,343,029 1,342,790 239
TOTAL RESTRICTED ASSETS 1,343,029 1,342,790 239
FIXED ASSETS
PRODUCTION 14,897,830 14,897,830 0
DISTRIBUTION 25,751,342 25,751,342 0
GENERAL 1,071,732 1,071,732 0
FIXED ASSETS (COST)41,720,904 41,720,904 0
LESS ACCUMULATED DEPRECIATION (21,635,576)(21,543,890)(91,685)
TOTAL FIXED ASSETS, NET 20,085,328 20,177,013 (91,685)
INTANGIBLE ASSETS
OTHER ASSETS AND DEFERRED OUTFLOWS 266,964 266,964 0
TOTAL ASSETS 32,513,442 31,908,668 604,774
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 530,277 522,550 7,727
SALARIES AND BENEFITS PAYABLE 137,352 132,716 4,635
DUE TO CITY 1,830 3,659 (1,829)
BONDS PAYABLE-CURRENT PORTION 50,000 50,000 0
UNEARNED REVENUE 185,573 209,507 (23,934)
TOTAL CURRENT LIABILITIES 905,032 918,433 (13,401)
LONG TERM LIABILITIES
DUE TO CITY 22,680 22,680 0
BONDS PAYABLE, LESS CURRENT PORTION 1,691,368 1,691,922 (554)
PENSION LIABILITIES 369,988 369,988 0
TOTAL LONG TERM LIABILITIES 2,084,036 2,084,590 (554)
TOTAL LIABILITIES 2,989,068 3,003,023 (13,955)
DEFERRED INFLOWS OF RESOURCES 339,354 339,354 0
FUND EQUITY
RETAINED EARNINGS 28,234,009 28,234,009 0
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)951,011 332,282 618,728
TOTAL FUND EQUITY 29,185,020 28,566,291 618,728
TOTAL LIABILITIES & FUND EQUITY 32,513,442 31,908,668 604,774
67
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETElectric
Revenue
Operating Revenue
Elk River 3,670,765 20,358,880 20,433,717 3,731,345 19,649,8900 436,386,442 708,989
Otsego 335,555 1,781,665 1,636,025 371,498 1,670,5829 72,915,332 111,083
Rural Big Lake 19,276 111,574 122,051 24,809 111,680(9)0210,427 (106)
Dayton 24,234 137,113 143,620 30,021 134,526(5)2250,448 2,587
Public St & Hwy Lighting 21,494 150,259 145,833 20,895 146,4863 3250,000 3,772
Other Electric Sales 132,847 1,365,459 2,800 400 2,80048,666 48,6664,800 1,362,659
Total Operating Revenue 4,204,173 23,904,953 22,484,048 4,178,971 21,715,9676 1040,017,450 2,188,986
Other Operating Revenue
Interest/Dividend Income 4,008 (134,270)46,666 3,780 39,259(388)(442)80,000 (173,530)
Customer Penalties 20,088 135,877 128,181 0 06 0235,000 135,877
LFG Project 92,775 576,999 585,200 87,930 595,697(1)(3)836,000 (18,698)
Connection Fees 16,575 103,795 124,000 48,800 169,000(16)(39)220,000 (65,205)
Misc Revenue 131,291 652,469 515,750 134,534 630,62427 3887,000 21,844
Total Other Revenue 264,738 1,334,870 1,399,798 275,044 1,434,581(5)(7)2,258,000 (99,711)
Total Revenue 4,468,911 25,239,823 23,883,846 4,454,016 23,150,5496 942,275,450 2,089,274
Expenses
Purchased Power 3,512,076 18,383,179 15,572,935 3,110,114 15,793,62218 1627,017,920 2,589,556
Operating & Mtce Expense 18,479 140,570 171,833 15,531 153,206(18)(8)291,500 (12,636)
Landfill Gas 39,418 379,940 429,191 60,675 421,631(11)(10)613,131 (41,691)
Transmission Expense 5,246 38,476 38,908 6,041 35,559(1)866,700 2,917
Distribution Expense 17,689 214,458 202,367 24,146 209,7286 2346,916 4,729
Maintenance Expense 122,332 888,238 902,558 108,006 756,374(2)171,467,100 131,864
Depreciation & Amortization 250,494 1,747,776 1,749,143 248,153 1,721,3060 23,104,833 26,469
Interest Expense 70,862 499,186 499,562 71,102 386,8380 29845,509 112,348
Other Operating Expense 2,108 19,550 12,681 3,228 (157,347)54 11266,740 176,897
Customer Accounts Expense 36,329 216,435 204,283 28,097 191,3126 13350,200 25,123
Administrative Expense 265,834 2,152,555 2,232,243 243,592 2,118,728(4)23,784,278 33,826
General Expense 28,463 229,474 341,171 56,907 214,562(33)7587,670 14,911
Total Expenses(before Operating Transfers)4,369,334 24,909,842 22,356,880 3,975,597 21,845,52311 1438,542,498 3,064,318
Operating Transfer
Operating Transfer/Other Funds 147,531 847,552 817,348 142,023 782,7804 81,455,457 64,772
Utilities & Labor Donated 19,512 132,216 134,166 17,632 128,676(1)3230,000 3,540
Total Operating Transfer 167,044 979,769 951,515 159,656 911,4573 71,685,457 68,312
Net Income Profit(Loss)(67,466)(649,788)575,450 318,762 393,568(213)(265)2,047,494 (1,043,356)
68
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETWater
Revenue
Operating Revenue
Water Sales 431,002 1,394,668 1,325,684 573,393 1,589,4615 (12)2,444,916 (194,793)
Total Operating Revenue 431,002 1,394,668 1,325,684 573,393 1,589,4615 (12)2,444,916 (194,793)
Other Operating Revenue
Interest/Dividend Income 2,312 (28,076)21,000 3,456 15,697(234)(279)36,000 (43,773)
Customer Penalties 3,885 8,895 9,816 0 0(9)018,000 8,895
Connection Fees 410,754 1,217,379 280,000 71,894 380,482335 220480,000 836,897
Misc Revenue 24,914 172,783 210,774 24,341 166,950(18)3364,153 5,833
Total Other Revenue 441,866 1,370,982 521,590 99,692 563,130163 143898,153 807,852
Total Revenue 872,868 2,765,650 1,847,275 673,085 2,152,59150 283,343,069 613,059
Expenses
Production Expense 5,366 51,127 43,750 5,960 140,65117 (64)75,000 (89,523)
Pumping Expense 53,914 331,536 328,416 45,768 305,6331 8563,000 25,902
Distribution Expense 32,162 179,095 195,775 46,722 182,628(9)(2)323,100 (3,533)
Depreciation & Amortization 91,685 645,432 661,105 94,832 671,187(2)(4)1,199,123 (25,755)
Interest Expense 3,279 24,158 24,158 3,563 10,4830 13039,720 13,674
Other Operating Expense 152 1,798 1,079 (1,154)(46,334)67 1041,850 48,132
Customer Accounts Expense 7,136 44,914 43,283 5,981 41,2384 974,200 3,676
Administrative Expense 59,923 531,440 562,340 56,632 525,710(5)1945,251 5,729
General Expense 520 5,136 7,379 4,711 10,233(30)(50)12,650 (5,097)
Total Expenses(before Operating Transfers)254,140 1,814,639 1,867,287 263,018 1,841,433(3)(1)3,233,895 (26,793)
Operating Transfer
Utilities & Labor Donated 0 0 875 782 878(100)(100)1,500 (878)
Total Operating Transfer 0 0 875 782 878(100)(100)1,500 (878)
Net Income Profit(Loss)618,728 951,010 (20,887)409,284 310,2794,653 207107,673 640,731
69
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
2021 2022
15,000
20,000
25,000
30,000
35,000
40,000
Energy Purchases in MWHMonth
Elk River Municipal Utilities Monthly Energy Purchases
2021 2022
70
15,000
20,000
25,000
30,000
35,000
40,000
Electric Load in MWHMonth
Elk River Municipal Utilities Monthly Total Electric Load
2021 2022
$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
2021 2022
71
-
5,000
10,000
15,000
20,000
25,000
Loads in MWHMonth
Elk River Municipal Utilities Monthly Residential, Commercial & Industrial
Loads
2021 Residential 2022 Residential 2021 Commercial
2022 Commercial 2021 Industrial 2022 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
2021 Residential 2022 Residential 2021 Commercial
2022 Commercial 2021 Industrial 2022 Industrial
72
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
Pumpage in Million Gal.Month
Elk River Municipal Utilities Monthly Water Pumpage
2021 2022
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
2021 2022
73
$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
2021 MG 2022 MG 2021 $2022 $
74
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETElectric
Revenue
Operating Revenue
Elk River
ELECT SALES - ELK RIVER RESID 1,556,585 7,411,1951,417,797 7,696,5947,585,324 (1)213,522,234 174,128
ELECT SALES - ELK RIVER NON-D 320,199 1,713,683309,198 1,825,5011,832,268 0 73,228,252 118,585
ELECT SALES - ELK RIVER DEMA 1,854,560 10,525,0111,943,768 10,911,62110,941,286 0 419,635,954 416,275
3,670,765 20,358,880 20,433,717 3,731,345 19,649,8900 4Total For Elk River:36,386,442 708,989
Otsego
ELECT SALES - OTSEGO RESIDEN 172,385 734,814148,372 774,680773,674 0 51,367,785 38,859
ELECT SALES - OTSEGO NON-DEM 58,877 235,77749,200 227,598259,733 14 10423,970 23,956
ELECT SALES - OTSEGO DEMAND 140,235 699,990137,982 633,746748,258 18 71,123,576 48,267
335,555 1,781,665 1,636,025 371,498 1,670,5829 7Total For Otsego:2,915,332 111,083
Rural Big Lake
ELECT SALES - BIG LAKE RESIDE 23,948 109,47418,517 119,973109,526 (9)0206,219 52
ELECT SALES - BIG LAKE NON-DE 861 2,2067592,0772,047 (1)(7)4,208 (158)
19,276 111,574 122,051 24,809 111,680(9)0Total For Rural Big Lake:210,427 (106)
Dayton
ELECT SALES - DAYTON RESIDEN 25,524 113,10820,438 122,909115,054 (6)2213,485 1,946
ELECT SALES - DAYTON NON-DE 4,497 21,4173,796 20,71122,059 7 336,963 641
24,234 137,113 143,620 30,021 134,526(5)2Total For Dayton:250,448 2,587
Public St & Hwy Lighting
ELECT SALES - SEC LTS 20,895 146,48621,494 145,833150,259 3 3250,000 3,772
21,494 150,259 145,833 20,895 146,4863 3Total For Public St & Hwy Lighting:250,000 3,772
Other Electric Sales
SUB-STATION CREDIT 400 2,8004002,8002,800 0 04,800 0
RATE INCREASE 0 0132,447 01,362,659 0 001,362,659
132,847 1,365,459 2,800 400 2,80048,666 48,666Total For Other Electric Sales:4,800 1,362,659
Total Operating Revenue
4,178,971 21,715,9674,204,173 22,484,04823,904,953 6 1040,017,450 2,188,986
Other Operating Revenue
Interest/Dividend Income
INTEREST & DIVIDEND INCOME 3,780 39,2594,008 46,666(134,270)(388)(442)80,000 (173,530)
4,008 (134,270)46,666 3,780 39,259(388)(442)Total For Interest/Dividend Income:80,000 (173,530)
Customer Penalties
CUSTOMER DELINQUENT PENALT 0 020,088 128,181135,877 6 0235,000 135,877
20,088 135,877 128,181 0 06 0Total For Customer Penalties:235,000 135,87775
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETElectric
LFG Project
LFG PROJECT 87,930 595,69792,775 585,200576,999 (1)(3)836,000 (18,698)
92,775 576,999 585,200 87,930 595,697(1)(3)Total For LFG Project:836,000 (18,698)
Connection Fees
DISCONNECT & RECONNECT CHA 48,800 169,00016,575 124,000103,795 (16)(39)220,000 (65,205)
16,575 103,795 124,000 48,800 169,000(16)(39)Total For Connection Fees:220,000 (65,205)
Misc Revenue
MISC ELEC REVENUE - TEMP CHG 0 1,81201,1662,840 143 572,000 1,027
STREET LIGHT 13,790 51,590010,000125 (99)(100)20,000 (51,465)
TRANSMISSION INVESTMENTS 59,140 282,60667,666 350,000349,391 0 24600,000 66,785
MISC NON-UTILITY 9,687 54,17130,451 52,500105,127 100 9490,000 50,956
GAIN ON DISPOSITION OF PROPER 0 00022,750 0 0022,750
CONTRIBUTIONS FROM CUSTOME 51,916 240,44433,173 102,083172,235 69 (28)175,000 (68,209)
131,291 652,469 515,750 134,534 630,62427 3Total For Misc Revenue:887,000 21,844
Total Other Revenue
275,044 1,434,581264,738 1,399,7981,334,870 (5)(7)2,258,000 (99,711)
264,738 1,334,870 1,399,798 275,044 1,434,581(5)(7)Total For Total Other Revenue:2,258,000 (99,711)
4,454,016 23,150,5494,468,911 23,883,846 Total Revenue 25,239,823 6 942,275,450 2,089,274
Expenses
Purchased Power
PURCHASED POWER 3,110,114 15,793,6223,512,076 15,572,93518,383,179 18 1627,017,920 2,589,556
3,512,076 18,383,179 15,572,935 3,110,114 15,793,62218 16Total For Purchased Power:27,017,920 2,589,556
Operating & Mtce Expense
OPERATING SUPERVISION 7,671 63,24011,223 83,41667,611 (19)7143,000 4,370
DIESEL OIL FUEL 821 2,843915,8331,566 (73)(45)10,000 (1,277)
NATURAL GAS 1,429 15,6012239,60011,995 25 (23)17,500 (3,606)
ELECTRIC & WATER CONSUMPTI 2,028 15,8021,814 17,90020,149 13 2830,000 4,347
PLANT SUPPLIES & OTHER EXPEN 628 8,4042787,5834,004 (47)(52)13,000 (4,400)
MISC POWER GENERATION EXPE 208 4,8836324,6663,136 (33)(36)8,000 (1,746)
MAINTENANCE OF STRUCTURE -1,273 6,5831,372 8,7509,448 8 4415,000 2,864
MTCE OF PLANT ENGINES/GENER 665 20,7892,736 14,5839,061 (38)(56)25,000 (11,727)
MTCE OF PLANT/LAND IMPROVE 804 15,05610719,50013,597 (30)(10)30,000 (1,459)
18,479 140,570 171,833 15,531 153,206(18)(8)Total For Operating & Mtce Expense:291,500 (12,636)
Landfill Gas
76
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETElectric
LANDFILL GAS PLANT PURCHASE 15,500 101,46515,182 106,25594,459 (11)(7)151,794 (7,006)
LANDFILL GAS PLANT OPERATIO 43,229 302,89121,966 290,630271,078 (7)(11)415,187 (31,812)
LANDFILL GAS PLANT ADMINIST 204 3,78618117,8851,856 (90)(51)25,550 (1,930)
LANDFILL GAS PLANT INSURANC 1,623 11,2701,948 13,96511,690 (16)419,950 420
LANDFILL GAS PLANT MTCE 117 2,21714045585588 (61)650 (1,362)
39,418 379,940 429,191 60,675 421,631(11)(10)Total For Landfill Gas:613,131 (41,691)
Transmission Expense
TRANSMISSION MTCE AND EXPE 6,041 35,5595,246 38,90838,476 (1)866,700 2,917
5,246 38,476 38,908 6,041 35,559(1)8Total For Transmission Expense:66,700 2,917
Distribution Expense
REMOVE EXISTING SERVICE & M 306 39701,458194 (87)(51)2,500 (202)
SCADA EXPENSE 2,763 23,9102,832 25,66624,152 (6)144,000 242
TRANSFORMER EXPENSE OH & U 869 6,0808497,5837,043 (7)1613,000 963
MTCE OF SIGNAL SYSTEMS 334 6443011,1661,717 47 1662,000 1,073
METER EXPENSE - REMOVE & RE 306 5242095835820 111,000 58
TEMP SERVICE - INSTALL & REM 267 937871,1661,997 71 1132,000 1,059
MISC DISTRIBUTION EXPENSE 19,298 177,23313,408 163,333178,769 9 1280,000 1,535
INTERCONNECTION CARRYING C 0 001,4090 (100)02,416 0
17,689 214,458 202,367 24,146 209,7286 2Total For Distribution Expense:346,916 4,729
Maintenance Expense
MTCE OF STRUCTURES 2,096 14,6912,263 17,50014,759 (16)030,000 68
MTCE OF SUBSTATIONS 1,651 5,7035,825 15,16624,337 60 32726,000 18,633
MTCE OF SUBSTATION EQUIPME 4,574 39,1381,455 40,25028,378 (29)(27)69,000 (10,760)
MTCE OF OH LINES/TREE TRIM 123 57,030526178,000109,918 (38)93225,000 52,888
MTCE OF OH LINES/STANDBY 3,205 20,6613,055 21,00019,938 (5)(3)36,000 (722)
MTCE OF OH PRIMARY 21,817 99,15826,576 99,166108,195 9 9170,000 9,036
MTCE OF URD PRIMARY 16,486 103,85225,354 96,250122,040 27 18165,000 18,188
LOCATE ELECTRIC LINES 9,506 58,4139,718 61,30856,389 (8)(3)105,100 (2,023)
LOCATE FIBER LINES 47 2370583375(36)581,000 137
MTCE OF LINE TRANSFORMERS 679 41,1034,221 35,00017,830 (49)(57)60,000 (23,273)
MTCE OF STREET LIGHTING 2,759 13,1326,365 26,25032,603 24 14845,000 19,471
MTCE OF SECURITY LIGHTING 2,585 6,5772,375 5,83310,068 73 5310,000 3,490
MTCE OF METERS 6,579 34,5645,985 46,66650,041 7 4580,000 15,476
VOLTAGE COMPLAINTS 1,889 5,5451,348 5,8334,932 (15)(11)10,000 (612)
SALARIES TRANSMISSION & DIST 2,041 15,1631,954 17,50015,886 (9)530,000 72277
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETElectric
ELECTRIC MAPPING 5,353 46,2123,041 52,50056,867 8 2390,000 10,654
MTCE OF OH SECONDARY 1,826 10,8192,452 14,58311,821 (19)925,000 1,001
MTCE OF URD SECONDARY 4,079 26,5072,384 29,16636,367 25 3750,000 9,859
TRANSPORTATION EXPENSE 20,704 157,86117,424 140,000167,486 20 6240,000 9,625
122,332 888,238 902,558 108,006 756,374(2)17Total For Maintenance Expense:1,467,100 131,864
Depreciation & Amortization
DEPRECIATION 192,475 1,331,560194,816 1,359,3981,358,030 0 22,436,698 26,469
AMORTIZATION 55,677 389,74555,677 389,745389,745 0 0668,135 0
250,494 1,747,776 1,749,143 248,153 1,721,3060 2Total For Depreciation & Amortization:3,104,833 26,469
Interest Expense
INTEREST EXPENSE - BONDS 75,889 418,96275,850 535,009535,009 0 28906,275 116,047
INTEREST EXPENSE - DEFEASED 1,105 (276)0 00 0 1000276
AMORTIZATION OF DEBT DISCOU (5,892)(31,847)(4,988)(35,446)(35,823)(1)(12)(60,765)(3,975)
70,862 499,186 499,562 71,102 386,8380 29Total For Interest Expense:845,509 112,348
Other Operating Expense
EV CHARGING EXPENSE 276 2,3194832,4733,218 30 394,240 898
LOSS ON DISPOSITION OF PROP (C 0 45,21307,2910 (100)(100)12,500 (45,213)
OTHER DONATIONS 647 6471,081 1,7501,545 (12)1393,000 898
MUTUAL AID 6,860 6,8600010,632 0 5503,772
PENSION EXPENSE 0 00000 045,000 0
OPEB EXPENSE 0 (208,273)0 00 0 1000208,273
OTHER INTEREST EXPENSE (4,630)(4,630)378 02,998 0 16507,628
INTEREST EXPENSE - METER DEP 74 5151661,1661,155 (1)1242,000 640
2,108 19,550 12,681 3,228 (157,347)54 112Total For Other Operating Expense:66,740 176,897
Customer Accounts Expense
METER READING EXPENSE 4,236 24,7614,096 24,55827,915 14 1342,100 3,154
DISCONNECT/RECONNECT EXPEN 1,574 9,4842,236 9,39112,986 38 3716,100 3,501
MISC CUSTOMER ACCOUNTS EXP 22,015 154,12326,687 158,666168,769 6 10272,000 14,646
BAD DEBT EXPENSE & RECOVER 270 2,9423,309 11,6666,763 (42)13020,000 3,820
36,329 216,435 204,283 28,097 191,3126 13Total For Customer Accounts Expense:350,200 25,123
Administrative Expense
SALARIES OFFICE & COMMISSION 61,416 465,96563,626 501,666452,368 (10)(3)860,000 (13,597)
SALARIES COVID-19 0 21,0400000 (100)0 (21,040)
TEMPORARY STAFFING 0 002,3330 (100)04,000 0
OFFICE SUPPLIES (682)39,6304,474 62,41641,848 (33)6107,000 2,218
78
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETElectric
ELECTRIC & WATER CONSUMPTI 2,264 14,3242,619 16,91614,546 (14)229,000 221
BANK FEES 206 1,3571431,4581,084 (26)(20)2,500 (273)
LEGAL FEES 1,400 14,0371,689 18,66618,129 (3)2932,000 4,091
AUDITING FEES 893 9,8931,503 10,52310,523 0 618,040 630
INSURANCE 13,066 91,70514,239 106,682105,680 (1)15182,884 13,974
UTILITY SHARE - DEFERRED COM 6,899 76,2876,978 72,04182,349 14 8123,500 6,062
UTILITY SHARE - MEDICAL/DENT 52,956 492,01458,495 542,416537,218 (1)9847,000 45,203
UTILITY SHARE - PERA 23,115 152,55822,435 163,333158,219 (3)4280,000 5,660
UTILITY SHARE - FICA 22,223 146,87821,848 154,583153,142 (1)4265,000 6,264
EMPLOYEE SICK PAY 8,430 73,26911,681 77,59789,372 15 22133,025 16,102
EMPLOYEE HOLIDAY PAY 13,005 63,13913,585 66,81452,519 (21)(17)146,991 (10,620)
EMPLOYEE VACATION & PTO PA 16,155 138,66021,198 144,246152,471 6 10231,961 13,811
UPMIC DISTRIBUTION 0 26,091030,00021,815 (27)(16)60,000 (4,276)
LONGEVITY PAY 0 0001,550 0 001,550
CONSULTING FEES 1,850 25,06249232,08354,690 70 11855,000 29,628
TELEPHONE 2,825 17,19956818,25818,092 (1)531,300 893
ADVERTISING 340 7,4841,085 7,5838,814 16 1813,000 1,330
DUES & SUBSCRIPTIONS - FEES 10,628 177,19510,697 76,04670,011 (8)(60)130,365 (107,184)
SCHOOLS & MEETINGS 6,002 60,7577,860 122,200103,843 (15)71224,212 43,085
MTCE OF GENERAL PLANT & OFFI 596 4,1756094,3754,266 (2)27,500 90
265,834 2,152,555 2,232,243 243,592 2,118,728(4)2Total For Administrative Expense:3,784,278 33,826
General Expense
CIP REBATES - RESIDENTIAL 6,581 24,4405,335 33,77929,687 (12)2157,907 5,247
CIP REBATES - COMMERCIAL 32,424 43,7221,260 135,45062,386 (54)43232,200 18,664
CIP - ADMINISTRATION 424 3,2943,653 49,7586,241 (87)8985,301 2,946
CIP - MARKETING 2,308 20,0553,364 27,41617,608 (36)(12)47,000 (2,447)
CIP - LABOR 11,303 85,57911,202 58,63284,948 45 (1)100,512 (631)
CIP REBATES - LOW INCOME 0 6,635010,7914,185 (61)(37)18,500 (2,450)
CIP - LOW INCOME LABOR 774 6,2097425,6876,073 7 (2)9,750 (136)
ENVIRONMENTAL COMPLIANCE 3,095 18,7152,906 18,19618,196 0 (3)34,000 (519)
MISC GENERAL EXPENSE (3)5,908(2)1,458148 (90)(97)2,500 (5,760)
28,463 229,474 341,171 56,907 214,562(33)7Total For General Expense:587,670 14,911
Total Expenses(before Operating Transfers)
3,975,597 21,845,5234,369,334 22,356,88024,909,842 11 1438,542,498 3,064,318
Operating Transfer 79
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETElectric
Operating Transfer/Other Funds
TRANSFER TO CITY ELK RIVER R 142,023 782,780147,531 817,348847,552 4 81,455,457 64,772
147,531 847,552 817,348 142,023 782,7804 8Total For Operating Transfer/Other Funds:1,455,457 64,772
Utilities & Labor Donated
UTILITIES & LABOR DONATED TO 17,632 128,67619,512 134,166132,216 (1)3230,000 3,540
19,512 132,216 134,166 17,632 128,676(1)3Total For Utilities & Labor Donated:230,000 3,540
Total Operating Transfer
167,044 979,769 951,515 159,656 911,4573 7Total For Total Operating Transfer:1,685,457 68,312
318,762 393,568(67,466)575,450 Net Income Profit(Loss)(649,788)(213)(265)2,047,494 (1,043,356)
80
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETWater
Revenue
Operating Revenue
Water Sales
WATER SALES RESIDENTIAL 344,106 971,438247,897 778,294846,909 9 (13)1,359,866 (124,529)
WATER SALES COMMERCIAL 146,734 456,399120,020 442,609448,539 1 (2)842,024 (7,860)
WATER SALES IRRIGATION 82,551 161,62363,084 104,78099,219 (5)(39)243,025 (62,403)
431,002 1,394,668 1,325,684 573,393 1,589,4615 (12)Total For Water Sales:2,444,916 (194,793)
Total Operating Revenue
573,393 1,589,461431,002 1,325,6841,394,668 5 (12)2,444,916 (194,793)
431,002 1,394,668 1,325,684 573,393 1,589,4615 (12)Total For Total Operating Revenue:2,444,916 (194,793)
Other Operating Revenue
Interest/Dividend Income
INTEREST & DIVIDEND INCOME 2,775 15,0151,719 20,416(28,669)(240)(291)35,000 (43,685)
OTHER INTEREST/MISC REVENUE 681 6815925835922 (13)1,000 (88)
2,312 (28,076)21,000 3,456 15,697(234)(279)Total For Interest/Dividend Income:36,000 (43,773)
Customer Penalties
CUSTOMER PENALTIES 0 03,885 9,8168,895 (9)018,000 8,895
3,885 8,895 9,816 0 0(9)0Total For Customer Penalties:18,000 8,895
Connection Fees
WATER/ACCESS/CONNECTION FE 67,620 355,256398,673 250,8331,169,029 366 229430,000 813,772
CUSTOMER CONNECTION FEES 4,213 22,0259,423 20,41643,955 115 10035,000 21,929
BULK WATER SALES/HYDRANT R 60 3,1992,658 8,7504,394 (50)3715,000 1,194
410,754 1,217,379 280,000 71,894 380,482335 220Total For Connection Fees:480,000 836,897
Misc Revenue
MISC NON-UTILITY 0 000250 0025
MISCELLANEOUS REVENUE 305 838002870 (66)0 (550)
HYDRANT MAINTENANCE PROGR 975 6,8559807,5837,194 (5)513,000 338
CONTRIBUTIONS FROM DEVELOP 0 0037,9160 (100)065,000 0
WATER TOWER LEASE 23,061 159,25623,934 165,274165,276 0 4286,153 6,020
24,914 172,783 210,774 24,341 166,950(18)3Total For Misc Revenue:364,153 5,833
Total Other Revenue
99,692 563,130441,866 521,5901,370,982 163 143898,153 807,852
441,866 1,370,982 521,590 99,692 563,130163 143Total For Total Other Revenue:898,153 807,852
673,085 2,152,591872,868 1,847,275 Total Revenue 2,765,650 50 283,343,069 613,059
81
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETWater
Expenses
Production Expense
MTCE OF STRUCTURES 5,960 140,6515,366 43,75051,127 17 (64)75,000 (89,523)
5,366 51,127 43,750 5,960 140,65117 (64)Total For Production Expense:75,000 (89,523)
Pumping Expense
SUPERVISION 4,511 33,2855,565 38,50035,621 (7)766,000 2,335
ELECTRIC & GAS UTILITIES 27,186 162,57029,336 157,500160,193 2 (1)270,000 (2,376)
SAMPLING 1,185 7,1001,108 8,7508,428 (4)1915,000 1,327
CHEMICAL FEED 3,913 19,2385,390 21,00019,157 (9)036,000 (80)
MTCE OF ELECTRIC PUMPING EQ 0 3600460 2409
MTCE OF WELLS 8,783 80,1218,817 93,33399,594 7 24160,000 19,472
SCADA - PUMPING 189 3,2803,697 9,3338,495 (9)15916,000 5,215
53,914 331,536 328,416 45,768 305,6331 8Total For Pumping Expense:563,000 25,902
Distribution Expense
MTCE OF WATER MAINS 30,491 70,89716,122 70,00046,411 (34)(35)120,000 (24,485)
LOCATE WATER LINES 1,313 9,3261,459 9,9165,901 (40)(37)17,000 (3,424)
MTCE OF WATER SERVICES 0 0003260 00326
WATER METER SERVICE 8,944 32,7603,768 32,08350,971 59 5655,000 18,210
BACKFLOW DEVICE INSPECTION 273 4,5081,905 8,3008,709 5 9315,000 4,201
MTCE OF CUSTOMERS SERVICE 2,569 16,1922,730 17,79116,423 (8)130,500 231
WATER MAPPING 384 6,8903,116 7,2915,162 (29)(25)12,500 (1,728)
MTCE OF WATER HYDRANTS - PU 883 7,47668910,5007,914 (25)618,000 438
MTCE OF WATER HYDRANTS - PR 193 2253002,9161,289 (56)4705,000 1,063
WATER CLOTHING/PPE 348 9,927234,0835,339 31 (46)7,000 (4,588)
WAGES WATER 361 3,5828565,5413,914 (29)99,500 331
TRANSPORTATION EXPENSE 957 5,9651,188 8,7508,360 (4)4015,000 2,395
WATER PERMIT 0 14,875018,60018,370 (1)2318,600 3,494
32,162 179,095 195,775 46,722 182,628(9)(2)Total For Distribution Expense:323,100 (3,533)
Depreciation & Amortization
DEPRECIATION 94,832 671,18791,685 661,105645,432 (2)(4)1,199,123 (25,755)
91,685 645,432 661,105 94,832 671,187(2)(4)Total For Depreciation & Amortization:1,199,123 (25,755)
Interest Expense
INTEREST EXPENSE - BONDS 3,840 11,1073,833 28,03728,037 0 15246,371 16,930
INTEREST EXPENSE - DEFEASED 276 (69)0 00 0 100069
AMORTIZATION OF DEBT DISCOU (554)(554)(554)(3,879)(3,879)0 (600)(6,651)(3,325)
82
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETWater
3,279 24,158 24,158 3,563 10,4830 130Total For Interest Expense:39,720 13,674
Other Operating Expense
DAM MAINTENANCE EXPENSE 0 (667)53 1,0201,017 0 2531,750 1,684
OPEB EXPENSE 0 (44,525)0 00 0 100044,525
OTHER INTEREST EXPENSE (1,157)(1,157)94 0749 0 16501,906
INTEREST EXPENSE - METER DEP 2 1545830(47)9410015
152 1,798 1,079 (1,154)(46,334)67 104Total For Other Operating Expense:1,850 48,132
Customer Accounts Expense
METER READING EXPENSE 212 1,3362081,4581,402 (4)52,500 66
MISC CUSTOMER ACCOUNTS EXP 5,768 39,9026,927 41,53343,512 5 971,200 3,609
BAD DEBT EXPENSE & RECOVER 0 002910(100)05000
7,136 44,914 43,283 5,981 41,2384 9Total For Customer Accounts Expense:74,200 3,676
Administrative Expense
SALARIES OFFICE & COMMISSION 17,806 134,31818,652 137,083131,846 (4)(2)235,000 (2,472)
SALARIES COVID-19 0 1,7910000 (100)0 (1,791)
TEMPORARY STAFFING 0 005830(100)01,000 0
OFFICE SUPPLIES 619 14,12693913,8258,105 (41)(43)23,700 (6,021)
ELECTRIC & WATER CONSUMPTI 566 3,5816544,6663,636 (22)28,000 55
BANK FEES 45 35235408281(31)(20)700 (71)
LEGAL FEES 350 3,0994224,6664,485 (4)458,000 1,386
AUDITING FEES 223 2,4733752,6302,630 0 64,510 157
INSURANCE 2,097 14,8782,860 15,75018,931 20 2727,000 4,053
UTILITY SHARE - DEFERRED COM 1,517 11,1781,301 16,33315,137 (7)3528,000 3,958
UTILITY SHARE - MEDICAL/DENT 14,996 118,74115,491 137,075139,816 2 18217,000 21,075
UTILITY SHARE - PERA 4,212 28,1034,360 29,75030,454 2 851,000 2,351
UTILITY SHARE - FICA 4,039 27,0624,199 28,58329,183 2 849,000 2,121
EMPLOYEE SICK PAY 1,849 11,8711,690 17,50014,221 (19)2030,000 2,349
EMPLOYEE HOLIDAY PAY 2,436 11,8522,552 12,7279,404 (26)(21)28,000 (2,447)
EMPLOYEE VACATION & PTO PA 2,881 25,2523,336 26,00027,013 4 741,000 1,760
UPMIC DISTRIBUTION 0 4,86405,5004,544 (17)(7)11,000 (319)
WELLHEAD PROTECTION 0 0020,0004,724 (76)020,000 4,724
CONSULTING FEES 0 19,29959511,66617,520 50 (9)20,000 (1,779)
TELEPHONE 698 3,8991423,9664,320 9 116,800 420
ADVERTISING 85 2,2492712,9162,075 (29)(8)5,000 (174)
DUES & SUBSCRIPTIONS - FEES 1,253 72,2461,204 37,50041,393 10 (43)73,615 (30,852)83
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING JULY 2022
2022
JULY
2021
JULY
2022
YTD
2021
YTD
2022
YTD
BUDGET
2022 YTD
Bud Var%
2021 v. 2022
Actual Var%
YTD
VARIANCE
2022
ANNUAL
BUDGETWater
SCHOOLS & MEETINGS 803 13,42168432,09820,645 (36)5455,025 7,224
MTCE OF GENERAL PLANT & OFFI 149 1,0431521,1081,066 (4)21,900 22
59,923 531,440 562,340 56,632 525,710(5)1Total For Administrative Expense:945,251 5,729
General Expense
CIP REBATES - RESIDENTIAL 2,392 4,0611952,625629 (76)(85)4,500 (3,432)
CIP REBATES - COMMERCIAL 0 002910(100)05000
CIP - MARKETING 0 1210291613110 402500491
CIP - LABOR 384 2,6312762,7412,561 (7)(3)4,700 (70)
ENVIRONMENTAL COMPLIANCE 47 720481,2831,332 4 852,200 611
MISC GENERAL EXPENSE 1,888 2,69801450(100)(100)250 (2,698)
520 5,136 7,379 4,711 10,233(30)(50)Total For General Expense:12,650 (5,097)
Total Expenses(before Operating Transfers)
263,018 1,841,433254,140 1,867,2871,814,639 (3)(1)3,233,895 (26,793)
Operating Transfer
Utilities & Labor Donated
WATER & LABOR DONATED TO CI 782 87808750(100)(100)1,500 (878)
Total Operating Transfer
0 0 875 782 878(100)(100)Total For Total Operating Transfer:1,500 (878)
409,284 310,279618,728 (20,887) Net Income Profit(Loss)951,010 4,653 207107,673 640,731
84