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5.1 ERMUSR 12-13-2022��i Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: December 13, 2022 5.1 SUBJECT: Financial Report —October 2022 ACTION REQUESTED: Receive the October 2022 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, 8%. For further breakdown: • Residential usage is up 1% • Small Commercial usage is up 4% • Large Commercial usage is down 13% Electric Operating Revenues for October of $3,438,039 are more than prior year by 8% and favorable to budget by 5%. October 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 Power Cost Adjustment (PCA) revenue of $3,200,211. Other Revenues of $280,633 are more than the prior year by 103% and favorable to budget by 38%. Other Revenues YTD are more than prior year by 4% and favorable to budget by 6%. The main drivers of budget YTD variance are Contributions from Customers, Misc Non -Utility (mainly due to mutual aid), and Gain on Disposition of Property (mainly LFG Plant and trade-in from bucket truck) which are partially offset by Interest & Dividend Income. Overall, Total Revenues of $3,718,673 are more than the prior year by 12% and favorable to budget by 7%. YTD is more than the prior year by 10% and favorable to budget by 6%. Purchased Power of $2,212,210 is less than the prior year by 8% but is unfavorable to budget by 12%. YTD is more than prior year by 15% and unfavorable to budget by 16%. YTD Energy Adjustment Clause (EAC) charge is $3,139,387 more than prior year and $3,700,211 more than budget. EAC charge is partially offset by PCA revenue of $3,200,211. Page 1 of 3 76 Administrative Expenses of $278,448 are more than the prior year by 1% but favorable to budget by 5%. YTD costs are more than the prior year by 4% but are favorable to budget by 2%. General Expenses of $43,757 are more than prior year by 112% but favorable to budget by 12%. YTD costs are more than the prior year by 15% but are still favorable to budget by 27%. Total expenses YTD are 13% 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 October 2022, the Electric Department has a Net Profit of $391,374 and YTD Net Profit of $248,247. This is behind the budgeted monthly Net Profit of $429,020 but ahead of the prior year monthly Net Loss of ($55,833). YTD is behind the budgeted YTD Net Profit of $1,472,590 and is less than the prior YTD Net Profit of $1,186,035. Overall, the electric department has decreased usage YTD (4% less than budget and 2% less than prior year) but increased PCA revenue due to passing along the EAC charge from our purchased power cost. YTD total operating revenue excluding PCA revenue would be unfavorable to budget by 3% (due to decreased usage) and about .4% more than prior year (due to decreased usage being offset by the rate increase). Total expenses excluding purchased power are favorable to budget by 2%. The YTD variance for purchased power is unfavorable to budget by $3,674,549 and YTD total expense variance is unfavorable to budget by $3,478,691 (total expense variance is less than the purchased power variance because other expenses are coming in favorable to budget). Water October gallons of water sold are up 9% from the prior year. For further breakdown: • Residential use is up 9% • Commercial use is up 10% Water Operating Revenues for October of $291,424 are more than prior year by 14% and favorable to budget by 16%. YTD is less than prior year by 7% but favorable to budget by 17%. Other Revenues of $78,332 are less than prior year by 8% but favorable to budget by 4%. YTD is more than prior YTD by 103% and favorable to budget by 113%. The main driver causing the prior YTD variance and budget YTD variance is Connection Fees. Overall, Total Revenues of $369,756 are more than prior year by 8% and more than prior YTD by 18%. YTD Total Revenues are favorable to budget by 42%. Total Expenses of $252,234 are more than prior year by 6% and more than prior YTD by 1%. YTD is favorable to budget by 2%. Page 2 of 3 77 For October 2022, the Water Department has a Net Profit of $116,982 and YTD Net Profit of $1,550,080. This is ahead of the budgeted monthly Net Profit of $62,526 and ahead of the prior year monthly Net Profit of $104,206. YTD is ahead of the budgeted YTD Net Profit of $283,339 and is ahead of the prior YTD Net Profit of $957,361. ATTACHMENTS: • Balance Sheet 10.2022 • Electric Balance Sheet 10.2022 • Water Balance Sheet 10.2022 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 10.2022 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 10.2022 • Graphs Prior Year and YTD 2022 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 10.2022 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 10.2022 Page 3 of 3 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING OCTOBER 2022 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 10,677,649 10,193,814 ACCOUNTS RECEIVABLE 3,802,239 376,660 INVENTORIES 1,210,235 24,598 PREPAID ITEMS 249,079 52,284 CONSTRUCTION IN PROGRESS 12,304,449 966,397 TOTAL CURRENT ASSETS 28,243,650 11,613,753 RESTRICTED ASSETS BOND RESERVE FUND 1,779,016 0 EMERGENCY RESERVE FUND 2,871,258 1,346,255 UNRESTRICTED RESERVE FUND 0 0 TOTAL RESTRICTED ASSETS 4,650,274 1,346,255 FIXED ASSETS PRODUCTION 788,807 14,962,754 LEG PROJECT 3,851,442 0 TRANSMISSION 2,305,024 0 DISTRIBUTION 45,972,447 25,751,342 GENERAL 12,004,715 1,081,462 FIXED ASSETS (COST) 64,922,435 41,795,558 LESS ACCUMULATED DEPRECIATION (35,573,555) (21,911,266) TOTAL FIXED ASSETS, NET 29,348,880 19,884,292 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY -IN 21,546,212 0 LOSS OF REVENUE INTANGIBLE 4,349,653 0 LESS ACCUMULATED AMORTIZATION (2,727,068) 0 TOTAL INTANGIBLE ASSETS, NET 23,168,797 0 OTHER ASSETS AND DEFERRED OUTFLOWS 1,431,143 266,964 TOTAL ASSETS 86,842,744 33,111,265 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 4,155,121 582,997 SALARIES AND BENEFITS PAYABLE 571,706 134,059 DUE TO CITY 910,410 2,930 DUE TO OTHER FUNDS 0 0 NOTES PAYABLE -CURRENT PORTION 0 0 BONDS PAYABLE -CURRENT PORTION 0 0 UNEARNED REVENUE 1,731 185,463 TOTAL CURRENT LIABILITIES 5,638,968 905,448 LONG TERM LIABILITIES OPEB LIABILITY 0 0 LEG PROJECT 0 0 DUE TO COUNTY 0 0 DUE TO CITY 90,720 22,680 BONDS PAYABLE, LESS CURRENT PORTION 30,200,101 1,689,705 PENSION LIABILITIES 1,978,758 369,988 TOTAL LONG TERM LIABILITIES 32,269,579 2,082,373 TOTAL LIABILITIES 37,908,547 2,987,821 DEFERRED INFLOWS OF RESOURCES 1,818,303 339,354 FUND EQUITY CAPITAL ACCOUNT CONST COST 1,779,016 0 CONTRIBUTED CAPITAL 0 0 RETAINED EARNINGS 45,088,631 28,234,009 NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) 248,247 1,550,080 TOTAL FUND EQUITY 47,115,894 29,784,090 TOTAL LIABILITIES & FUND EQUITY 86,842,744 33,111,265 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA ELECTRIC BALANCE SHEET Current Month Change from October 31, 2022 September 30, 2022 Prior Month ASSETS CURRENT ASSETS CASH 10,677,649 9,820,820 856,829 ACCOUNTS RECEIVABLE 3,802,239 5,337,650 (1,535,411) INVENTORIES 1,210,235 1,237,863 (27,629) PREPAID ITEMS 249,079 208,828 40,251 CONSTRUCTION IN PROGRESS 12,304,449 12,322,884 (18,436) TOTAL CURRENT ASSETS 28,243,650 28,928,045 (684,395) RESTRICTED ASSETS BOND RESERVE FUND 1,779,016 1,779,016 0 EMERGENCY RESERVE FUND 2,871,258 2,866,473 4,785 TOTAL RESTRICTED ASSETS 4,650,274 4,645,489 4,785 FIXED ASSETS PRODUCTION 788,807 788,761 46 LEG PROJECT 3,851,442 3,851,442 0 TRANSMISSION 2,305,024 2,305,024 0 DISTRIBUTION 45,972,447 45,784,048 188,399 GENERAL 12,004,715 11,953,834 50,881 FIXED ASSETS (COST) 64,922,435 64,683,109 239,326 LESS ACCUMULATED DEPRECIATION (35,573,555) (35,343,076) (230,480) TOTAL FIXED ASSETS, NET 29,348,880 29,340,034 8,846 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 (2,727,068) (2,671,390) (55,678) TOTAL INTANGIBLE ASSETS, NET 23,168,797 23,224,475 (55,678) OTHER ASSETS AND DEFERRED OUTFLOWS 1,431,143 1,431,143 0 TOTAL ASSETS 86,842,744 87,569,185 (726,441) LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 4,155,121 5,267,999 (1,112,878) SALARIES AND BENEFITS PAYABLE 571,706 548,359 23,347 DUE TO CITY 910,410 880,559 29,851 NOTES PAYABLE -CURRENT PORTION 0 52,281 (52,281) UNEARNED REVENUE 1,731 2,597 (866) TOTAL CURRENT LIABILITIES 5,638,968 6,751,795 (1,112,827) LONG TERM LIABILITIES DUE TO CITY 90,720 90,720 0 BONDS PAYABLE, LESS CURRENT PORTION 30,200,101 30,205,090 (4,989) PENSION LIABILITIES 1,978,758 1,978,758 0 TOTAL LONG TERM LIABILITIES 32,269,579 32,274,568 (4,989) TOTAL LIABILITIES 37,908,547 39,026,363 (1,117,815) 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) 248,247 (143,127) 391,374 TOTAL FUND EQUITY 47,115,894 46,724,519 391,374 TOTAL LIABILITIES & FUND EQUITY 86,842,744 87,569,185 (726,441) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA WATER BALANCE SHEET Current Month Change from October 31, 2022 September 30, 2022 Prior Month ASSETS CURRENT ASSETS CASH 10,193,814 9,872,698 321,116 ACCOUNTS RECEIVABLE 376,660 506,976 (130,316) INVENTORIES 24,598 24,889 (291) PREPAID ITEMS 52,284 37,992 14,293 CONSTRUCTION IN PROGRESS 966,397 961,070 5,327 TOTAL CURRENT ASSETS 11,613,753 11,403,625 210,128 RESTRICTED ASSETS EMERGENCY RESERVE FUND 1,346,255 1,345,059 1,196 TOTAL RESTRICTED ASSETS 1,346,255 1,345,059 1,196 FIXED ASSETS PRODUCTION 14,962,754 14,931,054 31,700 DISTRIBUTION 25,751,342 25,751,342 0 GENERAL 1,081,462 1,081,462 0 FIXED ASSETS (COST) 41,795,558 41,763,858 31,700 LESS ACCUMULATED DEPRECIATION (21,911,266) (21,819,309) (91,957) TOTAL FIXED ASSETS, NET 19,884,292 19,944,549 (60,257) INTANGIBLE ASSETS OTHER ASSETS AND DEFERRED OUTFLOWS 266,964 266,964 0 TOTAL ASSETS 33,111,265 32,960,197 151,068 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 582,997 557,514 25,483 SALARIES AND BENEFITS PAYABLE 134,059 129,885 4,174 DUE TO CITY 2,930 4,911 (1,981) UNEARNED REVENUE 185,463 178,499 6,964 TOTAL CURRENT LIABILITIES 905,448 870,808 34,640 LONG TERM LIABILITIES DUE TO CITY 22,680 22,680 0 BONDS PAYABLE, LESS CURRENT PORTION 1,689,705 1,690,259 (554) PENSION LIABILITIES 369,988 369,988 0 TOTAL LONG TERM LIABILITIES 2,082,373 2,082,927 (554) TOTAL LIABILITIES 2,987,821 2,953,735 34,085 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) 1,550,080 1,433,098 116,982 TOTAL FUND EQUITY 29,784,095 29,667,107 116,982 TOTAL LIABILITIES & FUND EQUITY 33,111,265 32,960,197 151,068 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River 3,204,270 31,327,280 30,784,531 36,386,442 2 2,890,899 29,604,065 1,723,214 6 Otsego 288,488 2,821,515 2,478,506 2,915,332 14 232,936 2,530,051 291,463 12 Rural Big Lake 15,791 170,857 179,766 210,427 (5) 12,802 164,612 6,245 4 Dayton 19,133 210,857 214,550 250,448 (2) 16,589 201,022 9,835 5 Public St & Hwy Lighting 21,671 215,256 208,333 250,000 3 21,116 209,718 5,538 3 Other Electric Sales (111,314) 1,311,928 4,000 4,800 32,698 400 4,000 1,307,928 32,698 Total Operating Revenue 3,438,039 36,057,695 33,869,688 40,017,450 6 3,174,744 32,713,470 3,344,225 10 Other Operating Revenue Interest/Dividend Income (15,570) (196,710) 66,666 80,000 (395) 4,475 54,462 (251,173) (461) Customer Penalties 24,792 237,775 192,272 235,000 24 0 0 237,775 0 LFG Project 89,470 849,853 836,000 836,000 2 81,650 857,255 (7,402) (1) Connection Fees 25,467 178,462 180,000 220,000 (1) 15,975 218,975 (40,512) (19) Misc Revenue 156,473 1,065,998 737,500 887,000 45 36,166 930,297 135,701 15 Total Other Revenue 280,633 2,135,379 2,012,439 2,258,000 6 138,267 2,060,990 74,389 4 Total Revenue 3,718,673 38,193,075 35,882,127 42,275,450 6 3,313,012 34,774,460 3,418,614 10 Expenses Purchased Power 2,212,210 27,087,318 23,412,769 27,017,920 16 2,393,971 23,613,485 3,473,833 15 Operating & Mtce Expense 20,908 200,469 237,758 291,500 (16) 13,812 202,238 (1,768) (1) Landfill Gas 57,380 553,776 613,131 613,131 (10) 59,637 600,487 (46,710) (8) Transmission Expense 4,533 54,030 55,583 66,700 (3) 4,700 53,021 1,009 2 Distribution Expense 29,623 300,959 289,096 346,916 4 16,587 269,707 31,251 12 Maintenance Expense 119,639 1,238,312 1,216,083 1,467,100 2 94,012 1,032,052 206,260 20 Depreciation & Amortization 286,157 2,534,753 2,534,166 3,104,833 0 248,389 2,462,840 71,912 3 Interest Expense 69,424 707,459 707,610 845,509 0 74,014 608,880 98,578 16 Other Operating Expense 18,342 51,826 18,116 66,740 186 1,142 (153,645) 205,472 134 Customer Accounts Expense 37,483 326,795 291,833 350,200 12 30,528 282,143 44,651 16 Administrative Expense 278,448 3,054,299 3,121,607 3,784,278 (2) 275,881 2,930,089 124,209 4 General Expense 43,757 355,179 488,733 587,670 (27) 20,680 310,183 44,996 15 Total Expenses(before Operating Transfers) 3,177,909 36,465,180 32,986,489 38,542,498 11 3,233,359 32,211,484 4,253,695 13 Operating Transfer Operating Transfer/Other Funds 128,871 1,288,391 1,231,381 1,455,457 5 116,306 1,190,857 97,534 8 Utilities & Labor Donated 20,517 191,255 191,666 230,000 0 19,180 186,082 5,173 3 Total Operating Transfer 149,389 1,479,647 1,423,047 1,685,457 4 135,487 1,376,939 102,707 7 Net Income Profit(Loss) 391,374 248,247 1,472,590 2,047,494 (83) (55,833) 1,186,035 (937,788) (79) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 Water Revenue Operating Revenue Water Sales Total Operating Revenue Other Operating Revenue Interest/Dividend Income Customer Penalties Connection Fees Misc Revenue Total Other Revenue Total Revenue Expenses Production Expense Pumping Expense Distribution Expense Depreciation & Amortization Interest Expense Other Operating Expense Customer Accounts Expense Administrative Expense General Expense Total Expenses(before Operating Transfers) Operating Transfer Utilities & Labor Donated Total Operating Transfer Net Income Profit(Loss) 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% 291,424 2,570,884 2,193,989 2,444,916 17 256,529 2,751,766 (180,881) (7) 291,424 2,570,884 2,193,989 2,444,916 17 256,529 2,751,766 (180,881) (7) (2,973) (40,922) 30,000 36,000 (236) 883 23,393 (64,315) (275) 3,172 22,548 14,724 18,000 53 0 0 22,548 0 52,909 1,364,475 400,000 480,000 241 59,740 522,012 842,462 161 25,223 249,309 302,653 364,153 (18) 24,339 239,691 9,617 4 78,332 1,595,410 747,377 898,153 113 84,963 785,097 810,313 103 369,756 4,166,295 2,941,366 3,343,069 42 341,493 3,536,863 629,431 18 20,224 89,444 62,500 75,000 43 5,321 161,086 (71,642) (44) 43,803 478,839 469,166 563,000 2 33,996 426,831 52,008 12 21,138 259,776 273,250 323,100 (5) 28,297 252,901 6,875 3 91,956 921,121 962,199 1,199,123 (4) 94,317 955,474 (34,352) (4) 3,112 33,495 33,495 39,720 0 4,483 23,934 9,560 40 343 2,507 1,541 1,850 63 440 (45,524) 48,031 106 7,409 67,458 61,833 74,200 9 6,474 60,190 7,268 12 63,784 756,339 782,249 945,251 (3) 63,508 732,978 23,360 3 461 6,690 10,541 12,650 (37) 445 10,368 (3,678) (35) 252,234 2,615,675 2,656,777 3,233,895 (2) 237,287 2,578,242 37,432 1 539 539 1,250 1,500 (57) 0 1,258 (719) (57) 539 539 1,250 1,500 (57) 0 1,258 (719) (57) 116,982 1,550,080 283,339 107,673 447 104,206 957,361 592,718 62 Elk River Municipal Utilities Monthly Electrical Demand 80.0 75.0 70.0 65.0 2 60.0 _ 55.0 E m 0 50.0 45.0 40.0 35.0 �a°Jai � �` � C3�Q Month -2021—41,,,,,,a2022 Elk River Municipal Utilities Monthly Energy Purchases 40,000 35,000 i�000 30,000 � r 25,000 a 20,000 rn m w 15,000 g O Month -- --2021--,,*,,,,-2022 Elk River Municipal Utilities Monthly Total Electric Load 40,000 35,000 x g 30,000 m 0 J 25,000 0 W 20,000 15000 46 �6 Month ----2021 -m-2022 Elk River Municipal Utilities Monthly Electric Sales $5,000,000 $4,500,000 $4,000,000 L $3,500,000 m o $3,000,000 _ 0) 0 $2,500,000 m N $2,000,000 $1,500,000 $1,000,000 Month 5 -2021 -m-2022 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 25,000 20,000 15,000 10,000 00 5,000 Ja�J�c1 c1 PJqJy� ���c O°�o'0c oo '�c Month --$--2021 Residential -,,,,,2022 Residential--li,,-2021 Commercial 2022 Commercial--'---2021 Industrial—@I-2022 Industrial Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $3,000,000 $2,500,000 $2,000,000 _ $1,500,000 -—� --�,, in $1,000,000 u' $500,000 $0 Month ,«2021 Residential 2022 Residential--tim-2021 Commercial 2022 Commercial — :---2021 Industrial —e —2022 Industrial Elk River Municipal Utilities Monthly Water Pumpage 180.0 160.0 m 140.0" �N c 120.0 / 100.0 80.0 Q. E 60.0 L 40.0 20.0 0.0 -A o�`Ja6 Q Month --—•2021iw2022 Elk River Municipal Utilities Peak Day Pumpage 7.0 6.0 5.0 " io 4.0 .2 ♦i 3.0 000 00 p ...... " d� R 2.0 CL 1.0 0.0 Month -- —•2021—fli,,,,,,a2022 m Elk River Municipal Utilities Monthly Water Sales 180 $600,000 160 $500,000 140 ����t, �� nw "tlo � m"�*► 120 �" $400,000 0 100 c $300,000 80 ° ayi 60 $200,00000 ti 40 $100,000 20 0 $0 �4 �� P Qw Month ,,,,,,,,,,,2021 MG - 2022 MG - -2021 $ ,,,,,,12022 $ ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River ELECT SALES - ELK RIVER RESID 1,065,230 11,568,603 11,523,789 13,522,234 0 933,010 11,096,473 472,129 4 ELECT SALES - ELK RIVER NON-D 296,241 2,788,705 2,738,815 3,228,252 2 250,593 2,571,054 217,650 8 ELECT SALES - ELK RIVER DEMA 1,842,798 16,969,972 16,521,926 19,635,954 3 1,707,295 15,936,537 1,033,434 6 Total For Elk River: 3,204,270 31,327,280 30,784,531 36,386,442 2 2,890,899 29,604,065 1,723,214 6 Otsego ELECT SALES - OTSEGO RESIDEN 119,097 1,229,816 1,170,912 1,367,785 5 92,956 1,110,655 119,160 11 ELECT SALES - OTSEGO NON-DEM 45,689 420,854 362,704 423,970 16 38,802 375,738 45,116 12 ELECT SALES - OTSEGO DEMAND 123,701 1,170,844 944,889 1,123,576 24 101,177 1,043,657 127,186 12 Total For Otsego: 288,488 2,821,515 2,478,506 2,915,332 14 232,936 2,530,051 291,463 12 Rural Big Lake ELECT SALES - BIG LAKE RESIDE 15,290 166,558 175,899 206,219 (5) 12,512 160,506 6,052 4 ELECT SALES - BIG LAKE NON -DE 501 4,298 3,866 4,208 11 290 4,105 192 5 Total For Rural Big Lake: 15,791 170,857 179,766 210,427 (5) 12,802 164,612 6,245 4 Dayton ELECT SALES - DAYTON RESIDEN 15,840 177,140 183,107 213,485 (3) 13,509 168,507 8,633 5 ELECT SALES - DAYTON NON -DE 3,292 33,717 31,443 36,963 7 3,079 32,514 1,202 4 Total For Dayton: 19,133 210,857 214,550 250,448 (2) 16,589 201,022 9,835 5 Public St & Hwy Lighting ELECT SALES - SEC LTS 21,671 215,256 208,333 250,000 3 21,116 209,718 5,538 3 Total For Public St & Hwy Lighting: 21,671 215,256 208,333 250,000 3 21,116 209,718 5,538 3 Other Electric Sales SUB -STATION CREDIT 400 4,000 4,000 4,800 0 400 4,000 0 0 RATE INCREASE (111,714) 1,307,928 0 0 0 0 0 1,307,928 0 Total For Other Electric Sales: (111,314) 1,311,928 4,000 4,800 32,698 400 4,000 1,307,928 32,698 Total Operating Revenue 3,438,039 36,057,695 33,869,688 40,017,450 6 3,174,744 32,713,470 3,344,225 10 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME (15,570) (196,710) 66,666 80,000 (395) 4,475 54,462 (251,173) (461) Total For Interest/Dividend Income: (15,570) (196,710) 66,666 80,000 (395) 4,475 54,462 (251,173) (461) Customer Penalties CUSTOMER DELINQUENT PENALT 24,792 237,775 192,272 235,000 24 0 0 237,775 0 Total For Customer Penalties: 24,792 237,775 192,272 235,000 24 0 0 237,775 0 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% LFG Project LFG PROJECT 89,470 849,853 836,000 836,000 2 81,650 857,255 (7,402) (1) Total For LFG Project: 89,470 849,853 836,000 836,000 2 81,650 857,255 (7,402) (1) Connection Fees DISCONNECT & RECONNECT CHA 25,467 178,462 180,000 220,000 (1) 15,975 218,975 (40,512) (19) Total For Connection Fees: 25,467 178,462 180,000 220,000 (1) 15,975 218,975 (40,512) (19) Misc Revenue MISC ELEC REVENUE - TEMP CHG 590 4,970 1,666 2,000 198 0 2,462 2,507 102 STREET LIGHT 0 6,425 15,000 20,000 (57) 0 51,590 (45,165) (88) TRANSMISSION INVESTMENTS 48,025 521,634 500,000 600,000 4 27,454 422,574 99,060 23 MISC NON -UTILITY 54,759 174,463 75,000 90,000 133 8,712 88,307 86,156 98 GAIN ON DISPOSITION OF PROPER 45,000 78,538 0 0 0 0 0 78,538 0 CONTRIBUTIONS FROM CUSTOME 8,098 279,967 145,833 175,000 92 0 365,363 (85,396) (23) Total For Misc Revenue: 156,473 1,065,998 737,500 887,000 45 36,166 930,297 135,701 15 Total Other Revenue 280,633 2,135,379 2,012,439 2,258,000 6 138,267 2,060,990 74,389 4 Total For Total Other Revenue: 280,633 2,135,379 2,012,439 2,258,000 6 138,267 2,060,990 74,389 4 Total Revenue 3,718,673 38,193,075 35,882,127 42,275,450 6 3,313,012 34,774,460 3,418,614 10 Expenses Purchased Power PURCHASED POWER 2,212,210 27,087,318 23,412,769 27,017,920 16 2,393,971 23,613,485 3,473,833 15 Total For Purchased Power: 2,212,210 27,087,318 23,412,769 27,017,920 16 2,393,971 23,613,485 3,473,833 15 Operating & Mtce Expense OPERATING SUPERVISION 13,468 110,340 119,166 143,000 (7) 8,192 91,041 19,298 21 DIESEL OIL FUEL 45 1,885 8,333 10,000 (77) 798 5,360 (3,474) (65) NATURAL GAS 903 13,361 12,300 17,500 9 530 18,968 (5,606) (30) ELECTRIC & WATER CONSUMPTI 1,895 26,110 23,500 30,000 11 1,808 21,589 4,520 21 PLANT SUPPLIES & OTHER EXPEN 3,143 8,486 10,833 13,000 (22) 36 9,921 (1,434) (14) MISC POWER GENERATION EXPE 171 3,779 6,666 8,000 (43) 272 5,976 (2,197) (37) MAINTENANCE OF STRUCTURE - 552 11,581 12,500 15,000 (7) 999 9,434 2,147 23 MTCE OF PLANT ENGINES/GENER 529 10,773 20,833 25,000 (48) 683 22,898 (12,125) (53) MTCE OF PLANT/LAND IMPROVE 197 14,152 23,625 30,000 (40) 490 17,048 (2,895) (17) Total For Operating & Mtce Expense: 20,908 200,469 237,758 291,500 (16) 13,812 202,238 (1,768) (1) Landfill Gas 90 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% LANDFILL GAS PLANT PURCHASE 13,584 136,879 151,794 151,794 (10) 14,389 144,643 (7,764) (5) LANDFILL GAS PLANT OPERATIO 41,518 395,634 415,187 415,187 (5) 43,229 432,578 (36,943) (9) LANDFILL GAS PLANT ADMINIST 169 2,431 25,550 25,550 (90) 277 4,552 (2,120) (47) LANDFILL GAS PLANT INSURANC 1,948 17,535 19,950 19,950 (12) 1,623 16,141 1,393 9 LANDFILL GAS PLANT MTCE 160 1,295 650 650 99 117 2,570 (1,275) (50) Total For Landfill Gas: 57,380 553,776 613,131 613,131 (10) 59,637 600,487 (46,710) (8) Transmission Expense TRANSMISSION MTCE AND EXPE 4,533 54,030 55,583 66,700 (3) 4,700 53,021 1,009 2 Total For Transmission Expense: 4,533 54,030 55,583 66,700 (3) 4,700 53,021 1,009 2 Distribution Expense REMOVE EXISTING SERVICE & M 0 194 2,083 2,500 (91) 0 397 (202) (51) SCADA EXPENSE 2,701 34,722 36,666 44,000 (5) 2,972 34,682 40 0 TRANSFORMER EXPENSE OH & U 1,639 10,672 10,833 13,000 (1) 730 8,654 2,017 23 MTCE OF SIGNAL SYSTEMS 0 1,815 1,666 2,000 9 0 954 860 90 METER EXPENSE - REMOVE & RE 0 582 833 1,000 (30) 0 1,163 (581) (50) TEMP SERVICE - INSTALL & REM 101 3,298 1,666 2,000 98 64 1,787 1,511 85 M1SC DISTRIBUTION EXPENSE 25,181 249,673 233,333 280,000 7 12,820 222,067 27,605 12 INTERCONNECTION CARRYING C 0 0 2,013 2,416 (100) 0 0 0 0 Total For Distribution Expense: 29,623 300,959 289,096 346,916 4 16,587 269,707 31,251 12 Maintenance Expense MTCE OF STRUCTURES 2,206 21,950 25,000 30,000 (12) 2,170 21,121 828 4 MTCE OF SUBSTATIONS 3,941 38,362 21,666 26,000 77 0 11,684 26,678 228 MTCE OF SUBSTATION EQUIPME 6,349 38,254 57,500 69,000 (33) 6,718 65,744 (27,490) (42) MTCE OF OH LINES/TREE TRIM 1,332 113,381 181,000 225,000 (37) 0 57,763 55,618 96 MTCE OF OH LINES/STANDBY 2,935 28,529 30,000 36,000 (5) 2,980 30,390 (1,860) (6) MTCE OF OH PRIMARY 18,927 165,194 141,666 170,000 17 17,190 130,865 34,328 26 MTCE OF URD PRIMARY 14,112 173,214 137,500 165,000 26 17,438 153,941 19,272 13 LOCATE ELECTRIC LINES 9,209 85,306 87,583 105,100 (3) 8,443 88,599 (3,292) (4) LOCATE FIBER LINES 163 782 833 1,000 (6) 7 277 505 183 MTCE OF LINE TRANSFORMERS 13,016 36,897 50,000 60,000 (26) 3,397 48,293 (11,396) (24) MTCE OF STREET LIGHTING 3,113 41,059 37,500 45,000 9 1,703 12,282 28,777 234 MTCE OF SECURITY LIGHTING 6,250 20,075 8,333 10,000 141 1,984 10,760 9,315 87 MTCE OF METERS 6,088 68,115 66,666 80,000 2 5,000 52,768 15,346 29 VOLTAGE COMPLAINTS 906 6,443 8,333 10,000 (23) 0 7,049 (606) (9) SALARIES TRANSMISSION & DIST 2,481 23,514 25,000 30,000 (6) 1,968 21,593 1,920 9 91 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% ELECTRIC MAPPING 5,465 73,004 75,000 90,000 (3) 5,519 66,082 6,922 10 MTCE OF OH SECONDARY 1,711 17,797 20,833 25,000 (15) 1,154 17,723 73 0 MTCE OF URD SECONDARY 4,590 53,446 41,666 50,000 28 3,421 40,515 12,931 32 TRANSPORTATION EXPENSE 16,837 232,981 200,000 240,000 16 14,911 194,594 38,386 20 Total For Maintenance Expense: 119,639 1,238,312 1,216,083 1,467,100 2 94,012 1,032,052 206,260 20 Depreciation & Amortization DEPRECIATION 230,479 1,977,973 1,977,387 2,436,698 0 192,711 1,906,061 71,912 4 AMORTIZATION 55,677 556,779 556,779 668,135 0 55,677 556,779 0 0 Total For Depreciation & Amortization: 286,157 2,534,753 2,534,166 3,104,833 0 248,389 2,462,840 71,912 3 Interest Expense INTEREST EXPENSE - BONDS 74,413 758,248 758,248 906,275 0 79,906 658,682 99,566 15 INTEREST EXPENSE - DEFEASED 0 0 0 0 0 0 (276) 276 100 AMORTIZATION OF DEBT DISCOU (4,988) (50,788) (50,638) (60,765) 0 (5,892) (49,524) (1,264) (3) Total For Interest Expense: 69,424 707,459 707,610 845,509 0 74,014 608,880 98,578 16 Other Operating Expense EV CHARGING EXPENSE 505 5,634 3,533 4,240 59 337 3,337 2,296 69 LOSS ON DISPOSITION OF PROP (C 0 0 10,416 12,500 (100) 0 45,213 (45,213) (100) OTHER DONATIONS 198 3,681 2,500 3,000 47 0 918 2,763 301 DAM MAINTENANCE EXPENSE 29 29 0 0 0 0 0 29 0 MUTUAL AID 17,062 36,690 0 0 0 0 6,860 29,829 435 PENSION EXPENSE 0 0 0 45,000 0 0 0 0 0 OPEB EXPENSE 0 0 0 0 0 0 (208,273) 208,273 100 OTHER INTEREST EXPENSE 378 4,132 0 0 0 730 (2,440) 6,572 269 INTEREST EXPENSE - METER DEP 168 1,658 1,666 2,000 0 75 738 920 125 Total For Other Operating Expense: 18,342 51,826 18,116 66,740 186 1,142 (153,645) 205,472 134 Customer Accounts Expense METER READING EXPENSE 4,157 40,587 35,083 42,100 16 4,140 37,303 3,283 9 DISCONNECT/RECONNECT EXPEN 158 20,056 13,416 16,100 49 1,463 14,434 5,622 39 MISC CUSTOMER ACCOUNTS EXP 27,742 253,223 226,666 272,000 12 23,986 224,486 28,736 13 BAD DEBT EXPENSE & RECOVER 5,424 12,927 16,666 20,000 (22) 937 5,918 7,008 118 Total For Customer Accounts Expense: 37,483 326,795 291,833 350,200 12 30,528 282,143 44,651 16 Administrative Expense SALARIES OFFICE & COMMISSION 71,854 670,144 716,666 860,000 (6) 67,035 671,031 (887) 0 SALARIES COVID-19 0 0 0 0 0 0 21,040 (21,040) (100) TEMPORARY STAFFING 0 0 3,333 4,000 (100) 0 0 0 0 Electric ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% OFFICE SUPPLIES 5,402 58,496 89,166 107,000 (34) 7,159 59,995 (1,498) (2) ELECTRIC & WATER CONSUMPTI 1,946 21,771 24,166 29,000 (10) 1,953 21,050 720 3 BANK FEES 141 1,580 2,083 2,500 (24) 178 1,880 (299) (16) LEGAL FEES 4,337 28,679 26,666 32,000 8 2,006 19,396 9,282 48 AUDITING FEES 1,503 15,033 15,033 18,040 0 1,413 14,133 900 6 INSURANCE 14,425 149,283 152,403 182,884 (2) 13,262 131,102 18,181 14 UTILITY SHARE - DEFERRED COM 5,000 101,584 102,916 123,500 (1) 6,423 94,367 7,217 8 UTILITY SHARE- MEDICAUDENT 67,108 725,684 725,166 847,000 0 54,663 653,336 72,348 11 UTILITY SHARE - PERA 23,906 232,191 233,333 280,000 0 21,921 219,525 12,666 6 UTILITY SHARE - FICA 23,544 225,173 220,833 265,000 2 20,575 210,756 14,417 7 EMPLOYEE SICK PAY 11,869 124,904 110,854 133,025 13 15,801 111,404 13,499 12 EMPLOYEE HOLIDAY PAY 0 67,014 80,176 146,991 (16) 0 76,147 (9,133) (12) EMPLOYEE VACATION & PTO PA 18,350 218,452 196,869 231,961 11 24,084 194,196 24,256 12 UPM1C DISTRIBUTION 0 49,029 45,000 60,000 9 0 42,540 6,489 15 LONGEVITY PAY 0 2,790 0 0 0 0 0 2,790 0 CONSULTING FEES 0 54,690 45,833 55,000 19 1,850 30,746 23,943 78 TELEPHONE 3,986 30,815 26,083 31,300 18 2,822 25,700 5,115 20 ADVERTISING 456 11,286 10,833 13,000 4 2,040 11,884 (597) (5) DUES & SUBSCRIPTIONS - FEES 4,426 97,903 108,637 130,365 (10) 9,613 207,336 (109,432) (53) SCHOOLS & MEETINGS 19,579 161,693 179,300 224,212 (10) 22,479 106,550 55,143 52 MTCE OF GENERAL PLANT & OFFI 609 6,094 6,250 7,500 (2) 596 5,965 129 2 Total For Administrative Expense: 278,448 3,054,299 3,121,607 3,784,278 (2) 275,881 2,930,089 124,209 4 General Expense CIP REBATES - RESIDENTIAL CIP REBATES - COMMERCIAL CIP - ADMINISTRATION CIP - MARKETING CIP - LABOR CIP REBATES - LOW INCOME CIP - LOW INCOME LABOR ENVIRONMENTAL COMPLIANCE MISC GENERAL EXPENSE Total For General Expense: Total Expenses(before Operating Transfers) 8,609 48,366 48,255 57,907 0 3,529 36,075 12,291 34 14,968 107,575 193,500 232,200 (44) 0 75,332 32,243 43 424 7,565 71,084 85,301 (89) 424 4,569 2,996 66 3,533 26,275 39,166 47,000 (33) 1,315 23,790 2,484 10 13,939 127,102 83,760 100,512 52 12,031 121,704 5,397 4 0 4,185 15,416 18,500 (73) 0 6,635 (2,450) (37) 944 8,686 8,125 9,750 7 919 8,789 (103) (1) 2,621 26,630 27,341 34,000 (3) 2,456 27,358 (728) (3) (1,282) (1,206) 2,083 2,500 (158) 3 5,928 (7,135) (120) 43,757 355,179 488,733 587,670 (27) 20,680 310,183 44,996 15 3,177,909 36,465,180 32,986,489 38,542,498 11 3,233,359 32,211,484 4,253,695 13 93 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R Total For Operating Transfer/Other Funds: Utilities & Labor Donated UTILITIES & LABOR DONATED TO Total For Utilities & Labor Donated: Total Operating Transfer Total For Total Operating Transfer: Net Income Profit(Loss) 2021 YTD 2021 v. 2022 YTD VARIANCE Actual Var% 128,871 1,288,391 1,231,381 1,455,457 5 116,306 1,190,857 97,534 8 128,871 1,288,391 1,231,381 1,455,457 5 116,306 1,190,857 97,534 8 20,517 191,255 191,666 230,000 0 19,180 186,082 5,173 3 20,517 191,255 191,666 230,000 0 19,180 186,082 5,173 3 149,389 1,479,647 1,423,047 1,685,457 4 1,376,939 102,707 7 135,487 391,374 248,247 1,472,590 2,047,494 (83) 1,186,035 (937,788) (79) (55,833) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER Revenue Operating Revenue Water Sales WATER SALES RESIDENTIAL WATER SALES COMMERCIAL WATER SALES IRRIGATION Total For Water Sales: Total Operating Revenue Total For Total Operating Revenue: Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME OTHER INTEREST/MISC REVENUE Total For Interest/Dividend Income: Customer Penalties CUSTOMER PENALTIES Total For Customer Penalties: Connection Fees WATER/ACCESS/CONNECTION FE CUSTOMER CONNECTION FEES BULK WATER SALES/HYDRANT R Total For Connection Fees: Misc Revenue MISC NON -UTILITY MISCELLANEOUS REVENUE HYDRANT MAINTENANCE PROGR CONTRIBUTIONS FROM DEVELOP WATER TOWER LEASE Total For Misc Revenue: Total Other Revenue Total For Total Other Revenue: 2021 YTD 2021 v. 2022 YTD VARIANCE Actual Var% 142,148 1,474,373 1,209,739 1,359,866 22 128,780 1,586,135 (111,761) (7) 102,652 809,411 749,980 842,024 8 96,452 816,373 (6,961) (1) 46,623 287,099 234,269 243,025 23 31,296 349,257 (62,158) (18) 291,424 2,570,884 2,193,989 2,444,916 17 256,529 2,751,766 (180,881) (7) 291,424 2,570,884 2,193,989 2,444,916 17 256,529 2,751,766 (180,881) (7) 291,424 2,570,884 2,193,989 2,444,916 17 256,529 2,751,766 (180,881) (7) (2,973) (41,514) 29,166 35,000 (242) 883 22,711 (64,226) (283) 0 592 833 1,000 (29) 0 681 (88) (13) (2,973) (40,922) 30,000 36,000 (236) 883 23,393 (64,315) (275) 3,172 22,548 14,724 18,000 53 0 0 22,548 0 3,172 22,548 14,724 18,000 53 0 0 22,548 0 45,390 1,297,321 358,333 430,000 262 53,091 474,775 822,545 173 2,168 52,741 29,166 35,000 81 5,016 36,804 15,936 43 5,351 14,413 12,500 15,000 15 1,632 10,432 3,980 38 52,909 1,364,475 400,000 480,000 241 59,740 522,012 842,462 161 0 110 0 0 0 0 31 79 255 0 287 0 0 0 0 882 (594) (67) 975 11,254 10,833 13,000 4 975 9,780 1,474 15 0 0 54,166 65,000 (100) 0 0 0 0 24,248 237,656 237,653 286,153 0 23,364 228,997 8,658 4 25,223 249,309 302,653 364,153 (18) 24,339 239,691 9,617 4 78,332 1,595,410 747,377 898,153 113 84,963 785,097 810,313 103 78,332 1,595,410 747,377 898,153 113 84,963 785,097 810,313 103 Total Revenue 369,756 4,166,295 2,941,366 3,343,069 42 341,493 3,536,863 629,431 18 95 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER Expenses Production Expense MTCE OF STRUCTURES Total For Production Expense: Pumping Expense 2021 YTD 20,224 89,444 62,500 75,000 43 5,321 161,086 20,224 89,444 62,500 75,000 43 5,321 161,086 YTD 2021 v. 2022 VARIANCE Actual Var% (71,642) (44) (71,642) (44) SUPERVISION 6,307 54,118 55,000 66,000 (2) 4,852 47,559 6,558 14 ELECTRIC & GAS UTILITIES 19,455 237,906 225,000 270,000 6 15,859 224,780 13,125 6 SAMPLING 1,274 11,685 12,500 15,000 (7) 1,551 11,287 398 4 CHEMICAL FEED 8,165 33,503 30,000 36,000 12 1,272 32,608 895 3 MTCE OF ELECTRIC PUMPING EQ 0 46 0 0 0 0 161 (115) (71) MTCE OF WELLS 8,311 132,256 133,333 160,000 (1) 10,038 105,674 26,581 25 SCADA - PUMPING 287 9,323 13,333 16,000 (30) 422 4,759 4,564 96 Total For Pumping Expense: 43,803 478,839 469,166 563,000 2 33,996 426,831 52,008 12 Distribution Expense MTCE OF WATER MAINS 7,786 73,382 100,000 120,000 (27) 8,034 92,658 (19,276) (21) LOCATE WATER LINES 1,215 10,378 14,166 17,000 (27) 2,099 14,397 (4,018) (28) MTCE OF WATER SERVICES 0 897 0 0 0 0 0 897 0 WATER METER SERVICE 5,100 64,055 45,833 55,000 40 7,879 51,553 12,502 24 BACKFLOW DEVICE INSPECTION 48 10,765 13,400 15,000 (20) 975 7,276 3,489 48 MTCE OF CUSTOMERS SERVICE 2,323 23,591 25,416 30,500 (7) 2,435 23,648 (56) 0 WATER MAPPING 395 9,319 10,416 12,500 (11) 385 7,614 1,705 22 MTCE OF WATER HYDRANTS - PU 1,655 16,347 15,000 18,000 9 1,220 11,704 4,642 40 MTCE OF WATER HYDRANTS - PR 300 4,120 4,166 5,000 (1) 1,555 3,135 985 31 WATER CLOTHING/PPE 216 7,514 5,833 7,000 29 2,080 12,026 (4,512) (38) WAGES WATER 1,005 7,177 7,916 9,500 (9) 467 5,231 1,946 37 TRANSPORTATION EXPENSE 1,089 13,856 12,500 15,000 11 1,163 8,780 5,075 58 WATER PERMIT 0 18,370 18,600 18,600 (1) 0 14,875 3,494 23 Total For Distribution Expense: 21,138 259,776 273,250 323,100 (5) 28,297 252,901 6,875 3 Depreciation & Amortization DEPRECIATION 91,956 921,121 962,199 1,199,123 (4) 94,317 955,474 (34,352) (4) Total For Depreciation & Amortization: 91,956 921,121 962,199 1,199,123 (4) 94,317 955,474 (34,352) (4) Interest Expense INTEREST EXPENSE - BONDS 3,666 39,037 39,037 46,371 0 5,037 26,220 12,816 49 INTEREST EXPENSE - DEFEASED 0 0 0 0 0 0 (69) 69 100 AMORTIZATION OF DEBT DISCOU (554) (5,542) (5,542) (6,651) 0 (554) (2,216) (3,325) (150) 96 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% Total For Interest Expense: 3,112 33,495 33,495 39,720 0 4,483 23,934 9,560 40 Other Operating Expense DAM MAINTENANCE EXPENSE 244 1,430 1,458 1,750 (2) 256 (411) 1,841 448 OPEB EXPENSE 0 0 0 0 0 0 (44,525) 44,525 100 OTHER INTEREST EXPENSE 94 1,033 0 0 0 182 (609) 1,642 269 INTEREST EXPENSE - METER DEP 4 44 83 100 (47) 2 22 22 100 Total For Other Operating Expense: 343 2,507 1,541 1,850 63 440 (45,524) 48,031 106 Customer Accounts Expense METER READING EXPENSE 214 2,029 2,083 2,500 (3) 190 1,937 91 5 MISC CUSTOMER ACCOUNTS EXP 7,194 65,401 59,333 71,200 10 6,284 58,252 7,149 12 BAD DEBT EXPENSE & RECOVER 0 28 416 500 (93) 0 0 28 0 Total For Customer Accounts Expense: 7,409 67,458 61,833 74,200 9 6,474 60,190 7,268 12 Administrative Expense SALARIES OFFICE & COMMISSION 20,925 195,262 195,833 235,000 0 19,322 194,040 1,221 1 SALARIES COVID-19 0 0 0 0 0 0 1,791 (1,791) (100) TEMPORARY STAFFING 0 0 833 1,000 (100) 0 0 0 0 OFFICE SUPPLIES 1,278 12,011 19,750 23,700 (39) 3,749 21,881 (9,869) (45) ELECTRIC & WATER CONSUMPTI 486 5,442 6,666 8,000 (18) 488 5,262 180 3 BANK FEES 34 410 583 700 (30) 44 482 (72) (15) LEGAL FEES 732 5,974 6,666 8,000 (10) 501 4,301 1,673 39 AUDITING FEES 375 3,758 3,758 4,510 0 353 3,533 225 6 INSURANCE 2,934 27,761 22,500 27,000 23 2,217 21,290 6,471 30 UTILITY SHARE - DEFERRED COM 638 17,813 23,333 28,000 (24) 1,629 15,538 2,274 15 UTILITY SHARE - MEDICAL/DENT 16,531 189,637 185,030 217,000 2 14,070 161,905 27,732 17 UTILITY SHARE- PERA 4,537 44,538 42,500 51,000 5 4,138 40,802 3,735 9 UTILITY SHARE - FICA 4,401 42,849 40,833 49,000 5 3,901 39,191 3,658 9 EMPLOYEE SICK PAY 2,482 21,605 25,000 30,000 (14) 2,782 20,358 1,247 6 EMPLOYEE HOLIDAY PAY 0 11,954 15,272 28,000 (22) 0 14,309 (2,354) (16) EMPLOYEE VACATION & PTO PA 3,123 38,614 35,000 41,000 10 3,998 34,967 3,647 10 UPMIC DISTRIBUTION 0 9,904 8,250 11,000 20 0 8,010 1,893 24 WELLHEAD PROTECTION 0 4,724 20,000 20,000 (76) 0 1,888 2,835 150 LONGEVITY PAY 0 310 0 0 0 0 0 310 0 CONSULTING FEES 472 19,882 16,666 20,000 19 0 19,299 583 3 TELEPHONE 923 7,227 5,666 6,800 28 695 5,992 1,234 21 ADVERTISING 114 2,693 4,166 5,000 (35) 510 3,349 (656) (20) 97 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2022 2022 2022 2022 2022 YTD ANNUAL 2022 YTD 2021 2021 YTD 2021 v. 2022 Water OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER YTD VARIANCE Actual Var% DUES & SUBSCRIPTIONS - FEES (29) 57,922 56,500 73,615 3 1,215 90,430 (32,508) (36) SCHOOLS & MEETINGS 3,667 34,514 45,854 55,025 (25) 3,740 22,860 11,654 51 MTCE OF GENERAL PLANT & OFFI 152 1,523 1,583 1,900 (4) 149 1,491 32 2 Total For Administrative Expense: 63,784 756,339 782,249 945,251 (3) 63,508 732,978 23,360 3 General Expense CIP REBATES - RESIDENTIAL 0 834 3,750 4,500 (78) 25 4,864 (4,030) (83) CIP REBATES - COMMERCIAL 0 0 416 500 (100) 0 0 0 0 CIP - MARKETING 0 613 416 500 47 0 121 491 402 CIP - LABOR 407 3,760 3,916 4,700 (4) 372 3,714 46 1 ENVIRONMENTAL COMPLIANCE 53 1,481 1,833 2,200 (19) 48 857 624 73 MISC GENERAL EXPENSE 0 0 208 250 (100) 0 809 (809) (100) Total For General Expense: 461 6,690 10,541 12,650 (37) 445 10,368 (3,678) (35) Total Expenses(before Operating Transfers) 252,234 2,615,675 2,656,777 3,233,895 (2) 237,287 2,578,242 37,432 1 Operating Transfer Utilities & Labor Donated WATER & LABOR DONATED TO Cl 539 539 1,250 1,500 (57) 0 1,258 (719) (57) Total Operating Transfer Total For Total Operating Transfer: 539 539 1,250 1,500 (57) 0 1,258 (719) (57) Net Income Profit(Loss) 116,982 1,550,080 283,339 107,673 447 592,718 62 104,206 957,361