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Elk River Municipal Utilities- Reserves Policy 4/2019 Proposed <br /> ERMU Electric Fund-61 <br /> Description Annual Average Monthly <br /> 2019 Budgeted Expenditures $ 37,896,680 $ 3,158,057 <br /> 2019 Budgeted Interest Expense $ 687,947 _ $ 57,329 <br /> 2019 Budgeted Depreciation _ $ 2,895,535 $ 241,295 <br /> 2019 Budgeted Purchased Power Cost $ 25,724,106 $ 2,143,676 <br /> 2019 Budgeted Principal and Interest $ 1,828,864 n/a <br /> 2018 Peak Monthly Purchased Power Cost $ 3,093,826 $ 2,234,593 <br /> 2019 Reserves 2018 Reserves <br /> 2018 Audited Cash Balances $ 15,279,447 $ 13,803,692 <br /> Unrestricted 2019 Calculated Reserves $ 8,267,086 $ 7,313,782 <br /> Designated 2019 Proposed Calculated Reserves $ 8,267,086 <br /> Reserves <br /> Restricted for 2019 Calculated Reserves $ 1,261,359 $ 997,660 <br /> Debt Service 2019 Proposed Calculated Reserves $ 1,261,359 <br /> Unrestricted 2019 Calculated Reserves $ 5,751,003 $ 5,492,250 <br /> Reserves 2019 Proposed Calculated Reserves $ 5,751,003 <br /> 155 <br />