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5.1 ERMUSR 08-08-2023
______________________________________________________________________________ Page 1 of 2 UTILITIES COMMISSION MEETING TO: ERMU Commission FROM: Melissa Karpinski – Finance Manager MEETING DATE: August 8, 2023 AGENDA ITEM NUMBER: 5.1 SUBJECT: Financial Report – June 2023 ACTION REQUESTED: Receive the June 2023 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric June year to date (YTD) electric kWh sales are down 3% from the prior year. For further breakdown: • Residential usage is up 1% • Small Commercial usage is up 7% • Large Commercial usage is down 6% For June 2023, the Electric Department overall is ahead of prior YTD and favorable to budget YTD. Additional variance analysis can be found on the Summary Electric Statement of Revenues, Expenses and Changes in Net Position attachment. Water June YTD gallons of water sold are up 33% from the prior year. For further breakdown: • Residential use is up 34% • Commercial use is up 31% For June 2023, the Water Department overall is behind prior YTD but favorable to budget YTD. Additional variance analysis can be found on the Summary Water Statement of Revenues, Expenses and Changes in Net Position attachment. ATTACHMENTS: • Balance Sheet 06.2023 • Electric Balance Sheet 06.2023 • Water Balance Sheet 06.2023 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 06.2023 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 06.2023 • Graphs Prior Year and YTD 2023 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 06.2023 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 06.2023 53 ______________________________________________________________________________ Page 2 of 2 • Budget vs Actual Graphs – Electric 06.2023 • Budget vs Actual Graphs – Water 06.2023 54 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING JUNE 2023 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 8,753,13711,674,061 ACCOUNTS RECEIVABLE 5,713,8503,110,672 INVENTORIES 22,4761,363,568 PREPAID ITEMS 44,610212,345 CONSTRUCTION IN PROGRESS 992,4191,720,828 TOTAL CURRENT ASSETS 15,526,49118,081,475 RESTRICTED ASSETS BOND RESERVE FUND 01,779,016 EMERGENCY RESERVE FUND 1,359,8132,925,488 UNRESTRICTED RESERVE FUND 00 TOTAL RESTRICTED ASSETS 1,359,8134,704,504 FIXED ASSETS PRODUCTION 16,525,311824,065 LFG PROJECT 00 TRANSMISSION 02,305,024 DISTRIBUTION 26,766,97147,142,388 GENERAL 1,131,22222,980,770 FIXED ASSETS (COST)44,423,50473,252,246 LESS ACCUMULATED DEPRECIATION (22,684,343)(33,304,114) TOTAL FIXED ASSETS, NET 21,739,16139,948,132 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY-IN 021,546,212 LOSS OF REVENUE INTANGIBLE 05,290,120 LESS ACCUMULATED AMORTIZATION 0(3,172,491) TOTAL INTANGIBLE ASSETS, NET 023,663,840 OTHER ASSETS AND DEFERRED OUTFLOWS 226,5871,187,557 TOTAL ASSETS 38,852,05287,585,508 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 308,4445,532,877 SALARIES AND BENEFITS PAYABLE 130,110604,342 DUE TO CITY 2,258870,981 DUE TO OTHER FUNDS 00 NOTES PAYABLE-CURRENT PORTION 00 BONDS PAYABLE-CURRENT PORTION 60,000435,000 UNEARNED REVENUE 364,425154,973 TOTAL CURRENT LIABILITIES 865,2377,598,173 LONG TERM LIABILITIES OPEB LIABILITY 00 LFG PROJECT 00 DUE TO COUNTY 00 DUE TO CITY 00 BONDS PAYABLE, LESS CURRENT PORTION 1,625,27129,245,193 PENSION LIABILITIES 725,0383,789,381 TOTAL LONG TERM LIABILITIES 2,350,30933,034,574 TOTAL LIABILITIES 3,215,54640,632,747 DEFERRED INFLOWS OF RESOURCES 5,121,83154,129 FUND EQUITY CAPITAL ACCOUNT CONST COST 01,779,016 CONTRIBUTED CAPITAL 00 RETAINED EARNINGS 30,887,40645,204,945 NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(372,731)(85,329) TOTAL FUND EQUITY 30,514,67546,898,632 TOTAL LIABILITIES & FUND EQUITY 38,852,05287,585,508 55 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA ELECTRIC BALANCE SHEET Current Month Change from Prior MonthJune 30, 2023 May 31, 2023 ASSETS CURRENT ASSETS CASH 11,674,061 11,116,466 557,595 ACCOUNTS RECEIVABLE 3,110,672 2,580,057 530,615 INVENTORIES 1,363,568 1,468,128 (104,559) PREPAID ITEMS 212,345 199,697 12,647 CONSTRUCTION IN PROGRESS 1,720,828 1,479,490 241,338 TOTAL CURRENT ASSETS 18,081,475 16,843,838 1,237,636 RESTRICTED ASSETS BOND RESERVE FUND 1,779,016 1,779,016 0 EMERGENCY RESERVE FUND 2,925,488 2,920,176 5,312 TOTAL RESTRICTED ASSETS 4,704,504 4,699,192 5,312 FIXED ASSETS PRODUCTION 824,065 824,065 0 TRANSMISSION 2,305,024 2,305,024 0 DISTRIBUTION 47,142,388 47,039,651 102,737 GENERAL 22,980,770 22,980,551 219 FIXED ASSETS (COST)73,252,246 73,149,291 102,956 LESS ACCUMULATED DEPRECIATION (33,304,114)(33,098,570)(205,545) TOTAL FIXED ASSETS, NET 39,948,132 40,050,721 (102,589) INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 21,546,212 0 LOSS OF REVENUE INTANGIBLE 5,290,120 5,290,120 0 LESS ACCUMULATED AMORTIZATION (3,172,491)(3,116,813)(55,678) TOTAL INTANGIBLE ASSETS, NET 23,663,840 23,719,518 (55,678) OTHER ASSETS AND DEFERRED OUTFLOWS 1,187,557 1,187,557 0 TOTAL ASSETS 87,585,508 86,500,827 1,084,682 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 5,532,877 4,692,554 840,323 SALARIES AND BENEFITS PAYABLE 604,342 552,854 51,487 DUE TO CITY 870,981 744,941 126,040 BONDS PAYABLE-CURRENT PORTION 435,000 435,000 0 UNEARNED REVENUE 154,973 156,971 (1,998) TOTAL CURRENT LIABILITIES 7,598,173 6,582,320 1,015,853 LONG TERM LIABILITIES BONDS PAYABLE, LESS CURRENT PORTION 29,245,193 29,250,182 (4,989) PENSION LIABILITIES 3,789,381 3,789,381 0 TOTAL LONG TERM LIABILITIES 33,034,574 33,039,563 (4,989) TOTAL LIABILITIES 40,632,747 39,621,883 1,010,865 DEFERRED INFLOWS OF RESOURCES 54,129 54,129 0 FUND EQUITY CAPITAL ACCOUNT CONST COST 1,779,016 1,779,016 0 RETAINED EARNINGS 45,204,945 45,204,945 0 NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(85,329)(159,146)73,817 TOTAL FUND EQUITY 46,898,632 46,824,815 73,817 TOTAL LIABILITIES & FUND EQUITY 87,585,508 86,500,827 1,084,682 56 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA WATER BALANCE SHEET Current Month Change from Prior MonthJune 30, 2023 May 31, 2023 ASSETS CURRENT ASSETS CASH 8,753,137 8,510,454 242,683 ACCOUNTS RECEIVABLE 5,713,850 5,479,836 234,013 INVENTORIES 22,476 26,131 (3,655) PREPAID ITEMS 44,610 45,672 (1,062) CONSTRUCTION IN PROGRESS 992,419 958,392 34,026 TOTAL CURRENT ASSETS 15,526,491 15,020,486 506,005 RESTRICTED ASSETS EMERGENCY RESERVE FUND 1,359,813 1,358,485 1,328 TOTAL RESTRICTED ASSETS 1,359,813 1,358,485 1,328 FIXED ASSETS PRODUCTION 16,525,311 16,525,311 0 DISTRIBUTION 26,766,971 26,766,971 0 GENERAL 1,131,222 1,131,191 31 FIXED ASSETS (COST)44,423,504 44,423,473 31 LESS ACCUMULATED DEPRECIATION (22,684,343)(22,586,691)(97,653) TOTAL FIXED ASSETS, NET 21,739,161 21,836,782 (97,621) INTANGIBLE ASSETS OTHER ASSETS AND DEFERRED OUTFLOWS 226,587 226,587 0 TOTAL ASSETS 38,852,052 38,442,340 409,712 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 308,444 278,022 30,422 SALARIES AND BENEFITS PAYABLE 130,110 125,289 4,821 DUE TO CITY 2,258 3,130 (872) BONDS PAYABLE-CURRENT PORTION 60,000 60,000 0 UNEARNED REVENUE 364,425 174,926 189,500 TOTAL CURRENT LIABILITIES 865,237 641,367 223,871 LONG TERM LIABILITIES BONDS PAYABLE, LESS CURRENT PORTION 1,625,271 1,625,825 (554) PENSION LIABILITIES 725,038 725,038 0 TOTAL LONG TERM LIABILITIES 2,350,309 2,350,863 (554) TOTAL LIABILITIES 3,215,546 2,992,230 223,316 DEFERRED INFLOWS OF RESOURCES 5,121,831 5,121,831 0 FUND EQUITY RETAINED EARNINGS 30,887,406 30,887,406 0 NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(372,731)(559,127)186,395 TOTAL FUND EQUITY 30,514,675 30,328,279 186,395 TOTAL LIABILITIES & FUND EQUITY 38,852,052 38,442,340 409,712 57 202320232023YTD 202320222022 YTD Budget ANNUALElectricBUDGET VarianceBUDGETVariance Item3,886,613 18,409,096 18,952,931 (543,835) (3) 42,041,326 3,382,371 16,688,11510374,625 1,697,899 1,473,031 224,868 15 3,385,657 298,244 1,446,11017 (1)19,878 103,900 108,978 (5,078) (5) 238,658 16,161 92,2981325,520 126,265 130,035 (3,770) (3) 285,471 19,748 112,8791221,625 129,432 130,000(568) (0) 260,000 21,496 128,76514002,4002,4000 04,800 308,770 1,232,613(100) (2)4,328,660 20,468,993 20,797,375 (328,382) (2) 46,215,912 4,046,789 19,700,78043,068 34,055 25,0009,055 36 50,000 (16,178) (138,279)125 (3)20,399 139,618 125,000 14,618 12 250,000 30,878 115,7892100000099,232 484,224(100) (4)11,425 57,841 110,000 (52,159) (47) 220,000 21,000 87,220(34) (5)174,938 651,891 468,115 183,776 39 936,231 106,067 521,17825 (6)209,830 883,406 728,115 155,291 21 1,456,231 240,998 1,070,132(17)4,538,490 21,352,399 21,525,491 (173,092) (1) 47,672,143 4,287,788 20,770,91233,429,531 14,777,070 15,319,770 (542,700) (4) 32,766,025 3,429,171 14,871,103(1)18,547 189,739 166,200 23,539 14 321,000 15,102 122,09155 (7)00000058,280 340,522(100) (8)6,560 32,979 35,000 (2,021) (6) 70,0005,645 33,230(1)30,863 251,636 183,525 68,111 37 369,466 23,733 196,76928 (9)104,051 834,602 834,750(148) (0) 1,540,500 137,692 765,9069261,223 1,582,048 1,590,174 (8,126) (1) 3,220,836 248,804 1,497,282668,225 410,547 410,5470 0 810,832 70,862 428,324(4)4,227 24,9946,993 18,001 257 74,1093,488 17,4414330,091 216,921 200,750 16,171 8 401,500 30,733 180,10620 (10)297,018 2,005,999 2,126,650 (120,651) (6) 4,128,585 302,445 1,886,722640,130 196,230 291,305 (95,075) (33) 582,609 77,568 201,011(2) (11)4,290,464 20,522,766 21,165,664(3) 44,285,462 4,403,522 20,540,508(0)156,164 773,143 758,117 15,025 2 1,681,653 135,996 700,0221018,046 141,819 120,000 21,819 18 240,0007,876 112,70426 (12)174,209 914,962 878,117 36,844 4 1,921,653 143,872 812,7261373,817 (85,329) (518,291) 432,962 84 1,465,028 (259,607) (582,322)85Item Variance of +/- $25,000 and +/- 15%(1) YTD Budget and PYTD variance is due to increased usage and PCA revenue in 2023. (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 the LFG Project coming to an end in 2022.(5)YTD Budget variance is due to a even budget spread and PTYD variance is due to less fees in 2023.(6)YTD Budget variance is mainly due to contribution from customers which has an even budget spread. PTYD variance is mainly due to contribution from customers and transmission investments.(7) YTD Budget and PYTD variance is mainly due to increased 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)(10)(11)YTD Budget variance is mainly due to less rebate dollars spent than budgeted.(12)PYTD variance due Furniture & Things energy audit expense of $29K. Total Operating Transfer102,236 Net Income Profit(Loss)496,993YTD Budget variance is due to an even budget spread for misc distribution expense. PYTD variance is due to increased labor (inventory, tool repair, maintenance of rubber goods, electrical apparatus maintenance/repair, and grounds testing/maintenance) and uniform expense in 2023. PYTD variance is mainly due to increased credit card fees/charges and bad debt expense due to 6 year statute of limitation. Utilities & Labor Donated29,115 Customer Accounts Expense36,816 Administrative Expense119,278 General Expense(4,782) Total Expenses(before Operating Transfers)(17,742)Operating Transfer Operating Transfer/Other Funds73,121 Depreciation & Amortization84,766 Interest Expense(17,777) Other Operating Expense7,553 Transmission Expense(251) Distribution Expense54,867 Maintenance Expense68,696 Landfill Gas(340,522) Misc Revenue130,713 Total Other Revenue(186,726) Total Revenue581,486Expenses Purchased Power(94,033) Operating & Mtce Expense67,648 Customer Penalties23,829 LFG Project(484,224) Connection Fees(29,379) Interest/Dividend Income172,335 Rural Big Lake11,602 Dayton13,386 Public St & Hwy Lighting668 Other Electric Sales(1,230,213) Total Operating Revenue768,213Other Operating RevenueRevenueOperating Revenue Elk River1,720,980 Otsego251,789ELK RIVER MUNICIPAL UTILITIESELK RIVER, MINNESOTASTATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITIONFOR PERIOD ENDING JUNE 20232023 YTD Bud Var% YTD 2022 v. 2023 Actual Var%JUNE YTDJUNE YTD VARIANCE58 202320232023YTD 202320222022 YTD Budget ANNUALWaterBUDGET VarianceBUDGETVariance Item438,631 1,162,004 836,320 325,684 39 2,503,414 288,572 963,66621(1)438,631 1,162,004 836,320 325,684 39 2,503,414 288,572 963,666212,254 16,356 18,250 (1,894) (10) 36,500 (3,391) (30,388)154(2)1,1347,282 14,000 (6,718) (48) 28,0001,0205,0104512,961 106,877 259,000 (152,123) (59) 518,000 145,247 806,625(87)(3)9757,0357,02510 0 376,034 25,203 147,870(95)(4)17,324 137,551 298,275 (160,724) (54) 958,534 168,078 929,116(85)455,955 1,299,554 1,134,595 164,959 15 3,461,948 456,650 1,892,782(31)7,086 55,493 45,000 10,493 23 90,0005,882 45,7612153,215 287,416 301,500 (14,084) (5) 603,000 39,079 277,622433,650 184,176 178,1256,051 3 337,650 29,254 146,93325(5)97,653 585,077 584,388689 0 1,202,937 91,788 553,74763,112 18,675 18,6750 0 36,3493,279 20,879(11)1052,4131,0331,380 1342,4701531,646476,711 43,434 42,1851,249 3 84,3706,275 37,7791567,674 491,860 542,458 (50,598) (9) 1,032,655 75,840 471,51743533,7429,325 (5,583) (60) 18,6506564,616(19)269,559 1,672,286 1,722,688 (50,403) (3) 3,408,081 252,206 1,560,499700750(750) (100) 1,50000000750(750) (100) 1,500000186,395 (372,731) (588,843) 216,112 37 52,367 204,444 332,282(212)Item Variance of +/- $15,000 and +/- 15%(1) YTD Budget variance is due to actual usage being higher than budget and PYTD variance is due to rate increase and higher usage in 2023.(2) PYTD variance is due to the change in Fair Market Value of Investments. (3) YTD Budget variance is due to than average connection fees. PYTD variance is due to more Connection Fees in 2022.(4) PYTD variance is due to Water Tower lease revenue being recognized annually in 2023 vs monthly in 2022 (GASB 87). (5) PYTD variance is due to a 2023 water main repair and additional Cty Rd 13 expenses which are partially offset by less water meter change outs in 2023. Net Income Profit(Loss)(705,014) Total Expenses(before Operating Transfers)111,786Operating Transfer Utilities & Labor Donated0 Total Operating Transfer0 Customer Accounts Expense5,655 Administrative Expense20,343 General Expense(874) Depreciation & Amortization31,330 Interest Expense(2,205) Other Operating Expense767 Distribution Expense37,243 Misc Revenue(140,835) Total Other Revenue(791,566) Total Revenue(593,227)Expenses Production Expense9,732 Pumping Expense9,794 Connection Fees(699,748)RevenueOperating Revenue Water Sales198,338 Total Operating Revenue198,338Other Operating Revenue Interest/Dividend Income46,745 Customer Penalties2,273ELK RIVER MUNICIPAL UTILITIESELK RIVER, MINNESOTASTATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITIONFOR PERIOD ENDING JUNE 20232023 YTD Bud Var% YTD 2022 v. 2023 Actual Var%JUNE YTDJUNE YTD VARIANCE59 35.0 40.0 45.0 50.0 55.0 60.0 65.0 70.0 75.0 80.0 Demand in MWMonth Elk River Municipal Utilities Monthly Electrical Demand 2022 2023 15,000 20,000 25,000 30,000 35,000 40,000 Energy Purchases in MWHMonth Elk River Municipal Utilities Monthly Energy Purchases 2022 2023 60 15,000 20,000 25,000 30,000 35,000 40,000 Electric Load in MWHMonth Elk River Municipal Utilities Monthly Total Electric Load 2022 2023 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 Sales in DollarsMonth Elk River Municipal Utilities Monthly Electric Sales 2022 2023 61 - 5,000 10,000 15,000 20,000 25,000 Loads in MWHMonth Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 2022 Residential 2023 Residential 2022 Commercial 2023 Commercial 2022 Industrial 2023 Industrial $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 Sales in DollarsMonth Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales 2022 Residential 2023 Residential 2022 Commercial 2023 Commercial 2022 Industrial 2023 Industrial 62 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 Pumpage in Million Gal.Month Elk River Municipal Utilities Monthly Water Pumpage 2022 2023 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 Peak Day in Million Gal.Month Elk River Municipal Utilities Peak Day Pumpage 2022 2023 63 $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 0 20 40 60 80 100 120 140 160 180 Sales In DollarsSales in Million Gal.Month Elk River Municipal Utilities Monthly Water Sales 2022 MG 2023 MG 2022 $2023 $ 64 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETElectric Revenue Operating Revenue Elk River ELECT SALES - ELK RIVER RESID 1,181,676 6,167,5261,316,872 6,297,5436,415,889 2 414,039,146 248,362 ELECT SALES - ELK RIVER NON-D 290,540 1,523,070323,206 1,587,3861,696,457 7 113,461,850 173,387 ELECT SALES - ELK RIVER DEMA 1,910,154 8,997,5181,867,102 8,971,3398,641,945 (4)(4)20,243,229 (355,572) PCA SALES REVENUE - ELK RIVE 0 0119,265 617,123511,767 (17)01,285,399 511,767 PCA SALES REVENUE - ELK RIVE 0 029,591 171,981147,110 (14)0340,814 147,110 PCA SALES REVENUE - ELK RIVE 0 0230,574 1,307,556995,925 (24)02,670,887 995,925 3,886,612 18,409,095 18,952,930 3,382,371 16,688,115(3)10Total For Elk River:42,041,326 1,720,980 Otsego ELECT SALES - OTSEGO RESIDEN 118,322 625,301144,127 608,559692,786 14 111,420,072 67,484 ELECT SALES - OTSEGO NON-DEM 48,511 210,53251,507 193,822214,259 11 2454,649 3,726 ELECT SALES - OTSEGO DEMAND 131,409 610,275143,430 515,049643,953 25 61,180,452 33,677 PCA SALES REVENUE - OTSEGO R 0 012,880 59,64554,343 (9)0129,685 54,343 PCA SALES REVENUE - OTSEGO N 0 04,893 20,83019,074 (8)044,260 19,074 PCA SALES REVENUE - OTSEGO D 0 017,786 75,12373,481 (2)0156,538 73,481 374,624 1,697,898 1,473,031 298,243 1,446,11015 17Total For Otsego:3,385,657 251,788 Rural Big Lake ELECT SALES - BIG LAKE RESIDE 15,668 91,00917,600 97,97694,780 (3)4214,102 3,770 ELECT SALES - BIG LAKE NON-DE 492 1,2886261,2421,452 17 134,513 163 PCA SALES REVENUE - BIG LAKE 0 01,595 9,6297,577 (21)019,622 7,577 PCA SALES REVENUE - BIG LAKE 0 05412990(30)042090 19,877 103,900 108,978 16,160 92,298(5)13Total For Rural Big Lake:238,658 11,602 Dayton ELECT SALES - DAYTON RESIDEN 16,158 94,61619,048 100,01798,572 (1)4221,646 3,956 ELECT SALES - DAYTON NON-DE 3,589 18,2624,396 18,21618,550 2 239,638 287 PCA SALES REVENUE - DAYTON R 0 01,690 9,8297,673 (22)020,286 7,673 PCA SALES REVENUE - DAYTON 0 03841,9711,468 (26)03,900 1,468 25,519 126,265 130,034 19,747 112,879(3)12Total For Dayton:285,471 13,386 Public St & Hwy Lighting ELECT SALES - SEC LTS 21,496 128,76421,624 130,000129,432 0 1260,000 667 21,624 129,432 130,000 21,496 128,7640 1Total For Public St & Hwy Lighting:260,000 667 Other Electric Sales SUB-STATION CREDIT 400 2,4004002,4002,400 0 04,800 0 RATE INCREASE 308,369 1,230,2120000 (100)0 (1,230,212)65 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETElectric 400 2,400 2,400 308,769 1,232,6120 (100)Total For Other Electric Sales:4,800 (1,230,212) Total Operating Revenue 4,046,789 19,700,7804,328,659 20,797,37520,468,992 (2)446,215,912 768,212 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME (16,178)(138,279)3,068 25,00034,055 36 12550,000 172,334 3,068 34,055 25,000 (16,178)(138,279)36 125Total For Interest/Dividend Income:50,000 172,334 Customer Penalties CUSTOMER DELINQUENT PENALT 30,877 115,78920,399 124,999139,618 12 21250,000 23,828 20,399 139,618 124,999 30,877 115,78912 21Total For Customer Penalties:250,000 23,828 LFG Project LFG PROJECT 99,232 484,2240000 (100)0 (484,224) 0 0 0 99,232 484,2240 (100)Total For LFG Project:0 (484,224) Connection Fees DISCONNECT & RECONNECT CHA 21,000 87,22011,425 109,99957,841 (47)(34)220,000 (29,378) 11,425 57,841 109,999 21,000 87,220(47)(34)Total For Connection Fees:220,000 (29,378) Misc Revenue MISC ELEC REVENUE - TEMP CHG 880 2,84001,0005,114 412 802,000 2,274 STREET LIGHT 0 125010,0001,800 (82)1,34020,000 1,675 TRANSMISSION INVESTMENTS 66,661 281,72564,139 324,615322,232 (1)14649,231 40,506 MISC NON-UTILITY 29,807 74,6758,393 45,00071,944 60 (4)90,000 (2,731) GAIN ON DISPOSITION OF PROPER 0 22,75024,600 024,600 0 801,850 CONTRIBUTIONS FROM CUSTOME 8,717 139,06177,804 87,499226,199 159 63175,000 87,138 174,937 651,891 468,115 106,066 521,17839 25Total For Misc Revenue:936,231 130,713 Total Other Revenue 240,998 1,070,132209,830 728,115883,406 21 (17)1,456,231 (186,726) 209,830 883,406 728,115 240,998 1,070,13221 (17)Total For Total Other Revenue:1,456,231 (186,726) 4,287,787 20,770,9124,538,490 21,525,490Total Revenue 21,352,398 (1)347,672,143 581,486 Expenses Purchased Power PURCHASED POWER 3,429,170 14,871,1022,549,788 11,170,22110,885,207 (3)(27)24,207,981 (3,985,895) ENERGY ADJUSTMENT CLAUSE 0 0879,742 4,149,5483,891,862 (6)08,558,044 3,891,862 3,429,531 14,777,070 15,319,770 3,429,170 14,871,102(4)(1)Total For Purchased Power:32,766,025 (94,032) Operating & Mtce Expense 66 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETElectric OPERATING SUPERVISION 10,381 56,3878,790 68,50059,965 (12)6137,000 3,577 DIESEL OIL FUEL 76 1,47404,9993,657 (27)14810,000 2,182 NATURAL GAS 222 11,77232113,50020,794 54 7725,000 9,022 ELECTRIC & WATER CONSUMPTI 1,724 18,3344,372 19,20033,124 73 8134,000 14,789 PLANT SUPPLIES & OTHER EXPEN 1 3,7263546,49920,659 218 45413,000 16,933 MISC POWER GENERATION EXPE 294 2,5032324,0003,425 (14)378,000 921 MAINTENANCE OF STRUCTURE -1,031 8,0761,497 10,00011,615 16 4420,000 3,538 MTCE OF PLANT ENGINES/GENER 787 6,3251,529 19,50014,702 (25)13239,000 8,377 MTCE OF PLANT/LAND IMPROVE 582 13,4901,450 20,00021,795 9 6235,000 8,305 18,547 189,739 166,200 15,101 122,09114 55Total For Operating & Mtce Expense:321,000 67,648 Landfill Gas LANDFILL GAS PLANT PURCHASE 14,775 79,2770000 (100)0 (79,277) LANDFILL GAS PLANT OPERATIO 41,518 249,1120000 (100)0 (249,112) LANDFILL GAS PLANT ADMINIST 222 1,6750000 (100)0 (1,675) LANDFILL GAS PLANT INSURANC 1,623 9,7420000 (100)0 (9,742) LANDFILL GAS PLANT MTCE 140 7140000 (100)0 (714) 0 0 0 58,280 340,5220 (100)Total For Landfill Gas:0 (340,522) Transmission Expense TRANSMISSION MTCE AND EXPE 5,645 33,2306,559 34,99932,979 (6)(1)70,000 (251) 6,559 32,979 34,999 5,645 33,230(6)(1)Total For Transmission Expense:70,000 (251) Distribution Expense REMOVE EXISTING SERVICE & M 0 19405255423 1781,050 347 SCADA EXPENSE 5,129 21,3203,584 22,00020,550 (7)(4)44,000 (769) TRANSFORMER EXPENSE OH & U 950 6,1931,242 7,5008,659 15 4015,000 2,465 MTCE OF SIGNAL SYSTEMS 469 1,4165401,0001,706 71 212,000 290 METER EXPENSE - REMOVE & RE 97 37207501,002 34 1691,500 630 TEMP SERVICE - INSTALL & REM 454 1,910581,7504,874 179 1553,500 2,964 MISC DISTRIBUTION EXPENSE 16,631 165,36125,436 150,000214,299 43 30300,000 48,937 INTERCONNECTION CARRYING C 0 00000 02,416 0 30,862 251,636 183,525 23,732 196,76937 28Total For Distribution Expense:369,466 54,866 Maintenance Expense MTCE OF STRUCTURES 2,178 12,4969,759 22,99932,463 41 16046,000 19,967 MTCE OF SUBSTATIONS 5,676 18,51159617,50018,756 7 135,000 244 MTCE OF SUBSTATION EQUIPME 1,045 26,9225,935 38,50028,030 (27)477,000 1,107 MTCE OF OH LINES/TREE TRIM 1,837 109,392503177,000167,975 (5)54225,000 58,583 67 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETElectric MTCE OF OH LINES/STANDBY 2,269 16,8832,287 19,99917,231 (14)240,000 347 MTCE OF OH PRIMARY 13,839 81,61913,641 85,00082,110 (3)1170,000 490 MTCE OF URD PRIMARY 16,437 96,68620,752 85,00091,607 8 (5)170,000 (5,078) LOCATE ELECTRIC LINES 12,624 46,67010,770 52,99943,577 (18)(7)106,000 (3,093) LOCATE FIBER LINES 130 375101499236(53)(37)1,000 (139) MTCE OF LINE TRANSFORMERS 714 13,6093,355 30,00011,143 (63)(18)60,000 (2,465) MTCE OF STREET LIGHTING 15,045 26,2372,756 22,50016,691 (26)(36)45,000 (9,546) MTCE OF SECURITY LIGHTING 2,099 7,6922,346 7,50010,532 40 3715,000 2,840 MTCE OF METERS 10,053 44,0553,883 42,49927,440 (35)(38)85,000 (16,615) VOLTAGE COMPLAINTS 997 3,5848564,9995,780 16 6110,000 2,196 SALARIES TRANSMISSION & DIST 2,448 13,9312,235 15,25014,172 (7)230,500 240 ELECTRIC MAPPING 8,603 53,8255,976 47,50078,028 64 4595,000 24,203 MTCE OF OH SECONDARY 3,321 9,3682,966 12,49910,938 (12)1725,000 1,569 MTCE OF URD SECONDARY 14,603 33,9825,142 30,00024,169 (19)(29)60,000 (9,812) TRANSPORTATION EXPENSE 23,764 150,06210,183 122,500153,717 25 2245,000 3,655 104,051 834,602 834,750 137,691 765,9060 9Total For Maintenance Expense:1,540,500 68,695 Depreciation & Amortization DEPRECIATION 193,125 1,163,214205,544 1,256,1061,247,980 (1)72,552,700 84,766 AMORTIZATION 55,677 334,06755,677 334,068334,067 0 0668,136 0 261,222 1,582,047 1,590,174 248,803 1,497,281(1)6Total For Depreciation & Amortization:3,220,836 84,766 Interest Expense INTEREST EXPENSE - BONDS 75,850 459,15973,213 440,478440,478 0 (4)870,695 (18,681) AMORTIZATION OF DEBT DISCOU (4,988)(30,834)(4,988)(29,931)(29,931)0 3(59,863)903 68,224 410,547 410,547 70,862 428,3240 (4)Total For Interest Expense:810,832 (17,777) Other Operating Expense EV CHARGING EXPENSE 594 2,7352513,865856 (78)(69)7,731 (1,878) LOSS ON DISPOSITION OF PROP (C 0 00000 015,500 0 OTHER DONATIONS 472 46301,500108 (93)(77)3,000 (355) MUTUAL AID 1,876 10,6320000 (100)0 (10,632) PENSION EXPENSE 0 00000 045,000 0 OTHER INTEREST EXPENSE 378 2,62003783780 (86)378 (2,242) INTEREST EXPENSE - METER DEP 166 9893,975 1,24923,650 1,792 2,2892,500 22,661 4,226 24,993 6,993 3,487 17,441257 43Total For Other Operating Expense:74,109 7,552 Customer Accounts Expense METER READING EXPENSE 3,992 23,8193,390 23,50019,855 (16)(17)47,000 (3,963) 68 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETElectric DISCONNECT/RECONNECT EXPEN 2,633 10,7502,483 10,99910,800 (2)022,000 50 MISC CUSTOMER ACCOUNTS EXP 23,435 142,08125,337 156,250163,606 5 15312,500 21,524 BAD DEBT EXPENSE & RECOVER 670 3,454(1,121)10,00022,659 127 55620,000 19,204 30,090 216,921 200,750 30,732 180,1058 20Total For Customer Accounts Expense:401,500 36,815 Administrative Expense SALARIES OFFICE & COMMISSION 69,468 388,74165,254 475,000403,705 (15)4950,000 14,964 TEMPORARY STAFFING 0 001,9990 (100)04,000 0 OFFICE SUPPLIES 7,153 37,3739,995 53,50066,313 24 77107,000 28,940 ELECTRIC & WATER CONSUMPTI 2,551 11,9262,821 14,50014,680 1 2329,000 2,753 BANK FEES 130 9401301,249879 (30)(7)2,500 (61) LEGAL FEES 2,726 16,44067219,99911,304 (43)(31)40,000 (5,135) AUDITING FEES 1,503 9,0191,623 9,25910,699 16 1918,520 1,680 INSURANCE 22,563 91,44016,709 93,000110,498 19 21186,000 19,057 UTILITY SHARE - DEFERRED COM 8,328 75,3708,408 61,99979,446 28 5124,000 4,076 UTILITY SHARE - MEDICAL/DENT 68,347 478,72255,209 492,218473,812 (4)(1)858,481 (4,910) UTILITY SHARE - PERA 22,997 135,78323,880 144,000145,024 1 7288,000 9,240 UTILITY SHARE - FICA 22,716 131,29323,886 139,999141,324 1 8280,000 10,031 EMPLOYEE SICK PAY 8,355 77,6908,999 75,00085,998 15 11150,000 8,308 EMPLOYEE HOLIDAY PAY 0 38,93413,759 57,27270,503 23 81157,500 31,569 EMPLOYEE VACATION & PTO PA 17,851 131,27318,868 136,000148,947 10 13250,000 17,673 UPMIC DISTRIBUTION 11,239 21,81517,644 45,50736,462 (20)6791,015 14,646 LONGEVITY PAY 1,550 1,5505,580 7,5047,503 0 38416,369 5,953 CONSULTING FEES 13,082 54,198040,0003,415 (91)(94)80,000 (50,783) TELEPHONE 3,098 17,5233,024 20,50018,933 (8)841,000 1,410 ADVERTISING 1,885 7,7299987,5007,033 (6)(9)15,000 (695) DUES & SUBSCRIPTIONS - FEES 9,681 59,3149,599 86,33758,652 (32)(1)172,675 (661) SCHOOLS & MEETINGS 6,604 95,9838,947 140,500104,843 (25)9259,925 8,860 MTCE OF GENERAL PLANT & OFFI 609 3,6561,002 3,7996,016 58 657,600 2,359 297,017 2,005,999 2,126,650 302,445 1,886,721(6)6Total For Administrative Expense:4,128,585 119,277 General Expense CIP REBATES - RESIDENTIAL 4,755 24,35210,151 50,08526,476 (47)9100,170 2,124 CIP REBATES - COMMERCIAL 50,443 61,1265,705 94,79140,004 (58)(35)189,583 (21,122) CIP - ADMINISTRATION 424 2,5871,885 9,8506,467 (34)15019,700 3,879 CIP - MARKETING 5,209 14,2432,648 15,01920,917 39 4730,039 6,674 CIP - LABOR 13,305 73,74511,283 89,25571,541 (20)(3)178,511 (2,203)69 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETElectric CIP REBATES - LOW INCOME 0 4,1857,609 9,00011,879 32 18418,000 7,694 CIP - LOW INCOME LABOR 767 5,3307804,9435,033 2 (6)9,887 (296) ENVIRONMENTAL COMPLIANCE 2,596 15,2892417,1097,818 (54)(49)34,219 (7,471) MISC GENERAL EXPENSE 65 150411,2496,091 387 3,9342,500 5,940 40,129 196,229 291,304 77,567 201,011(33)(2)Total For General Expense:582,609 (4,781) Total Expenses(before Operating Transfers) 4,403,522 20,540,5084,290,464 21,165,66420,522,765 (3)044,285,462 (17,742) Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R 135,995 700,021156,163 758,117773,142 2 101,681,653 73,121 156,163 773,142 758,117 135,995 700,0212 10Total For Operating Transfer/Other Funds:1,681,653 73,121 Utilities & Labor Donated UTILITIES & LABOR DONATED TO 7,876 112,70418,045 120,000141,819 18 26240,000 29,115 18,045 141,819 120,000 7,876 112,70418 26Total For Utilities & Labor Donated:240,000 29,115 Total Operating Transfer 174,209 914,961 878,117 143,871 812,7254 13Total For Total Operating Transfer:1,921,653 102,236 (259,606)(582,321)73,817 (518,291) Net Income Profit(Loss)(85,328)84 851,465,028 496,992 70 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETWater Revenue Operating Revenue Water Sales WATER SALES RESIDENTIAL 175,581 599,011285,791 503,987727,539 44 211,397,043 128,527 WATER SALES COMMERCIAL 88,842 328,518101,687 301,528360,217 19 10850,022 31,698 WATER SALES IRRIGATION 24,148 36,13551,152 30,80374,247 141 105256,349 38,111 438,630 1,162,003 836,319 288,571 963,66539 21Total For Water Sales:2,503,414 198,338 Total Operating Revenue 288,571 963,665438,630 836,3191,162,003 39 212,503,414 198,338 438,630 1,162,003 836,319 288,571 963,66539 21Total For Total Operating Revenue:2,503,414 198,338 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME (3,391)(30,388)2,253 17,50016,356 (7) 15435,000 46,744 OTHER INTEREST/MISC REVENUE 0 007500(100)01,500 0 2,253 16,356 18,250 (3,391)(30,388)(10) 154Total For Interest/Dividend Income:36,500 46,744 Customer Penalties CUSTOMER PENALTIES 1,019 5,0091,134 13,9997,282 (48)4528,000 2,272 1,134 7,282 13,999 1,019 5,009(48)45Total For Customer Penalties:28,000 2,272 Connection Fees WATER/ACCESS/CONNECTION FE 135,990 770,35611,190 225,00094,325 (58)(88)450,000 (676,030) CUSTOMER CONNECTION FEES 9,142 34,53296619,9995,404 (73)(84)40,000 (29,127) BULK WATER SALES/HYDRANT R 114 1,73680513,9997,146 (49)31128,000 5,409 12,961 106,877 258,999 145,246 806,625(59)(87)Total For Connection Fees:518,000 (699,747) Misc Revenue MISC NON-UTILITY 0 2502520(20)(20)50 (5) MISCELLANEOUS REVENUE 287 28702502584 (10)500 (28) HYDRANT MAINTENANCE PROGR 980 6,2149756,7506,756 0 913,500 541 CONTRIBUTIONS FROM DEVELOP 0 00000 065,000 0 WATER TOWER LEASE 23,934 141,3420000 (100)296,984 (141,342) 975 7,034 7,025 25,202 147,8690 (95)Total For Misc Revenue:376,034 (140,834) Total Other Revenue 168,078 929,11617,323 298,275137,550 (54)(85)958,534 (791,565) 17,323 137,550 298,275 168,078 929,116(54)(85)Total For Total Other Revenue:958,534 (791,565) 456,649 1,892,781455,954 1,134,594Total Revenue 1,299,554 15 (31)3,461,948 (593,227) 71 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETWater Expenses Production Expense MTCE OF STRUCTURES 5,882 45,7617,086 45,00055,493 23 2190,000 9,732 7,086 55,493 45,000 5,882 45,76123 21Total For Production Expense:90,000 9,732 Pumping Expense SUPERVISION 4,951 30,0564,128 34,50031,016 (10)369,000 960 ELECTRIC & GAS UTILITIES 28,529 130,85735,261 144,000158,513 10 21288,000 27,655 SAMPLING 1,542 7,3207647,5007,442 (1)215,000 121 CHEMICAL FEED 5,301 13,7665,782 25,00018,628 (25)3550,000 4,861 MTCE OF ELECTRIC PUMPING EQ 0 460000 (100)0 (46) MTCE OF WELLS (1,504)90,7767,044 82,50070,144 (15)(23)165,000 (20,632) SCADA - PUMPING 259 4,7982347,9991,670 (79)(65)16,000 (3,127) 53,214 287,415 301,500 39,079 277,621(5)4Total For Pumping Expense:603,000 9,794 Distribution Expense MTCE OF WATER MAINS 6,039 30,28815,612 60,00091,182 52 201120,000 60,893 LOCATE WATER LINES 1,270 4,4411,135 8,6253,594 (58)(19)17,250 (847) MTCE OF WATER SERVICES 249 326001840 (43)0 (141) WATER METER SERVICE 9,952 47,2034,706 33,00012,853 (61)(73)66,000 (34,349) BACKFLOW DEVICE INSPECTION 1,876 6,8041,810 8,0009,235 15 3616,000 2,430 MTCE OF CUSTOMERS SERVICE 2,319 13,6932,435 15,25014,818 (3)830,500 1,125 WATER MAPPING 514 2,0451,063 6,2508,963 43 33812,500 6,918 MTCE OF WATER HYDRANTS - PU 4,047 7,2242,574 9,4997,145 (25)(1)19,000 (78) MTCE OF WATER HYDRANTS - PR 686 9882,694 2,5002,721 9 1755,000 1,732 WATER CLOTHING/PPE 306 5,3153364,5007,619 69 439,000 2,304 WAGES WATER 600 3,0584513,6493,456 (5)137,300 398 TRANSPORTATION EXPENSE 1,390 7,1718308,2506,646 (19)(7)16,500 (525) WATER PERMIT 0 18,370018,60015,752 (15)(14)18,600 (2,617) 33,650 184,175 178,125 29,254 146,9333 25Total For Distribution Expense:337,650 37,242 Depreciation & Amortization DEPRECIATION 91,788 553,74697,652 584,388585,077 0 61,202,937 31,330 97,652 585,077 584,388 91,788 553,7460 6Total For Depreciation & Amortization:1,202,937 31,330 Interest Expense INTEREST EXPENSE - BONDS 3,833 24,2043,666 22,00022,000 0 (9)43,000 (2,204) AMORTIZATION OF DEBT DISCOU (554)(3,325)(554)(3,325)(3,325)0 0(6,651)0 3,112 18,674 18,674 3,279 20,8790 (11)Total For Interest Expense:36,349 (2,204) Other Operating Expense 72 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETWater LOSS ON DISPOSITION OF PROP (C 0 00000 05000 DAM MAINTENANCE EXPENSE 53 96408741,689 93 751,750 724 OTHER INTEREST EXPENSE 94 655095940 (85)95 (560) INTEREST EXPENSE - METER DEP 4 2610462629898 2,230125602 104 2,412 1,032 152 1,645134 47Total For Other Operating Expense:2,470 767 Customer Accounts Expense METER READING EXPENSE 207 1,1941671,2491,022 (18)(14)2,500 (171) MISC CUSTOMER ACCOUNTS EXP 6,067 36,5846,543 40,81042,411 4 1681,620 5,826 BAD DEBT EXPENSE & RECOVER 0 001240(100)02500 6,710 43,433 42,184 6,275 37,7783 15Total For Customer Accounts Expense:84,370 5,655 Administrative Expense SALARIES OFFICE & COMMISSION 20,075 113,19318,577 134,250116,042 (14)3268,500 2,848 TEMPORARY STAFFING 0 004990(100)01,000 0 OFFICE SUPPLIES 1,461 7,1661,809 12,75014,678 15 10525,500 7,512 ELECTRIC & WATER CONSUMPTI 637 2,9817054,0003,670 (8)238,000 688 BANK FEES 32 24532312226(28)(8)625 (19) LEGAL FEES 681 4,0631684,5002,290 (49)(44)9,000 (1,772) AUDITING FEES 375 2,2544052,3143,220 39 434,630 966 INSURANCE 4,982 16,0713,671 18,00031,145 73 9436,000 15,073 UTILITY SHARE - DEFERRED COM 1,583 13,8351,310 15,25013,295 (13)(4)30,500 (540) UTILITY SHARE - MEDICAL/DENT 17,153 124,32514,974 129,909120,226 (7)(3)215,000 (4,098) UTILITY SHARE - PERA 4,386 26,0934,022 27,00027,024 0 454,000 930 UTILITY SHARE - FICA 4,213 24,9844,151 25,99926,198 1 552,000 1,213 EMPLOYEE SICK PAY 2,068 12,5311,303 13,50014,430 7 1527,000 1,899 EMPLOYEE HOLIDAY PAY 0 6,8512,527 11,20012,131 8 7730,800 5,279 EMPLOYEE VACATION & PTO PA 2,895 23,6773,112 24,36326,335 8 1144,000 2,658 UPMIC DISTRIBUTION 2,344 4,5442,652 9,0346,284 (30)3818,069 1,739 WELLHEAD PROTECTION 0 4,724010,0006,861 (31)4510,000 2,137 LONGEVITY PAY 0 02,170 2,2712,271 0 03,106 2,271 CONSULTING FEES 4,823 16,9241,400 17,5007,283 (58)(57)35,000 (9,641) TELEPHONE 727 4,1786854,7504,305 (9)39,500 127 ADVERTISING 415 1,8032493,2502,516 (23)406,500 712 DUES & SUBSCRIPTIONS - FEES 5,757 40,1891,746 39,00036,318 (7)(10)78,320 (3,870) SCHOOLS & MEETINGS 1,071 19,9611,746 31,85213,597 (57)(32)63,705 (6,364) MTCE OF GENERAL PLANT & OFFI 152 9142509491,504 58 651,900 58973 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JUNE 2023 2023 JUNE 2022 JUNE 2023 YTD 2022 YTD 2023 YTD BUDGET 2023 YTD Bud Var% 2022 v. 2023 Actual Var% YTD VARIANCE 2023 ANNUAL BUDGETWater 67,673 491,860 542,458 75,840 471,517(9)4Total For Administrative Expense:1,032,655 20,343 General Expense CIP REBATES - RESIDENTIAL 149 4341445,250646 (88)4910,500 212 CIP REBATES - COMMERCIAL 0 002500(100)05000 CIP - MARKETING 84 613189250777211 27500163 CIP - LABOR 375 2,28402,3501,288 (45)(44)4,700 (995) ENVIRONMENTAL COMPLIANCE 46 1,284401,0991,053 (4)(18)2,200 (230) MISC GENERAL EXPENSE 0 0(20)124(24)(119)0250(24) 353 3,742 9,325 655 4,616(60)(19)Total For General Expense:18,650 (873) Total Expenses(before Operating Transfers) 252,206 1,560,499269,559 1,722,6881,672,285 (3)73,408,081 111,786 Operating Transfer Utilities & Labor Donated WATER & LABOR DONATED TO CI 0 007500(100)01,500 0 Total Operating Transfer 0 0 750 0 0(100)0Total For Total Operating Transfer:1,500 0 204,443 332,282186,395 (588,843) Net Income Profit(Loss)(372,731)37 (212)52,367 (705,013) 74 75 76