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Elk River Municipal Utilities- Reserves Policy 4/2015 Proposed <br /> ERMU Electric Fund-61 <br /> Description Annual Average Monthly <br /> 2015 Budgeted Expenditures $ 32,134,656 $ 2,677,888 <br /> 2015 Budgeted Interest Expense $ 136,360 $ 11,363 <br /> 2015 Budgeted Depreciation $ 2,300,000 $ 191,667 <br /> 2015 Budgeted Purchased Power Cost $ 22,577,733 $ 1,881,478 <br /> 2015 Budgeted Pricipal and Interest $ 999,868 n/a <br /> 2014 Peak Monthly Purchased Power Cost $ 2,452,877 $ 1,831,757 <br /> 12015 Reserves 2014 Reserves <br /> 12014 Audited Cash Balances $ 12,097,110 $ 12,057,293 <br /> Unrestricted 2015 Calculated Reserves $ 6,441,627 1$ 5,975,622 1 <br /> Designated 2015 Proposed Calculated Reserves $ 6,441,627 <br /> Reserves <br /> Restricted for 2015 Calculated Reserves $ 490,500 1 $ 647,000 1 <br /> Debt Service 2015 Proposed Calculated Reserves $ 490,500 <br /> Unrestricted 2015 Calculated Reserves $ 5,164,983 1 $ 5,434,671 1 <br /> Reserves 2015 Proposed Calculated Reserves $ 5,164,983 <br /> 124 <br />