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ELK RIVER MUNICIPAL UTILITIES
<br /> SUMMARY OF YEAR 2018
<br /> BUDGET vs ACTUAL(UNAUDITED)
<br /> ELECTRIC BUDGET SUMMARY 2018 Budget 2018 Actual
<br /> ELECTRIC REVENUE $ 37,952,480 $ 39,831,783
<br /> ELECTRIC EXPENDITURES (36,907,205) (36,933,521)
<br /> ELECTRIC NET FOR CAPITAL 1,045,275 2.75% 2,898,262 7.28%
<br /> DEBT RETIREMENT (720,000) (720,000)
<br /> PROMISSORY NOTE TO COUNTY (198,252) (198,474)
<br /> MMPA BONDING (708,778)
<br /> LESS DEBT PRINCIPAL PMTS 127,023 1,271,010
<br /> CAPITAL EQUIPMENT/CONSTRUCTION (3,143,817) (2,762,082)
<br /> FUND FROM RESERVES 350,000 * Area 5&6 Plant 308,482 *
<br /> 511,117 * Area 1&2 Loss Rev 570,725 *
<br /> NET (2,155,677) (611,865)
<br /> DEPRECIATION 2,183,821 2,297,348
<br /> NET TO RESERVES 28,144 * 1,685,483 *
<br /> WATER BUDGET SUMMARY 2018 Budget 2018 Actual
<br /> WATER REVENUE $ 2,588,215 $ 3,503,331
<br /> WATER EXPENDITURES (2,982,460) (2,673,262)
<br /> WATER NET FOR CAPITAL (394,245) -15.23% 830,069 23.69%
<br /> DEBT RETIREMENT (255,000) (255,000)
<br /> GROSS (649,245) 575,069
<br /> CAPITAL PROJECTS (559,800) (197,309)
<br /> FUND FROM RESERVES
<br /> FUND FROM WATER TRUNK FUND
<br /> BONDING - -
<br /> NET (1,209,045) 377,760
<br /> DEPRECIATION 1,228,866 1,193,745
<br /> NET TO RESERVES 19,821 * 1,571,505 *
<br /> *Currently,target reserves are met.
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