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5.1 ERMUSR 03-12-2024��i Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: March 12, 2024 5.1 SUBJECT: Financial Report —January 2024 ACTION REQUESTED: Receive the January 2024 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric January's year to date (YTD) electric kWh sales are down from the prior year, 9%. For further breakdown: • Residential usage is down 10% • Small Commercial usage is down 12% • Large Commercial usage is down 7% For January 2024, the Electric Department overall is ahead of prior YTD but unfavorable to budget YTD. Additional variance analysis can be found on the Summary Electric Statement of Revenues, Expenses and Changes in Net Position attachment. Water January YTD gallons of water sold are down less than 0.5% from the prior year. For further breakdown: • Residential use is down 1% • Commercial use is up 0.2% For January 2024, the Water Department overall is ahead of prior YTD and 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 1.2024 • Electric Balance Sheet 1.2024 • Water Balance Sheet 1.2024 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 1.2024 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 1.2024 • Graphs Prior Year and YTD 2024 Page 1 of 2 156 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 1.2024 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 1.2024 • Budget vs Actual Graphs — Electric 1.2024 • Budget vs Actual Graphs — Water 1.2024 Page 2 of 2 157 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING JANUARY 2024 ASSETS CURRENT ASSETS CASH ACCOUNTS RECEIVABLE INVENTORIES PREPAID ITEMS CONSTRUCTION IN PROGRESS TOTAL CURRENT ASSETS RESTRICTED ASSETS BOND RESERVE FUND EMERGENCY RESERVE FUND UNRESTRICTED RESERVE FUND TOTAL RESTRICTED ASSETS FIXED ASSETS PRODUCTION LTG PROJECT TRANSMISSION DISTRIBUTION GENERAL FIXED ASSETS (COST) LESS ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS, NET INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY -IN LOSS OF REVENUE INTANGIBLE LESS ACCUMULATED AMORTIZATION TOTAL INTANGIBLE ASSETS, NET OTHER ASSETS AND DEFERRED OUTFLOWS TOTAL ASSETS LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTSPAYABLE SALARIES AND BENEFITS PAYABLE DUE TO CITY DUE TO OTHER FUNDS NOTES PAYABLE -CURRENT PORTION BONDS PAYABLE -CURRENT PORTION UNEARNED REVENUE TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES OPEB LIABILITY LTG PROJECT DUE TO COUNTY DUE TO CITY BONDS PAYABLE, LESS CURRENT PORTION PENSION LIABILITIES TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES FUND EQUITY CAPITAL ACCOUNT CONST COST CONTRIBUTED CAPITAL RETAINED EARNINGS NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) TOTAL FUND EQUITY TOTAL LIABILITIES & FUND EQUITY ELECTRIC WATER 12,189,651 9,521,252 2,376,861 5,639,076 1,191,395 15,799 271,218 48,754 615,556 1,664,474 16,644,680 16,889,355 1,779,016 0 2,955,798 1,367,390 0 0 4,734,814 824,065 0 2,305,024 49,317,397 24,310,102 76,756,588 (34,458,423) 42,298,165 21,546,212 6,223,278 (3,562,237) 24,207,254 1,187,557 89,072,470 5,553,112 794,961 1,017,961 0 0 955,000 21,972 8,343,007 0 0 0 0 28,255,273 3,789,381 32,044,654 40,387,661 54,129 1,779,016 0 47,013,497 (161,833) 48,630,680 89,072,470 1,367,390 16,798,616 0 0 27,692,862 1,224,612 45,716,091 (23,367,618) 22,348,473 0 0 0 0 226,587 40,831,805 481,455 122,792 32,062 0 0 60,000 478,439 1,174,747 0 0 0 0 1,561,391 725,038 2,286,429 3,461,176 5,121,831 0 0 32,294,550 (45,752) 32,248,798 40,831,805 158 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA ELECTRIC BALANCE SHEET ASSETS CURRENT ASSETS CASH ACCOUNTS RECEIVABLE INVENTORIES PREPAID ITEMS CONSTRUCTION IN PROGRESS TOTAL CURRENT ASSETS RESTRICTED ASSETS BOND RESERVE FUND EMERGENCY RESERVE FUND TOTAL RESTRICTED ASSETS FIXED ASSETS PRODUCTION TRANSMISSION DISTRIBUTION GENERAL FIXED ASSETS (COST) LESS ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS, NET INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY -IN LOSS OF REVENUE INTANGIBLE LESS ACCUMULATED AMORTIZATION TOTAL INTANGIBLE ASSETS, NET OTHER ASSETS AND DEFERRED OUTFLOWS TOTAL ASSETS LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTSPAYABLE SALARIES AND BENEFITS PAYABLE DUE TO CITY BONDS PAYABLE -CURRENT PORTION UNEARNED REVENUE TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES BONDS PAYABLE, LESS CURRENT PORTION PENSION LIABILITIES TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES FUND EQUITY CAPITAL ACCOUNT CONST COST RETAINED EARNINGS NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) TOTAL FUND EQUITY TOTAL LIABILITIES & FUND EQUITY Current Month Change from January 31, 2024 December 31, 2023 Prior Month 12,189,651 11,943,243 246,408 2,376,861 2,373,501 3,360 1,191,395 1,048,510 142,884 271,218 185,599 85,619 615,556 834,235 (218,680) 16,644,680 16,385,089 259,592 1,779,016 1,779,016 0 2,955,798 2,952,992 2,806 4,734,814 4,732,007 2,806 824,065 824,065 0 2,305,024 2,305,024 0 49,317,397 49,317,397 0 24,310,102 24,270,090 40,012 76,756,588 76,716,576 40,012 (34,458,423) (34,240,006) (218,417) 42,298,165 42,476,571 (178,406) 21,546,212 21,546,212 0 6,223,278 6,223,278 0 (3,562,237) (3,506,559) (55,678) 24,207,254 24,262,932 (55,678) 1,187,557 1,187,557 0 89,072,470 89,044,155 28,314 5,553,112 5,401,883 151,229 794,961 719,079 75,882 1,017,961 928,921 89,040 955,000 955,000 0 21,972 142,988 (121,016) 8,343,007 8,147,872 195,135 28,255,273 28,260,262 (4,989) 3,789,381 3,789,381 0 32,044,654 32,049,643 (4,989) 40,387,661 40,197,514 190,147 54,129 54,129 0 1,779,016 1,779,016 0 47,013,497 45,204,945 1,808,551 (161,833) 1,808,551 (1,970,384) 48,630,680 48,792,512 (161,833) 89,072,470 89,044,155 28,314 159 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA WATER BALANCE SHEET ASSETS CURRENT ASSETS CASH ACCOUNTS RECEIVABLE INVENTORIES PREPAID ITEMS CONSTRUCTION IN PROGRESS TOTAL CURRENT ASSETS RESTRICTED ASSETS EMERGENCY RESERVE FUND TOTAL RESTRICTED ASSETS FIXED ASSETS PRODUCTION DISTRIBUTION GENERAL FIXED ASSETS (COST) LESS ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS, NET INTANGIBLE ASSETS OTHER ASSETS AND DEFERRED OUTFLOWS TOTAL ASSETS LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTSPAYABLE SALARIES AND BENEFITS PAYABLE DUE TO CITY BONDS PAYABLE -CURRENT PORTION UNEARNED REVENUE TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES BONDS PAYABLE, LESS CURRENT PORTION PENSION LIABILITIES TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES FUND EQUITY RETAINED EARNINGS NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) TOTAL FUND EQUITY TOTAL LIABILITIES & FUND EQUITY Current Month Change from January 31, 2024 December 31, 2023 Prior Month 9,521,252 9,512,812 8,440 5,639,076 5,607,298 31,778 15,799 17,102 (1,303) 48,754 35,211 13,543 1,664,474 1,476,495 187,979 16,889,355 16,648,919 240,437 1,367,390 1,366,689 702 1,367,390 1,366,689 702 16,798,616 16,798,616 0 27,692,862 27,692,862 0 1,224,612 1,224,045 568 45,716,091 45,715,523 568 (23,367,618) (23,267,614) (100,005) 22,348,473 22,447,910 (99,437) 226,587 226,587 0 40,831,805 40,690,104 141,701 481,455 357,914 123,540 122,792 96,405 26,387 32,062 33,460 (1,398) 60,000 60,000 0 478,439 438,961 39,478 1,174,747 986,740 188,007 1,561,391 1,561,945 (554) 725,038 725,038 0 2,286,429 2,286,983 (554) 3,461,176 3,273,723 187,453 5,121,831 5,121,831 0 32,294,550 30,887,406 1,407,144 (45,752) 1,407,144 (1,452,896) 32,248,798 32,294,550 (45,752) 40,831,805 40,690,104 141,701 160 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 YTD 2024 YTD 2024 2023 2023 YTD 2023 v. JANUARY YTD YTD Budget Bud Var% ANNUAL JANUARY YTD VARIANCE 2024 Actual Electric BUDGET Variance BUDGET Var%o Variance Item Revenue Operating Revenue Elk River Otsego Rural Big Lake Dayton Public St & Hwy Lighting Other Electric Sales Total Operating Revenue Other Operating Revenue Interest/Dividend Income Customer Penalties Connection Fees Misc Revenue Total Other Revenue Total Revenue Expenses Purchased Power Operating & Mtce Expense Transmission Expense Distribution Expense Maintenance Expense Depreciation & Amortization Interest Expense Other Operating Expense Customer Accounts Expense Administrative Expense General Expense Total Expenses(before Operating Transfers) Operating Transfer Operating Transfer/Other Funds Utilities & Labor Donated Total Operating Transfer Net Income Profit(Loss) 2,784,059 2,784,059 3,135,121 (351,062) (11) 42,685,299 2,805,567 2,805,567 (21,509) (1) 271,702 271,702 244,850 26,853 11 3,514,568 250,334 250,334 21,369 9 16,516 16,516 19,717 (3,201) (16) 243,412 17,051 17,051 (534) (3) 19,160 19,160 22,294 (3,134) (14) 292,752 19,710 19,710 (551) (3) 21,668 21,668 21,667 1 0 260,000 21,723 21,723 (55) (0) 400 400 400 0 0 4,800 400 400 0 0 3,113,506 3,113,506 3,444,049 (330,543) (10) 47,000,831 3,114,786 3,114,786 (1,280) (0) 47,245 47,245 7,083 i 40,162 85,000 9,433 9,433 EF 37,813 -(1) 20,145 20,145 23,750 (3,605) (15) 285,000 21,874 21,874 (1,728) (8) 91,385 91,385 11,250 80,135 135,000 6,275 6,275 ` 85,110 -(2) 79,906 79,906 83,833 (3,927) (5) 1,016,000 67,312 67,312 12,594 19 238,682 238,682 125,917 112,765 90 1,521,000 104,893 104,893 133,789 128 3,352,187 3,352,187 3,569,965 (217,778) (6) 48,521,831 3,219,679 3,219,679 132,509 4 2,218,997 2,218,997 2,374,835 (155,838) (7) 32,756,447 2,215,450 2,215,450 3,548 0 27,467 27,467 44,217 (16,749) (38) 369,000 43,734 43,734 (16,266) (37) 5,559 5,559 6,000 (441) (7) 72,000 5,118 5,118 441 9 43,594 43,594 35,292 8,302 24 425,917 32,438 32,438 11,156 34 209,197 209,197 169,875 39,322 1,668,500 139,313 139,313 69,884 -(3) 274,095 274,095 258,968 15,127 6 3,107,612 265,028 265,028 9,067 3 66,412 66,412 66,412 0 0 785,810 69,425 69,425 (3,013) (4) 4,867 4,867 4,675 192 4 506,900 4,569 4,569 298 7 33,153 33,153 36,583 (3,431) (9) 439,000 31,915 31,915 1,238 4 467,515 467,515 482,826 (15,310) (3) 4,208,492 485,751 485,751 (18,235) (4) 32,280 32,280 53,083 (20,804) (39) 637,000 40,134 40,134 (7,854) (20) 3,383,137 3,383,137 3,532,766 (149,629) (4) 44,976,679 3,332,874 3,332,874 50,263 2 112,061 112,061 125,405 (13,343) (11) 1,707,412 125,228 125,228 (13,166) (11) 18,821 18,821 22,000 (3,179) (14) 264,000 20,413 20,413 (1,592) (8) 130,883 130,883 147,405 (16,522) (11) 1,971,412 145,640 145,640 (14,758) (10) (161,833) (161,833) (110,205) (51,627) (47) 1,573,740 (258,836) (258,836) 97,004 37 Item Variance of+/- $25,000 and+/- 15% (1) Budget variance is due to a conservative budgeted amount. PY variance is due to the change in Fair Market Value of Investments. (2) Budget and PY variance due to large a large connection agreement in January 2024. (3) Budget and PY variance is mainly due to increased tree trimming expense (contractors and ERMU labor) and transportation expense (labor) in January 2024. 161 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 YTD 2024 YTD 2024 2023 2023 YTD 2023 v. JANUARY YTD YTD Budget Bud Var%o ANNUAL JANUARY YTD VARIANCE 2024 Actual Water BUDGET Variance BUDGET Var%o Variance Item Revenue Operating Revenue Water Sales Total Operating Revenue Other Operating Revenue Interest/Dividend Income Customer Penalties Connection Fees Misc Revenue Total Other Revenue Total Revenue Expenses Production Expense Pumping Expense Distribution Expense Depreciation & Amortization Interest Expense Other Operating Expense Customer Accounts Expense Administrative Expense General Expense Total Expenses(before Operating Transfers) Operating Transfer Utilities & Labor Donated Total Operating Transfer Net Income Profit(Loss) 135,638 135,638 125,507 10,131 8 2,788,003 134,366 134,366 1,273 135,638 135,638 125,507 10,131 8 2,788,003 134,366 134,366 1,273 13,839 13,839 3,458 10,381 300 41,500 3,326 3,326 10,513 316 2,367 2,367 2,083 284 14 25,000 1,748 1,748 619 35 89,938 89,938 21,250 1jr- 68,688 255,000 11,766 11,766 IF- 78,172 -(1) 994 994 1,296 (302) (23) 618,786 975 975 19 2 107,138 107,138 28,088 79,051 281 940,286 17,816 17,816 89,322 501 242,776 242,776 153,595 89,182 58 3,728,289 152,181 152,181 90,595 60 12,142 12,142 9,583 2,558 27 115,000 10,599 10,599 1,543 15 47,387 47,387 53,806 (6,419) (12) 645,671 47,297 47,297 90 0 15,727 15,727 60,104 (44,377)� 422,250 45,157 45,157 (29,430)�(2) 100,005 100,005 95,750 4,255 4 1,148,988 97,368 97,368 2,637 3 2,912 2,912 2,912 0 0 33,949 3,112 3,112 (200) (6) 121 121 275 (154) (56) 82,300 255 255 (134) (53) 7,133 7,133 7,646 (512) (7) 91,750 7,336 7,336 (203) (3) 103,041 103,041 110,388 (7,347) (7) 1,092,624 106,850 106,850 (3,809) (4) 61 61 1,271 (1,210) (95) 15,250 506 506 (445) (88) 288,528 288,528 341,735 (53,207) (16) 3,647,782 318,480 318,480 (29,952) (9) 0 0 125 (125) (100) 1,500 0 0 0 0 0 0 125 (125) (100) 1,500 0 0 0 0 (45,752) (45,752) (188,266) 142,514 76 79,007 (166,299) (166,299) 120,547 72 Item Variance of+/- $15,000 and+/- 15% (1) Budget and PY variance due to large 2 large connection agreements in January 2024. (2) Budget and PY variance is due to a 2023 water main repair and timing issue for water permit. 162 Elk River Municipal Utilities Monthly Electrical Demand 80.0 75.0 70.0 65.0 2 60.0 c 55.0 R E 0 50.0 45.0 40.0 35.0 1< Month -♦--2023 f2024 Elk River Municipal Utilities Monthly Energy Purchases 40,000 35,000 ---®----tt` x J. `% 30,000 �� % 25,000 s i 7 a 20,000 rn i d C W 15,000 g � O Month -♦--2023 f2024 163 Elk River Municipal Utilities Monthly Total Electric Load 35,000 33,000 31,000 = 29,000 ` 27,000 �r a--- 0 25,000 L 23,000 w 21,000 19,000 17,000 15, 000 Month 0 -4-2023-■-2024 Elk River Municipal Utilities Monthly Electric Sales $5,000,000 $4,500,000 i $4,000,000 � i $3,500,000 �a o $3,000,000 c � .y R $2,500,000 Cn $2,000,000 $1,500,000 $1,000,000 Month --$.--2023 --■-2024 164 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 20,000 18,000 16,000 14,000 12,000 x 10,000 8,000 •S y 6,000 c J 4,000 2,000 Month —--2023 Residential t2024 Residential 2023 Commercial --)( ..2024 Commercial -----2023 Industrial — —2024 Industrial / Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $2,500,000 $2,000,000 m $1,500,000 0 0 c ayi $1,000,000 �a $500,000 $0 a6 c1"Q �'0 Month —--2023 Residential t2024 Residential 2023 Commercial --)(---2024 Commercial —*--2023 Industrial —2024 Industrial SIC 165 Elk River Municipal Utilities Monthly Water Pumpage 180.0 160.0 140.0 c 120.0 100.0 c a� 80.0 Co Q. 60.0 3 IL 40.0 20.0 0.0 K� Month --*-•2023 ■ 2024 Elk River Municipal Utilities Peak Day Pumpage 8.0 7.0 6.0 a` - R 5.0 � c O I ♦♦ =_ +.0 c 3.0 Y m 2.0 IL- 1.0 0.0 t1 c1 or PQ�\ ��� ,J.oe ���� �y� o�,poc G�000c � Qo P SoQ� p �o� Ooa Month -4-•2023 f2024 166 Elk River Municipal Utilities Monthly Water Sales 180 $600,000 160 $500,000 140 120 o 100 $400,000 L R C $0 $300,000 C d 60 $200,000 y N to in 40 $100,000 20 0 $0 ���` �D Month 02023 MG �2024 MG -�-2023 $ f2024 $ I / ` 167 Electric Revenue Operating Revenue Elk River Otsego ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 JANUARY YTD BUDGET BUDGET Bud Var% JANUARY 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: 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 2023 YTD 2023 v. 2024 YTD VARIANCE Actual Var% 1,015,025 1,015,025 1,104,214 14,221,539 (8) 1,069,498 1,069,498 (54,472) 236,554 236,554 280,126 3,634,057 (16) 273,291 273,291 (36,736) 1,247,893 1,247,893 1,367,037 19,965,865 (9) 1,290,189 1,290,189 (42,296) 93,737 93,737 125,700 1,485,155 (25) 57,531 57,531 36,206 25,611 25,611 35,047 408,036 (27) 16,087 16,087 9,524 165,236 165,236 222,994 2,970,644 (26) 98,969 98,969 66,266 2,784,058 2,784,058 3,135,120 42,685,299 (11) 2,805,567 2,805,567 (21,508) 110,992 110,992 104,884 1,438,521 6 110,894 110,894 97 31,314 31,314 28,855 477,265 9 30,052 30,052 1,262 103,144 103,144 76,605 1,154,078 35 94,842 94,842 8,302 9,851 9,851 13,728 162,572 (28) 5,830 5,830 4,021 3,162 3,162 5,126 58,535 (38) 1,772 1,772 1,389 13,237 13,237 15,649 223,596 (15) 6,942 6,942 6,295 271,702 271,702 244,849 3,514,568 11 250,333 250,333 21,368 14,967 14,967 17,726 216,883 (16) 16,022 16,022 (1,054) 163 163 152 4,737 7 154 154 8 1,377 1,377 1,796 21,268 (23) 869 869 508 7 7 42 522 (81) 4 4 3 16,516 16,516 19,717 243,411 (16) 17,050 17,050 (534) 14,726 14,726 17,342 224,525 (15) 16,106 16,106 (1,380) 2,875 2,875 2,710 41,609 6 2,623 2,623 251 1,300 1,300 1,875 22,385 (31) 844 844 455 258 258 366 4,231 (30) 134 134 123 19,159 19,159 22,294 292,751 (14) 19,710 19,710 (550) 21,668 21,668 21,666 260,000 0 21,723 21,723 (55) 21,668 21,668 21,666 260,000 0 21,723 21,723 (55) 400 400 400 4,800 0 400 400 0 168 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% Total For Other Electric Sales: 400 400 400 4,800 0 400 400 0 0 Total Operating Revenue 3,113,505 3,113,505 3,444,048 47,000,831 (10) 3,114,785 3,114,785 (1,279) 0 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME 47,245 47,245 7,083 85,000 567 9,432 9,432 37,812 401 Total For Interest/Dividend Income: 47,245 47,245 7,083 85,000 567 9,432 9,432 37,812 401 Customer Penalties CUSTOMER DELINQUENT PENALT 20,145 20,145 23,750 285,000 (15) 21,873 21,873 (1,728) (8) Total For Customer Penalties: 20,145 20,145 23,750 285,000 (15) 21,873 21,873 (1,728) (8) Connection Fees DISCONNECT & RECONNECT CHA 91,385 91,385 11,250 135,000 712 6,275 6,275 85,110 1,356 Total For Connection Fees: 91,385 91,385 11,250 135,000 712 6,275 6,275 85,110 1,356 Misc Revenue MISC ELEC REVENUE - TEMP CHG 440 440 416 5,000 6 1,070 1,070 (630) (59) STREET LIGHT 12,600 12,600 0 10,000 0 0 0 12,600 0 TRANSMISSION INVESTMENTS 55,897 55,897 55,500 666,000 1 56,700 56,700 (802) (1) MISC NON -UTILITY 10,968 10,968 9,166 110,000 20 9,541 9,541 1,427 15 CONTRIBUTIONS FROM CUSTOME 0 0 18,750 225,000 (100) 0 0 0 0 Total For Misc Revenue: 79,906 79,906 83,833 1,016,000 (5) 67,311 67,311 12,594 19 Total Other Revenue 238,681 238,681 125,916 1,521,000 90 104,892 104,892 133,788 128 Total For Total Other Revenue: 238,681 238,681 125,916 1,521,000 90 104,892 104,892 133,788 128 Total Revenue 3,352,187 3,352,187 3,569,965 (6) 4 48,521,831 3,219,678 3,219,678 132,508 Expenses Purchased Power PURCHASED POWER 1,709,921 1,709,921 1,703,944 24,250,423 0 1,695,635 1,695,635 14,286 1 ENERGY ADJUSTMENT CLAUSE 509,075 509,075 670,891 8,506,023 (24) 519,814 519,814 (10,738) (2) Total For Purchased Power: 2,218,997 2,218,997 2,374,835 32,756,447 (7) 2,215,449 2,215,449 3,547 0 Operating & Mtce Expense OPERATING SUPERVISION 11,443 11,443 10,916 131,000 5 10,410 10,410 1,032 10 DIESEL OIL FUEL 0 0 833 10,000 (100) 501 501 (501) (100) NATURAL GAS 4,885 4,885 7,000 33,000 (30) 6,733 6,733 (1,847) (27) ELECTRIC & WATER CONSUMPTI 6,743 6,743 7,550 66,000 (11) 4,295 4,295 2,448 57 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% PLANT SUPPLIES & OTHER EXPEN 1,959 1,959 1,250 15,000 57 6,342 6,342 (4,383) (69) MISC POWER GENERATION EXPE 140 140 666 8,000 (79) 644 644 (504) (78) MAINTENANCE OF STRUCTURE - 792 792 1,750 21,000 (55) 2,961 2,961 (2,169) (73) MTCE OF PLANT ENGINES/GENER 552 552 3,250 39,000 (83) 1,718 1,718 (1,165) (68) MTCE OF PLANT/LAND IMPROVE 950 950 11,000 46,000 (91) 10,125 10,125 (9,175) (91) Total For Operating & Mtce Expense: 27,467 27,467 44,216 369,000 (38) 43,733 43,733 (16,266) (37) Transmission Expense TRANSMISSION MTCE AND EXPE 5,558 5,558 6,000 72,000 (7) 5,117 5,117 441 9 Total For Transmission Expense: 5,558 5,558 6,000 72,000 (7) 5,117 5,117 441 9 Distribution Expense REMOVE EXISTING SERVICE & M 0 0 166 2,000 (100) 0 0 0 0 SCADA EXPENSE 2,952 2,952 3,750 45,000 (21) 2,874 2,874 77 3 TRANSFORMER EXPENSE OH & U 1,031 1,031 1,250 15,000 (17) 1,077 1,077 (45) (4) MTCE OF SIGNAL SYSTEMS 139 139 250 3,000 (44) 0 0 139 0 METER EXPENSE - REMOVE & RE 241 241 125 1,500 93 0 0 241 0 TEMP SERVICE - INSTALL & REM 0 0 583 7,000 (100) 0 0 0 0 MISC DISTRIBUTION EXPENSE 39,229 39,229 29,166 350,000 35 28,486 28,486 10,742 38 INTERCONNECTION CARRYING C 0 0 0 2,417 0 0 0 0 0 Total For Distribution Expense: 43,594 43,594 35,291 425,917 24 32,438 32,438 11,155 34 Maintenance Expense MTCE OF STRUCTURES 4,725 4,725 4,166 50,000 13 1,070 1,070 3,654 341 MTCE OF SUBSTATIONS 3,902 3,902 3,000 36,000 30 6,702 6,702 (2,800) (42) MTCE OF SUBSTATION EQUIPME 16,059 16,059 6,583 79,000 144 1,598 1,598 14,461 905 MTCE OF OH LINES/TREE TRIM 68,239 68,239 50,000 230,000 36 42,225 42,225 26,014 62 MTCE OF OH LINES/STANDBY 3,935 3,935 3,333 40,000 18 2,733 2,733 1,202 44 MTCE OF OH PRIMARY 15,420 15,420 14,166 170,000 9 10,186 10,186 5,233 51 MTCE OF URD PRIMARY (8,250) (8,250) 18,333 220,000 (145) 8,593 8,593 (16,843) (196) LOCATE ELECTRIC LINES 3,480 3,480 9,166 110,000 (62) 1,416 1,416 2,063 146 LOCATE FIBER LINES 0 0 125 1,500 (100) 0 0 0 0 MTCE OF LINE TRANSFORMERS 2,425 2,425 5,000 60,000 (52) 1,355 1,355 1,069 79 MTCE OF STREET LIGHTING 8,501 8,501 4,166 50,000 104 4,860 4,860 3,640 75 MTCE OF SECURITY LIGHTING 1,771 1,771 1,250 15,000 42 1,674 1,674 96 6 MTCE OF METERS 7,116 7,116 6,666 80,000 7 6,687 6,687 428 6 VOLTAGE COMPLAINTS 0 0 1,000 12,000 (100) 1,291 1,291 (1,291) (100) SALARIES TRANSMISSION & DIST 2,604 2,604 2,500 30,000 4 2,397 2,397 206 9 170 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% ELECTRIC MAPPING 30,979 30,979 8,333 100,000 272 19,409 19,409 11,569 60 MTCE OF OH SECONDARY 1,409 1,409 2,083 25,000 (32) 2,081 2,081 (671) (32) MTCE OF URD SECONDARY 3,709 3,709 5,000 60,000 (26) 3,752 3,752 (43) (1) TRANSPORTATION EXPENSE 43,166 43,166 25,000 300,000 73 21,273 21,273 21,892 103 Total For Maintenance Expense: 209,197 209,197 169,875 1,668,500 23 139,313 139,313 69,883 50 Depreciation & Amortization DEPRECIATION 218,417 218,417 203,290 2,439,475 7 209,350 209,350 9,066 4 AMORTIZATION 55,677 55,677 55,678 668,136 0 55,677 55,677 0 0 Total For Depreciation & Amortization: 274,095 274,095 258,968 3,107,611 6 265,028 265,028 9,066 3 Interest Expense INTEREST EXPENSE - BONDS 71,400 71,400 71,400 845,673 0 74,413 74,413 (3,012) (4) AMORTIZATION OF DEBT DISCOU (4,988) (4,988) (4,988) (59,863) 0 (4,988) (4,988) 0 0 Total For Interest Expense: 66,412 66,412 66,412 785,810 0 69,424 69,424 (3,012) (4) Other Operating Expense EV CHARGING EXPENSE 207 207 258 3,100 (20) 289 289 (81) (28) LOSS ON DISPOSITION OF PROP (C 0 0 0 155,800 0 0 0 0 0 OTHER DONATIONS 0 0 250 3,000 (100) 0 0 0 0 PENSION EXPENSE 0 0 0 295,000 0 0 0 0 0 OTHER INTEREST EXPENSE 0 0 0 0 0 378 378 (378) (100) INTEREST EXPENSE - METER DEP 4,660 4,660 4,166 50,000 12 3,902 3,902 757 19 Total For Other Operating Expense: 4,867 4,867 4,675 506,900 4 4,569 4,569 297 7 Customer Accounts Expense METER READING EXPENSE 3,672 3,672 3,916 47,000 (6) 2,846 2,846 826 29 DISCONNECT/RECONNECT EXPEN 1,341 1,341 1,833 22,000 (27) 1,263 1,263 77 6 MISC CUSTOMER ACCOUNTS EXP 26,897 26,897 28,750 345,000 (6) 27,716 27,716 (818) (3) BAD DEBT EXPENSE & RECOVER 1,240 1,240 2,083 25,000 (40) 87 87 1,152 1,310 Total For Customer Accounts Expense: 33,152 33,152 36,583 439,000 (9) 31,914 31,914 1,237 4 Administrative Expense SALARIES OFFICE & COMMISSION 75,278 75,278 75,666 908,000 (1) 67,404 67,404 7,873 12 TEMPORARY STAFFING 0 0 333 4,000 (100) 0 0 0 0 OFFICE SUPPLIES 4,557 4,557 10,416 125,000 (56) 10,807 10,807 (6,250) (58) ELECTRIC & WATER CONSUMPTI 2,146 2,146 3,333 40,000 (36) 6,194 6,194 (4,048) (65) BANK FEES 135 135 208 2,500 (35) 137 137 (1) (1) LEGAL FEES 1,264 1,264 2,500 30,000 (49) 2,360 2,360 (1,096) (46) AUDITING FEES 1,640 1,640 1,833 22,000 (11) 1,623 1,623 16 1 171 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% INSURANCE 15,414 15,414 15,833 190,000 (3) 16,356 16,356 (942) (6) UTILITY SHARE - DEFERRED COM 17,288 17,288 10,000 120,000 73 20,166 20,166 (2,877) (14) UTILITY SHARE - MEDICAUDENT 186,534 186,534 184,500 870,000 1 189,239 189,239 (2,704) (1) UTILITY SHARE -PERA 26,121 26,121 25,166 302,000 4 23,529 23,529 2,592 11 UTILITY SHARE - FICA 25,252 25,252 24,583 295,000 3 22,577 22,577 2,674 12 EMPLOYEE SICK PAY (3,137) (3,137) 13,750 165,000 (123) 30,487 30,487 (33,624) (110) EMPLOYEE HOLIDAY PAY 30,692 30,692 31,272 172,000 (2) 29,537 29,537 1,155 4 EMPLOYEE VACATION & PTO PA 49,557 49,557 41,000 275,000 21 44,114 44,114 5,442 12 UPMIC DISTRIBUTION 0 0 0 101,000 0 0 0 0 0 LONGEVITY PAY 0 0 0 6,964 0 0 0 0 0 CONSULTING FEES 2,033 2,033 8,133 97,600 (75) 0 0 2,033 0 TELEPHONE 2,911 2,911 3,166 38,000 (8) 3,495 3,495 (584) (17) ADVERTISING 1,632 1,632 1,583 19,000 3 1,281 1,281 350 27 DUES & SUBSCRIPTIONS - FEES 7,492 7,492 11,461 137,533 (35) 9,884 9,884 (2,392) (24) SCHOOLS & MEETINGS 19,856 19,856 17,000 274,894 17 5,550 5,550 14,306 258 MTCE OF GENERAL PLANT & OFFI 845 845 1,083 13,000 (22) 1,002 1,002 (157) (16) Total For Administrative Expense: 467,515 467,515 482,825 4,208,492 (3) 485,750 485,750 (18,235) (4) General Expense CIP REBATES - RESIDENTIAL 7,025 7,025 7,563 90,758 (7) 2,555 2,555 4,470 175 CIP REBATES - COMMERCIAL 0 0 9,333 112,000 (100) 10,980 10,980 (10,980) (100) CIP - ADMINISTRATION 10,000 10,000 15,247 182,965 (34) 502 502 9,497 1,888 CIP - MARKETING 813 813 4,269 51,235 (81) 4,580 4,580 (3,766) (82) CIP - LABOR 11,050 11,050 11,151 133,822 (1) 12,288 12,288 (1,238) (10) CIP REBATES - LOW INCOME 0 0 1,560 18,720 (100) 0 0 0 0 CIP - LOW INCOME LABOR 863 863 833 10,000 4 821 821 41 5 ENVIRONMENTAL COMPLIANCE 2,547 2,547 2,916 35,000 (13) 2,578 2,578 (30) (1) MISC GENERAL EXPENSE (20) (20) 208 2,500 (110) 5,827 5,827 (5,847) (100) Total For General Expense: 32,279 32,279 53,083 637,000 (39) 40,133 40,133 (7,853) (20) Total Expenses(before Operating Transfers) 3,383,137 3,383,137 3,532,765 44,976,678 (4) 3,332,874 3,332,874 50,262 2 Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R 112,061 112,061 125,404 1,707,411 (11) 125,227 125,227 (13,166) (11) Total For Operating Transfer/Other Funds: 112,061 112,061 125,404 1,707,411 (11) 125,227 125,227 (13,166) (11) Utilities & Labor Donated 172 Electric ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 JANUARY YTD BUDGET BUDGET Bud Var% JANUARY UTILITIES & LABOR DONATED TO 18,821 18,821 22,000 264,000 (14) 20,412 Total For Utilities & Labor Donated: 18,821 18,821 22,000 264,000 (14) 20,412 Total Operating Transfer Total For Total Operating Transfer: 130,882 130,882 147,404 1,971,411 (11) 145,640 Net Income Profit(Loss) (161,832) (161,832) (110,205) 1,573,740 (47) (258,836) 2023 YTD 2023 v. 2024 YTD VARIANCE Actual Var% 20,412 (1,591) (8) 20,412 (1,591) (8) 145,640 (14,757) (10) (258,836) 97,003 37 173 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% Revenue Operating Revenue Water Sales WATER SALES RESIDENTIAL 87,481 87,481 79,084 1,595,403 11 85,664 85,664 1,817 2 WATER SALES COMMERCIAL 46,521 46,521 45,078 923,908 3 47,137 47,137 (616) (1) WATER SALES IRRIGATION 1,635 1,635 1,344 268,691 22 1,563 1,563 71 5 Total For Water Sales: 135,638 135,638 125,507 2,788,003 8 134,365 134,365 1,272 1 Total Operating Revenue 135,638 135,638 125,507 2,788,003 8 134,365 134,365 1,272 1 Total For Total Operating Revenue: 135,638 135,638 125,507 2,788,003 8 134,365 134,365 1,272 1 Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME 13,839 13,839 3,333 40,000 315 3,326 3,326 10,512 316 OTHER INTEREST/MISC REVENUE 0 0 125 1,500 (100) 0 0 0 0 Total For Interest/Dividend Income: 13,839 13,839 3,458 41,500 300 3,326 3,326 10,512 316 Customer Penalties CUSTOMER PENALTIES 2,367 2,367 2,083 25,000 14 1,748 1,748 618 35 Total For Customer Penalties: 2,367 2,367 2,083 25,000 14 1,748 1,748 618 35 Connection Fees WATER/ACCESS/CONNECTION FE 78,149 78,149 16,666 200,000 369 10,800 10,800 67,349 624 CUSTOMER CONNECTION FEES 3,765 3,765 2,500 30,000 51 966 966 2,799 290 BULK WATER SALES/HYDRANT R 8,022 8,022 2,083 25,000 285 0 0 8,022 0 Total For Connection Fees: 89,937 89,937 21,250 255,000 323 11,766 11,766 78,171 664 Misc Revenue MISC NON -UTILITY 20 20 4 50 400 0 0 20 0 TRANSFER IN FROM CITY 0 0 0 230,000 0 0 0 0 0 MISCELLANEOUS REVENUE 0 0 41 500 (100) 0 0 0 0 HYDRANT MAINTENANCE PROGR 973 973 1,250 15,000 (22) 975 975 (1) 0 CONTRIBUTIONS FROM DEVELOP 0 0 0 65,000 0 0 0 0 0 WATER TOWER LEASE 0 0 0 308,236 0 0 0 0 0 Total For Mise Revenue: 993 993 1,295 618,786 (23) 975 975 18 2 Total Other Revenue 107,138 107,138 28,087 940,286 281 17,815 17,815 89,322 501 Total For Total Other Revenue: 107,138 107,138 28,087 940,286 281 17,815 17,815 89,322 501 174 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% Total Revenue 242,776 242,776 153,594 3,728,289 58 152,181 152,181 90,594 60 Expenses Production Expense MTCE OF STRUCTURES 12,141 12,141 9,583 115,000 27 10,598 10,598 1,542 15 Total For Production Expense: 12,141 12,141 9,583 115,000 27 10,598 10,598 1,542 15 Pumping Expense SUPERVISION 6,186 6,186 5,625 67,500 10 5,610 5,610 576 10 ELECTRIC & GAS UTILITIES 20,137 20,137 27,930 335,171 (28) 24,279 24,279 (4,141) (17) SAMPLING 1,775 1,775 1,416 17,000 25 1,656 1,656 119 7 CHEMICAL FEED 2,238 2,238 4,416 53,000 (49) 2,440 2,440 (202) (8) MTCE OF WELLS 16,731 16,731 13,750 165,000 22 13,018 13,018 3,713 29 SCADA - PUMPING 315 315 666 8,000 (53) 291 291 24 9 Total For Pumping Expense: 47,386 47,386 53,805 645,671 (12) 47,297 47,297 89 0 Distribution Expense MTCE OF WATER MAINS 2,402 2,402 14,583 175,000 (84) 20,703 20,703 (18,301) (88) LOCATE WATER LINES 508 508 1,437 17,250 (65) 86 86 422 485 MTCE OF WATER SERVICES 0 0 41 500 (100) 0 0 0 0 WATER METER SERVICE 3,963 3,963 5,500 66,000 (28) 1,011 1,011 2,952 292 BACKFLOW DEVICE INSPECTION 1,261 1,261 1,261 20,000 0 2,136 2,136 (875) (41) MTCE OF CUSTOMERS SERVICE 2,940 2,940 2,750 33,000 7 2,451 2,451 488 20 WATER MAPPING 1,564 1,564 1,250 15,000 25 443 443 1,121 253 MTCE OF WATER HYDRANTS - PU 539 539 1,666 20,000 (68) 962 962 (423) (44) MTCE OF WATER HYDRANTS - PR 0 0 500 6,000 (100) 240 240 (240) (100) WATER CLOTHING/PPE 399 399 833 10,000 (52) 31 31 367 1,147 WAGES WATER 664 664 625 7,500 6 622 622 42 7 TRANSPORTATION EXPENSE 1,481 1,481 2,000 24,000 (26) 1,058 1,058 423 40 WATER PERMIT 0 0 27,655 28,000 (100) 15,407 15,407 (15,407) (100) Total For Distribution Expense: 15,726 15,726 60,103 422,250 (74) 45,156 45,156 (29,430) (65) Depreciation & Amortization DEPRECIATION 100,004 100,004 95,750 1,148,987 4 97,367 97,367 2,636 3 Total For Depreciation & Amortization: 100,004 100,004 95,750 1,148,987 4 97,367 97,367 2,636 3 Interest Expense INTEREST EXPENSE - BONDS 3,466 3,466 3,466 40,600 0 3,666 3,666 (199) (5) AMORTIZATION OF DEBT DISCOU (554) (554) (554) (6,651) 0 (554) (554) 0 0 Total For Interest Expense: 2,912 2,912 2,912 33,949 0 3,112 3,112 (199) (6) 175 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% Other Operating Expense LOSS ON DISPOSITION OF PROP (C 0 0 0 14,000 0 0 0 0 0 DAM MAINTENANCE EXPENSE 0 0 166 2,000 (100) 55 55 (55) (100) PENSION EXPENSE 0 0 0 65,000 0 0 0 0 0 OTHER INTEREST EXPENSE 0 0 0 0 0 94 94 (94) (100) INTEREST EXPENSE - METER DEP 120 120 108 1,300 12 104 104 16 15 Total For Other Operating Expense: 120 120 275 82,300 (56) 254 254 (133) (53) Customer Accounts Expense METER READING EXPENSE 190 190 208 2,500 (9) 147 147 42 28 MISC CUSTOMER ACCOUNTS EXP 6,943 6,943 7,416 89,000 (6) 7,188 7,188 (245) (3) BAD DEBT EXPENSE & RECOVER 0 0 20 250 (100) 0 0 0 0 Total For Customer Accounts Expense: 7,133 7,133 7,645 91,750 (7) 7,335 7,335 (202) (3) Administrative Expense SALARIES OFFICE & COMMISSION 21,880 21,880 23,750 285,000 (8) 19,496 19,496 2,383 12 TEMPORARY STAFFING 0 0 83 1,000 (100) 0 0 0 0 OFFICE SUPPLIES 1,074 1,074 3,083 37,000 (65) 1,799 1,799 (724) (40) ELECTRIC & WATER CONSUMPTI 536 536 916 11,000 (41) 1,144 1,144 (608) (53) BANK FEES 33 33 50 600 (32) 34 34 0 0 LEGAL FEES 287 287 750 9,000 (62) 590 590 (303) (51) AUDITING FEES 410 410 500 6,000 (18) 405 405 4 1 INSURANCE 3,460 3,460 3,583 43,000 (3) 3,016 3,016 444 15 UTILITY SHARE - DEFERRED COM 2,200 2,200 1,750 21,000 26 2,881 2,881 (680) (24) UTILITY SHARE - MEDICAL/DENT 39,947 39,947 40,000 220,000 0 46,074 46,074 (6,126) (13) UTILITY SHARE - PERA 4,942 4,942 4,666 56,000 6 4,525 4,525 416 9 UTILITY SHARE - FICA 4,797 4,797 4,500 54,000 7 4,329 4,329 468 11 EMPLOYEE SICK PAY 1,956 1,956 2,416 29,000 (19) 4,843 4,843 (2,886) (60) EMPLOYEE HOLIDAY PAY 4,493 4,493 5,818 32,000 (23) 4,234 4,234 258 6 EMPLOYEE VACATION & PTO PA 10,277 10,277 8,000 52,000 28 9,069 9,069 1,208 13 UPMIC DISTRIBUTION 0 0 0 21,000 0 0 0 0 0 WELLHEAD PROTECTION 0 0 170 2,000 (100) 0 0 0 0 LONGEVITY PAY 0 0 0 837 0 0 0 0 0 CONSULTING FEES 508 508 3,825 45,900 (87) 0 0 508 0 TELEPHONE 712 712 750 9,000 (5) 796 796 (83) (10) ADVERTISING 408 408 416 5,000 (2) 320 320 87 28 DUES & SUBSCRIPTIONS - FEES 866 866 1,600 88,114 (46) 1,282 1,282 (415) (32) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING JANUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water JANUARY YTD BUDGET BUDGET Bud Var% JANUARY YTD VARIANCE Actual Var% SCHOOLS & MEETINGS 4,034 4,034 3,500 61,072 15 1,755 1,755 2,279 130 MTCE OF GENERAL PLANT & OFFI 211 211 258 3,100 (18) 250 250 (39) (16) Total For Administrative Expense: 103,041 103,041 110,388 1,092,623 (7) 106,849 106,849 (3,808) (4) General Expense CIP REBATES - RESIDENTIAL 0 0 416 5,000 (100) 45 45 (45) (100) CIP REBATES - COMMERCIAL 0 0 41 500 (100) 0 0 0 0 CIP - MARKETING 0 0 166 2,000 (100) 0 0 0 0 CIP - LABOR 0 0 416 5,000 (100) 409 409 (409) (100) ENVIRONMENTAL COMPLIANCE 60 60 208 2,500 (71) 54 54 6 13 MISC GENERAL EXPENSE 0 0 20 250 (100) (2) (2) 2 100 Total For General Expense: 60 60 1,270 15,250 (95) 506 506 (445) (88) Total Expenses(before Operating Transfers) 288,528 288,528 341,735 3,647,781 (16) 318,480 318,480 (29,951) (9) Operating Transfer Utilities & Labor Donated WATER & LABOR DONATED TO Cl 0 0 125 1,500 (100) 0 0 0 0 Total Operating Transfer Total For Total Operating Transfer: 0 0 125 1,500 (100) 0 0 0 0 Net Income Profit(Loss) (45,751) (45,751) (188,265) 79,007 76 (166,298) (166,298) 120,546 72 177 Beginning Fiscal Period[YYYYMMI GL Division GL Department 202401 61 -Elk River Electric All Ending Fiscal Period[YYYYMM] GL Activity Period Type 202401 All All Periods ® ©® Budget Revenue Comparison & Variance Budget Expense Comparison & Variance Budget Analysis by Period Jan, 2024 - Jan, 2024 Jan, 2024 - Jan, 2024 Jan, 2024 - Jan, 2024 -$217,777.97 -$166,150.83 -6.10% -4.51 % d -- -40K --Empm Actual Budget Actual Budget 'o _80K $3,352,187.39 $3,569,965.36 $3,514,019.95 $3,680,170.78 E -120K < ■ Actual Amount _160K 0BudgetAnnount -200K • Cumuative Budget P 40' Cumulative Actual )2C Period Revenue Budget vs Actual by Period Expense Budget vs Actual by Period Jan, 2024 - Jan, 2024 Jan, 2024 - Jan, 2024 4M 4.5M 4M 3.5M 3M 2.5M 0 Q 2M 1.5M 1M 0.5M 0 ,10 sac Period Budget 0 Actual 178 Beginning Fiscal Period[YYYYMMI GL Division GL Department 202401 62 - Elk River Water All Ending Fiscal Period[YYYYMM] GL Activity Period Type 202401 All All Periods ® ©® Budget Revenue Comparison & Variance Budget Expense Comparison & Variance Budget Analysis by Period Jan, 2024 - Jan, 2024 Jan, 2024 - Jan, 2024 Jan, 2024 - Jan, 2024 $89,181.92 -$53,331.74 58.06% -15.60% d -40K Actual Budget Actual Budget 'o -80K L $242,776.43 $153,594.51 $288,528.27 $341,860.01 Q -120K ■g c[ualAmount _160K ■ Budgetgmouot -200K cumuative Budget P 40' Cumulative Actual )2C Period Revenue Budget vs Actual by Period Expense Budget vs Actual by Period Jan, 2024 - Jan, 2024 Jan, 2024 - Jan, 2024 280K 400K 240K 350K 200K 300K 160K .— 250K 0 0 200K Q 120K Q 150K 80K 100K 40K 50K 0 0 ti0`l'K ,LOO'6 Sao sac Period Period VO Budget 0 Actual Budget 0 Actual 179