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5.1g ERMUSR 02-13-2024
ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER 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 ELECTSALES- OTSEGO NON-DEM ELECTSALES - 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 ELECTSALES - 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% 925,842 13,774,416 14,039,146 14,039,146 (2) 1,272,307 13,749,299 25,117 0 234,339 3,545,392 3,461,850 3,461,850 2 297,759 3,321,584 223,807 7 1,273,278 18,843,492 20,243,229 20,243,229 (7) 1,601,543 20,302,300 (1,458,807) (7) 0 1,040,554 1,285,399 1,285,399 (19) 0 0 1,040,554 0 0 283,171 340,814 340,814 (17) 0 0 283,171 0 0 1,998,310 2,670,887 2,670,887 (25) 0 0 1,998,310 0 2,433,461 39,485,337 42,041,326 42,041,326 (6) 3,171,609 37,373,184 2,112,153 6 94,436 1,520,947 1,420,072 1,420,072 7 132,630 1,459,139 61,807 4 24,282 497,057 454,649 454,649 9 39,784 493,846 3,210 1 102,255 1,428,814 1,180,452 1,180,452 21 130,219 1,398,702 30,112 2 0 113,642 129,685 129,685 (12) 0 0 113,642 0 0 41,419 44,260 44,260 (6) 0 0 41,419 0 0 150,238 156,538 156,538 (4) 0 0 150,238 0 220,974 3,752,121 3,385,657 3,385,657 11 302,634 3,351,688 400,432 12 12,930 196,033 214,102 214,102 (8) 18,919 198,877 (2,844) (1) 137 4,789 4,513 4,513 6 186 4,681 108 2 0 14,868 19,622 19,622 (24) 0 0 14,868 0 0 340 420 420 (19) 0 0 340 0 13,068 216,031 238,658 238,658 (9) 19,105 203,558 12,473 6 12,485 208,525 221,646 221,646 (6) 19,058 209,677 (1,151) (1) 2,556 40,282 39,638 39,638 2 3,328 39,738 543 1 0 15,521 20,286 20,286 (23) 0 0 15,521 0 0 2,958 3,900 3,900 (24) 0 0 2,958 0 15,041 267,288 285,471 285,471 (6) 22,386 249,416 17,871 7 21,673 259,191 260,000 260,000 0 21,728 258,671 520 0 21,673 259,191 260,000 260,000 0 21,728 258,671 520 0 400 4,800 4,800 4,800 0 400 4,800 0 0 0 0 103 0 0 0 (225,719) 895,668 (895,668) (100) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Total For Other Electric Sales: 400 4,800 4,800 4,800 0 (225,319) 900,468 (895,668) (99) Total Operating Revenue 2,704,619 43,984,770 46,215,912 46,215,912 (5) 3,312,145 42,336,987 1,647,783 4 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME 46,659 158,309 50,000 50,000 217 33,153 (159,502) 317,812 199 Total For Interest/Dividend Income: 46,659 158,309 50,000 50,000 217 33,153 (159,502) 317,812 199 Customer Penalties CUSTOMER DELINQUENT PENALT 19,454 308,374 250,000 250,000 23 17,992 284,452 23,922 8 Total For Customer Penalties: 19,454 308,374 250,000 250,000 23 17,992 284,452 23,922 8 LFG Project LFG PROJECT 0 0 0 0 0 0 935,004 (935,004) (100) Total For LFG Project: 0 0 0 0 0 0 935,004 (935,004) (100) Connection Fees DISCONNECT & RECONNECT CHA 11,135 151,296 220,000 220,000 (31) 38,575 243,087 (91,791) (38) Total For Connection Fees: 11,135 151,296 220,000 220,000 (31) 38,575 243,087 (91,791) (38) Misc Revenue MISC ELEC REVENUE - TEMP CHG 0 5,994 2,000 2,000 200 660 5,630 364 6 STREET LIGHT 0 6,300 20,000 20,000 (68) 10,800 23,525 (17,225) (73) TRANSMISSION INVESTMENTS 100,323 739,768 649,231 649,231 14 93,882 697,070 42,698 6 MISC NON -UTILITY 19,271 182,451 90,000 90,000 103 6,632 187,014 (4,562) (2) GAIN ON DISPOSITION OF PROPER 21,620 72,630 0 0 0 0 78,538 (5,908) (8) PERA PENSION REVENUE 0 0 0 0 0 16,608 16,608 (16,608) (100) CONTRIBUTIONS FROM CUSTOME 91,488 489,451 175,000 175,000 180 2,319 298,934 190,517 64 Total For Misc Revenue: 232,703 1,496,597 936,231 936,231 60 130,901 1,307,320 189,277 14 Total Other Revenue 309,951 2,114,577 1,456,231 1,456,231 45 220,621 2,610,362 (495,784) (19) Total For Total Other Revenue: 309,951 2,114,577 1,456,231 1,456,231 45 220,621 2,610,362 (495,784) (19) Total Revenue 3,014,570 46,099,348 47,672,143 47,672,143 (3) 3,532,767 44,947,349 1,151,998 3 Expenses Purchased Power PURCHASED POWER 1,611,485 23,416,660 24,207,981 24,207,981 (3) 2,325,351 31,544,604 (8,127,943) (26) ENERGY ADJUSTMENT CLAUSE 531,182 7,816,127 8,558,044 8,558,044 (9) 0 0 7,816,127 0 Total For Purchased Power: 2,142,668 31,232,788 32,766,025 32,766,025 (5) 2,325,351 31,544,604 (311,816) (1) 104 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Operating &Mice Expense OPERATING SUPERVISION 9,133 120,165 137,000 137,000 (12) 13,805 138,044 (17,878) (13) DIESEL OIL FUEL 60 3,915 10,000 10,000 (61) 729 2,980 935 31 NATURAL GAS 3,322 28,240 25,000 25,000 13 4,807 20,631 7,608 37 ELECTRIC & WATER CONSUMPTI 5,439 62,628 34,000 34,000 84 3,376 32,884 29,744 90 PLANT SUPPLIES & OTHER EXPEN 953 27,882 13,000 13,000 114 938 13,912 13,970 100 MISC POWER GENERATION EXPE 141 3,909 8,000 8,000 (51) 911 5,079 (1,170) (23) MAINTENANCE OF STRUCTURE - 1,608 19,304 20,000 20,000 (3) 1,908 20,294 (989) (5) MTCE OF PLANT ENGINES/GENER 2,348 19,571 39,000 39,000 (50) 514 11,756 7,815 66 MTCE OF PLANT/LAND IMPROVE 4,432 29,436 35,000 35,000 (16) 9,061 28,086 1,350 5 Total For Operating & Mtce Expense: 27,441 315,055 321,000 321,000 (2) 36,053 273,670 41,385 15 Landfill Gas LANDFILL GAS PLANT PURCHASE 0 0 0 0 0 0 136,879 (136,879) (100) LANDFILL GAS PLANT OPERATIO 0 0 0 0 0 (57,809) 337,825 (337,825) (100) LANDFILL GAS PLANT ADMINIST 0 0 0 0 0 18,798 25,847 (25,847) (100) LANDFILL GAS PLANT INSURANC 0 0 0 0 0 (33) 17,501 (17,501) (100) LANDFILL GAS PLANT MTCE 0 0 0 0 0 140 1,576 (1,576) (100) Total For Landfill Gas: 0 0 0 0 0 (38,904) 519,630 (519,630) (100) Transmission Expense TRANSMISSION MTCE AND EXPE 4,445 63,810 70,000 70,000 (9) 5,148 63,952 (142) 0 Total For Transmission Expense: 4,445 63,810 70,000 70,000 (9) 5,148 63,952 (142) 0 Distribution Expense REMOVE EXISTING SERVICE & M 217 759 1,050 1,050 (28) 104 599 160 27 SCADA EXPENSE 4,997 53,498 44,000 44,000 22 5,062 42,498 11,000 26 TRANSFORMER EXPENSE OH & U 1,749 19,018 15,000 15,000 27 1,567 13,243 5,775 44 MTCE OF SIGNAL SYSTEMS 0 2,667 2,000 2,000 33 57 1,872 794 42 METER EXPENSE - REMOVE & RE 149 1,610 1,500 1,500 7 0 582 1,028 177 TEMP SERVICE - INSTALL & REM 0 9,206 3,500 3,500 163 419 3,718 5,488 148 MISC DISTRI13UTION EXPENSE 21,603 345,140 300,000 300,000 15 28,762 321,667 23,472 7 INTERCONNECTION CARRYING C 2,416 2,416 2,416 2,416 0 2,416 2,416 0 0 Total For Distribution Expense: 31,133 434,318 369,466 369,466 18 38,389 386,598 47,720 12 Maintenance Expense MTCE OF STRUCTURES 10,904 70,799 46,000 46,000 54 5,334 30,934 39,865 129 MTCE OF SUBSTATIONS 850 40,623 35,000 35,000 16 3,844 60,276 (19,652) (33) MTCE OF SUBSTATION EQUIPME 9,448 79,615 77,000 77,000 3 942 42,073 37,541 89 105 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% MTCE OF OH LINES/TREE TRIM 31,565 225,909 225,000 225,000 0 28,060 145,876 80,032 55 MTCE OF OH LINES/STANDBY 3,179 36,654 40,000 40,000 (8) 2,940 33,623 3,031 9 MTCE OF OH PRIMARY 10,253 152,226 170,000 170,000 (10) 14,732 190,502 (38,275) (20) MTCE OFURDPRIMARY 5,199 214,304 170,000 170,000 26 9,816 201,178 13,126 7 LOCATE ELECTRIC LINES 5,382 105,451 106,000 106,000 (1) 3,354 95,624 9,826 10 LOCATE FIBER LINES 202 624 1,000 1,000 (38) 65 880 (256) (29) MTCE OF LINE TRANSFORMERS 11,156 83,650 60,000 60,000 39 5,383 43,183 40,467 94 MTCE OF STREET LIGHTING 5,750 48,781 45,000 45,000 8 14,633 66,957 (18,176) (27) MTCE OF SECURITY LIGHTING 1,795 18,471 15,000 15,000 23 280 21,799 (3,327) (15) MTCE OF METERS 6,965 69,871 85,000 85,000 (18) 5,242 77,069 (7,198) (9) VOLTAGE COMPLAINTS 317 10,389 10,000 10,000 4 1,763 9,130 1,258 14 SALARIES TRANSMISSION&DIST 2,162 28,029 30,500 30,500 (8) 2,388 28,316 (287) (1) ELECTRIC MAPPING 9,473 111,093 95,000 95,000 17 17,704 97,145 13,948 14 MTCE OF OH SECONDARY 2,576 26,387 25,000 25,000 6 1,603 21,753 4,634 21 MTCE OF URD SECONDARY 10,629 68,402 60,000 60,000 14 2,229 57,283 11,119 19 TRANSPORTATION EXPENSE 35,598 288,024 245,000 245,000 18 30,844 288,624 (599) 0 Total For Maintenance Expense: 163,412 1,679,312 1,540,500 1,540,500 9 151,166 1,512,235 167,077 11 Depreciation & Amortization DEPRECIATION 219,439 2,508,964 2,552,700 2,552,700 (2) 239,332 2,394,615 114,348 5 AMORTIZATION 55,677 668,135 668,136 668,136 0 55,677 668,135 0 0 Total For Depreciation & Amortization: 275,117 3,177,100 3,220,836 3,220,836 (1) 295,010 3,062,751 114,348 4 Interest Expense INTEREST EXPENSE -BONDS 71,400 870,693 870,695 870,695 0 74,413 907,074 (36,381) (4) AMORTIZATION OF DEBT DISCOU (4,988) (59,862) (59,863) (59,863) 0 (4,988) (60,765) 903 1 Total For Interest Expense: 66,412 810,831 810,832 810,832 0 69,424 846,308 (35,477) (4) Other Operating Expense EV CHARGING EXPENSE 200 2,173 7,731 7,731 (72) 411 6,552 (4,379) (67) LOSS ON DISPOSITION OF PROP (C 0 13,073 15,500 15,500 (16) 36,600 36,600 (23,526) (64) OTHER DONATIONS 0 108 3,000 3,000 (96) 209 3,891 (3,783) (97) DAM MAINTENANCE EXPENSE 0 0 0 0 0 0 29 (29) (100) MUTUAL AID 0 4,415 0 0 0 3,717 40,408 (35,992) (89) PENSION EXPENSE 0 0 45,000 45,000 (100) 306,643 306,643 (306,643) (100) OTHER INTEREST EXPENSE 0 378 378 378 0 378 4,888 (4,510) (92) INTEREST EXPENSE - METER DEP 4,102 47,921 2,500 2,500 1,817 168 1,995 45,926 2,302 Total For Other Operating Expense: 4,302 68,070 74,109 74,109 8 348,128 401,008 (332,937) (83) 106 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% Customer Accounts Expense METER READING EXPENSE 3,893 43,805 47,000 47,000 (7) 5,434 49,300 (5,495) (11) DISCONNECURECONNECTEXPEN 977 20,348 22,000 22,000 (8) 1,199 23,150 (2,801) (12) MISC CUSTOMER ACCOUNTS EXP 29,129 340,198 312,500 312,500 9 23,962 305,794 34,404 11 BAD DEBT EXPENSE & RECOVER 703 29,142 20,000 20,000 46 (17) 12,993 16,149 124 Total For Customer Accounts Expense: 34,704 433,494 401,500 401,500 8 30,579 391,238 42,256 11 Administrative Expense SALARIES OFFICE & COMMISSION 57,839 785,848 950,000 950,000 (17) 65,640 805,290 (19,442) (2) TEMPORARY STAFFING 0 0 4,000 4,000 (100) 0 0 0 0 OFFICE SUPPLIES 5,121 112,297 107,000 107,000 5 6,414 71,132 41,164 58 ELECTRIC & WATER CONSUMPTI 2,027 28,882 29,000 29,000 0 10,097 37,423 (8,541) (23) BANK FEES 288 1,886 2,500 2,500 (25) 124 2,002 (115) (6) LEGAL FEES 546 20,028 40,000 40,000 (50) 4,456 29,545 (9,516) (32) AUDITING FEES 1,623 20,439 18,520 18,520 10 1,503 18,039 2,400 13 INSURANCE 15,440 201,330 186,000 186,000 8 5,006 170,663 30,667 18 UTILITY SHARE - DEFERRED COM 5,588 116,375 124,000 124,000 (6) 5,290 112,637 3,737 3 UTILITY SHARE - MEDICAL/DENT 60,569 824,442 858,481 858,481 (4) 17,821 809,783 14,658 2 UTILITY SHARE - PERA 23,607 286,887 288,000 288,000 0 24,566 280,969 5,918 2 UTILITY SHARE - FICA 23,288 280,348 280,000 280,000 0 24,238 272,892 7,455 3 EMPLOYEE SICK PAY 11,881 151,949 150,000 150,000 1 10,930 146,800 5,148 4 EMPLOYEE HOLIDAY PAY 27,845 168,236 157,500 157,500 7 28,538 139,307 28,929 21 EMPLOYEE VACATION & PTO PA 20,364 279,368 250,000 250,000 12 18,820 256,901 22,467 9 UPMICDISTRI13UTION 29,383 89,547 91,015 91,015 (2) 18,323 67,353 22,194 33 LONGEVITY PAY 0 15,168 16,369 16,369 (7) 1,240 4,030 11,138 276 CONSULTING FEES 0 2,732 80,000 80,000 (97) 150 54,841 (52,108) (95) TELEPHONE 2,997 36,810 41,000 41,000 (10) 3,908 38,140 (1,330) (3) ADVERTISING 552 13,765 15,000 15,000 (8) 408 12,246 1,519 12 DUES & SUBSCRIPTIONS - FEES 19,373 124,702 172,675 172,675 (28) 11,874 125,051 (349) 0 SCHOOLS & MEETINGS 10,471 222,742 259,925 259,925 (14) 17,054 193,041 29,701 15 MTCE OF GENERAL PLANT & OFFI 1,002 12,032 7,600 7,600 58 4,978 11,682 350 3 Total For Administrative Expense: 319,812 3,795,825 4,128,585 4,128,585 (8) 281,385 3,659,777 136,048 4 General Expense CIPREBATES- RESIDENTIAL 3,828 60,902 100,170 100,170 (39) 4,545 60,641 261 0 CIP REBATES - COMMERCIAL 16,836 71,268 189,583 189,583 (62) 1,525 109,100 (37,832) (35) CIP - ADMINISTRATION 500 27,286 19,700 19,700 39 424 8,415 18,870 224 107 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING DECEMBER 2023 2023 2023 2023 2023 YTD ANNUAL 2023 YTD 2022 2022 YTD 2022 v. 2023 Electric DECEMBER YTD BUDGET BUDGET Bud Var% DECEMBER YTD VARIANCE Actual Var% CIP - MARKETING (1,218) 36,225 30,039 30,039 21 1,296 29,024 7,201 25 CIP - LABOR 9,773 138,208 178,511 178,511 (23) 13,349 153,297 (15,089) (10) CIP REBATES - LOW INCOME 3,068 16,193 18,000 18,000 (10) 0 4,185 12,008 287 CIP - LOW INCOME LABOR 645 9,391 9,887 9,887 (5) 851 10,399 (1,007) (10) ENVIRONMENTAL COMPLIANCE 2,496 23,454 34,219 34,219 (31) 2,673 31,920 (8,466) (27) MISCGENERAL EXPENSE (1,175) 5,108 2,500 2,500 104 (13) (1,218) 6,326 519 Total For General Expense: 34,754 388,037 582,609 582,609 (33) 24,652 405,766 (17,728) (4) Total Expenses(before Operating Transfers) 3,104,203 42,398,647 44,285,462 44,285,462 (4) 3,566,386 43,067,541 (668,894) (2) Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R Total For Operating Transfer/Other Funds: Utilities & Labor Donated UTILITIES & LABOR DONATED TO Total For Utilities & Labor Donated: Total Operating Transfer Total For Total Operating Transfer: Net Income Profit(Loss) 98,037 1,620,377 1,681,653 1,681,653 (4) 127,567 1,531,632 88,744 6 98,037 1,620,377 1,681,653 1,681,653 (4) 127,567 1,531,632 88,744 6 18,464 253,563 240,000 240,000 6 19,563 231,860 21,702 9 18,464 253,563 240,000 240,000 6 19,563 231,860 21,702 9 116,502 1,873,941 1,921,653 1,921,653 (2) 147,130 1,763,493 110,447 6