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4.2c ERMUSR 04-11-2023
Elk River Municipal Utilities - Reserves Policy 4/2023 Proposed ERMU Electric Fund - 61 Description Annual Average Monthly 2023 Budgeted Expenditures $ 46,207,114 $ 3,850,593 2023 Budgeted Interest Expense $ 870,695 $ 72,558 2023 Budgeted Depreciation $ 3,220,836 $ 268,403 2023 Budgeted Purchased Power Cost $ 32,766,025 $ 2,730,502 2023 Budgeted Pricipal and Interest $ 1,785,695 n/a 2022 Peak Monthly Purchased Power Cost $ 3,512,076 $ 2,628,717 2023 Reserves 1 12022 Reserves 2022 Audited Cash Balances $ 16,674,863 1 1 $ 23,459,971 Unrestricted 12023 Calculated Reserves $ 9,190,976 $ 9,021,356 Designated 12023 Proposed Calculated Reserves $ 9,190,976 Reserves Restricted for 2023 Calculated Reserves $ 1,779,016 $ 1,779,016 Debt Service 12023 Proposed Calculated Reserves $ 1,779,016 Unrestricted 12023 Calculated Reserves $ 5,704,871 $ 12,659,599 Reserves 12023 Proposed Calculated Reserves $ 5,704,871 151