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ELK RIVER MUNICIPAL UTILITIES <br /> SUMMARY OF YEAR 2015 <br /> BUDGETS <br /> ELECTRIC BUDGET SUMMARY 2015 <br /> ELECTRIC REVENUE $ 32,458,403 <br /> ELECTRIC EXPENDITURES (32,082,902) <br /> ELECTRIC NET FOR CAPITAL 375,501 1.16% <br /> DEBT RETIREMENT (672,000) <br /> PROMISSORY NOTE TO COUNTY (191,508) <br /> LESS DEBT PRINCIPAL PMTS (488,007) <br /> CAPITAL EQUIPMENT/CONSTRUCTION (3,040,884) <br /> FUND FROM RESERVES 1,240,000 <br /> BOND REFUNDING <br /> NET (2,288,891) <br /> DEPRECIATION 2,300,000 <br /> NET TO RESERVES 11,109 <br /> WATER BUDGET SUMMARY 2015 <br /> WATER REVENUE $ 2,503,956 <br /> WATER EXPENDITURES (2,541,030) <br /> WATER NET FOR CAPITAL (37,075) -1.48% <br /> DEBT RETIREMENT (258,000) <br /> GROSS (295,075) <br /> CAPITAL PROJECTS (721,483) <br /> FUND FROM RESERVES <br /> FUND FROM CITY TRUNK FUND 60,000 <br /> BONDING - <br /> NET (956,558) <br /> DEPRECIATION 1,130,000 <br /> NET TO RESERVES 173,442 <br /> Currently,target reserves are met.Drawndown is from unrestriced reserves above target levels. <br /> 2015 BUDGET SUMMARY2015 <br /> 70 <br />