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4.2d ERMUSR 04-11-2023
Elk River Municipal Utilities - Reserves Policy 4/2023 Proposed ERMU Water Fund - 62 Description Annual Average Monthly 2023 Budgeted Expenditures $ 3,409,580 $ 284,132 2023 Budgeted Interest Expense $ 43,000 $ 3,583 2023 Budgeted Depreciation $ 1,202,937 $ 100,245 2023 Budgeted Pricipal and Interest $ 103,000 1 n/a 2022 Audited Cash Balances 2023 Reserves $ 10,067,584 Unrestricted 12023 Calculated Reserves $ 1,184,822 Designated 12023 Proposed Calculated Reserves $ 1,184,822 Reserves Restricted for 2023 Calculated Reserves $ - Debt Service 12023 Proposed Calculated Reserves $ - Unrestricted 12023 Calculated Reserves $ 8,882,763 Reserves 12023 Proposed Calculated Reserves $ 8,882,763 2022 Reserves $ 10,806,896 $ 1,361,321 $ 9,445,575 152