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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> SUPPLEMENTAL INFORMATION
<br /> ELECTRIC FUND
<br /> SUMMARY OF OPERATIONS AND UNAUDITED STATISTICS
<br /> FOR THE YEARS ENDED DECEMBER 31, 1998 THROUGH DECEMBER 31,2003
<br /> SUMMARY OF OPERATIONS
<br /> 2003 2002 2001
<br /> OPERATING REVENUE
<br /> Sales of electricity $ 12,697,258 $ 10,783,277 $ 9,602,678
<br /> Other operating revenue 299,695 343,087 369,505
<br /> TOTAL OPERATING REVENUE 12,996,953 11,126,364 9,972,183
<br /> OPERATING EXPENSES
<br /> Purchased power 7,786,921 6,849,629 6,035,913
<br /> Distribution 829,051 667,038 609,098
<br /> Services to the City 265,234 238,372 227,266
<br /> Depreciation 1,067,063 969,913 902,407
<br /> Other operating expenses 1,915,081 1,477,574 1,241,722
<br /> TOTAL OPERATING EXPENSES 11,863,350 10,202,526 9,016,406
<br /> OPERATING INCOME 1,133,603 923,838 955,777
<br /> TRANSFERS FROM OTHER FUNDS - 50,000 -
<br /> TRANSFERS TO OTHER FUNDS (317,918) (289,264) (252,497)
<br /> NON-OPERATING REVENUE 766,285 917,373 790,147
<br /> NET INCOME $ 1,581,970 $ 1,601,947 $ 1,493,427
<br /> PERCENT OF CHANGE
<br /> Sales of electricity 17.75% 12.29% 6.27%
<br /> Purchased power 13.68% 13.48% 9.79%
<br /> PERCENT OF REVENUE
<br /> Purchased power 59.913% 61.562% 60.527%
<br /> UNAUDITED STATISTICS
<br /> MISCELLANEOUS
<br /> 2003 2002 2001
<br /> KWH's purchased 170,092,937 157,594,270 145,172,123
<br /> KWH's sold 161,852,054 149,787,670 138,473,405
<br /> Line loss 8,240,883 7,806,600 6,698,718
<br /> Percent of line loss 4.845% 4.954% 4.614%
<br /> REVENUE PER KWH SOLD $ 0.0784 $ 0.0720 $ 0.0693
<br /> COST PER KWH PURCHASED $ 0.0458 $ 0.0435 $ 0.0416
<br /> NUMBER OF CUSTOMERS 7,376 7,002 6,799
<br /> TOTAL CONTRIBUTION/TRANSFERS TO CITY $ 387,852 $ 527,636 $ 479,763
<br /> -31-
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