5.1d ERMUSR 05-09-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FOR PERIOD ENDING MARCH 2O23
2023
2023
2023
YTD
2023 YTD
2023
2022
2022
YTD
2022 v.
Variance
MARCH
YTD
YTD
Budget
Bud Var%
ANNUAL
MARCH
YTD VARIANCE
2023
Item
Electric
BUDGET
Variance
BUDGET
Actual
Revenue
Operating Revenue
Elk River 2,947,128
8,961,875
9,030,657
(68,782)
(1)
42,041,326
2,615,694
7,900,797
1,061,078
13
Otsego 260,699
829,891
704,603 L 88
3,385,657
230,926
687,702 '
142,190
-(1)
Rural Big Lake 16,360
54,555
55,910
(1,354)
(2)
238,658
15,578
47,175
7,381
16
Dayton 20,005
64,977
67,184
(2,207)
(3)
285,471
19,401
58,089
6,888
12
Public St & Hwy Lighting 21,261
64,707
65,000
(293)
(0)
260,000
21,491
64,268
440
1
Other Electric Sales 400
1,200
1,200
0
0
4,800
353,851
427,041
(425,841)
-(2)
Total Operating Revenue 3,265,853
9,977,206
9,924,554
52,652
1
46,215,912
3,256,942
9,185,071
792,135
9
Other Operating Revenue
Interest/Dividend Income 9,435
17,901
12,500
5,401
43
50,000
(45,493)
(88,490)
106,391.
(3)
Customer Penalties 25,220
73,878
62,500
11,378
18
250,000
23,493
44,374
29,504
(4)
LFG Project 0
0
0
0
0
0
65,294
238,553
23,3,553
(5)
Connection Fees 7,832
24,133
55,000 r
(30,867)-
220,000
7,580
35,665
(11,532)
(32)
(6)
Misc Revenue 81,760
212,827
234,058
(21,231)
(9)
936,231
75,853
190,027
22,800
12
Total Other Revenue 124,247
328,739
364,058
(35,319)
(10)
1,456,231
126,726
420,129
(91,391)
(22)
Total Revenue 3,390,100
10,305,945
10,288,612
17,333
0
47,672,143
3,383,668
9,605,200
700,745
7
Expenses
Purchased Power 2,331,856
6,697,575
7,238,872
(541,296)
(7)
32,766,025
2,299,042
6,962,413
(264,838)
(4)
Operating & Mtce Expense 52,234
125,829
95,550
321,000
22,600
69,658
56,171
Landfill Gas 0
0
0
0
0
0
53,783
165,833
(165,833)=(7)
(8)
Transmission Expense 5,361
14,670
17,500
(2,830)
(16)
70,000
5,348
18,773
(4,103)
(22)
Distribution Expense 82,832
153,857
91,763
369,466
47,278
108132
45,725
(9)
Maintenance Expense 200,829
459,473
478,875
(19,402)
(4)
1,540,500
170,908
381:994
(10)
Depreciation & Amortization 263,779
792,681
795,087
(2,406)
(0)
3,220,836
249,971
749,782
42,899
6
Interest Expense 68,225
205,874
205,874
0
0
810,832
70,862
215,738
(9,865)
(5)
Other Operating Expense 3,489
12,314
3,686
8,628
234
74,109
289
2,984
9,330
313
Customer Accounts Expense 34,014
95,281
100,375
(5,094)
(5)
401,500
29,580
85,650
9,631
11
Administrative Expense 331,780
1,106,308
1,158,043
(51,735)
(4)
4,128,585
309,253
995,755
110,553
11
General Expense 35,714
108,023
145,652
(37,630)-
582,609
29,953
80,293
27,730
Total Expenses(before Operating Transfers) 3,410,113
9,771,885
10,331,276
(559,391)
(5)
44,285,462
3,288,866
9,837,005
(65,120)
(1)
Operating Transfer
Operating Transfer/Other Funds 124,155
387,902
361,226
26,676
7
1,681,653
111,024
335,706
52,196
-(12)
Utilities & Labor Donated 18,480
58,127
60,000
(1,873)
(3)
240,000
19,363
56,811
1,316
2
Total Operating Transfer 142,636
446,029
421,226
24,803
6
1,921,653
130,387
392,517
53,512
14
Net Income Profit(Loss) (162,648)
88,031
(463,891)
551,921
119
1,465,028
(35,584)
(624,322)
712,352
114
Item Variance of+/- $25,000 and+/- 15%
(1) YTD Budget variance due to increased usage. Prior Year to Date (PYTD) variance is mainly due to 2023 PCA revenue, increased usage and rate increase.
(2) PYTD variance due to accrual of PCA revenue in 2022 (See Rate Increase
on Detailed Statement).
(3) PYTD variance is due to the change in Fair Market Value of Investments.
(4) PYTD variance is due to not billing penalties in January
2022.
(5) PYTD variance is due to the LFG Project coming to an end in 2022.
(6) YTD Budget variance is due to a even budget spread.
(7) YTD Budget and PYTD variance is mainly due to increase labor for snow
removal, additional
supplies and increased
electric and natural gas expense for new
field services
building in
2023.
(8) PYTD variance is due to the LFG Project coming to an end in 2022.
(9) YTD Budget variance is due to an even budget spread for misc distribution expense. PYTD variance is due to increased labor and uniform
expense in 2023.
(10) PYTD variance is mainly due to contracted tree trimming
(2022 and 2023
had contracted
tree trimming,
but more was completed in 2023) and increased mapping
labor.
(11) YTD Budget variance is mainly due to less rebate dollars spent than budgeted. PYTD variance is mainly due to more
commerical rebates in 2023.
(12) PYTD variance due to increased PCA revenue.
65