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5.1g ERMU 12-12-2023
ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 Electric OCTOBER YTD BUDGET BUDGET Bud Var% OCTOBER Revenue Operating Revenue Elk River ELECT SALES - ELK RIVER RESID ELECT SALES - ELK RIVER NON-D ELECT SALES - ELK RIVER DEMA PCA SALES REVENUE - ELK RIVE PCA SALES REVENUE - ELK RIVE PCA SALES REVENUE - ELK RIVE Total For Elk River: Otsego ELECT SALES - OTSEGO RESIDEN ELECT SALES - OTSEGO NON-DEM ELECT SALES - OTSEGO DEMAND PCA SALES REVENUE - OTSEGO R PCA SALES REVENUE - OTSEGO N PCA SALES REVENUE - OTSEGO D Total For Otsego: Rural Big Lake ELECT SALES - BIG LAKE RESIDE ELECT SALES - BIG LAKE NON -DE PCA SALES REVENUE - BIG LAKE PCA SALES REVENUE - BIG LAKE Total For Rural Big Lake: Dayton ELECT SALES - DAYTON RESIDEN ELECT SALES - DAYTON NON -DE PCA SALES REVENUE - DAYTON R PCA SALES REVENUE - DAYTON Total For Dayton: Public St & Hwy Lighting ELECT SALES - SEC LTS Total For Public St & Hwy Lighting: Other Electric Sales SUB -STATION CREDIT RATE INCREASE 2022 YTD 2022 v. 2023 YTD VARIANCE Actual Var% 1,062,635 11,742,314 11,812,478 14,039,146 (1) 1,065,230 11,568,603 173,710 2 299,843 3,005,488 2,906,467 3,461,850 3 296,241 2,788,705 216,783 8 1,756,246 16,078,271 16,920,596 20,243,229 (5) 1,842,798 16,969,972 (891,700) (5) 90,104 942,243 1,093,491 1,285,399 (14) 0 0 942,243 0 26,472 255,303 287,884 340,814 (11) 0 0 255,303 0 203,697 1,795,709 2,269,268 2,670,887 (21) 0 0 1,795,709 0 3,438,999 33,819,330 35,290,186 42,041,326 (4) 3,204,270 31,327,280 2,492,050 8 116,069 1,303,832 1,196,888 1,420,072 9 119,097 1,229,816 74,016 6 43,403 423,383 387,450 454,649 9 45,689 420,854 2,529 1 129,572 1,205,019 988,148 1,180,452 22 123,701 1,170,844 34,175 3 9,670 102,950 110,453 129,685 (7) 0 0 102,950 0 3,925 36,753 37,863 44,260 (3) 0 0 36,753 0 14,572 133,320 131,098 156,538 2 0 0 133,320 0 317,214 3,205,260 2,851,903 3,385,657 12 288,488 2,821,515 383,745 14 13,961 166,887 179,309 214,102 (7) 15,290 166,558 328 0 406 4,398 4,144 4,513 6 501 4,298 99 2 1,191 13,394 16,651 19,622 (20) 0 0 13,394 0 31 324 385 420 (16) 0 0 324 0 15,589 185,004 200,490 238,658 (8) 15,791 170,857 14,147 8 14,970 179,572 187,251 221,646 (4) 15,840 177,140 2,432 1 3,220 33,853 33,631 39,638 1 3,292 33,717 135 0 1,242 14,086 17,359 20,286 (19) 0 0 14,086 0 254 2,627 3,328 3,900 (21) 0 0 2,627 0 19,687 230,140 241,571 285,471 (5) 19,133 210,857 19,282 9 21,618 215,819 216,666 260,000 0 21,671 215,256 563 0 21,618 215,819 216,666 260,000 0 21,671 215,256 563 0 400 4,000 4,000 4,800 0 400 4,000 0 0 0 0 87 0 0 0 (111,714) 1,307,928 (1,307,928) (100) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric OCTOBER YTD BUDGET BUDGET Bud Var%o OCTOBER YTD VARIANCE Actual Var% Total For Other Electric Sales: 400 4,000 4,000 4,800 0 (111,314) 1,311,928 (1,307,928) (100) Total Operating Revenue 3,813,509 37,659,555 38,804,818 46,215,912 (3) 3,438,039 36,057,695 1,601,859 4 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME 16,040 87,175 41,666 50,000 109 (15,570) (196,710) 283,886 144 Total For Interest/Dividend Income: 16,040 87,175 41,666 50,000 109 (15,570) (196,710) 283,886 144 Customer Penalties CUSTOMER DELINQUENT PENALT 24,786 259,594 208,333 250,000 25 24,792 237,775 21,819 9 Total For Customer Penalties: 24,786 259,594 208,333 250,000 25 24,792 237,775 21,819 9 LFG Project LFG PROJECT 0 0 0 0 0 89,470 849,853 (849,853) (100) Total For LFG Project: 0 0 0 0 0 89,470 849,853 (849,853) (100) Connection Fees DISCONNECT & RECONNECT CHA 16,375 116,731 183,333 220,000 (36) 25,467 178,462 (61,731) (35) Total For Connection Fees: 16,375 116,731 183,333 220,000 (36) 25,467 178,462 (61,731) (35) Misc Revenue MISC ELEC REVENUE - TEMP CHG 0 5,774 1,666 2,000 246 590 4,970 804 16 STREET LIGHT 0 1,800 15,000 20,000 (88) 0 6,425 (4,625) (72) TRANSMISSION INVESTMENTS 56,166 589,062 541,025 649,231 9 48,025 521,634 67,428 13 MISC NON -UTILITY 18,720 130,267 75,000 90,000 74 54,759 174,463 (44,195) (25) GAIN ON DISPOSITION OF PROPER 0 40,310 0 0 0 45,000 78,538 (38,228) (49) CONTRIBUTIONS FROM CUSTOME 33,220 346,360 145,833 175,000 138 8,098 279,967 66,393 24 Total For Misc Revenue: 108,107 1,113,575 778,525 936,231 43 156,473 1,065,998 47,577 4 Total Other Revenue 165,310 1,577,077 1,211,859 1,456,231 30 280,633 2,135,379 (558,301) (26) Total For Total Other Revenue: 165,310 1,577,077 1,211,859 1,456,231 30 280,633 2,135,379 (558,301) (26) Total Revenue 40,016,678 3,978,819 3 39,236,633 47,672,143 (2) 3,718,673 38,193,075 1,043,558 Expenses Purchased Power PURCHASED POWER 1,746,283 20,263,323 20,886,794 24,207,981 (3) 2,212,210 27,087,318 (6,823,995) (25) ENERGY ADJUSTMENT CLAUSE 646,478 6,773,883 7,238,285 8,558,044 (6) 0 0 6,773,883 0 Total For Purchased Power: 2,392,761 27,037,206 28,125,080 32,766,025 (4) 2,212,210 27,087,318 (50,111) 0 Operating & Mtce Expense 88 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric OCTOBER YTD BUDGET BUDGET Bud Var%o OCTOBER YTD VARIANCE Actual Var% OPERATING SUPERVISION 11,229 101,115 114,166 137,000 (11) 13,468 110,340 (9,225) (8) DIESEL OIL FUEL 0 3,854 8,333 10,000 (54) 45 1,885 1,969 104 NATURAL GAS 821 22,665 16,200 25,000 40 903 13,361 9,304 70 ELECTRIC & WATER CONSUMPTI 4,817 52,702 27,200 34,000 94 1,895 26,110 26,591 102 PLANT SUPPLIES & OTHER EXPEN 568 26,526 10,833 13,000 145 3,143 8,486 18,039 213 MISC POWER GENERATION EXPE 50 3,767 6,666 8,000 (43) 171 3,779 (11) 0 MAINTENANCE OF STRUCTURE - 823 16,483 16,666 20,000 (1) 552 11,581 4,901 42 MTCE OF PLANT ENGINES/GENER 541 16,818 32,500 39,000 (48) 529 10,773 6,045 56 MTCE OF PLANT/LAND IMPROVE 471 24,881 22,000 35,000 13 197 14,152 10,729 76 Total For Operating & Mtce Expense: 19,322 268,814 254,566 321,000 6 20,908 200,469 68,344 34 Landfill Gas LANDFILL GAS PLANT PURCHASE 0 0 0 0 0 13,584 136,879 (136,879) (100) LANDFILL GAS PLANT OPERATIO 0 0 0 0 0 41,518 395,634 (395,634) (100) LANDFILL GAS PLANT ADMINIST 0 0 0 0 0 169 2,431 (2,431) (100) LANDFILL GAS PLANT INSURANC 0 0 0 0 0 1,948 17,535 (17,535) (100) LANDFILL GAS PLANT MTCE 0 0 0 0 0 160 1,295 (1,295) (100) Total For Landfill Gas: 0 0 0 0 0 57,380 553,776 (553,776) (100) Transmission Expense TRANSMISSION MTCE AND EXPE 5,425 54,856 58,333 70,000 (6) 4,533 54,030 826 2 Total For Transmission Expense: 5,425 54,856 58,333 70,000 (6) 4,533 54,030 826 2 Distribution Expense REMOVE EXISTING SERVICE & M 0 542 875 1,050 (38) 0 194 347 178 SCADA EXPENSE 3,924 43,656 36,666 44,000 19 2,701 34,722 8,933 26 TRANSFORMER EXPENSE OH & U 2,215 15,789 12,500 15,000 26 1,639 10,672 5,117 48 MTCE OF SIGNAL SYSTEMS 171 2,667 1,666 2,000 60 0 1,815 851 47 METER EXPENSE - REMOVE & RE 111 1,461 1,250 1,500 17 0 582 879 151 TEMP SERVICE - INSTALL & REM 652 6,391 2,916 3,500 119 101 3,298 3,093 94 MISC DISTRIBUTION EXPENSE 24,061 297,291 250,000 300,000 19 25,181 249,673 47,618 19 INTERCONNECTION CARRYING C 0 0 0 2,416 0 0 0 0 0 Total For Distribution Expense: 31,136 367,800 305,875 369,466 20 29,623 300,959 66,841 22 Maintenance Expense MTCE OF STRUCTURES 5,250 53,977 38,333 46,000 41 2,206 21,950 32,027 146 MTCE OF SUBSTATIONS 4,347 39,529 29,166 35,000 36 3,941 38,362 1,166 3 MTCE OF SUBSTATION EQUIPME 9,418 52,679 64,166 77,000 (18) 6,349 38,254 14,425 38 MTCE OF OH LINES/TREE TRIM 1,277 179,799 181,000 225,000 (1) 1,332 113,381 66,417 59 89 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric OCTOBER YTD BUDGET BUDGET Bud Var%o OCTOBER YTD VARIANCE Actual Var%o MTCE OF OH LINES/STANDBY 3,948 30,358 33,333 40,000 (9) 2,935 28,529 1,828 6 MTCE OF OH PRIMARY 12,721 134,039 141,666 170,000 (5) 18,927 165,194 (31,155) (19) MTCE OF URD PRIMARY 16,025 189,873 141,666 170,000 34 14,112 173,214 16,659 10 LOCATE ELECTRIC LINES 12,450 88,445 88,333 106,000 0 9,209 85,306 3,139 4 LOCATE FIBER LINES 101 371 833 1,000 (55) 163 782 (411) (53) MTCE OF LINE TRANSFORMERS 2,302 71,448 50,000 60,000 43 13,016 36,897 34,551 94 MTCE OF STREET LIGHTING 8,134 36,667 37,500 45,000 (2) 3,113 41,059 (4,391) (11) MTCE OF SECURITY LIGHTING 723 15,380 12,500 15,000 23 6,250 20,075 (4,695) (23) MTCE OF METERS 5,283 58,254 70,833 85,000 (18) 6,088 68,115 (9,860) (14) VOLTAGE COMPLAINTS 107 9,812 8,333 10,000 18 906 6,443 3,369 52 SALARIES TRANSMISSION & DIST 2,659 23,580 25,416 30,500 (7) 2,481 23,514 66 0 ELECTRIC MAPPING 5,296 98,357 79,166 95,000 24 5,465 73,004 25,352 35 MTCE OF OH SECONDARY 1,901 21,223 20,833 25,000 2 1,711 17,797 3,426 19 MTCE OF URD SECONDARY 7,132 52,598 50,000 60,000 5 4,590 53,446 (848) (2) TRANSPORTATION EXPENSE 19,181 232,171 204,166 245,000 14 16,837 232,981 (809) 0 Total For Maintenance Expense: 118,263 1,388,569 1,277,250 1,540,500 9 119,639 1,238,312 150,256 12 Depreciation & Amortization DEPRECIATION 209,116 2,080,185 2,113,510 2,552,700 (2) 230,479 1,977,973 102,211 5 AMORTIZATION 55,677 556,779 556,780 668,136 0 55,677 556,779 0 0 Total For Depreciation & Amortization: 264,794 2,636,964 2,670,290 3,220,836 (1) 286,157 2,534,753 102,211 4 Interest Expense INTEREST EXPENSE - BONDS 71,400 727,892 727,892 870,695 0 74,413 758,248 (30,356) (4) AMORTIZATION OF DEBT DISCOU (4,988) (49,885) (49,885) (59,863) 0 (4,988) (50,788) 903 2 Total For Interest Expense: 66,412 678,007 678,007 810,832 0 69,424 707,459 (29,452) (4) Other Operating Expense EV CHARGING EXPENSE 198 1,749 6,442 7,731 (73) 505 5,634 (3,884) (69) LOSS ON DISPOSITION OF PROP (C 0 13,073 15,500 15,500 (16) 0 0 13,073 0 OTHER DONATIONS 0 108 2,500 3,000 (96) 198 3,681 (3,573) (97) DAM MAINTENANCE EXPENSE 0 0 0 0 0 29 29 (29) (100) MUTUAL AID 0 4,415 0 0 0 17,062 36,690 (32,274) (88) PENSION EXPENSE 0 0 0 45,000 0 0 0 0 0 OTHER INTEREST EXPENSE 0 378 378 378 0 378 4,132 (3,754) (91) INTEREST EXPENSE - METER DEP 4,048 39,725 2,083 2,500 1,807 168 1,658 38,066 2,295 Total For Other Operating Expense: 4,247 59,451 26,903 74,109 121 18,342 51,826 7,624 15 Customer Accounts Expense 90 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric OCTOBER YTD BUDGET BUDGET Bud Var%o OCTOBER YTD VARIANCE Actual Var% METER READING EXPENSE 4,348 35,715 39,166 47,000 (9) 4,157 40,587 (4,871) (12) DISCONNECT/RECONNECT EXPEN 1,051 18,678 18,333 22,000 2 158 20,056 (1,378) (7) MISC CUSTOMER ACCOUNTS EXP 33,708 282,842 260,416 312,500 9 27,742 253,223 29,619 12 BAD DEBT EXPENSE & RECOVER 2,698 26,877 16,666 20,000 61 5,424 12,927 13,950 108 Total For Customer Accounts Expense: 41,806 364,114 334,583 401,500 9 37,483 326,795 37,318 11 Administrative Expense SALARIES OFFICE & COMMISSION 69,567 665,070 791,666 950,000 (16) 71,854 670,144 (5,074) (1) TEMPORARY STAFFING 0 0 3,333 4,000 (100) 0 0 0 0 OFFICE SUPPLIES 7,431 99,441 89,166 107,000 12 5,402 58,496 40,945 70 ELECTRIC & WATER CONSUMPTI 2,347 25,018 24,166 29,000 4 1,946 21,771 3,246 15 BANK FEES 140 1,487 2,083 2,500 (29) 141 1,580 (93) (6) LEGAL FEES 1,077 17,450 33,333 40,000 (48) 4,337 28,679 (11,228) (39) AUDITING FEES 1,623 17,193 15,433 18,520 11 1,503 15,033 2,160 14 INSURANCE 16,027 170,562 155,000 186,000 10 14,425 149,283 21,279 14 UTILITY SHARE - DEFERRED COM 5,048 105,006 103,333 124,000 2 5,000 101,584 3,421 3 UTILITY SHARE - MEDICAUDENT 57,233 701,858 736,393 858,481 (5) 67,108 725,684 (23,825) (3) UTILITY SHARE - PERA 23,839 239,207 240,000 288,000 0 23,906 232,191 7,016 3 UTILITY SHARE - FICA 23,475 234,309 233,333 280,000 0 23,544 225,173 9,135 4 EMPLOYEE SICK PAY 16,026 130,784 125,000 150,000 5 11,869 124,904 5,880 5 EMPLOYEE HOLIDAY PAY 0 98,049 85,909 157,500 14 0 67,014 31,035 46 EMPLOYEE VACATION & PTO PA 18,700 237,958 212,000 250,000 12 18,350 218,452 19,505 9 UPMIC DISTRIBUTION 0 60,163 68,261 91,015 (12) 0 49,029 11,134 23 LONGEVITY PAY 2,300 15,168 14,069 16,369 8 0 2,790 12,378 444 CONSULTING FEES 0 2,732 66,666 80,000 (96) 0 54,690 (51,957) (95) TELEPHONE 2,986 30,825 34,166 41,000 (10) 3,986 30,815 9 0 ADVERTISING 1,675 12,589 12,500 15,000 1 456 11,286 1,303 12 DUES & SUBSCRIPTIONS - FEES 7,116 97,792 143,895 172,675 (32) 4,426 97,903 (110) 0 SCHOOLS & MEETINGS 22,974 192,058 222,500 259,925 (14) 19,579 161,693 30,364 19 MTCE OF GENERAL PLANT & OFFI 1,002 10,027 6,333 7,600 58 609 6,094 3,932 65 Total For Administrative Expense: 280,593 3,164,759 3,418,545 4,128,585 (7) 278,448 3,054,299 110,460 4 General Expense CIP REBATES - RESIDENTIAL 4,760 50,416 83,475 100,170 (40) 8,609 48,366 2,050 4 CIP REBATES - COMMERCIAL 0 54,432 157,985 189,583 (66) 14,968 107,575 (53,143) (49) CIP - ADMINISTRATION 386 11,411 16,416 19,700 (30) 424 7,565 3,845 51 CIP - MARKETING 2,691 36,611 25,032 30,039 46 3,533 26,275 10,336 39 91 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING OCTOBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric OCTOBER YTD BUDGET BUDGET Bud Var%o OCTOBER YTD VARIANCE Actual Var% CIP - LABOR 12,407 117,686 148,759 178,511 (21) 13,939 127,102 (9,416) (7) CIP REBATES - LOW INCOME 0 13,124 15,000 18,000 (12) 0 4,185 8,939 214 CIP - LOW INCOME LABOR 837 8,017 8,239 9,887 (3) 944 8,686 (669) (8) ENVIRONMENTAL COMPLIANCE 2,504 18,458 28,515 34,219 (35) 2,621 26,630 (8,172) (31) MISC GENERAL EXPENSE (14) 6,194 2,083 2,500 197 (1,282) (1,206) 7,401 613 Total For General Expense: 23,572 316,351 485,507 582,609 (35) 43,757 355,179 (38,827) (11) Total Expenses(before Operating Transfers) 3,248,336 36,336,896 37,634,942 44,285,462 (3) 3,177,909 36,465,180 (128,284) 0 Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R 138,256 1,392,337 1,411,607 1,681,653 (1) 128,871 1,288,391 103,945 8 Total For Operating Transfer/Other Funds: 138,256 1,392,337 1,411,607 1,681,653 (1) 128,871 1,288,391 103,945 8 Utilities & Labor Donated UTILITIES & LABOR DONATED TO 19,301 215,741 200,000 240,000 8 20,517 191,255 24,486 13 Total For Utilities & Labor Donated: 19,301 215,741 200,000 240,000 8 20,517 191,255 24,486 13 Total Operating Transfer Total For Total Operating Transfer: 157,557 1,608,079 1,611,607 1,921,653 0 149,389 1,479,647 128,432 9 Net Income Profit(Loss) 572,925 1,291,657 770,127 1,465,028 68 1,043,410 420 391,374 248,247 92