5.3c ERMUSR 02-13-2024ELK RIVER MUNICIPAL UTILITIES SUMMARY OF YEAR 2023
BUDGET vs ACTUAL (UNAUDITED)
ELECTRIC BUDGET SUMMARY
2023 Budget
ELECTRIC REVENUE
$ 47,672,143
ELECTRIC EXPENDITURES
(46,207,115)
ELECTRIC NET FOR CAPITAL
1,465,028 3.07%
DEBT RETIREMENT
(915,000)
NET LESS DEBT PRINCIPAL PMTS
550,028
CAPITAL EQUIPMENT/CONSTRUCTION
(8,213,440)
FUND FROM RESERVES
250,000
FUND FROM RESERVES
500,000
FUND FROM RESERVES
1,224,190
BONDING or INTER -FUND BORROWING
2,500,000
BONDING
-
NET
(3,189,222)
DEPRECIATION
3,220,836
NET TO RESERVES
$ 31,614
WATER BUDGET SUMMARY
2023 Budget
WATER REVENUE
$ 3,461,948
WATER EXPENDITURES
(3,409,581)
WATER NET FOR CAPITAL
52,367 1.51%
DEBT RETIREMENT
(60,000)
NET LESS DEBT PRINCIPAL PMTS
(7,633)
CAPITAL EQUIPMENT/CONSTRUCTION
(3,139,750)
FUND FROM RESERVES
1,198,000
FUND FROM DEVELOPER CONTRIBUTIONS
1,250,000
BONDING
-
NET
(699,383)
DEPRECIATION
1,202,937
NET TO RESERVES
$ 503,554
* Currently, target reserves are met.
Hwy 169 Redefine
Otsego Transformer Replacement
Area 1&2, 3&4 5&6 Loss of Revenue
AMI
Reserves from Field Services Building
AMI
Water Main Construction
Reserves from Field Services Building
2023 Actual
$ 46,099,348
(44,272,588)
1,826,760 3.96%
(915,000)
911,760
(5,880,408)
26,992
25,778
940,467
244,918
1,012,973
(2,962,437)
3,177,100
$ 214,663
$ 3,801,970
(3,208,891)
593,079 15.60%
(60,000)
533,079
(1,194,974)
376,041
19,199
144,710
(121,944)
1,172, 659
$ 1,050,715
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