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'411* <br /> Financials <br /> The financial performance of Elk River <br /> Municipal Utilities continues to be solid and <br /> 1101.1°.1°.. <br /> we are proud of our physical growth related <br /> to the electric service territory transfer, <br /> as well as new businesses and residences. <br /> This growth provides an increased revenue <br /> stream that currently outpaces our operation <br /> and administrative expenses, resulting in <br /> better rates for everyone. In conjunction <br /> with the Mission of ERMU, "To provide safe, <br /> reliable, cost effective and quality Long term <br /> electric and water utility services.....in an <br /> environmentally and financially responsible <br /> manner," we strive to keep our costs down, <br /> so we can keep your costs down, and still <br /> provide the best service possible. <br /> Arm <br /> In 2015 we implemented a temporary <br /> demand rate adjustment to help with rate <br /> transitions for the new Large commercial <br /> customers acquired. We were able to hold <br /> our electric rates for 2016 to a 0% increase, <br /> water rates to a 2.5% increase, and we are <br /> hoping to have minimal rate increases over 3r+rthh:,;;; : <br /> mail <br /> the next several years. <br /> ,ter <br /> Page 8 <br />