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5.2 EMRUSR 10-11-2022
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5.2 EMRUSR 10-11-2022
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10/12/2022 2:29:26 PM
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10/12/2022 1:12:20 PM
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City Government
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ERMUSR
date
10/11/2022
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expensebudget, the overall preliminary electric department expense budget increaseis <br />1.5% comparedto 2022 budget. <br />The budgeted Payment in Lieu of Taxes (PILOT) amount for 2023 is $1.714 million. The <br />PILOT is comprised of $1.474 million based off 4% of the city of Elk River sales <br />calculation, and $240,000 in donated utilities and labor. This preliminary projection will <br />change when revenue is budgeted for next month. <br /> <br />2. Water Department Expense Budget – The 2023 budget for water expenses are a 4.4% <br />increase compared tothe current year budget. It is noteworthy that the 2022 forecast <br />for expenses are in line with 2022 budget. Most notable increases are administrative <br />expenses due to the addition of a new administration director. Other expense increases <br />are very minimal, but we have seen an increase in our costs from our suppliers. <br /> <br />3. Conservation Improvement Program Budget – The 2023 budget for CIP includes <br />$307,753for rebates (residential, commercial, and low income), a slight decrease from <br />2022 of $854, as required to meet our energy savings goal mandate. <br /> <br />ATTACHMENTS: <br />Preliminary 2023 Electric Expense Budget <br />Preliminary2023 Water Expense Budget <br /> 2023 Conservation Improvement Program Budget Summary <br />______________________________________________________________________________ <br />Page 2 of 2 <br />69 <br /> <br />
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