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5.2e EMRUSR 07-09-2024
ELK RIVER MUNICIPAL UTILITIES ELK RIVER, MINNESOTA STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR PERIOD ENDING MAY 2024 2024 2024 2024 YTD 2024 YTD 2024 2023 2023 YTD 2023 v. 2024 Variance MAY YTD YTD Budget Bud Var% ANNUAL MAY YTD VARIANCE Actual Var% Item Water BUDGET Variance BUDGET Revenue Operating Revenue Water Sales 193,866 779,491 656,661 122,830 - 2,788,003 158,173 723,373 56,119 8% (1) Total Operating Revenue 193,866 779,491 656,661 122,830 19% 2,788,003 158,173 723,373 56,119 8% Other Operating Revenue Interest/DividendIncome 6,875 25,922 17,292 8,630 50% 41,500 1,090 14,103 11,819 84% Customer Penalties 2,254 8,792 10,417 (1,624) -16% 25,000 1,188 6,148 2,644 43% Connection Fees 11,740 186,960 106,250 80,710 - 255,000 32,540 93,916 (2) Misc Revenue 975 5,721 6,479 (758) -12% 618,786 975 6,060 (339) -6% Total Other Revenue 21,845 227,395 140,438 86,957 62% 940,286 35,793 120,227 107,168 89% Total Revenue 215,710 1,006,886 797,098 209,788 26% 3,728,289 193,966 843,599 163,287 19% Expenses Production Expense 14,016 56,845 47,917 8,928 19% 115,000 11,255 48,407 8,438 17% Pumping Expense 33,222 216,271 269,030 645,671 57,122 234,201 (17,930) -8% (3) Distribution Expense 37,450 150,966 191,460 422,250 31,883 150,525 441 0% (4) Depreciation & Amortization 100,651 503,890 478,750 25,140 5% 1,148,988 97,652 487,424 16,466 3% Interest Expense 2,912 14,562 14,562 0 0% 33,949 3,112 15,562 (1,000) -6% Other Operating Expense 80 563 1,375 (812) -59% 82,300 253 2,308 (1,745) -76% Customer Accounts Expense 8,608 37,952 38,229 (277) -1% 91,750 7,134 36,723 1,229 3% Administrative Expense 89,594 424,138 472,386 (48,247) -10% 1,092,624 91,526 424,186 (48) 0% General Expense 324 1,296 6,354 (5,058) -80% 15,250 232 3,389 (2,093) -62% Total Expenses(before Operating Transfers) 286,856 1,406,485 1,520,062 (113,578) -7% 3,647,782 300,170 1,402,726 3,758 0% Operating Transfer Utilities & Labor Donated 0 0 625 (625) -100% 1,500 0 0 0 0% Total Operating Transfer 0 0 625 (625) -100% 1,500 0 0 0 0% Net IncomeProrit(Loss) (71,145) (399,598) (723,589) 323,991 45% 79,007 (106,204) (559,127) 159,528 29% 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 Electric usage being lower at Well 7 and Well 9 due to maintenance issues. (4) YTD budget variance is mainly due to the budget amount for Mtee of Water Mains having an even budget spread. W.