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5.1 ERMUSR 03-14-2023Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: March 14, 2023 5.1 SUBJECT: Financial Report —January 2023 ACTION REQUESTED: Receive the January 2023 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric January's electric kWh sales are down from the prior year, (2%). For further breakdown: • Residential usage is up 1% • Small Commercial usage is up 10% • Large Commercial usage is down (6%) o We conducted our first annual internal audit of demand customers who had less than 50kw usage for the last 12 consecutive months and determined whether they should be reclassed to a non -demand customer. This will be done on an annual basis going forward but should result in less of an impact. Electric Operating Revenues are more than prior year due to 2023 Power Cost Adjustment revenue of $189k. Other Revenues are less than prior year due to retirement of the landfill gas project in 2022 ($92k). This will continue for the remainder of the year. Overall, Total Revenues are more than prior year but unfavorable to budget. Total Purchased Power is less than prior year ($143k) mainly due to decreased usage. Current year Energy Adjustment Clause is ($37k) less than prior year. The landfill gas plant was retired in October of 2022. Expenses will continue to show for the reminder of the year due to prior year variance. . : Maintenance expense is more than prior year due mainly to increased tree trimming expense, but favorable to budget. Contracted tree trimming is a budgeted item in 2023 as it was in 2022, but due to staffing not as much work was completed in 2022 as originally planned. Administrative Expenses are more than prior year $69k with the main drivers being medical insurance and holiday pay (2 days in 2023 compared to 1 in 2022). Total administrative expenses are in line with budget. Sick pay is unfavorable to budget due to benefit payout for retired employee. Total Expenses are ($67k) less than prior year and favorable to budget ($189k). For January 2023, the Electric Department overall is ahead of prior year and favorable to budget. Water January gallons of water sold are up 1% from the prior year. For further breakdown: • Residential use is down less than (1%) • Commercial use is up 3% Water Operating Revenues are slightly more than the prior year and favorable to budget. Other Revenues are ($30k) less than prior year and unfavorable to budget ($32k) due to Water Tower Lease revenue and Connection Fees. With the new Government Accounting Standards Board standard, we will be recognizing water tower lease revenue on an annual basis in December (instead of monthly throughout the year). Overall, Total Revenues are less than prior year and unfavorable to budget. Distribution expense is more than prior year due to a water main repair and timing issue for water permit but in line with budget. Total Expenses are $57k more than prior year but favorable to budget ($20k). For January 2023, the Water Department overall is behind prior year but favorable to budget. ATTACHMENTS: • Balance Sheet 01.2023 • Electric Balance Sheet 01.2023 • Water Balance Sheet 01.2023 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 01.2023 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 01.2023 • Graphs Prior Year and YTD 2023 169 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 01.2023 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 01.2023 170 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING JANUARY 2023 ASSETS CURRENT ASSETS CASH ACCOUNTS RECEIVABLE INVENTORIES PREPAID ITEMS CONSTRUCTION IN PROGRESS TOTAL CURRENT ASSETS RESTRICTED ASSETS BOND RESERVE FUND EMERGENCY RESERVE FUND UNRESTRICTED RESERVE FUND TOTAL RESTRICTED ASSETS FIXED ASSETS PRODUCTION LFG PROJECT TRANSMISSION DISTRIBUTION GENERAL FIXED ASSETS (COST) LESS ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS, NET INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY -IN LOSS OF REVENUE INTANGIBLE LESS ACCUMULATED AMORTIZATION TOTAL INTANGIBLE ASSETS, NET OTHER ASSETS AND DEFERRED OUTFLOWS TOTAL ASSETS LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTSPAYABLE SALARIES AND BENEFITS PAYABLE DUE TO CITY DUE TO OTHER FUNDS NOTES PAYABLE -CURRENT PORTION BONDS PAYABLE -CURRENT PORTION UNEARNED REVENUE TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES OPEB LIABILITY LFG PROJECT DUE TO COUNTY DUE TO CITY BONDS PAYABLE, LESS CURRENT PORTION PENSION LIABILITIES TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES FUND EQUITY CAPITAL ACCOUNT CONST COST CONTRIBUTED CAPITAL RETAINED EARNINGS NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) TOTAL FUND EQUITY TOTAL LIABILITIES & FUND EQUITY ELECTRIC 12,246,486 3,013,854 1,296,333 285,854 912,849 17,755,375 1,779,016 2,902,770 0 4,681,786 824,065 0 2,305,024 46,756,375 22,995,206 72,880,670 (32,348,106) 40,532,564 21,546,212 5,290,120 (2,894,102) 23,942,230 1,187,557 88,099,512 5,809,581 655,512 858,676 0 0 915,000 21,972 8,260,742 0 0 0 0 29,270,136 3,789,381 33,059,517 41,320,259 54,129 1,779,016 0 45,204,945 (258,836) 46,725,125 88,099,512 WATER 8,751,940 449,706 27,424 54,852 942,826 10,226,747 0 1,354,133 0 1,354,133 16,510,965 0 0 26,724,925 1,124,475 44,360,365 (22,204,868) 22,155,496 0 0 0 0 226,587 33,962,964 557,713 152,402 53,742 0 0 60,000 174,926 998,782 0 0 0 0 1,628,042 725,038 2,353,080 3,351,862 9,723 0 0 30,767,677 (166,299) 30,601,378 33,962,964 171 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA ELECTRIC BALANCE SHEET ASSETS CURRENT ASSETS CASH ACCOUNTS RECEIVABLE INVENTORIES PREPAID ITEMS CONSTRUCTION IN PROGRESS TOTAL CURRENT ASSETS RESTRICTED ASSETS BOND RESERVE FUND EMERGENCY RESERVE FUND TOTAL RESTRICTED ASSETS FIXED ASSETS PRODUCTION TRANSMISSION DISTRIBUTION GENERAL FIXED ASSETS (COST) LESS ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS, NET INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY -IN LOSS OF REVENUE INTANGIBLE LESS ACCUMULATED AMORTIZATION TOTAL INTANGIBLE ASSETS, NET OTHER ASSETS AND DEFERRED OUTFLOWS TOTAL ASSETS LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE SALARIES AND BENEFITS PAYABLE DUE TO CITY BONDS PAYABLE -CURRENT PORTION UNEARNED REVENUE TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES BONDS PAYABLE, LESS CURRENT PORTION PENSION LIABILITIES TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES FUND EQUITY CAPITAL ACCOUNT CONST COST RETAINED EARNINGS NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) TOTAL FUND EQUITY TOTAL LIABILITIES & FUND EQUITY January 31, 2023 12,246,486 3,013,854 1,296,333 285,854 912,849 17,755,375 1,779,016 2,902,770 4,681,786 824,065 2,305,024 46,756,375 22,995,206 72,880,670 (32,348,106) 40,532,564 December 31, 2022 11,994,168 3,728,133 1,111,834 256,387 1,361,931 18,452,454 1,779,016 2,901,679 4,680,694 824,065 2,305,024 46,705,080 22,930,110 72,764,279 (32,138,756) 40,625,524 Current Month Change from 252,318 (714,279) 184,499 29,467 (449,083) (697,079) 0 1,092 1,092 0 0 51,295 65,096 116,391 (209,350) (92,960) 21,546,212 21,546,212 0 5,290,120 5,290,120 0 (2,894,102) (2,838,424) (55,678) 23,942,230 23,997,908 (55,678) 1,187,557 1,187,557 0 88,099,512 88,944,138 (844,625) 5,809,581 6,306,704 (497,122) 655,512 598,457 57,056 858,676 1,021,382 (162,706) 915,000 915,000 0 21,972 0 21,973 8,260,742 8,841,542 (580,800) 29,270,136 29,275,124 (4,989) 3,789,381 3,789,381 0 33,059,517 33,064,505 (4,989) 41,320,259 41,906,048 (585,789) 54,129 54,129 0 1,779,016 1,779,016 0 45,204,945 45,088,631 116,314 (258,836) 116,314 (375,150) 46,725,125 46,983,961 (258,836) 88,099,512 88,944,138 (844,625) 172 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA WATER BALANCE SHEET ASSETS CURRENT ASSETS CASH ACCOUNTS RECEIVABLE INVENTORIES PREPAID ITEMS CONSTRUCTION IN PROGRESS TOTAL CURRENT ASSETS RESTRICTED ASSETS EMERGENCY RESERVE FUND TOTAL RESTRICTED ASSETS FIXED ASSETS PRODUCTION DISTRIBUTION GENERAL FIXED ASSETS (COST) LESS ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS, NET INTANGIBLE ASSETS OTHER ASSETS AND DEFERRED OUTFLOWS TOTAL ASSETS LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE SALARIES AND BENEFITS PAYABLE DUE TO CITY BONDS PAYABLE -CURRENT PORTION UNEARNED REVENUE TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES BONDS PAYABLE, LESS CURRENT PORTION PENSION LIABILITIES TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES FUND EQUITY RETAINED EARNINGS NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) TOTAL FUND EQUITY TOTAL LIABILITIES & FUND EQUITY Current Month January 31, 2023 December 31, 2022 Change from 8,751,940 8,713,725 38,215 449,706 476,569 (26,863) 27,424 28,388 (965) 54,852 53,748 1,105 942,826 989,656 (46,830) 10,226,747 10,262,086 (35,339) 1,354,133 1,353,860 273 1,354,133 1,353,860 273 16,510,965 16,510,965 0 26,724,925 26,724,925 0 1,124,475 1,122,302 2,173 44,360,365 44,358,192 2,173 (22,204,868) (22,107,500) (97,368) 22,155,496 22,250,692 (95,195) 226,587 226,587 0 33,962,964 34,093,225 (130,261) 557,713 570,901 (13,188) 152,402 136,571 15,831 53,742 53,535 207 60,000 60,000 0 174,926 141,184 33,742 998,782 962,191 36,592 1,628,042 1,628,596 (554) 725,038 725,038 0 2,353,080 2,353,634 (554) 3,351,862 3,315,825 36,037 9,723 9,723 0 30,767,677 28,234,009 2,533,668 (166,299) 2,533,668 (2,699,966) 30,601,378 30,767,677 (166,298) 33,962,964 34,093,225 (130,261) 173 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 Electric Revenue Operating Revenue Elk River Otsego Rural Big Lake Dayton Public St & Hwy Lighting Other Electric Sales Total Operating Revenue Other Operating Revenue Interest/Dividend Income Customer Penalties LFG Project Connection Fees Misc Revenue Total Other Revenue Total Revenue Expenses Purchased Power Operating & Mtce Expense Landfill Gas Transmission Expense Distribution Expense Maintenance Expense Depreciation & Amortization Interest Expense Other Operating Expense Customer Accounts Expense Administrative Expense General Expense Total Expenses(before Operating Transfers) Operating Transfer Operating Transfer/Other Funds Utilities & Labor Donated Total Operating Transfer Net Income Profit(Loss) 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% 2,805,567 2,805,567 2,975,103 42,041,326 (6) 2,605,611 2,605,611 199,956 8 250,333 250,333 228,907 3,385,657 9 222,821 222,821 27,512 12 17,050 17,050 18,323 238,658 (7) 15,433 15,433 1,617 10 19,710 19,710 21,850 285,471 (10) 18,860 18,860 850 5 21,723 21,723 21,666 260,000 0 21,301 21,301 421 2 400 400 400 4,800 0 400 400 0 0 3,114,785 3,114,785 3,266,251 46,215,912 (5) 2,884,427 2,884,427 230,357 8 9,432 9,432 4,166 50,000 126 (18,018) (18,018) 27,451 152 21,873 21,873 20,833 250,000 5 0 0 21,873 0 0 0 0 0 0 92,392 92,392 (92,392) (100) 6,275 6,275 18,333 220,000 (66) 12,450 12,450 (6,175) (50) 67,311 67,311 76,352 936,231 (12) 56,015 56,015 11,296 20 104,892 104,892 119,685 1,456,231 (12) 142,839 142,839 (37,946) (27) 3,219,678 3,219,678 3,385,937 47,672,143 (5) 3,027,267 3,027,267 192,410 6 2,215,449 2,215,449 2,385,184 32,766,025 (7) 2,358,373 2,358,373 (142,923) (6) 43,733 43,733 36,416 321,000 20 25,388 25,388 18,345 72 0 0 0 0 0 57,284 57,284 (57,284) (100) 5,117 5,117 5,833 70,000 (12) 8,252 8,252 (3,134) (38) 32,438 32,438 30,587 369,466 6 31,640 31,640 797 3 139,313 139,313 159,625 1,540,500 (13) 118,108 118,108 21,205 18 265,028 265,028 265,029 3,220,836 0 249,709 249,709 15,319 6 69,424 69,424 69,424 810,832 0 74,014 74,014 (4,589) (6) 4,569 4,569 1,480 74,109 209 1,704 1,704 2,864 168 31,914 31,914 33,458 401,500 (5) 27,777 27,777 4,136 15 485,750 485,750 486,077 4,128,585 0 416,394 416,394 69,356 17 40,133 40,133 48,550 582,609 (17) 30,818 30,818 9,314 30 3,332,874 3,332,874 3,521,667 44,285,462 (5) 3,399,465 3,399,465 (66,591) (2) 125,227 125,227 119,004 1,681,653 5 110,849 110,849 14,378 13 20,412 20,412 20,000 240,000 2 18,818 18,818 1,594 8 145,640 145,640 139,004 1,921,653 5 129,668 129,668 15,972 12 (258,836) (258,836) (274,733) 1,465,028 6 (501,866) (501,866) 243,029 48 174 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales 134,365 134,365 112,007 2,503,414 20 128,998 128,998 5,366 4 Total Operating Revenue 134,365 134,365 112,007 2,503,414 20 128,998 128,998 5,366 4 Other Operating Revenue Interest/Dividend Income 3,326 3,326 3,041 36,500 9 (3,792) (3,792) 7,118 188 Customer Penalties 1,748 1,748 2,333 28,000 (25) 0 0 1,748 0 Connection Fees 11,766 11,766 43,166 518,000 (73) 27,320 27,320 (15,554) (57) Misc Revenue 975 975 1,170 376,034 (17) 24,460 24,460 (23,485) (96) Total Other Revenue 17,815 17,815 49,712 958,534 (64) 47,988 47,988 (30,172) (63) Total Revenue 152,181 152,181 161,720 3,461,948 (6) 176,986 176,986 (24,805) (14) Expenses Production Expense 10,598 10,598 7,500 90,000 41 8,003 8,003 2,595 32 Pumping Expense 47,297 47,297 50,250 603,000 (6) 40,506 40,506 6,790 17 Distribution Expense 45,156 45,156 44,409 337,650 2 12,366 12,366 32,790 265 Depreciation & Amortization 97,367 97,367 97,398 1,202,937 0 92,498 92,498 4,869 5 Interest Expense 3,112 3,112 3,112 36,349 0 4,483 4,483 (1,371) (31) Other Operating Expense 254 254 251 2,470 2 186 186 67 36 Customer Accounts Expense 7,335 7,335 7,030 84,370 4 6,021 6,021 1,314 22 Administrative Expense 106,849 106,849 127,380 1,032,655 (16) 96,558 96,558 10,291 11 General Expense 506 506 1,554 18,650 (67) 501 501 4 1 Total Expenses(before Operating Transfers) 318,480 318,480 338,885 3,408,081 (6) 261,126 261,126 57,353 22 Operating Transfer Utilities & Labor Donated 0 0 125 1,500 (100) 0 0 0 0 Total Operating Transfer 0 0 125 1,500 (100) 0 0 0 0 Net IncomeProfit(Loss) (166,298) (166,298) (177,290) 52,367 6 (84,139) (84,139) (82,158) (98) 175 Elk River Municipal Utilities Monthly Electrical Demand 80.0 75.0 70.0 65.0 c 60.0 V R 55.0 E m 0 50.0 45.0 40.0 35.0 40 Month - + -2022 -*--2023 40.000 35,000 x � 30,000 c y w 25,000 s L IL 20,000 a� d c w 15,000 Elk River Municipal Utilities Monthly Energy Purchases Month - + -2022 --*--2023 176 Elk River Municipal Utilities Monthly Total Electric Load 40,000 35,000 x 30,000 c m m 0 J 25,000 L m W 20,000 15,000 Month - + -2022 ■ 2023 $5,000,000 $4,500,000 $4,000,000 L $3,500,000 o $3,000,000 c $2,500,000 Cn $2,000,000 $1,500,000 $1,000,000 Elk River Municipal Utilities Monthly Electric Sales Month - + -2022 f 2023 177 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 25,000 20,000 15,000 x 10,000 (p !6 O J 5,000 - - --- X ' X — --�►---o------ A - - - -�-- -Ar - - - ♦-- -A x Month - -s- -2022 Residential f 2023 Residential —06-2023 Commercial - X -2022 Industrial 2022 Commercial ——2023Industrial Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $3,000,000 $2,500,000 w $2,000,000 Qx X. $1,500,000 N in $1,000,000 $500,000 $0 10 10 �°PQ�\ �a� ,J�° ���� PJ�JS� °gyp°c Goo°t °tea& Month - -s- -2022 Residential t2023 Residential 2022 Commercial --*-2023 Commercial - X -2022 Industrial — —2023 Industrial 178 Elk River Municipal Utilities Monthly Water Pumpage 160.0 140.0 120.0 c 0 100.0 80.0 CD m Q- 60.0 E a 40.0 20.0 0.0 ,J' J�Jyw ����� a�o�ec e�pec z� xe g � O Month - + -2022 f2023 7.0 6.0 5.0 1.0 0.0 ,a�Jac1 op �� J�c1 4�`'PQ�\ �a� �J�e J�� P �Jy�. �� ,pet ae`pe` e ,pet � ,pet F �eQ p �0 Oe° Month - - - -2022 -2023 Elk River Municipal Utilities Peak Day Pumpage 179 Elk River Municipal Utilities Monthly Water Sales 180 $600,000 160 $500,000 140 120 $400,000 L c 100 R 0 80 $300,000 y N m 60 $200,000 in Cn 40 $100,000 20 0 $0 ' Month 2022 MG --*--2023 MG-+-2022 $ f2023 $ ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY Revenue Operating Revenue Elk River ELECT SALES - ELK RIVER RESID ELECT SALES - ELK RIVER NON-D ELECT SALES - ELK RIVER DEMA PCA SALES REVENUE - ELK RIVE PCA SALES REVENUE - ELK RIVE PCA SALES REVENUE - ELK RIVE Total For Elk River: Otsego ELECT SALES - OTSEGO RESIDEN ELECT SALES - OTSEGO NON-DEM ELECT SALES - OTSEGO DEMAND PCA SALES REVENUE - OTSEGO R PCA SALES REVENUE - OTSEGO N PCA SALES REVENUE - OTSEGO D Total For Otsego: Rural Big Lake ELECT SALES - BIG LAKE RESIDE ELECT SALES - BIG LAKE NON -DE PCA SALES REVENUE - BIG LAKE PCA SALES REVENUE - BIG LAKE Total For Rural Big Lake: Dayton ELECT SALES - DAYTON RESIDEN ELECT SALES - DAYTON NON -DE PCA SALES REVENUE - DAYTON R PCA SALES REVENUE - DAYTON Total For Dayton: Public St & Hwy Lighting ELECT SALES - SEC LTS Total For Public St & Hwy Lighting Other Electric Sales SUB -STATION CREDIT 1,069,498 273,291 1,290,189 57,531 16,087 98,969 2,805,567 110,894 30,052 94,842 5,830 1,772 6,942 250,333 16,022 154 869 4 17,050 16,106 2,623 844 134 19,710 21,723 21,723 400 1,069,498 273,291 1,290,189 57,531 16,087 98,969 2,805,567 110,894 30,052 94,842 5,830 1,772 6,942 250,333 16,022 154 869 4 17,050 16,106 2,623 844 134 19,710 21,723 21,723 400 1,049,265 251,608 1,332,705 109,029 28,594 203,900 2,975,103 99,222 26,850 77,395 10,310 3,051 12,078 228,907 16,449 147 1,709 16 18,323 16,975 2,794 1,763 317 21,850 21,666 21,666 400 181 2022 YTD 2022 v. 2023 YTD VARIANCE Actual Var% 14,039,146 2 1,027,602 1,027,602 3,461,850 9 241,414 241,414 20,243,229 (3) 1,336,594 1,336,594 1,285,399 (47) 0 0 340,814 (44) 0 0 2,670,887 (51) 0 0 42,041,326 (6) 2,605,611 2,605,611 1,420,072 12 101,951 101,951 454,649 12 29,165 29,165 1,180,452 23 91,704 91,704 129,685 (43) 0 0 44,260 (42) 0 0 156,538 (43) 0 0 3,385,657 9 222,821 222,821 214,102 (3) 15,280 15,280 4,513 5 153 153 19,622 (49) 0 0 420 (76) 0 0 238,658 (7) 15,433 15,433 221,646 (5) 16,059 16,059 39,638 (6) 2,801 2,801 20,286 (52) 0 0 3,900 (58) 0 0 285,471 (10) 18,860 18,860 260,000 0 21,301 21,301 260,000 0 21,301 21,301 4,800 0 400 400 41,895 31,877 (46,404) 57,531 16,087 98,969 199,956 8,942 887 3,137 5,830 1,772 6,942 27,512 742 1 869 4 1,617 47 (177) 844 134 850 421 421 0 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% Total For Other Electric Sales: 400 400 400 4,800 0 400 400 0 0 Total Operating Revenue 3,114,785 3,114,785 3,266,251 46,215,912 (5) 2,884,427 2,884,427 230,357 8 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME 9,432 9,432 4,166 50,000 126 (18,018) (18,018) 27,451 152 Total For Interest/Dividend Income: 9,432 9,432 4,166 50,000 126 (18,018) (18,018) 27,451 152 Customer Penalties CUSTOMER DELINQUENT PENALT 21,873 21,873 20,833 250,000 5 0 0 21,873 0 Total For Customer Penalties: 21,873 21,873 20,833 250,000 5 0 0 21,873 0 LFG Project LFG PROJECT 0 0 0 0 0 92,392 92,392 (92,392) (100) Total For LFG Project: 0 0 0 0 0 92,392 92,392 (92,392) (100) Connection Fees DISCONNECT & RECONNECT CHA 6,275 6,275 18,333 220,000 (66) 12,450 12,450 (6,175) (50) Total For Connection Fees: 6,275 6,275 18,333 220,000 (66) 12,450 12,450 (6,175) (50) Misc Revenue MISC ELEC REVENUE - TEMP CHG 1,070 1,070 166 2,000 541 300 300 770 257 STREET LIGHT 0 0 0 20,000 0 0 0 0 0 TRANSMISSION INVESTMENTS 56,700 56,700 54,102 649,231 5 48,414 48,414 8,285 17 MISC NON -UTILITY 9,541 9,541 7,500 90,000 27 7,301 7,301 2,240 31 CONTRIBUTIONS FROM CUSTOME 0 0 14,583 175,000 (100) 0 0 0 0 Total For Misc Revenue: 67,311 67,311 76,352 936,231 (12) 56,015 56,015 11,296 20 Total Other Revenue 104,892 104,892 119,685 1,456,231 (12) 142,839 142,839 (37,946) (27) Total For Total Other Revenue: 104,892 104,892 119,685 1,456,231 (12) 142,839 142,839 (37,946) (27) Total Revenue 3,219,678 3,219,678 3,385,937 47,672,143 (5) 3,027,267 3,027,267 192,410 6 Expenses Purchased Power PURCHASED POWER 1,695,635 1,695,635 1,708,434 24,207,981 (1) 2,358,373 2,358,373 (662,737) (28) ENERGY ADJUSTMENT CLAUSE 519,814 519,814 676,749 8,558,044 (23) 0 0 519,814 0 Total For Purchased Power: 2,215,449 2,215,449 2,385,184 32,766,025 (7) 2,358,373 2,358,373 (142,923) (6) Operating & Mtce Expense OPERATING SUPERVISION 10,410 10,410 11,416 137,000 (9) 8,881 8,881 1,529 17 a ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% DIESEL OIL FUEL 501 501 833 10,000 (40) 881 881 (380) (43) NATURAL GAS 6,733 6,733 4,000 25,000 68 3,646 3,646 3,086 85 ELECTRIC & WATER CONSUMPTI 4,295 4,295 4,500 34,000 (5) 4,342 4,342 (47) (1) PLANT SUPPLIES & OTHER EXPEN 6,342 6,342 1,083 13,000 486 880 880 5,462 621 MISC POWER GENERATION EXPE 644 644 666 8,000 (3) 509 509 135 27 MAINTENANCE OF STRUCTURE - 2,961 2,961 1,666 20,000 78 1,232 1,232 1,729 140 MTCE OF PLANT ENGINES/GENER 1,718 1,718 3,250 39,000 (47) 337 337 1,380 410 MTCE OF PLANT/LAND IMPROVE 10,125 10,125 9,000 35,000 13 4,677 4,677 5,448 117 Total For Operating & Mtce Expense: 43,733 43,733 36,416 321,000 20 25,388 25,388 18,345 72 Landfill Gas LANDFILL GAS PLANT PURCHASE 0 0 0 0 0 13,849 13,849 (13,849) (100) LANDFILL GAS PLANT OPERATIO 0 0 0 0 0 41,518 41,518 (41,518) (100) LANDFILL GAS PLANT ADMINIST 0 0 0 0 0 229 229 (229) (100) LANDFILL GAS PLANT INSURANC 0 0 0 0 0 1,623 1,623 (1,623) (100) LANDFILL GAS PLANT MTCE 0 0 0 0 0 62 62 (62) (100) Total For Landfill Gas: 0 0 0 0 0 57,284 57,284 (57,284) (100) Transmission Expense TRANSMISSION MTCE AND EXPE 5,117 5,117 5,833 70,000 (12) 8,252 8,252 (3,134) (38) Total For Transmission Expense: 5,117 5,117 5,833 70,000 (12) 8,252 8,252 (3,134) (38) Distribution Expense REMOVE EXISTING SERVICE & M 0 0 87 1,050 (100) 0 0 0 0 SCADA EXPENSE 2,874 2,874 3,666 44,000 (22) 2,655 2,655 219 8 TRANSFORMER EXPENSE OH & U 1,077 1,077 1,250 15,000 (14) 1,089 1,089 (11) (1) MTCE OF SIGNAL SYSTEMS 0 0 166 2,000 (100) 0 0 0 0 METER EXPENSE - REMOVE & RE 0 0 125 1,500 (100) 0 0 0 0 TEMP SERVICE - INSTALL & REM 0 0 291 3,500 (100) 186 186 (186) (100) MISC DISTRIBUTION EXPENSE 28,486 28,486 25,000 300,000 14 27,709 27,709 777 3 INTERCONNECTION CARRYING C 0 0 0 2,416 0 0 0 0 0 Total For Distribution Expense: 32,438 32,438 30,587 369,466 6 31,640 31,640 797 3 Maintenance Expense MTCE OF STRUCTURES 1,070 1,070 3,833 46,000 (72) 1,962 1,962 (891) (45) MTCE OF SUBSTATIONS 6,702 6,702 2,916 35,000 130 0 0 6,702 0 MTCE OF SUBSTATION EQUIPME 1,598 1,598 6,416 77,000 (75) 3,930 3,930 (2,332) (59) MTCE OF OH LINES/TREE TRIM 42,225 42,225 50,000 225,000 (16) 20,607 20,607 21,618 105 MTCE OF OH LINES/STANDBY 2,733 2,733 3,333 40,000 (18) 3,102 3,102 (368) (12) 183 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% MTCE OF OH PRIMARY 10,186 10,186 14,166 170,000 (28) 8,738 8,738 1,447 17 MTCE OF URD PRIMARY 8,593 8,593 14,166 170,000 (39) 6,767 6,767 1,825 27 LOCATE ELECTRIC LINES 1,416 1,416 8,833 106,000 (84) 2,462 2,462 (1,045) (42) LOCATE FIBER LINES 0 0 83 1,000 (100) 130 130 (130) (100) MTCE OF LINE TRANSFORMERS 1,355 1,355 5,000 60,000 (73) 1,088 1,088 267 25 MTCE OF STREET LIGHTING 4,860 4,860 3,750 45,000 30 7,451 7,451 (2,590) (35) MTCE OF SECURITY LIGHTING 1,674 1,674 1,250 15,000 34 1,053 1,053 621 59 MTCE OF METERS 6,687 6,687 7,083 85,000 (6) 7,768 7,768 (1,080) (14) VOLTAGE COMPLAINTS 1,291 1,291 833 10,000 55 914 914 377 41 SALARIES TRANSMISSION & DIST 2,397 2,397 2,541 30,500 (6) 2,169 2,169 228 11 ELECTRIC MAPPING 19,409 19,409 7,916 95,000 145 14,227 14,227 5,181 36 MTCE OF OH SECONDARY 2,081 2,081 2,083 25,000 0 878 878 1,202 137 MTCE OF URD SECONDARY 3,752 3,752 5,000 60,000 (25) 2,901 2,901 851 29 TRANSPORTATION EXPENSE 21,273 21,273 20,416 245,000 4 31,951 31,951 (10,677) (33) Total For Maintenance Expense: 139,313 139,313 159,625 1,540,500 (13) 118,108 118,108 21,205 18 Depreciation & Amortization DEPRECIATION 209,350 209,350 209,351 2,552,700 0 194,031 194,031 15,319 8 AMORTIZATION 55,677 55,677 55,678 668,136 0 55,677 55,677 0 0 Total For Depreciation & Amortization: 265,028 265,028 265,029 3,220,836 0 249,709 249,709 15,319 6 Interest Expense INTEREST EXPENSE - BONDS 74,413 74,413 74,413 870,695 0 79,906 79,906 (5,493) (7) AMORTIZATION OF DEBT DISCOU (4,988) (4,988) (4,988) (59,863) 0 (5,892) (5,892) 903 15 Total For Interest Expense: 69,424 69,424 69,424 810,832 0 74,014 74,014 (4,589) (6) Other Operating Expense EV CHARGING EXPENSE 289 289 644 7,731 (55) 543 543 (254) (47) LOSS ON DISPOSITION OF PROP (C 0 0 0 15,500 0 0 0 0 0 OTHER DONATIONS 0 0 250 3,000 (100) 268 268 (268) (100) PENSION EXPENSE 0 0 0 45,000 0 0 0 0 0 OTHER INTEREST EXPENSE 378 378 378 378 0 730 730 (352) (48) INTEREST EXPENSE - METER DEP 3,902 3,902 208 2,500 1,776 162 162 3,740 2,309 Total For Other Operating Expense: 4,569 4,569 1,480 74,109 209 1,704 1,704 2,864 168 Customer Accounts Expense METER READING EXPENSE 2,846 2,846 3,916 47,000 (27) 3,837 3,837 (990) (26) DISCONNECT/RECONNECT EXPEN 1,263 1,263 1,833 22,000 (31) 1,037 1,037 225 22 MISC CUSTOMER ACCOUNTS EXP 27,716 27,716 26,041 312,500 6 22,657 22,657 5,059 22 16 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% BAD DEBT EXPENSE & RECOVER 87 87 1,666 20,000 (95) 245 245 (157) (64) Total For Customer Accounts Expense: 31,914 31,914 33,458 401,500 (5) 27,777 27,777 4,136 15 Administrative Expense SALARIES OFFICE & COMMISSION 67,404 67,404 79,166 950,000 (15) 58,683 58,683 8,720 15 TEMPORARY STAFFING 0 0 333 4,000 (100) 0 0 0 0 OFFICE SUPPLIES 10,807 10,807 8,916 107,000 21 3,984 3,984 6,822 171 ELECTRIC & WATER CONSUMPTI 6,194 6,194 2,416 29,000 156 1,792 1,792 4,401 246 BANK FEES 137 137 208 2,500 (34) 174 174 (37) (21) LEGAL FEES 2,360 2,360 3,333 40,000 (29) 1,730 1,730 630 36 AUDITING FEES 1,623 1,623 1,543 18,520 5 1,503 1,503 120 8 INSURANCE 16,356 16,356 15,500 186,000 6 13,262 13,262 3,093 23 UTILITY SHARE - DEFERRED COM 20,166 20,166 10,333 124,000 95 18,259 18,259 1,907 10 UTILITY SHARE - MEDICAUDENT 189,239 189,239 187,000 858,481 1 171,047 171,047 18,191 11 UTILITY SHARE - PERA 23,529 23,529 24,000 288,000 (2) 20,240 20,240 3,288 16 UTILITY SHARE - FICA 22,577 22,577 23,333 280,000 (3) 19,410 19,410 3,167 16 EMPLOYEE SICK PAY 30,487 30,487 12,500 150,000 144 21,940 21,940 8,546 39 EMPLOYEE HOLIDAY PAY 29,537 29,537 28,636 157,500 3 12,915 12,915 16,621 129 EMPLOYEE VACATION & PTO PA 44,114 44,114 41,000 250,000 8 36,000 36,000 8,113 23 UPMIC DISTRIBUTION 0 0 0 91,015 0 0 0 0 0 LONGEVITY PAY 0 0 0 16,369 0 0 0 0 0 CONSULTING FEES 0 0 6,666 80,000 (100) 6,724 6,724 (6,724) (100) TELEPHONE 3,495 3,495 3,416 41,000 2 2,746 2,746 749 27 ADVERTISING 1,281 1,281 1,250 15,000 3 1,479 1,479 (197) (13) DUES & SUBSCRIPTIONS - FEES 9,884 9,884 14,389 172,675 (31) 8,685 8,685 1,199 14 SCHOOLS & MEETINGS 5,550 5,550 21,500 259,925 (74) 15,203 15,203 (9,653) (63) MTCE OF GENERAL PLANT & OFFI 1,002 1,002 633 7,600 58 609 609 393 65 Total For Administrative Expense: 485,750 485,750 486,077 4,128,585 0 416,394 416,394 69,356 17 General Expense CIP REBATES - RESIDENTIAL 2,555 2,555 8,347 100,170 (69) 6,039 6,039 (3,484) (58) CIP REBATES - COMMERCIAL 10,980 10,980 15,798 189,583 (31) 4,633 4,633 6,347 137 CIP - ADMINISTRATION 502 502 1,641 19,700 (69) 464 464 37 8 CIP - MARKETING 4,580 4,580 2,503 30,039 83 1,785 1,785 2,795 157 CIP - LABOR 12,288 12,288 14,875 178,511 (17) 10,386 10,386 1,901 18 CIP REBATES - LOW INCOME 0 0 1,500 18,000 (100) 4,185 4,185 (4,185) (100) CIP - LOW INCOME LABOR 821 821 823 9,887 0 827 827 (6) (1) 185 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% ENVIRONMENTAL COMPLIANCE 2,578 2,578 2,851 34,219 (10) 2,498 2,498 79 3 MISC GENERAL EXPENSE 5,827 5,827 208 2,500 2,701 (1) (1) 5,828 582,800 Total For General Expense: 40,133 40,133 48,550 582,609 (17) 30,818 30,818 9,314 30 Total Expenses(before Operating Transfers) 3,332,874 3,332,874 3,521,667 44,285,462 (5) 3,399,465 3,399,465 (66,591) (2) Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R 125,227 125,227 119,004 1,681,653 5 110,849 110,849 14,378 13 Total For Operating Transfer/Other Funds: 125,227 125,227 119,004 1,681,653 5 110,849 110,849 14,378 13 Utilities & Labor Donated UTILITIES & LABOR DONATED TO 20,412 20,412 20,000 240,000 2 18,818 18,818 1,594 8 Total For Utilities & Labor Donated: 20,412 20,412 20,000 240,000 2 18,818 18,818 1,594 8 Total Operating Transfer Total For Total Operating Transfer: 145,640 145,640 139,004 1,921,653 5 129,668 129,668 15,972 12 Net IncomeProfit(Loss) (258,836) (258,836) (274,733) 1,465,028 6 (501,866) (501,866) 243,029 48 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY 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: 2022 YTD 2022 v. 2023 YTD VARIANCE Actual Var% 85,664 85,664 69,251 1,397,043 24 82,308 82,308 3,356 4 47,137 47,137 41,473 850,022 14 45,185 45,185 1,952 4 1,563 1,563 1,283 256,349 22 1,505 1,505 58 4 134,365 134,365 112,007 2,503,414 20 128,998 128,998 5,366 4 134,365 134,365 112,007 2,503,414 20 128,998 128,998 5,366 4 134,365 134,365 112,007 2,503,414 20 128,998 128,998 5,366 4 3,326 3,326 2,916 35,000 14 (3,792) (3,792) 7,118 188 0 0 125 1,500 (100) 0 0 0 0 3,326 3,326 3,041 36,500 9 (3,792) (3,792) 7,118 188 1,748 1,748 2,333 28,000 (25) 0 0 1,748 0 1,748 1,748 2,333 28,000 (25) 0 0 1,748 0 10,800 10,800 37,500 450,000 (71) 24,656 24,656 (13,856) (56) 966 966 3,333 40,000 (71) 2,574 2,574 (1,608) (62) 0 0 2,333 28,000 (100) 89 89 (89) (100) 11,766 11,766 43,166 518,000 (73) 27,320 27,320 (15,554) (57) 0 0 4 50 (100) 0 0 0 0 0 0 41 500 (100) 0 0 0 0 975 975 1,125 13,500 (13) 978 978 (3) 0 0 0 0 65,000 0 0 0 0 0 0 0 0 296,984 0 23,481 23,481 (23,481) (100) 975 975 1,170 376,034 (17) 24,460 24,460 (23,485) (96) 17,815 17,815 49,712 958,534 (64) 47,988 47,988 (30,172) (63) 17,815 17,815 49,712 958,534 (64) 47,988 47,988 (30,172) (63) Total Revenue 152,181 152,181 161,720 3,461,948 (6) 176,986 176,986 (24,805) (14) 187 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY Expenses Production Expense MTCE OF STRUCTURES Total For Production Expense Pumping Expense SUPERVISION ELECTRIC & GAS UTILITIES SAMPLING CHEMICAL FEED MTCE OF WELLS SCADA - PUMPING Total For Pumping Expense: Distribution Expense MTCE OF WATER MAINS LOCATE WATER LINES WATER METER SERVICE BACKFLOW DEVICE INSPECTION MTCE OF CUSTOMERS SERVICE WATER MAPPING MTCE OF WATER HYDRANTS - PU MTCE OF WATER HYDRANTS - PR WATER CLOTHING/PPE WAGES WATER TRANSPORTATION EXPENSE WATER PERMIT Total For Distribution Expense: Depreciation & Amortization DEPRECIATION Total For Depreciation & Amortization: Interest Expense INTEREST EXPENSE - BONDS AMORTIZATION OF DEBT DISCOU Total For Interest Expense: Other Operating Expense LOSS ON DISPOSITION OF PROP (C DAM MAINTENANCE EXPENSE 2022 YTD 2022 v. 2023 YTD VARIANCE Actual Var% 10,598 10,598 7,500 90,000 41 8,003 8,003 2,595 32 10,598 10,598 7,500 90,000 41 8,003 8,003 2,595 32 5,610 5,610 5,750 69,000 (2) 4,978 4,978 631 13 24,279 24,279 24,000 288,000 1 20,052 20,052 4,227 21 1,656 1,656 1,250 15,000 32 687 687 968 141 2,440 2,440 4,166 50,000 (41) 477 477 1,963 412 13,018 13,018 13,750 165,000 (5) 14,110 14,110 (1,092) (8) 291 291 1,333 16,000 (78) 200 200 90 45 47,297 47,297 50,250 603,000 (6) 40,506 40,506 6,790 17 20,703 20,703 10,000 120,000 107 2,000 2,000 18,703 935 86 86 1,437 17,250 (94) 34 34 51 149 1,011 1,011 5,500 66,000 (82) 4,434 4,434 (3,422) (77) 2,136 2,136 900 16,000 137 913 913 1,222 134 2,451 2,451 2,541 30,500 (4) 2,417 2,417 34 1 443 443 1,041 12,500 (57) 171 171 271 159 962 962 1,583 19,000 (39) 546 546 416 76 240 240 416 5,000 (42) 254 254 (13) (5) 31 31 750 9,000 (96) 32 32 0 0 622 622 608 7,300 2 484 484 138 28 1,058 1,058 1,375 16,500 (23) 1,077 1,077 (19) (2) 15,407 15,407 18,255 18,600 (16) 0 0 15,407 0 45,156 45,156 44,409 337,650 2 12,366 12,366 32,790 265 97,367 97,367 97,398 1,202,937 0 92,498 92,498 4,869 5 97,367 97,367 97,398 1,202,937 0 92,498 92,498 4,869 5 3,666 3,666 3,666 43,000 0 5,037 5,037 (1,371) (27) (554) (554) (554) (6,651) 0 (554) (554) 0 0 3,112 3,112 3,112 36,349 0 4,483 4,483 (1,371) (31) 0 0 0 500 0 0 0 0 0 55 55 188 145 1,750 (62) 0 0 55 0 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% OTHER INTEREST EXPENSE 94 94 95 95 0 182 182 (88) (48) INTEREST EXPENSE - METER DEP 104 104 10 125 950 4 4 100 2,525 Total For Other Operating Expense: 254 254 251 2,470 2 186 186 67 36 Customer Accounts Expense METER READING EXPENSE 147 147 208 2,500 (29) 188 188 (40) (21) MISC CUSTOMER ACCOUNTS EXP 7,188 7,188 6,801 81,620 6 5,833 5,833 1,355 23 BAD DEBT EXPENSE & RECOVER 0 0 20 250 (100) 0 0 0 0 Total For Customer Accounts Expense: 7,335 7,335 7,030 84,370 4 6,021 6,021 1,314 22 Administrative Expense SALARIES OFFICE & COMMISSION 19,496 19,496 22,375 268,500 (13) 17,073 17,073 2,423 14 TEMPORARY STAFFING 0 0 83 1,000 (100) 0 0 0 0 OFFICE SUPPLIES 1,799 1,799 2,125 25,500 (15) 957 957 841 88 ELECTRIC & WATER CONSUMPTI 1,144 1,144 666 8,000 72 448 448 696 156 BANK FEES 34 34 52 625 (35) 43 43 (9) (23) LEGAL FEES 590 590 750 9,000 (21) 432 432 157 36 AUDITING FEES 405 405 385 4,630 5 375 375 30 8 INSURANCE 3,016 3,016 3,000 36,000 1 2,217 2,217 798 36 UTILITY SHARE - DEFERRED COM 2,881 2,881 2,541 30,500 13 2,693 2,693 188 7 UTILITY SHARE - MEDICAUDENT 46,074 46,074 59,000 215,000 (22) 43,767 43,767 2,306 5 UTILITY SHARE - PERA 4,525 4,525 4,500 54,000 1 3,896 3,896 629 16 UTILITY SHARE - FICA 4,329 4,329 4,333 52,000 0 3,710 3,710 618 17 EMPLOYEE SICK PAY 4,843 4,843 2,250 27,000 115 2,533 2,533 2,309 91 EMPLOYEE HOLIDAY PAY 4,234 4,234 5,600 30,800 (24) 1,818 1,818 2,416 133 EMPLOYEE VACATION & PTO PA 9,069 9,069 8,000 44,000 13 7,508 7,508 1,561 21 UPMIC DISTRIBUTION 0 0 0 18,069 0 0 0 0 0 WELLHEAD PROTECTION 0 0 0 10,000 0 2,250 2,250 (2,250) (100) LONGEVITY PAY 0 0 0 3,106 0 0 0 0 0 CONSULTING FEES 0 0 2,916 35,000 (100) 1,681 1,681 (1,681) (100) TELEPHONE 796 796 791 9,500 1 693 693 102 15 ADVERTISING 320 320 541 6,500 (41) 297 297 22 7 DUES & SUBSCRIPTIONS - FEES 1,282 1,282 2,000 78,320 (36) 1,597 1,597 (315) (20) SCHOOLS & MEETINGS 1,755 1,755 5,308 63,705 (67) 2,410 2,410 (654) (27) MTCE OF GENERAL PLANT & OFFI 250 250 158 1,900 59 152 152 98 65 Total For Administrative Expense: 106,849 106,849 127,380 1,032,655 (16) 96,558 96,558 10,291 11 General Expense 189 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% CIP REBATES - RESIDENTIAL 45 45 875 10,500 (95) 110 110 (65) (59) CIP REBATES - COMMERCIAL 0 0 41 500 (100) 0 0 0 0 CIP - MARKETING 0 0 41 500 (100) 0 0 0 0 CIP - LABOR 409 409 391 4,700 4 341 341 67 20 ENVIRONMENTAL COMPLIANCE 54 54 183 2,200 (70) 50 50 4 8 MISC GENERAL EXPENSE (2) (2) 20 250 (114) 0 0 (2) 0 Total For General Expense: 506 506 1,554 18,650 (67) 501 501 4 1 Total Expenses(before Operating Transfers) 318,480 318,480 338,885 3,408,081 (6) 261,126 261,126 57,353 22 Operating Transfer Utilities & Labor Donated WATER & LABOR DONATED TO CI 0 0 125 1,500 (100) 0 0 0 0 Total Operating Transfer Total For Total Operating Transfer: 0 0 125 1,500 (100) 0 0 0 0 Net IncomeProfit(Loss) (166,298) (166,298) (177,290) 52,367 6 (84,139) (84,139) (82,158) (98) 190 HANDOUT AT MEETING - FINANCIALS Electric Revenue Operating Revenue Elk River Otsego Rural Big Lake Dayton Public St & Hwy Lighting Other Electric Sales Total Operating Revenue Other Operating Revenue Interest/Dividend Income Customer Penalties LFG Project Connection Fees Misc Revenue Total Other Revenue Total Revenue Expenses Purchased Power Operating & Mtce Expense Landfill Gas Transmission Expense Distribution Expense Maintenance Expense Depreciation & Amortization Interest Expense Other Operating Expense Customer Accounts Expense Administrative Expense General Expense Total Expenses(before Operating Transfers) Operating Transfer Operating Transfer/Other Funds Utilities & Labor Donated Total Operating Transfer Net Income Profit(Loss) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 YTD 2023 2023 YTD 2022 2022 YTD 2022 v. 2023 JANUARY YTD YTD Budget ANNUAL Bud Vat% JANUARY YTD VARIANCE Actual Vat% BUDGET Variance BUDGET 2,805,567 2,805,567 2,975,103 (169,536) 42,041,326 (6) 2,605,611 2,605,611 199,956 8 250,334 250,334 228,908 21,426 3,385,657 9 222,822 222,822 27,512 12 17,051 17,051 18,324 (1,273) 238,658 (7) 15,433 15,433 1,617 10 19,710 19,710 21,850 (2,140) 285,471 (10) 18,860 18,860 850 5 21,723 21,723 21,667 57 260,000 0 21,302 21,302 422 2 400 400 400 0 4,800 0 400 400 0 0 3,114,786 3,114,786 3,266,252 (151,466) 46,215,912 (5) 2,884,428 2,884,428 230,358 8 9,433 9,433 4,167 5,266 50,000 126 (18,019) (18,019)= 27,451 - (1) 21,874 21,874 20,833 1,040 250,000 5 0 0 21,874 0 0 0 0 0 0 0 92,393 92,393 V (92,393)- (2) 6,275 6,275 18,333 (12,058) 220,000 (66) 12,450 12,450 (6,175) (50) 67,312 67,312 76,353 (9,041) 936,231 (12) 56,016 56,016 11,296 20 104,893 104,893 119,686 (14,793) 1,456,231 (12) 142,840 142,840 (37,947) (27) 3,219,679 3,219,679 3,385,938 (166,259) 47,672,143 (5) 3,027,268 3,027,268 192,411 6 2,215,450 2,215,450 2,385,184 (169,735) 32,766,025 (7) 2,358,373 2,358,373 (142,924) (6) 43,734 43,734 36,417 7,317 321,000 20 25,388 25,388 18,345 72 0 0 0 0 0 0 57,284 57,284 (57,284) - (3) 5,118 5,118 5,833 (716) 70,000 (12) 8,252 8,252 (3,134) (38) 32,438 32,438 30,588 1,851 369,466 6 31,641 31,641 798 3 139,313 139,313 159,625 (20,312) 1,540,500 (13) 118,108 118,108 21,205 18 265,028 265,028 265,029 (1) 3,220,836 (0) 249,709 249,709 15,319 6 69,425 69,425 69,425 0 810,832 0 74,014 74,014 (4,590) (6) 4,569 4,569 1,481 3,089 74,109 209 1,705 1,705 2,865 168 31,915 31,915 33,458 (1,543) 401,500 (5) 27,778 27,778 4,137 15 485,751 485,751 486,078 (327) 4,128,585 (0) 416,395 416,395 69,356 - (4) 40,134 40,134 48,551 (8,417) 582,609 (17) 30,819 30,819 9,315 30 3,332,874 3,332,874 3,521,667 (188,793) 44,285,462 (5) 3,399,466 3,399,466 (66,591) (2) 125,228 125,228 119,004 6,224 1,681,653 5 110,849 110,849 14,378 13 20,413 20,413 20,000 413 240,000 2 18,819 18,819 1,594 8 145,640 145,640 139,004 6,636 1,921,653 5 129,668 129,668 15,972 12 (258,836) (258,836) (274,734) 15,898 1,465,028 6 (501,866) (501,866) 243,030 48 Item Variance of +/- $25,000 and +/- 15% (1) PY variance is due to the change in Fair Market Value of Investments. (2) PY variance is due to the LFG Project coming to an end in 2022. (3) PY variance is due to the LFG Project coming to an end in 2022. (4) PY variance is due to Employer paid Medical Insurance (2023 increased ER HSA contribution and premium) and Holiday Pay (2 days in 2023 v 1 day in 2022) HANDOUT AT MEETING - FINANCIALS 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) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2023 2023 2023 2023 YTD 2023 2023 YTD 2022 2022 YTD 2022 v. 2023 JANUARY YTD YTD Budget ANNUAL Bud Var% JANUARY YTD VARIANCE Actual Var% BUDGET Variance BUDGET 134,366 134,366 112,008 22,358 2,503,414 - 128,999 128,999 5,367 4 (1) 134,366 134,366 112,008 22,358 2,503,414 20 128,999 128,999 5,367 4 3,326 3,326 3,042 285 36,500 9 (3,793) (3,793) 7,119 188 1,748 1,748 2,333 (585) 28,000 (25) 0 0 1,748 0 11,766 11,766 43,167 (31,401) 518,000 27,320 27,320 (15,554)MI(2) 975 975 1,171 (196) 376,034 (17) 24,460 24,460 k (23,485) (3) 17,816 17,816 49,713 (31,897) 958,534 (64) 47,988 47,988 (30,172) (63) 152,181 152,181 161,720 (9,539) 3,461,948 (6) 176,987 176,987 (24,805) (14) 10,599 10,599 7,500 3,099 90,000 41 8,003 8,003 2,596 32 47,297 47,297 50,250 (2,953) 603,000 (6) 40,507 40,507 6,791 17 45,157 45,157 44,409 748 337,650 2 12,367 12,367 . 32,790 - (4) 97,368 97,368 97,398 (30) 1,202,937 (0) 92,498 92,498 4,870 5 3,112 3,112 3,112 (0) 36,349 0 4,484 4,484 (1,371) (31) 255 255 251 4 2,470 2 187 187 68 36 7,336 7,336 7,031 305 84,370 4 6,021 6,021 1,315 22 106,850 106,850 127,380 66 (20,530) 1,032,655 96,559 96,559 10,291 11 (5) 506 506 1,554 (1,048) 18,650 (67) 501 501 5 1 318,480 318,480 338,886 (20,406) 3,408,081 (6) 261,127 261,127 57,353 22 0 0 125 (125) 1,500 (100) 0 0 0 0 0 0 125 (125) 1,500 (100) 0 0 0 0 (166,299) (166,299) (177,291) 10,992 52,367 6 (84,140) (84,140) (82,159) (98) Item Variance of +/- $15,000 and +/- 15% (1) Budget variance is due to Residential sales spread amount being too low. (2) Budget variance is due to a even budget spread. PY variance is due to more Connection Fees in 2022. (3) PY variance is due Water Tower lease revenue being recognized annually in 2023 v monthly in 2022 (GASB 87) (4) PY variance is due to a 2023 water main repair and timing issue for water permit. (5) Budget variance is due to ER paid Medical/Dental January budget spread amount being too high. HANDOUT AT MEETING - FINANCIALS - ELECTRIC HANDOUT AT MEETING - FINANCIALS - WATER HANDOUT AT MEETING - FINANCIALS - COMBINED