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>itElk River <br /> Municipal Utilities <br /> 13069 Orono Parkway phone: 763.441.2020 <br /> Elk River. MN 55330 Fax.763.441-8099 <br /> November 2, 2004 <br /> To: Elk River Municipal Utilities Commission <br /> Jerry Takle <br /> Jim Tralle <br /> John Dietz <br /> From: Bryan Adams <br /> Subject: Electric & Water Financial Projections <br /> Twice annually we update our electric and water financial projections to ensure we have <br /> the necessary financial resources. These times are year end after the audit and during the <br /> budget process. Attached arc the water and electric department "Springstad" financial <br /> projections. These projections reflect 2005 budget assumptions. <br /> In summary, these financial projections reflect similar results as previous years. We <br /> continue to have adequate financial reserves with the assumptions made. The reserve <br /> dollars are a little higher in the latter years than previously indicated. This may be due to <br /> some of the sales quantities, rates and expenses, assumption and the compounding effect. <br />