5.3c ERMUSR 02-14-2023ELK RIVER MUNICIPAL UTILITIES SUMMARY OF YEAR 2022
BUDGET vs ACTUAL (UNAUDITED)
ELECTRIC BUDGET SUMMARY
2022 Budget
2022 Actual
ELECTRIC REVENUE
$ 42,275,451
$ 44,930,741
ELECTRIC EXPENDITURES
(40,227,956)
(44,531,464)
ELECTRIC NET FOR CAPITAL
2,047,495
4.84%
399,277 0.89%
DEBT RETIREMENT
(1,055,000)
(1,055,000)
PROMISSORY NOTE TO COUNTY
(209,124)
(209,124)
NET LESS DEBT PRINCIPAL PMTS
783,371
(864,847)
CAPITAL EQUIPMENT/CONSTRUCTION
(6,153,305)
(8,798,386)
FUND FROM RESERVES
500,000 *
Hwy 169 Redefine
69,535
FUND FROM RESERVES
1,000,000 *
Hwy 10 Substation
-
FUND FROM RESERVES
500,000 *
AMI
-
FUND FROM RESERVES
884,185 *
Area 1&2, 3&4 5&6 Loss of Revenue
924,187
FUND FROM RESERVES
- *
PCA
500,000
BONDING
Reserves from Field Services Building
6,205,968
NET
(2,485,749)
(3,387,730)
DEPRECIATION
3,104,833
3,032,667
NET TO RESERVES
$ 619,084 *
$ (355,063)
WATER BUDGET SUMMARY
2022 Budget
2022 Actual
WATER REVENUE
$ 3,343,069
$ 5,483,580
WATER EXPENDITURES
(3,235,395)
(3,140,584)
WATER NET FOR CAPITAL
107,674
3.22%
2,342,996 42.73%
DEBT RETIREMENT
(320,000)
(320,000)
NET LESS DEBT PRINCIPAL PMTS
(212,326)
2,022,996
CAPITAL EQUIPMENT/CONSTRUCTION
(1,725,655)
(3,481,870)
FUND FROM RESERVES
1,201,575 *
Highway 169 Redefine
937,673
FUND FROM DEVELOPER CONTRIBUTIONS
-
676,553
BONDING
Reserves from Field Services Building
886,567
NET
(736,406)
1,041,920
DEPRECIATION
1,199,124
1,111,069
NET TO RESERVES
$ 462,718 *
$ 2,152,989
* Currently, target reserves are met.