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Economic Factors and Next Year's Budgets and Rates <br />The increased emphasis toward renewable energy and away from coal -based energy, the challenge to reduce energy and <br />water consumption while still maintaining the existing infrastructure and the smart grid developments are all factors that <br />point to potential increased cost in the coming years. It is the Utilities' goal to not have to rely on increasing rates to meet <br />those increases but continue to look for ways to increase efficiencies and reduce costs, while providing excellent <br />customer service. Elk River Municipal Utilities' mission is to provide safe, cost-effective, reliable, quality utilities in an <br />environmentally and financially responsible manner. We have met that mission in our customer service delivery and our <br />successful financial results and will continue to strive to meet that mission in the future. <br />Contacting the Utilities Finance Manager <br />This financial report is designed to provide our citizens, customers, investors, and creditors with a general overview of the <br />Utilities' finances and to demonstrate the Utilities' accountability for the money it receives. Questions concerning any of <br />the information provided in this report or requests for additional financial information should be addressed to Melissa <br />Karpinski, Elk River Municipal Utilities, PO Box 430, Elk River, Minnesota 55330-0430 or at 13069 Orono Parkway in Elk <br />River, MN. <br />20 <br />103 <br />