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5.02g ERMUSR 11-14-2023ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING SEPTEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric SEPTEMBER YTD BUDGET BUDGET Bud Var% SEPTEMBER YTD VARIANCE Actual Var% Revenue Operating Revenue Elk River ELECT SALES - ELK RIVER RESID 1,553,511 10,679,678 10,724,792 14,039,146 0 1,510,291 10,503,372 176,305 ELECT SALES - ELK RIVER NON-D 363,653 2,705,645 2,597,716 3,461,850 4 347,726 2,492,463 213,181 ELECT SALES - ELK RIVER DEMA 1,974,795 14,322,025 15,083,159 20,243,229 (5) 2,235,458 15,127,173 (805,148) PCA SALES REVENUE- ELK RIVE 96,484 852,138 1,005,298 1,285,399 (15) 0 0 852,138 PCA SALES REVENUE - ELK RIVE 22,882 228,831 262,240 340,814 (13) 0 0 228,831 PCA SALES REVENUE - ELK RIVE 162,061 1,592,012 2,037,545 2,670,887 (22) 0 0 1,592,012 Total For Elk River: 4,173,389 30,380,331 31,710,753 42,041,326 (4) 4,093,476 28,123,009 2,257,321 Otsego ELECT SALES - OTSEGO RESIDEN 190,830 1,187,763 1,080,979 1,420,072 10 175,506 1,110,718 77,044 ELECT SALES - OTSEGO NON-DEM 64,291 379,980 345,387 454,649 10 61,572 375,165 4,814 ELECT SALES - OTSEGO DEMAND 161,654 1,075,446 883,748 1,180,452 22 160,241 1,047,142 28,304 PCA SALES REVENUE - OTSEGO R 11,844 93,279 101,055 129,685 (8) 0 0 93,279 PCA SALES REVENUE - OTSEGO N 4,196 32,827 34,369 44,260 (4) 0 0 32,827 PCA SALES REVENUE - OTSEGO D 13,802 118,748 117,772 156,538 1 0 0 118,748 Total For Otsego: 446,618 2,888,045 2,563,314 3,385,657 13 397,320 2,533,026 355,018 Rural Big Lake ELECT SALES - BIG LAKE RESIDE 22,700 152,926 162,848 214,102 (6) 21,562 151,268 1,657 ELECT SALES - BIG LAKE NON -DE 948 3,992 3,661 4,513 9 949 3,797 194 PCA SALES REVENUE - BIG LAKE 1,428 12,203 15,316 19,622 (20) 0 0 12,203 PCA SALES REVENUE - BIG LAKE 59 293 345 420 (15) 0 0 293 Total For Rural Big Lake: 25,137 169,415 182,172 238,658 (7) 22,511 155,066 14,348 Dayton ELECT SALES - DAYTON RESIDEN 25,582 164,602 170,507 221,646 (3) 23,746 161,300 3,301 ELECT SALES - DAYTON NON -DE 4,503 30,633 30,347 39,638 1 4,399 30,424 208 PCA SALES REVENUE - DAYTON R 1,583 12,844 16,002 20,286 (20) 0 0 12,844 PCA SALES REVENUE - DAYTON 264 2,373 3,055 3,900 (22) 0 0 2,373 Total For Dayton: 31,934 210,452 219,912 285,471 (4) 28,145 191,724 18,728 Public St & Hwy Lighting ELECT SALES - SEC LTS 21,611 194,200 195,000 260,000 0 21,688 193,584 615 Total For Public St & Hwy Lighting: 21,611 194,200 195,000 260,000 0 21,688 193,584 615 Other Electric Sales SUB -STATION CREDIT 400 3,600 3,600 4,800 0 400 3,600 0 RATE INCREASE 0 0 67 0 0 0 (71,207) 1,419,642 (1,419,642) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING SEPTEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric SEPTEMBER YTD BUDGET BUDGET Bud Var% SEPTEMBER YTD VARIANCE Actual Var% Total For Other Electric Sales: 400 3,600 3,600 4,800 0 (70,807) 1,423,242 (1,419,642) (100) Total Operating Revenue 4,699,091 33,846,046 34,874,752 46,215,912 (3) 4,492,336 32,619,656 1,226,389 4 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME 4,668 71,135 37,500 50,000 90 (57,823) (181,139) 252,274 139 Total For Interest/Dividend Income: 4,668 71,135 37,500 50,000 90 (57,823) (181,139) 252,274 139 Customer Penalties CUSTOMER DELINQUENT PENALT 39,991 234,808 187,499 250,000 25 29,257 212,982 21,825 10 Total For Customer Penalties: 39,991 234,808 187,499 250,000 25 29,257 212,982 21,825 10 LFG Project LFG PROJECT 0 0 0 0 0 90,387 760,382 (760,382) (100) Total For LFG Project: 0 0 0 0 0 90,387 760,382 (760,382) (100) Connection Fees DISCONNECT & RECONNECT CHA 15,470 100,356 164,999 220,000 (39) 9,325 152,995 (52,638) (34) Total For Connection Fees: 15,470 100,356 164,999 220,000 (39) 9,325 152,995 (52,638) (34) Misc Revenue MISC ELEC REVENUE - TEMP CHG 440 5,774 1,500 2,000 285 1,540 4,380 1,394 32 STREET LIGHT 0 1,800 15,000 20,000 (88) 0 6,425 (4,625) (72) TRANSMISSION INVESTMENTS 69,113 532,895 486,923 649,231 9 60,068 473,609 59,286 13 MISC NON -UTILITY 14,258 111,547 67,500 90,000 65 8,656 119,704 (8,156) (7) GAIN ON DISPOSITION OF PROPER 15,710 40,310 0 0 0 10,788 33,538 6,772 20 CONTRIBUTIONS FROM CUSTOME 15,135 313,139 131,249 175,000 139 13,684 271,868 41,270 15 Total For Misc Revenue: 114,656 1,005,468 702,173 936,231 43 94,737 909,525 95,942 11 Total Other Revenue 174,785 1,411,767 1,092,173 1,456,231 29 165,884 1,854,745 (442,978) (24) Total For Total Other Revenue: 174,785 1,411,767 1,092,173 1,456,231 29 165,884 1,854,745 (442,978) (24) Total Revenue 35,966,925 4,873,877 2 35,257,813 47,672,143 (2) 4,658,220 34,474,401 783,411 Expenses Purchased Power PURCHASED POWER 2,307,862 18,517,039 19,139,792 24,207,981 (3) 3,086,039 24,875,107 (6,358,068) (26) ENERGY ADJUSTMENT CLAUSE 583,464 6,127,404 6,554,276 8,558,044 (7) 0 0 6,127,404 0 Total For Purchased Power: 2,891,326 24,644,444 25,694,068 32,766,025 (4) 3,086,039 24,875,107 (230,663) (1) Operating & Mtce Expense 68 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING SEPTEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric SEPTEMBER YTD BUDGET BUDGET Bud Var% SEPTEMBER YTD VARIANCE Actual Var% OPERATING SUPERVISION 9,647 89,885 102,750 137,000 (13) 14,247 96,871 (6,985) (7) DIESEL OIL FUEL 174 3,854 7,499 10,000 (49) 106 1,839 2,014 110 NATURAL GAS 337 21,844 14,700 25,000 49 236 12,457 9,387 75 ELECTRIC & WATER CONSUMPTI 4,301 47,884 25,300 34,000 89 2,020 24,215 23,669 98 PLANT SUPPLIES & OTHER EXPEN 1,769 25,957 9,749 13,000 166 1,307 5,343 20,614 386 M1SC POWER GENERATION EXPE 97 3,717 6,000 8,000 (38) 299 3,607 110 3 MAINTENANCE OF STRUCTURE - 694 15,659 15,000 20,000 4 879 11,028 4,630 42 MTCE OF PLANT ENGINES/GENER 439 16,277 29,250 39,000 (44) 494 10,243 6,033 59 MTCE OF PLANT/LAND IMPROVE 296 24,409 21,500 35,000 14 220 13,954 10,455 75 Total For Operating & Mtce Expense: 17,757 249,491 231,750 321,000 8 19,812 179,561 69,930 39 Landfill Gas LANDFILL GAS PLANT PURCHASE 0 0 0 0 0 14,412 123,294 (123,294) (100) LANDFILL GAS PLANT OPERATIO 0 0 0 0 0 41,518 354,116 (354,116) (100) LANDFILL GAS PLANT ADMINIST 0 0 0 0 0 223 2,262 (2,262) (100) LANDFILL GAS PLANT INSURANC 0 0 0 0 0 1,948 15,586 (15,586) (100) LANDFILL GAS PLANT MTCE 0 0 0 0 0 140 1,135 (1,135) (100) Total For Landfill Gas: 0 0 0 0 0 58,243 496,395 (496,395) (100) Transmission Expense TRANSMISSION MTCE AND EXPE 5,405 49,431 52,499 70,000 (6) 5,431 49,497 (66) 0 Total For Transmission Expense: 5,405 49,431 52,499 70,000 (6) 5,431 49,497 (66) 0 Distribution Expense REMOVE EXISTING SERVICE & M 0 542 787 1,050 (31) 0 194 347 178 SCADA EXPENSE 6,103 39,731 33,000 44,000 20 5,012 32,021 7,710 24 TRANSFORMER EXPENSE OH & U 1,909 13,574 11,250 15,000 21 920 9,033 4,541 50 MTCE OF SIGNAL SYSTEMS 0 2,495 1,500 2,000 66 0 1,815 680 38 METER EXPENSE - REMOVE & RE 183 1,349 1,125 1,500 20 0 582 767 132 TEMP SERVICE - INSTALL & REM 433 5,739 2,625 3,500 119 907 3,197 2,542 80 M1SC DISTRIBUTION EXPENSE 18,104 273,230 225,000 300,000 21 25,854 224,492 48,737 22 INTERCONNECTION CARRYING C 0 0 0 2,416 0 0 0 0 0 Total For Distribution Expense: 26,734 336,663 275,287 369,466 22 32,695 271,336 65,327 24 Maintenance Expense MTCE OF STRUCTURES 5,181 48,726 34,499 46,000 41 2,382 19,743 28,983 147 MTCE OF SUBSTATIONS 15,516 35,182 26,250 35,000 34 4,753 34,421 760 2 MTCE OF SUBSTATION EQUIPME 4,558 43,261 57,750 77,000 (25) 989 31,905 11,356 36 MTCE OF OH LINES/TREE TRIM 1,689 178,521 180,000 225,000 (1) 1,785 112,048 66,472 59 69 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING SEPTEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric SEPTEMBER YTD BUDGET BUDGET Bud Var% SEPTEMBER YTD VARIANCE Actual Var% MTCE OF OH LINES/STANDBY 2,382 26,410 29,999 40,000 (12) 2,866 25,593 816 3 MTCE OF OH PRIMARY 16,112 121,318 127,500 170,000 (5) 13,757 146,267 (24,949) (17) MTCE OF URD PRIMARY 19,138 173,847 127,500 170,000 36 21,614 159,101 14,746 9 LOCATE ELECTRIC LINES 10,717 75,995 79,499 106,000 (4) 9,130 76,097 (101) 0 LOCATE FIBER LINES 0 269 749 1,000 (64) 114 619 (349) (56) MTCE OF LINE TRANSFORMERS 3,308 69,145 45,000 60,000 54 2,645 23,880 45,265 190 MTCE OF STREET LIGHTING (2,031) 28,533 33,750 45,000 (15) 3,729 37,946 (9,413) (25) MTCE OF SECURITY LIGHTING 1,854 14,656 11,250 15,000 30 453 13,825 830 6 MTCE OF METERS 11,912 52,971 63,749 85,000 (17) 5,286 62,026 (9,055) (15) VOLTAGE COMPLAINTS 1,230 9,705 7,499 10,000 29 412 5,536 4,168 75 SALARIES TRANSMISSION & DIST 2,239 20,921 22,875 30,500 (9) 2,527 21,032 (111) (1) ELECTRIC MAPPING 2,947 93,060 71,250 95,000 31 5,266 67,539 25,520 38 MTCE OF OH SECONDARY 1,571 19,322 18,749 25,000 3 3,441 16,085 3,236 20 MTCE OF URD SECONDARY 6,177 45,465 45,000 60,000 1 6,513 48,856 (3,390) (7) TRANSPORTATION EXPENSE 19,325 212,989 183,750 245,000 16 28,612 216,143 (3,153) (1) Total For Maintenance Expense: 123,833 1,270,305 1,166,625 1,540,500 9 116,282 1,118,673 151,632 14 Depreciation & Amortization DEPRECIATION 208,189 1,871,068 1,894,159 2,552,700 (1) 194,061 1,747,494 123,574 7 AMORTIZATION 55,677 501,101 501,102 668,136 0 55,677 501,101 0 0 Total For Depreciation & Amortization: 263,867 2,372,170 2,395,261 3,220,836 (1) 249,738 2,248,595 123,574 5 Interest Expense INTEREST EXPENSE - BONDS 71,400 656,492 656,492 870,695 0 74,413 683,835 (27,343) (4) AMORTIZATION OF DEBT DISCOU (4,988) (44,896) (44,896) (59,863) 0 (4,988) (45,800) 903 2 Total For Interest Expense: 66,412 611,595 611,595 810,832 0 69,424 638,035 (26,439) (4) Other Operating Expense EV CHARGING EXPENSE 209 1,550 5,798 7,731 (73) 1,311 5,128 (3,577) (70) LOSS ON DISPOSITION OF PROP (C 0 13,073 15,500 15,500 (16) 0 0 13,073 0 OTHER DONATIONS 0 108 2,250 3,000 (95) 1,938 3,483 (3,374) (97) MUTUAL AID 0 4,415 0 0 0 8,994 19,627 (15,211) (78) PENSION EXPENSE 0 0 0 45,000 0 0 0 0 0 OTHER INTEREST EXPENSE 0 378 378 378 0 378 3,754 (3,376) (90) INTEREST EXPENSE - METER DEP 4,055 35,676 1,874 2,500 1,803 168 1,490 34,186 2,294 Total For Other Operating Expense: 4,264 55,203 25,801 74,109 114 12,790 33,483 21,719 65 Customer Accounts Expense METER READING EXPENSE 4,178 31,367 35,250 47,000 (11) 4,519 36,429 (5,062) (14) a ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING SEPTEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric SEPTEMBER YTD BUDGET BUDGET Bud Var% SEPTEMBER YTD VARIANCE Actual Var% DISCONNECT/RECONNECT EXPEN 2,965 17,627 16,499 22,000 7 3,858 19,898 (2,270) (11) MISC CUSTOMER ACCOUNTS EXP 28,769 249,133 234,375 312,500 6 30,717 225,480 23,653 10 BAD DEBT EXPENSE & RECOVER 216 24,179 15,000 20,000 61 456 7,502 16,676 222 Total For Customer Accounts Expense: 36,129 322,307 301,125 401,500 7 39,551 289,311 32,996 11 Administrative Expense SALARIES OFFICE & COMMISSION 61,586 595,502 712,500 950,000 (16) 69,743 598,289 (2,786) 0 TEMPORARY STAFFING 0 0 2,999 4,000 (100) 0 0 0 0 OFFICE SUPPLIES 5,592 92,010 80,250 107,000 15 4,755 53,094 38,916 73 ELECTRIC & WATER CONSUMPTI 2,472 22,670 21,750 29,000 4 2,460 19,824 2,846 14 BANK FEES 115 1,346 1,874 2,500 (28) 125 1,439 (92) (6) LEGAL FEES 668 16,372 29,999 40,000 (45) 4,812 24,341 (7,969) (33) AUDITING FEES 1,623 15,569 13,889 18,520 12 1,503 13,529 2,040 15 INSURANCE 14,679 154,535 139,500 186,000 11 14,472 134,858 19,677 15 UTILITY SHARE - DEFERRED COM 7,008 99,957 92,999 124,000 7 7,457 96,584 3,373 3 UTILITY SHARE - MEDICAL/DENT 56,108 644,625 675,349 858,481 (5) 60,594 658,575 (13,950) (2) UTILITY SHARE - PERA 22,677 215,368 216,000 288,000 0 24,829 208,284 7,083 3 UTILITY SHARE - FICA 22,108 210,834 209,999 280,000 0 23,718 201,629 9,204 5 EMPLOYEE SICK PAY 6,623 114,758 112,500 150,000 2 13,036 113,035 1,723 2 EMPLOYEE HOLIDAY PAY 13,788 98,049 85,909 157,500 14 14,494 67,014 31,035 46 EMPLOYEE VACATION & PTO PA 31,242 219,258 193,000 250,000 14 27,951 200,102 19,155 10 UPMIC DISTRIBUTION 23,701 60,163 68,261 91,015 (12) 27,213 49,029 11,134 23 LONGEVITY PAY 0 12,868 12,449 16,369 3 0 2,790 10,078 361 CONSULTING FEES (682) 2,732 60,000 80,000 (95) 0 54,690 (51,957) (95) TELEPHONE 2,974 27,839 30,750 41,000 (9) 2,846 26,829 1,009 4 ADVERTISING 1,848 10,914 11,250 15,000 (3) 768 10,830 83 1 DUES & SUBSCRIPTIONS - FEES 12,038 90,676 129,506 172,675 (30) 13,614 93,477 (2,800) (3) SCHOOLS & MEETINGS 16,481 169,084 200,500 259,925 (16) 20,791 142,114 26,969 19 MTCE OF GENERAL PLANT & OFFI 1,002 9,024 5,699 7,600 58 609 5,485 3,539 65 Total For Administrative Expense: 303,659 2,884,165 3,106,940 4,128,585 (7) 335,799 2,775,850 108,314 4 General Expense CIP REBATES - RESIDENTIAL 6,965 45,656 75,127 100,170 (39) 3,795 39,757 5,899 15 CIP REBATES - COMMERCIAL 11,420 54,432 142,187 189,583 (62) 13,424 92,607 (38,175) (41) CIP - ADMINISTRATION 487 11,024 14,775 19,700 (25) 424 7,140 3,883 54 CIP - MARKETING 7,118 33,920 22,529 30,039 51 1,355 22,741 11,178 49 CIP - LABOR 10,942 105,279 133,883 178,511 (21) 14,095 113,162 (7,883) (7) 71 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING SEPTEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric SEPTEMBER YTD BUDGET BUDGET Bud Var% SEPTEMBER YTD VARIANCE Actual Var% CIP REBATES - LOW INCOME 1,244 13,124 13,500 18,000 (3) 0 4,185 8,939 214 CIP - LOW INCOME LABOR 636 7,179 7,415 9,887 (3) 817 7,742 (562) (7) ENVIRONMENTAL COMPLIANCE 2,713 15,954 25,664 34,219 (38) 2,909 24,009 (8,055) (34) MISC GENERAL EXPENSE 163 6,208 1,874 2,500 231 (73) 75 6,133 8,177 Total For General Expense: 41,692 292,779 436,956 582,609 (33) 36,748 311,421 (18,641) (6) Total Expenses(before Operating Transfers) 3,781,084 33,088,559 34,297,910 44,285,462 (4) 4,062,559 33,287,270 (198,710) (1) Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R 167,632 1,254,080 1,268,430 1,681,653 (1) 164,440 1,159,519 94,560 8 Total For Operating Transfer/Other Funds: 167,632 1,254,080 1,268,430 1,681,653 (1) 164,440 1,159,519 94,560 8 Utilities & Labor Donated UTILITIES & LABOR DONATED TO 18,645 196,440 180,000 240,000 9 18,940 170,738 25,702 15 Total For Utilities & Labor Donated: 18,645 196,440 180,000 240,000 9 18,940 170,738 25,702 15 Total Operating Transfer Total For Total Operating Transfer: 186,278 1,450,521 1,448,430 1,921,653 0 183,381 1,330,258 120,263 9 Net Income Profit(Loss) 906,515 718,732 220,584 1,465,028 226 861,859 602 412,280 (143,127) 72