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ELK RIVER MUNICIPAL UTILITIES SUMMARY OF YEAR 2022
<br />BUDGET vs ACTUAL (UNAUDITED)
<br />ELECTRIC BUDGET SUMMARY
<br />2022 Budget
<br />2022 Actual
<br />ELECTRIC REVENUE
<br />$ 42,275,451
<br />$ 44,930,741
<br />ELECTRIC EXPENDITURES
<br />(40,227,956)
<br />(44,531,464)
<br />ELECTRIC NET FOR CAPITAL
<br />2,047,495
<br />4.84%
<br />399,277 0.89%
<br />DEBT RETIREMENT
<br />(1,055,000)
<br />(1,055,000)
<br />PROMISSORY NOTE TO COUNTY
<br />(209,124)
<br />(209,124)
<br />NET LESS DEBT PRINCIPAL PMTS
<br />783,371
<br />(864,847)
<br />CAPITAL EQUIPMENT/CONSTRUCTION
<br />(6,153,305)
<br />(8,798,386)
<br />FUND FROM RESERVES
<br />500,000 *
<br />Hwy 169 Redefine
<br />69,535
<br />FUND FROM RESERVES
<br />1,000,000 *
<br />Hwy 10 Substation
<br />-
<br />FUND FROM RESERVES
<br />500,000 *
<br />AMI
<br />-
<br />FUND FROM RESERVES
<br />884,185 *
<br />Area 1&2, 3&4 5&6 Loss of Revenue
<br />924,187
<br />FUND FROM RESERVES
<br />- *
<br />PCA
<br />500,000
<br />BONDING
<br />Reserves from Field Services Building
<br />6,205,968
<br />NET
<br />(2,485,749)
<br />(3,387,730)
<br />DEPRECIATION
<br />3,104,833
<br />3,032,667
<br />NET TO RESERVES
<br />$ 619,084 *
<br />$ (355,063)
<br />WATER BUDGET SUMMARY
<br />2022 Budget
<br />2022 Actual
<br />WATER REVENUE
<br />$ 3,343,069
<br />$ 5,483,580
<br />WATER EXPENDITURES
<br />(3,235,395)
<br />(3,140,584)
<br />WATER NET FOR CAPITAL
<br />107,674
<br />3.22%
<br />2,342,996 42.73%
<br />DEBT RETIREMENT
<br />(320,000)
<br />(320,000)
<br />NET LESS DEBT PRINCIPAL PMTS
<br />(212,326)
<br />2,022,996
<br />CAPITAL EQUIPMENT/CONSTRUCTION
<br />(1,725,655)
<br />(3,481,870)
<br />FUND FROM RESERVES
<br />1,201,575 *
<br />Highway 169 Redefine
<br />937,673
<br />FUND FROM DEVELOPER CONTRIBUTIONS
<br />-
<br />676,553
<br />BONDING
<br />Reserves from Field Services Building
<br />886,567
<br />NET
<br />(736,406)
<br />1,041,920
<br />DEPRECIATION
<br />1,199,124
<br />1,111,069
<br />NET TO RESERVES
<br />$ 462,718 *
<br />$ 2,152,989
<br />* Currently, target reserves are met.
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