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4.1a ERMUSR 04-11-2023
Elk River MunicipalUtilities Audit Results Electric Fund Resultc. Water Fund Results 63 E Unmodified/Clean No Compliance Findings Opinion Reported 64 Electric Fund Expenditures by Type $ 35,0 00,0 00 $ 30,0 00,0 00 $ 25,0 00,0 00 $ 20,0 00,0 00 $15,0 00,0 00 $10,000,000 $5,000,000 Purchased Power Production and Customer Accounts Depreciation General and Distribution Admin istrative 2020 2021 02022 65 $50,000,000 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,0 00 $10,000,0 00 $5,000,000 2019 2019 2020 2020 2021 2021 2022 2022 Operating Disbursements E Debt Payments =Operating Receipts $30,000,000 $25,000,000 $20,000,000 $15,000,0 00 $10,000,0 00 $5,000,000 2019 2020 2021 2022 Unrestricted Cash Restricted for Debt Service �° 66 Electric Operations 2020 2021 2022 Operating Revenues Operating Expenses Cash and Investments Bonds and Notes Payable 67 Water Fund Expenditures by Type $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 Production Distribution Depreciation Customer accou nts General and administrative 2020 2021 02022 68 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 13 2019 2019 2020 2020 2021 2021 2022 2022 Operating Disbursements Debt Payments =Operating Receipts $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 S- 2019 2020 2021 2022 =Unrestricted Cash Balance Unrestricted Designated Reserve 69 $12,0 00,0 00 $10,0 00,0 00 $8,000,000 $6,000,000 $4,000,000 $2,000,000 2020 2021 2022 Operating Revenues Operating Expenses 0 Cash = Bonds 70 Description Authorized and Issued Electric Revenue Bonds, Series 2016A $ 9,755,000 G.O. Water Revenue Bonds, Series 2021 C 1,615,000 Electric Revenue Bonds, Series 2018A 10,000,000 Electric Revenue Bonds, Series 2021 B 11,810,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 Totals Total Remaining Interest Payments Bonds Yearof Outstanding Maturity $ 7,995,000 2036 1,565,000 2041 9,225,000 2048 11,655,000 2051 $ 30,440,000 $ 11,996,850 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Principal Interest 71 $39�00,0OO $36,000,000 V33,000,000 V30,000,000 V27'000'000 $24'000'000 $21'000'000 $18'000'000 $15'000'000 $12'000'000 $9'000'000 $O'000'000 $3'OOO'OOO 2020 2021 2022 Electric Water interest earnings for the Utilities. �� ��m�� 72 11 < , v 'Mo.\ Justin Nilson, Ctk m«mMlsom326m3e;: m \� ~dd ~ w \ Cierra Nagovsky clerra.nagovsky9 gm&ama.co m .\... > .. \�\ � Natasha Hugen natasha.hugen gm&aasmm g.kn m2aWm6uee.mm \ 9 / < 73