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Elk River Municipal Utilities- Reserves Policy 4/2015 Proposed <br /> ERMU Water Fund-62 <br /> Description Annual Average Monthly <br /> 2015 Budgeted Expenditures $ 2,541,030 $ 211,753 <br /> 2015 Budgeted Interest Expense $ 67,080 $ 5,590 <br /> 2015 Budgeted Depreciation $ 1,130,000 $ 94,167 <br /> 2015 Budgeted Pricipal and Interest $ 325,080 n/a <br /> 12015 Reserves 2014 Reserves <br /> 12014 Audited Cash Balances $ 3,681,481 $ 3,390,879 <br /> Unrestricted 2015 Calculated Reserves $ 997,055 1 $ 1,278,326 <br /> Designated 2015 Proposed Calculated Reserves $ 997,055 <br /> Reserves <br /> Restricted for 2015 Calculated Reserves $ - I $ - I <br /> Debt Service 2015 Proposed Calculated Reserves $ - <br /> Unrestricted 2015 Calculated Reserves $ 2,684,426 1 $ 2,112,554 I <br /> Reserves 2015 Proposed Calculated Reserves $ 2,684,426 <br /> 125 <br />