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5.1 ERMUSR 04-09-2024��i Elk River , Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: April 9, 2024 5.1 SUBJECT: Financial Report —February 2024 ACTION REQUESTED: Receive the February 2024 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric February year to date (YTD) electric kWh sales are down 5% from the prior year. For further breakdown: • Residential usage is down 6% • Small Commercial usage is down 6% • Large Commercial usage is down 4% For February 2024, the Electric Department overall is slightly behind YTD but favorable to budget YTD. Additional variance analysis can be found on the Summary Electric Statement of Revenues, Expenses and Changes in Net Position attachment. Water February YTD gallons of water sold are up 1% from the prior year. For further breakdown: • Residential use is down less than 0.5% • Commercial use is up 2% For February 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 02.2024 • Electric Balance Sheet 02.2024 • Water Balance Sheet 02.2024 • Summary Electric Statement of Revenues, Expenses and Changes in Net Position 02.2024 • Summary Water Statement of Revenues, Expenses and Changes in Net Position 02.2024 • Graphs Prior Year and YTD 2024 Page 1 of 2 • Detailed Electric Statement of Revenues, Expenses and Changes in Net Position 02.2024 • Detailed Water Statement of Revenues, Expenses and Changes in Net Position 02.2024 • Budget vs Actual Graphs — Electric 02.2024 • Budget vs Actual Graphs — Water 02.2024 Page 2 of 2 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA COMBINED BALANCE SHEET FOR PERIOD ENDING FEBRUARY 2024 ELECTRIC WATER ASSETS CURRENT ASSETS CASH 9,546,799 9,319,821 ACCOUNTS RECEIVABLE 2,917,927 5,326,401 INVENTORIES 1,228,597 15,041 PREPAID ITEMS 237,881 56,003 CONSTRUCTION IN PROGRESS 1,065,513 2,196,872 TOTAL CURRENT ASSETS 14,996,707 16,914,139 RESTRICTED ASSETS BOND RESERVE FUND 1,779,016 0 EMERGENCY RESERVE FUND 2,959,556 1,368,330 UNRESTRICTED RESERVE FUND 0 0 TOTAL RESTRICTED ASSETS 4,738,571 1,368,330 FIXED ASSETS PRODUCTION 824,065 16,825,898 LEG PROJECT 0 0 TRANSMISSION 2,305,024 0 DISTRIBUTION 49,436,721 28,135,913 GENERAL 24,501,072 1,224,612 FIXED ASSETS (COST) 77,066,982 46,186,423 LESS ACCUMULATED DEPRECIATION (34,678,141) (23,469,984) TOTAL FIXED ASSETS, NET 42,398,741 22,716,439 INTANGIBLE ASSETS POWER AGENCY MEMBERSHIP BUY -IN 21,546,212 0 LOSS OF REVENUE INTANGIBLE 6,223,278 0 LESS ACCUMULATED AMORTIZATION (3,617,915) 0 TOTAL INTANGIBLE ASSETS, NET 24,151,576 0 OTHER ASSETS AND DEFERRED OUTFLOWS 690,058 126,311 TOTAL ASSETS 86,965,653 41,125,219 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 4,144,074 747,657 SALARIES AND BENEFITS PAYABLE 816,940 126,802 DUE TO CITY 889,061 31,805 DUE TO OTHER FUNDS 0 0 NOTES PAYABLE -CURRENT PORTION 0 0 BONDS PAYABLE -CURRENT PORTION 460,000 60,000 UNEARNED REVENUE 19,975 181,455 TOTAL CURRENT LIABILITIES 6,329,050 1,147,718 LONG TERM LIABILITIES OPEB LIABILITY 0 0 LFG PROJECT 0 0 DUE TO COUNTY 0 0 DUE TO CITY 0 0 BONDS PAYABLE, LESS CURRENT PORTION 28,250,285 1,560,837 PENSION LIABILITIES 2,720,477 500,450 TOTAL LONG TERM LIABILITIES 30,970,762 2,061,287 TOTAL LIABILITIES 37,299,812 3,209,005 DEFERRED INFLOWS OF RESOURCES 836,813 4,937,984 FUND EQUITY CAPITAL ACCOUNT CONST COST 1,779,016 0 CONTRIBUTED CAPITAL 0 0 RETAINED EARNINGS 46,802,217 33,120,013 NET INCOME (LOSS) (THROUGH PREVIOUS MONTH) 247,795 (141,784) TOTAL FUND EQUITY 48,929,028 32,978,229 TOTAL LIABILITIES & FUND EQUITY 86,965,653 41,125,219 50 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 LONGTERM 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 February 29, 2024 January 31, 2024 Current Month Change from 9,546,799 12,189,651 (2,642, 852) 2,917,927 2,376,861 541,066 1,228,587 1,191,395 37,192 237,881 271,218 (33,338) 1,065,513 615,556 449,958 14,996,707 16,644,680 (1,647,973) 1,779,016 1,779,016 0 2,959,556 2,955,798 3,758 4,738,571 4,734,814 3,758 824,065 824,065 0 2,305,024 2,305,024 0 49,436,721 49,317,397 119,324 24,501,072 24,310,102 190,971 77,066,882 76,756,588 310,294 (34,678,141) (34,458,423) (219,718) 42,388,741 42,298,165 90,576 21,546,212 21,546,212 0 6,223,278 6,223,278 0 (3,617,915) (3,562,237) (55,678) 24,151,576 24,207,254 (55,678) 690,058 690,058 0 86,965,653 88,574,971 (1,609,317) 4,144,074 5,553,112 (1,409,038) 816,940 794,961 21,979 888,061 1,017,961 (129,900) 460,000 955,000 (495,000) 19,975 21,972 (1,998) 6,329,050 8,343,007 (2,013,957) 28,250,285 28,255,273 (4,989) 2,720,477 2,720,477 0 30,970,762 30,975,750 (4,999) 37,299,812 39,318,757 (2,018,945) 836,813 836,813 0 1,779,016 1,779,016 0 46,802,217 46,802,217 0 247,795 (161,833) 409,628 48,829,028 48,419,400 409,628 86,965,653 88,574,971 (1,609,317) 51 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 February 29, 2024 January 31, 2024 Current Month Change from 9,319,821 9,521,252 (201,431) 5,326,401 5,417,084 (90,683) 15,041 15,799 (757) 56,003 48,754 7,249 2,196, 872 1,664,474 532,398 16,914,139 16,667,363 246,776 1,368,330 1,367,390 939 1,368,330 1,367,390 939 16,825,898 16,798,616 27,282 28,135,913 28,135,913 0 1,224,612 1,224,612 0 46,186,423 46,159,142 27,282 (23,469,984) (23,369,095) (100,889) 22,716,439 22,790,047 (73,608) 126,311 126,311 0 41,125,219 40,951,111 174,108 747,657 481,455 266,203 126,802 122,792 4,010 31,805 32,062 (258) 60,000 60,000 0 181,455 181,455 0 1,147,718 877,763 269,955 1,560,837 1,561,391 (554) 500,450 500,450 0 2,061,287 2,061,841 (554) 3,209,005 2,939,604 269,401 4,937,984 4,937,984 0 33,120,013 33,120,013 0 (141,794) (46,490) (95,293) 32,978,229 33,073,523 (95,293) 41,125,219 40,951,111 174,108 52 Electric 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 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 YTD 2024 YTD 2024 2023 2023 YTD 2023 v. 2024 Variance FEBRUARY YTD YTD Budget Bud Var% ANNUAL FEBRUARY YTD VARIANCE Actual Var% Item BUDGET Variance BUDGET 3,056,310 5,840,369 6,605,779 (765,410) (12) 42,685,299 3,209,179 6,014,747 (174,377) (3) 3221687 594,389 5441307 50,082 9 31514,568 318,858 5695192 25,197 4 205279 36,796 435435 (6,639) (15) 243,412 21,145 385195 (1,400) (4) 23,758 42,917 499908 (6,990) (14) 292,752 25,262 449972 (2,055) (5) 21,739 431407 439333 73 0 26000 211723 439446 (40) (0) 400 800 800 0 0 400 400 800 0 0 314451173 6,558,679 7,287,563 (728,884) (10) 47001831 3,596,567 61711 ,3 53 (152,674) (2) 3,791 51M36 14,167 _ 36,870 &W 2 8500 (966) 8,466 _ 42,570 (1) 2103 41,748 47,500 (5,752) (12) 28500 26,784 48,658 (6,910) (14) 21,466 112,851 22,500 T 90,351 402 135,000 10,026 16,301 96,550 (2) 53,064 132,970 1675667 (34,696) (21) 15016,000 63,754 1315066 1,904 1 (3) 9%924 33806 2519833 86,772 34 1,521,000 9%599 204,491 134,114 66 395451097 607,284 715391396 (642,112) (9) 489521,831 3,696,166 699151844 (18,560) (0) 210131383 4,232,380 4,906,193 (673,813) (14) 32,756,447 2,150,270 413651719 (133,339) (3) 231625 51,093 80,133 JR (29,041) (36) 3691000 2901 73,595 (22,502) (31) (4) 5,031 10,589 1200 (1,411) (12) 7200 4,191 %308 1,281 14 44,222 87,817 70,583 17,233 24 425,917 38,587 71,025 16,792 24 1761266 385,463 339,750 45,713 13 11668,500 119,331 258,644 126,819 (5) 2755396 549,491 517,936 31,555 6 35107,612 263,874 528,902 20,589 4 659175 131,587 1319587 0 0 785,810 68,225 1379649 (6,063) (4) 49921 %789 99350 439 5 506,900 4,255 81825 964 11 33,486 66,639 73,167 (6,528) (9) 43900 291352 611267 5,372 9 31%877 787,393 817,106 (29,713) (4) 4,2085492 288,778 774,529 1204 2 32,485 64,765 106,167 (41,402) (3 9) 6371000 32,175 72,308 (7,543) (10) (6) 2,9931868 6,37705 703,971 (686,965) (10) 44,9761679 3,028,897 6,3611771 15,234 0 122,954 235,016 264,231 (29,215) (11) 1,707412 138,520 263,747 (28,731) (11) 185647 37,468 4400 (6,532) (15) 264,000 19,234 3%647 (2,179) (5) 14101 272,484 3089231 (35,748) (12) 1,971,412 157,753 303,394 (30,910) (10) Net Income Profit(Loss) 4091628 247,795 1679194 8001 48 11573,740 50%515 2509679 (2,884) (1) Item Variance of +/- $25,000 and +/- 15% (1) YTD budget variance is due to conservative budgeted amount. PYTD variance is due to the change in Fair Market Value of Investments. (2) YTD budget and PYTD variance due to large a large connection agreement in January 2024. (3) YTD budget variance is mainly due to the budget amount for Contributions from Customers having an even budget spread. (4) YTD budget variance is mainly due to less than average labor expense for Mtce of Plant/Land Improvement. (5) PYTD variance is mainly due to increased tree trimming expense (contractors and ERMU labor), January 2024 labor expense for: Mtce of Substation Equipment, Electric Mapping, and Transportation Expense. (6) YTD variance is mainly due to timing of commercial rebates and the budget having an even spread. 53 Water 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 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 YTD 2024 YTD 2024 2023 2023 YTD 2023 v. 2024 Variance FEBRUARY YTD YTD Budget Bud Var% ANNUAL FEBRUARY YTD VARIANCE Actual Var% Item 160,586 296,224 250,313 45,911 2,788,003 154,346 288,712 7,513 3 (1) 1601586 296,224 2501313 45,911 18 21788,003 154,346 2881712 7,513 3 29960 161799 69917 9,882 143 41,500 799 41125 12,674 307 21637 504 41167 838 20 2500 1,026 21774 2,230 80 19,526 109,464 421500 66,964 158 25500 12,767 24,533 84,931 346 (2) 987 1,980 2,592 (611) (24) 618,786 2,140 3,115 (1,135) (36) 26,110 133,248 56,175 77,073 137 940,286 16,731 34,547 98,701 286 18606 4299472 306,488 122,984 40 3,728,289 171,077 323,259 1069213 33 101351 22,493 19,167 3,326 17 115,000 9,135 191734 2,759 14 371210 84,596 1071612 (23,016) (21) 645,671 461395 931692 (9,096) (10) (3) 391091 54,818 921897 (38,079) (41) 422,250 10,385 551542 (724) (1) (4) 1001889 201,632 1911500 10,132 5 11148,988 97,380 1941748 605 4 21912 5,825 51825 0 0 33,949 3,112 61225 (400) (6) 121 242 550 (308) (56) 82,300 105 360 (118) (33) 79373 14,506 151292 (785) (5) 91,750 69971 141307 200 1 839980 187,021 2109356 (23,335) (11) 19092,624 81,131 1879981 (961) (1) 63 123 29542 (2,418) (95) 15,250 1,028 1,534 (1,411) (92) 281,989 571,256 645,740 (74,484) (12) 3,647,782 255,642 574,122 (2,866) (0) 0 0 250 (250) (100) 1,500 0 0 0 0 Total Operating Transfer 0 0 250 (250) (100) 1,500 0 0 0 0 Net Income Profit(Loss) (95,293) (141,784) (339,501) 197,718 58 79,007 (84,564) (250,863) 109,079 43 Item Variance of +/- $15,000 and +/- 15% (1) YTD Budget variance is due to above average usage. (2) YTD budget and PYTD variance due to large 2 large connection agreements in January 2024. (3) YTD budget variance is mainly due to the budget amount for Electric & Gas Utilities having an even budget spread. (4) YTD budget variance is mainly due to the budget amount for Mtce of Water Mains having an even budget spread. 54 Elk River Municipal Utilities Monthly Electrical Demand 80.0 75.0 70.0 65.0 60.0 C 55.0 c� 0 50.0 45.0 40.0 35.0 mot �o� oaoj �o� oo� Job oo� Month -� --2023 2024 40,000 35,000 � 30,000 c can 25,000 c� a 20,000 L W 15,000 Elk River Municipal Utilities Monthly Energy Purchases �. op� � Q. S P"0 SIQ 11101 oo� �o� God Month ---2023 2024 55 Elk River Municipal Utilities Monthly Total Electric Load 35,000 33,000 31,000 29,000 27,000 c 25,000 J 23,000 •L 21,000 w 19,000 17,000 15,000 o�(2), mot mo' Job oo o� �o O Month -� --2023 2024 Elk River Municipal Utilities Monthly Electric Sales $5,000,000 $4,500,000 $4,000,000 L $3,500,000 % co � o $3,000,000 $2,500,000 CO $2,000,000 $1,500,000 $1,000,000 owe) �o� mob � Month 50� �° Oo -� --2023 2024 56 Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Loads 20,000 18,000 16,000 14,000 12,000 10,000 •� 8,000 c 6,000 J 4, 000 2, 000 eow •••0--,`` AL ' %% ••jow- "a-4f 01 ��� ��t� �'r �t� ��� ��o slam �5'� mot oNO mot �o� �.� opt � P � Pad' �o� poi. Job God Month --2023 Residential 2024 Residential 2023 Commercial 2024 Commercial ----2023 Industrial —2024 Industrial Elk River Municipal Utilities Monthly Residential, Commercial & Industrial Sales $2,500,000 $2,000,000 $1,500,000 0 0i000� % .� % % $1,000,000 CO $500,000 01 $0 �SGr ��� ��� ��o�o� o�o� �o� �o� oo� Job oo� �o Oo Month — �— 2023 Residential — — 2024 Residential 2023 Commercial --X— 2024 Commercial ----2023 Industrial —2024 Industrial ---CIE---�•• � 57 Elk River Municipal Utilities Monthly Water Pumpage 180.0 160.0 It / '♦♦ 140.0 / 0 120.0 / `�' C 100.0 a, 80.0 / E 60.0 a ® / 20.0 0.0 �� 6 t� o� ��� ��o �J�� �5'� mot o�mot �o� P�� �o� oo� Job God Month -� --2023 2024 Elk River Municipal Utilities Peak Day Pumpage 8.0 7.0 6.0 I � Cj 5.0 �- �♦ C O 4.0 2 / `I 3.0 / 2.0 / , a �� 1.0 0.0 Month -� --2023 2024 Ii Elk River Municipal Utilities Monthly Water Sales 180 $600,000 160 $500,000 140 120 $400,000 L 0 100 - 0 $300,000 C 80 N .0 a� 60 $200,000 v� CO 40 -- $100,000 20 0 $0 mot mot �o� �o� Month � 2023 MG 2024 MG -- -•2023 $ 2024$ i ♦ 59 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 Electric thliKU AK Y Y ID li U I.Juh l li U ljuh 1 Revenue Operating Revenue Elk River ELECT SALES - ELK RIVER RESID 1,206,187 2,221,212 21373,972 149221,539 ELECT SALES - ELK RIVER NON-D 314,130 55005 6031409 3,634,057 ELECT SALES - ELK RIVER DEMA 113801136 2,628,029 2,8321610 19,96505 PCA SALES REVENUE - ELK RIVE 53,243 146,981 2661133 1,485,155 PCA SALES REVENUE - ELK RIVE 15,268 409879 741689 4081036 PCA SALES REVENUE - ELK RIVE 87,344 252,580 454,964 2,970,644 Total For Elk River: 310565310 5,840,369 616051779 42,685,299 Otsego ELECT SALES - OTSEGO RESIDEN 138,412 24%404 2321876 1,438,521 ELECT SALES - OTSEGO NON-DEM 40,216 71,530 66,343 477,265 ELECT SALES - OTSEGO DEMAND 127,826 230,970 1711296 1,1549078 PCA SALES REVENUE - OTSEGO R 6,036 1508 291065 1629572 PCA SALES REVENUE - OTSEGO N 11984 5,146 10,924 58,535 PCA SALES REVENUE - OTSEGO D 85211 21,448 331800 223,596 Total For Otsego: 32206 594,389 5441307 31514,568 Rural Big Lake ELECT SALES - BIG LAKE RESIDE 1 %231 34,198 391211 21603 ELECT SALES - BIG LAKE NON -DE 180 343 330 4,737 PCA SALES REVENUE - BIG LAKE 862 2,240 3,802 21,268 PCA SALES REVENUE - BIG LAKE 4 12 89 522 Total For Rural Big Lake: 205279 36,795 431435 243,411 Dayton ELECT SALES - DAYTON RESIDEN 191198 33,925 381964 224,525 ELECT SALES - DAYTON NON -DE 3,564 6,439 61193 4109 PCA SALES REVENUE - DAYTON R 833 2,134 31969 22,385 PCA SALES REVENUE - DAYTON 159 417 780 4,231 Total For Dayton: 239757 42,917 499907 292,751 Public St & Hwy Lighting ELECT SALES - SEC LTS 21,738 439406 435333 26000 Total For Public St & Hwy Lighting: 211738 43,406 431333 26000 Other Electric Sales SUB -STATION CREDIT 400 800 800 41800 60 YTD 2023 v. 2024 (6) 1,229,836 212995334 (78,122) (3) (9) 315,395 5881687 (38,001) (6) (7) 1,383,186 2,6731376 (45,346) (2) (45) 96,231 1531762 (6,780) (4) (45) 271077 43,165 (2,285) (5) (44) 157,452 2561421 (31841) (1) (12) 3,209,179 6,0141746 (1745377) (3) 7 135,325 2461219 3,184 1 8 39,042 691094 2,436 4 35 117,233 2121075 18,895 9 (45) 101425 165255 (367) (2) (53) 3,408 51180 (33) (1) (37) 13,424 201367 101 5 9 3181858 5691192 25,197 4 (13) 19,419 351442 (1,243) (4) 4 180 334 9 3 (41) 1,536 25406 (165) (7) (86) 8 12 0 0 (15) 21,144 381195 (1,399) (4) (13) 2001 361187 (2,262) (6) 4 3,371 51995 444 7 (46) 1,545 2,390 (256) (11) (46) 263 398 19 5 (14) 25,261 441972 (29054) (5) 0 21,723 435446 (39) 0 0 21,723 431446 (39) 0 0 400 800 0 0 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Total For Other Electric Sales: 400 800 800 400 0 400 800 0 0 Total Operating Revenue 314455172 6,558,678 712871562 475000,831 (10) 3,596,567 617111353 (1525674) (2) Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME 3,790 51 M36 141166 8500 260 (966) 81466 42,569 503 Total For Interest/Dividend Income: 3,790 51 M36 141166 8500 260 (966) 81466 42,569 503 Customer Penalties CUSTOMER DELINQUENT PENALT 21,602 41,748 47,500 28500 (12) 26,784 481657 (6,909) (14) Total For Customer Penalties: 219602 411748 475500 28500 (12) 26,784 489657 (6,909) (14) Connection Fees DISCONNECT & RECONNECT CHA 211466 112,851 22,500 13500 402 10,026 161301 96,549 592 Total For Connection Fees: 211466 1121851 221500 13500 402 10,026 161301 96,549 592 Misc Revenue MISC ELEC REVENUE - TEMP CHG 0 440 833 500 (47) 0 11070 (630) (59) STREET LIGHT 0 121600 0 101000 0 0 0 12,600 0 TRANSMISSION INVESTMENTS 45,386 1011283 1111000 66600 (9) 49,982 1061682 (59398) (5) MISC NON -UTILITY 7,677 18,646 181333 11000 2 13,772 235313 (4,667) (20) CONTRIBUTIONS FROM CUSTOME 0 0 371500 22500 (100) 0 0 0 0 Total For Misc Revenue: 531064 1321970 1671666 1,016,000 (21) 63,754 1311066 1,904 1 Total Other Revenue 99,924 33805 251,833 1,521,000 34 99,598 2041491 134,114 66 Total For Total Other Revenue: 999924 3381605 251,833 195211000 34 99,598 2049491 134,114 66 Total Revenue 31545,096 6,897,284 71539,396 48,521,831 (9) 306,165 619151844 (18,560) 0 Expenses Purchased Power PURCHASED POWER 11497,707 3,207,629 3,511,526 24,250,423 (9) 1,583,719 3,279,354 (71,725) (2) ENERGY ADJUSTMENT CLAUSE 5159674 1,024,750 113941666 855061023 (27) 566,550 110869364 (61,613) (6) Total For Purchased Power: 250131382 4,2321)380 4,906,192 329756,447 (14) 2J50,269 413655719 (133,339) (3) Operating & Mtce Expense OPERATING SUPERVISION 119749 23,192 211833 131 NO 6 9,551 199962 3,230 16 DIESEL OIL FUEL 0 0 106 1000 (100) 1,360 102 (1,862) (100) NATURAL GAS 207 7,772 1300 3300 (40) 5,863 12,596 (4,823) (38) ELECTRIC & WATER CONSUMPTI 4,787 111531 13,800 6600 (16) 3,040 71335 4,196 57 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% PLANT SUPPLIES & OTHER EXPEN 861 2,820 21500 1500 13 688 7,031 (4,210) (60) MISC POWER GENERATION EXPE 345 485 11333 8,000 (64) 417 1,061 (576) (54) MAINTENANCE OF STRUCTURE - 519 1,311 31500 21,000 (63) 1,117 41078 (29766) (68) MTCE OF PLANT ENGINES/GENER 513 1,065 61500 39,000 (84) 3,633 51351 (4,285) (80) MTCE OF PLANT/LAND IMPROVE 11961 2,912 169000 46,000 (82) 4,188 149314 (11,402) (80) Total For Operating & Mtce Expense: 231625 51,092 809133 36900 (36) 291)861 739594 (22,502) (31) Transmission Expense TRANSMISSION MTCE AND EXPE 51030 10,589 121000 7200 (12) 41)190 91308 11)280 14 Total For Transmission Expense: 59030 10,589 121000 7200 (12) 41)190 99308 1,280 14 Distribution Expense REMOVE EXISTING SERVICE & M 0 0 333 200 (100) 0 0 0 0 SCADA EXPENSE 21912 504 75500 4500 (22) 2,747 55621 243 4 TRANSFORMER EXPENSE OH & U 21813 3,845 21500 15,000 54 2,428 31506 339 10 MTCE OF SIGNAL SYSTEMS 59 199 500 3,000 (60) 338 338 (139) (41) METER EXPENSE - REMOVE & RE 0 241 250 1,500 (4) 0 0 241 0 TEMP SERVICE - INSTALL & REM 109 109 11166 7,000 (91) 93 93 16 18 MISC DISTRIBUTION EXPENSE 381326 77,556 581333 350,000 33 32,979 611465 16,090 26 INTERCONNECTION CARRYING C 0 0 0 2,417 0 0 0 0 0 Total For Distribution Expense: 441222 87,816 701583 425,917 24 38,586 711025 16,791 24 Maintenance Expense MTCE OF STRUCTURES 61117 10,842 8,333 50,000 30 6,764 7,835 3,006 38 MTCE OF SUBSTATIONS 29500 6,402 61000 3600 7 2,973 95676 (3,273) (34) MTCE OF SUBSTATION EQUIPME 65156 22,215 131166 79,000 69 2,632 41231 17,984 425 MTCE OF OH LINES/TREE TRIM 671948 136,187 1001000 230,000 36 34,248 761473 59,714 78 MTCE OF OH LINES/STANDBY 31244 7,180 61666 40,000 8 3,177 51911 1,269 21 MTCE OF OH PRIMARY 81616 24,036 289333 170,000 (15) 7,656 179843 6,193 35 MTCE OF URD PRIMARY 9,619 1,369 361666 22000 (96) 605 15,458 (14,089) (91) LOCATE ELECTRIC LINES 51835 9,315 181333 11000 (49) 1,063 21479 6,836 276 LOCATE FIBER LINES 105 105 250 1,500 (58) 33 33 71 209 MTCE OF LINE TRANSFORMERS 21459 41884 109000 601000 (51) 661 29016 207 142 MTCE OF STREET LIGHTING 41395 12,896 81333 5000 55 (3,528) 15331 11,564 868 MTCE OF SECURITY LIGHTING 21228 400 21500 15,000 60 781 21456 1,543 63 MTCE OF METERS 6,750 1307 131333 8000 4 304 101552 3,314 31 VOLTAGE COMPLAINTS 0 0 21000 1200 (100) 1,455 21747 (2,747) (100) SALARIES TRANSMISSION & DIST 2,555 5,160 500 30,000 3 2,187 4,585 574 13 62 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% ELECTRIC MAPPING 221377 53,356 161666 10000 220 17,573 36,982 161374 44 MTCE OF OH SECONDARY 997 2,407 41166 25,000 (42) 1,224 3,306 (899) (27) MTCE OF URD SECONDARY 21484 6,194 101000 6000 (38) 1,010 41763 1,431 30 TRANSPORTATION EXPENSE 211872 65,039 501000 300,000 30 2804 491958 15,081 30 Total For Maintenance Expense: 176,265 385,462 3391750 11668,500 13 119,330 2581644 126,818 49 Depreciation & Amortization DEPRECIATION 219,718 438,135 406,580 2,439,475 8 208,195 417,546 20,589 5 AMORTIZATION 551677 111,355 1111356 668,136 0 551)677 1111355 0 0 Total For Depreciation & Amortization: 2759395 549,491 5171936 39107,611 6 2631)873 5289902 20,589 4 Interest Expense INTEREST EXPENSE - BONDS 701163 141,563 141,563 845,673 0 73,213 1471626 (6,062) (4) AMORTIZATION OF DEBT DISCOU (4,988) (9,977) (9,977) (59,863) 0 (4,988) (9,977) 0 0 Total For Interest Expense: 651174 131,586 1311586 785,810 0 68,224 1371649 (6,062) (4) Other Operating Expense EV CHARGING EXPENSE 199 406 516 3,100 (21) 342 631 (224) (3 6) LOSS ON DISPOSITION OF PROP (C 0 0 0 15500 0 0 0 0 0 OTHER DONATIONS 0 0 500 3,000 (100) 0 0 0 0 PENSION EXPENSE 0 0 0 29500 0 0 0 0 0 OTHER INTEREST EXPENSE 0 0 0 0 0 0 378 (378) (100) INTEREST EXPENSE - METER DEP 41721 9,382 81333 50,000 13 3,912 71815 1,566 20 Total For Other Operating Expense: 4,921 9,788 9,350 506,900 5 4,255 8,824 964 11 Customer Accounts Expense METER READING EXPENSE 21986 6,659 71833 47,000 (15) 3,068 51915 743 13 DISCONNECT/RECONNECT EXPEN 530 1,871 31666 22,000 (49) 1,313 21577 (705) (27) MISC CUSTOMER ACCOUNTS EXP 281322 55,220 579500 34500 (4) 241937 529654 2,565 5 BAD DEBT EXPENSE & RECOVER 11646 207 41166 2500 (31) 31 119 2,768 2,307 Total For Customer Accounts Expense: 331486 66,638 731166 439,000 (9) 29,351 611266 5,372 9 Administrative Expense SALARIES OFFICE & COMMISSION 729274 147,552 1511333 908,000 (2) 62,269 129,674 17,878 14 TEMPORARY STAFFING 0 0 666 41000 (100) 0 0 0 0 OFFICE SUPPLIES 121382 16,940 201833 125,000 (19) 17,047 271855 (10,914) (39) ELECTRIC & WATER CONSUMPTI 11997 4,144 69666 4000 (38) 5,199 119394 (7,249) (64) BANK FEES 182 317 416 2,500 (24) 182 319 (1) 0 LEGAL FEES 648 1,912 5,000 30,000 (62) 1,302 302 (1,750) (48) AUDITING FEES 11640 3,280 31666 22,000 (11) 1,623 31246 33 1 a ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric INSURANCE UTILITY SHARE - DEFERRED COM UTILITY SHARE - MEDICAL/DENT UTILITY SHARE - PERA UTILITY SHARE - FICA EMPLOYEE SICK PAY EMPLOYEE HOLIDAY PAY EMPLOYEE VACATION & PTO PA UPMIC DISTRIBUTION LONGEVITY PAY CONSULTING FEES TELEPHONE ADVERTISING DUES & SUBSCRIPTIONS - FEES SCHOOLS & MEETINGS MTCE OF GENERAL PLANT & OFFI Total For Administrative Expense: General Expense CIP REBATES - RESIDENTIAL CIP REBATES - COMMERCIAL CIP - ADMINISTRATION CIP - MARKETING CIP - LABOR CIP REBATES - LOW INCOME CIP - LOW INCOME LABOR ENVIRONMENTAL COMPLIANCE MISC GENERAL EXPENSE Total For General Expense: Total Expenses(before Operating Transfers) Operating Transfer Operating Transfer/Other Funds TRANSFER TO CITY ELK RIVER R Total For Operating Transfer/Other Funds: Utilities & Labor Donated 159648 32,937 201000 120,000 65 14,362 34,528 (1,591) (5) 591894 246,428 2461818 87000 0 52,706 2411945 4,483 2 231622 49,743 501333 302,000 (1) 21,509 451039 4,704 10 221861 48,113 499166 295,000 (2) 20,531 439109 503 12 121877 9,740 27,500 165,000 (65) 12,019 429506 (32,766) (77) 151170 4503 46,909 172,000 (2) 13,835 43,372 2,490 6 221596 72,153 621272 275,000 16 19,634 631749 8,404 13 0 0 0 10100 0 0 0 0 0 0 0 0 6,964 0 0 0 0 0 71684 9,717 161266 9700 (40) 0 0 9,717 0 21919 5,831 61333 38,000 (8) 2,836 61331 (500) (8) 11396 3,028 39166 19,000 (4) 1,272 29553 474 19 7,099 14,591 22,922 1379533 (36) 91449 191334 (41742) (25) 221401 42,258 431000 274,894 (2) 15,636 211186 21,071 99 845 1,690 21166 13,000 (22) 1,002 21005 (315) (16) 3191877 787,392 8171105 4,208,492 (4) 288,777 7741528 1204 2 6,445 13,470 151126 90,758 (11) 4,395 61950 6,520 94 0 0 189666 112,000 (100) 10,413 219393 (21,393) (100) 101000 2000 305494 1829965 (34) 11069 19572 18,427 11172 41813 5,627 81539 51,235 (34) 1,394 51975 (347) (6) 71973 19,023 221303 133,822 (15) 11,510 231798 (45775) (20) 0 0 3,120 18,720 (100) 0 0 0 0 723 1,587 15666 109000 (5) 815 15637 (50) (3) 21533 501 51833 35,000 (13) 2,576 51154 (73) (1) 321485 64,765 1061166 63700 (39) 32,174 721308 219931867 6,377,005 710631970 445976,678 (10) 3,028,896 6,3611771 (7,543) (10) 15,233 0 122,954 235,015 2641231 1,707,411 (11) 138,519 2631747 (28,731) (11) 1221954 235,015 264,231 1,707,411 (11) 138,519 263,747 (28,731) (11) 64 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Electric FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% UTILITIES & LABOR DONATED TO 181646 37,467 441000 26400 (15) 19,233 39,646 (2,178) (5) Total For Utilities & Labor Donated: 189646 37,467 441000 2641)000 (15) 19,233 399646 (2,178) (5) Total Operating Transfer Total For Total Operating Transfer: 1411601 272,483 3081231 1,971,411 (12) 157,753 3031393 (30,910) (10) Net Income Profit(Loss) 4091627 247,795 1671194 1,573,740 48 509,515 2501679 (2,883) (1) il ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water Revenue Operating Revenue Water Sales WATER SALES RESIDENTIAL WATER SALES COMMERCIAL WATER SALES IRRIGATION Total For Water Sales: Total Operating Revenue Total For Total Operating Revenue: Other Operating Revenue Interest/Dividend Income INTEREST & DIVIDEND INCOME OTHER INTEREST/MISC REVENUE Total For Interest/Dividend Income: Customer Penalties CUSTOMER PENALTIES Total For Customer Penalties: Connection Fees WATER/ACCESS/CONNECTION FE CUSTOMER CONNECTION FEES BULK WATER SALES/HYDRANT R Total For Connection Fees: Misc Revenue MISC NON -UTILITY TRANSFER IN FROM CITY MISCELLANEOUS REVENUE HYDRANT MAINTENANCE PROGR CONTRIBUTIONS FROM DEVELOP WATER TOWER LEASE Total For Misc Revenue: Total Other Revenue Total For Total Other Revenue: 97,469 184,951 157,790 19595,403 17 94,370 1805035 4,916 3 61,311 107,833 891778 923,908 20 58,377 1051515 2,318 2 11804 3,439 21744 268,691 25 1,597 31161 278 9 160,586 296,224 250,313 2,78803 18 154,345 2881711 7,512 3 1605586 296,224 2501313 2178803 18 154,345 2881711 7,512 3 1601586 296,224 250,313 2178803 18 154,345 2881711 7,512 3 2,959 16,799 606 4000 152 798 41125 12,673 307 0 0 250 1,500 (100) 0 0 0 0 21959 16,799 6,916 41,500 143 798 45125 12,673 307 21637 51004 41166 251000 20 1,025 29774 2,230 80 2,637 504 45166 2500 20 1,025 25774 29230 80 185000 96,149 331333 20000 188 31)600 149400 811)749 568 1,526 51291 500 301000 6 322 11288 403 311 0 8,022 41166 2500 93 8,844 81844 (822) (9) 195526 109,463 421500 25500 158 12,766 241532 84,931 346 0 20 8 50 150 0 0 20 0 0 0 0 23000 0 0 0 0 0 0 0 83 500 (100) 258 258 (258) (100) 986 11960 2,500 151000 (22) 11881 21856 (896) (31) 0 0 0 6500 0 0 0 0 0 26,109 133,247 561175 940,286 137 16,731 341547 98,700 286 66 ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY YTD VARIANCE Actual Var% Total Revenue 186,695 429,472 3061488 3,728,289 40 171,077 323,258 1061213 33 Expenses Production Expense MTCE OF STRUCTURES 109351 221492 191166 1151000 17 9,134 191733 2,759 14 Total For Production Expense: 10,351 22,492 195166 11500 17 9,134 195733 2,759 14 Pumping Expense SUPERVISION 49353 10,540 111250 67,500 (6) 59238 101849 (309) (3) ELECTRIC & GAS UTILITIES 17,194 371332 5501 3359171 (33) 209673 441952 (71620) (17) SAMPLING 714 2,490 21833 1700 (12) 888 21544 (54) (2) CHEMICAL FEED 15788 4,027 81833 5300 (54) 982 31423 604 18 MTCE OF WELLS 12,934 299666 271500 1651000 8 18,334 311352 (1,686) (5) SCADA - PUMPING 223 538 11333 8,000 (60) 277 568 (30) (5) Total For Pumping Expense: 37,209 849596 107,611 6459671 (21) 46,394 931691 (9,095) (10) Distribution Expense MTCE OF WATER MAINS 19857 49260 29,166 17500 (85) 39969 249673 (209412) (83) LOCATE WATER LINES 929 1,438 21875 17,250 (50) 85 171 1,267 737 MTCE OF WATER SERVICES 0 0 83 500 (100) 147 147 (147) (100) WATER METER SERVICE 819 49783 111000 66,000 (57) 725 11737 3,046 175 BACKFLOW DEVICE INSPECTION 19419 29680 21522 209000 6 19157 39294 (614) (19) MTCE OF CUSTOMERS SERVICE 2,557 5,497 5,500 3300 0 2,565 5,017 480 10 WATER MAPPING 206 4,430 2,500 1500 77 1,135 1,578 2,852 181 MTCE OF WATER HYDRANTS - PU 430 969 31333 201000 (71) 29 992 (22) (2) MTCE OF WATER HYDRANTS - PR 609 609 11000 600 (39) (313) (73) 682 936 WATER CLOTHING/PPE 0 399 11666 1000 (76) 0 31 367 11147 WAGES WATER 673 1,338 1,250 7,500 7 576 11198 139 12 TRANSPORTATION EXPENSE 672 2,153 41000 249000 (46) 306 19364 788 58 WATER PERMIT 26,255 261255 2800 289000 (6) 0 151407 1047 70 Total For Distribution Expense: 399091 54,817 92,897 4221250 (41) 10,385 551542 (724) (1) Depreciation & Amortization DEPRECIATION 1009889 2019632 191,500 19148,987 5 97,379 1949747 6,884 4 Total For Depreciation & Amortization: 1009889 2019632 1911500 1,148,987 5 97,379 1949747 604 4 Interest Expense INTEREST EXPENSE - BONDS 39466 69933 61933 409600 0 306 71333 (399) (5) AMORTIZATION OF DEBT DISCOU (554) (1,108) (1,108) (6,651) 0 (554) (1,108) 0 0 Total For Interest Expense: 2,912 51824 5,824 33,949 0 3,112 61224 (399) (6) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water FEBRUARY YTD BUDGET BUDGET Bud Var% FEBRUARY 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 0 333 2,000 (100) 0 55 (55) (100) PENSION EXPENSE 0 0 0 65,000 0 0 0 0 0 OTHER INTEREST EXPENSE 0 0 0 0 0 0 94 (94) (100) INTEREST EXPENSE - METER DEP 120 241 216 1,300 12 104 209 32 15 Total For Other Operating Expense: 120 241 550 82,300 (56) 104 359 (117) (33) Customer Accounts Expense METER READING EXPENSE 153 344 416 2,500 (18) 159 307 36 12 MISC CUSTOMER ACCOUNTS EXP 79218 141161 149833 891000 (5) 6,810 139999 162 1 BAD DEBT EXPENSE & RECOVER 0 0 41 250 (100) 0 0 0 0 Total For Customer Accounts Expense: 71372 14,506 151291 91,750 (5) 6,970 141306 199 1 Administrative Expense SALARIES OFFICE & COMMISSION 21,292 43,173 471500 28500 (9) 17,944 37,441 5,731 15 TEMPORARY STAFFING 0 0 166 1,000 (100) 0 0 0 0 OFFICE SUPPLIES 21256 3,331 61166 37,000 (46) 1,789 31589 (258) (7) ELECTRIC & WATER CONSUMPTI 499 11036 19833 111000 (43) 975 29120 (11084) (51) BANK FEES 51 85 100 600 (14) 51 86 0 0 LEGAL FEES 162 449 11500 9,000 (70) 325 915 (466) (51) AUDITING FEES 410 820 11000 6,000 (18) 405 811 8 1 INSURANCE 31540 700 71166 4300 (2) 3,016 61032 968 16 UTILITY SHARE - DEFERRED COM 2,167 4,367 3,500 21,000 25 2,179 5,060 (692) (14) UTILITY SHARE - MEDICAL/DENT 141703 54,651 561363 220,000 (3) 13,678 591752 (5,100) (9) UTILITY SHARE - PERA 41581 9,523 91333 56,000 2 4,078 81604 919 11 UTILITY SHARE - FICA 41506 9,304 99000 5400 3 31860 81189 1,115 14 EMPLOYEE SICK PAY 11949 3,905 41833 2900 (19) 2,015 61859 (2,953) (43) EMPLOYEE HOLIDAY PAY 21908 7,401 8,727 32,000 (15) 2,841 71076 325 5 EMPLOYEE VACATION & PTO PA 3,788 14,066 121000 52,000 17 3,403 12,472 1,593 13 UPMIC DISTRIBUTION 0 0 0 21,000 0 0 0 0 0 WELLHEAD PROTECTION 0 0 340 2,000 (100) 0 0 0 0 LONGEVITY PAY 0 0 0 837 0 0 0 0 0 CONSULTING FEES 21066 2,574 71650 45,900 (66) 4,070 41070 (11495) (37) TELEPHONE 704 1,417 11500 9,000 (5) 633 11429 (11) (1) ADVERTISING 349 757 833 500 (9) 318 638 118 19 DUES & SUBSCRIPTIONS - FEES 151329 16,196 201100 88,114 (19) 15,747 171029 (833) (5) ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING FEBRUARY 2024 2024 2024 2024 2024 YTD ANNUAL 2024 YTD 2023 2023 YTD 2023 v. 2024 Water SCHOOLS & MEETINGS MTCE OF GENERAL PLANT & OFFI Total For Administrative Expense: General Expense CIP REBATES - RESIDENTIAL CIP REBATES - COMMERCIAL CIP - MARKETING CIP - LABOR ENVIRONMENTAL COMPLIANCE MISC GENERAL EXPENSE Total For General Expense: Total Expenses(before Operating Transfers) Operating Transfer Utilities & Labor Donated WATER & LABOR DONATED TO CI Total Operating Transfer Total For Total Operating Transfer: Net Income Profit(Loss) 21500 6,535 101225 61,072 (36) 3,546 5,301 11234 23 211 422 516 3,100 (18) 250 501 (79) (16) 831979 187,020 2101355 19092,623 (11) 81,131 1871981 (960) (1) 25 25 833 500 (97) 0 45 (20) (44) 0 0 83 500 (100) 0 0 0 0 0 0 333 200 (100) 588 588 (588) (100) 0 0 833 500 (100) 388 797 (797) (100) 37 98 416 2,500 (76) 51 105 (7) (8) 0 0 41 250 (100) 0 (2) 2 100 62 123 21541 15,250 (95) 1,027 11533 (1,410) (92) 2811989 571,255 6451739 3,647,781 (12) 255,641 5741121 (2,865) 0 0 0 250 1,500 (100) 0 0 0 0 0 0 250 1,500 (100) 0 0 0 0 (95,293) (141,783) (339,501) 791007 58 (84,564) (250,862) 109,079 43 Beginning Fiscal Period [YYYYMN4,1 GLDivision 202401 61 - Elk River Electric All Ending Fiscal Pleriod[YYYYMM] GL Activity 2024412 All Closed Period Bu(Iget Revenue Comparison & Variance Budget Expense Comparison & Variance Budget Analysis by Period Jan, 2024 - Feb. 2024 Jan, 2024 - Feb, 2024 Jon, 2024 - Feb, 2024, -$642,111.71 474713.00- SWK -8,52% -9.80% MOK Actual Budget Actual 19 udget 220K $6,897,284.32 $7,539,396M $6.649,488,96 $7,372,201.95 SOK .eOK -200K GL Department Period Type 41 �9r' Period Revenue Budget vs Actual by Period Expense Budget vs Actual by Period Jan, 2024 - Feb, 2024 Jan, 2024 - Feb, 2024 4,5M 4M 4M 3.5M 3.15M 3M 3M ZIM 2.5M 2 2M M 115M IM IM O.5M O.5M 0 0 I ID �vlwl A%ml 41 YP' Period M 41UM 40 Culh UL111YO BLXJWRfl 45 UlMuLhImMoual 70 Beginning Fiscal Period [YYYYMN4,1 GLDivision GL Depar-Imerit 2024@1 6 2 - Elk RiverVoater All Ending Fiscal Pleriod[YYYYMM] GL Activity Period Type 2024412 All Closed Period Bu(Iget Revenue Comparison & Variance Budget Expense Comparison & Variance Budget Analysis by Period Jan, 2024 - Feb. 2024 Jan, 2024 - Feb, 2024 Jan, 2024 - Feb, 2024. $122,983.98 -$74,733.80 0 40.13% -11.57% -SOK Actual Budget Actual Budget •1eOK .240K $429,472.22 $306,408.24 $571,258.81 $645,989.61 -320K -400K 40 CwIhUWIIYIt BLXJWRfl 41 45 Period Revenue Budget vs Actual by Period Ex B d t vs Actua I by Period TPT Jan, 2024 - Feb, 2024 Jan, e 2024 MK 400K 240K i 3WK 200K 3XK 250K I SOK 200K 120K 150K SOK IDOK 40K 50K PwlOd Period 0 Dudwl M Ok-un] 71