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Minnesota Municipal Power Agency <br />Statements of Revenues, Expenses and Changes in Net Position <br />YTD March 31, 2022 - Unaudited <br />Operating Revenues <br />Power sales to members$38,877,539 <br />Power sales to non-members322,924 <br />Total operating revenues39,200,463 <br />Operating Expenses <br />Power acquisition expense19,952,155 <br />Transmission5,599,998 <br />Other operating expenses6,544,277 <br />Depreciation3,992,953 <br />Total operating expenses36,089,383 <br />Operating income (loss)3,111,080 <br />Nonoperating Revenues (Expenses) <br />Interest expense(1,760,844) <br />Investment income102,116 <br />Net (decrease) increase in the fair value of investments(349,199) <br />Gain on sale of investments129,129 <br />Total nonoperating revenues (expenses), net(1,878,798) <br />Change in net position before future recoverable costs1,232,282 <br />Future Recoverable Costs(1,654,644) <br />Change in net position(422,362) <br />Net Position, Beginning of Year 183,473,001 <br />Net Position, March 31, 2022$183,050,639 <br />158 <br />