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Electric
<br />Revenue
<br />Operating Revenue
<br />Elk River
<br />Otsego
<br />Rural Big Lake
<br />Dayton
<br />Public St & Hwy Lighting
<br />Other Electric Sales
<br />Total Operating Revenue
<br />Other Operating Revenue
<br />Interest/Dividend Income
<br />Customer Penalties
<br />LEG Project
<br />Connection Fees
<br />Misc Revenue
<br />Total Other Revenue
<br />Total Revenue
<br />Expenses
<br />Purchased Power
<br />Operating & Mice Expense
<br />Landfill Gas
<br />Transmission Expense
<br />Distribution Expense
<br />Maintenance Expense
<br />Depreciation & Amortization
<br />Interest Expense
<br />Other Operating Expense
<br />Customer Accounts Expense
<br />Administrative Expense
<br />General Expense
<br />Total Expenses(before Operating Transfers)
<br />Operating Transfer
<br />Operating Transfer/Other Funds
<br />Utilities & Labor Donated
<br />Total Operating Transfer
<br />Net Income Prolit(Loss)
<br />ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
<br />FOR PERIOD ENDING DECEMBER 2023
<br />2023 2023 2023 YTD 2023 YTD 2023 2022 2022 YTD 2022 v.
<br />DECEMBER YTD YTD Budget Bud Var% ANNUAL DECEMBER YTD VARIANCE 2023 Actual
<br />BUDGET Variance BUDGET Var% Variance
<br />Item
<br />2,433,461
<br />39,485,338
<br />42,041,326
<br />(2,555,988)
<br />(6)
<br />42,041,326
<br />3,171,610
<br />37,373,184
<br />2,112,154
<br />6
<br />220,975
<br />3,752,121
<br />3,385,657
<br />366,464
<br />11
<br />3,385,657
<br />302,635
<br />3,351,689
<br />400,432
<br />12
<br />13,068
<br />216,032
<br />238,658
<br />(22,626)
<br />(9)
<br />238,658
<br />19,105
<br />203,559
<br />12,473
<br />6
<br />15,042
<br />267,288
<br />285,471
<br />(18,183)
<br />(6)
<br />285,471
<br />22,387
<br />249,416
<br />17,872
<br />7
<br />21,674
<br />259,192
<br />260,000
<br />(808)
<br />(0)
<br />260,000
<br />21,729
<br />258,671
<br />521
<br />0
<br />400
<br />4,800
<br />4,800
<br />0
<br />0
<br />4,800
<br />(225,320)
<br />900,468 11F'
<br />(895,668)-(1)
<br />2,704,619
<br />43,984,771
<br />46,215,912
<br />(2,231,141)
<br />(5)
<br />46,215,912
<br />3,312,146
<br />42,336,988
<br />1,647,783
<br />4
<br />46,659
<br />158,310
<br />50,000
<br />108,310
<br />50,000
<br />33,153
<br />(159,502)
<br />317,812 -(2)
<br />19,454
<br />308,374
<br />250,000
<br />58,374
<br />250,000
<br />17,992
<br />284,452
<br />23,922 8 (3)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />935,004
<br />(935,004) (4)
<br />11,135
<br />151,296
<br />220,000
<br />■ (68,704)=
<br />220,000
<br />38,575
<br />243,088
<br />(91,792) (5)
<br />232,703
<br />1,496,597
<br />936.231
<br />560.366
<br />936,231
<br />130,902
<br />1,307,320
<br />189,277 14 (6)
<br />309,952
<br />2,114,578
<br />1,456,231
<br />658,347
<br />45
<br />1,456,231
<br />220,622
<br />2,610,362
<br />(495,784) (19)
<br />3,014,571
<br />46,099,348
<br />47,672,143
<br />(1,572,795)
<br />(3)
<br />47,672,143
<br />3,532,768
<br />44,947,350
<br />1,151,999 3
<br />2,142,668
<br />31,232,788
<br />32,766,025
<br />(1,533,237)
<br />(5)
<br />32,766,025
<br />2,325,352
<br />31,544,604
<br />(311,816)
<br />(1)
<br />27,441
<br />315,056
<br />321,000
<br />(5,944)
<br />(2)
<br />321,000
<br />36,054
<br />273,671
<br />(7)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />(38,905)
<br />519,630
<br />(8)
<br />4,445
<br />63,811
<br />70,000
<br />(6,189)
<br />(9)
<br />70,000
<br />5,148
<br />63,953
<br />(142)
<br />(0)
<br />31,133
<br />434,319
<br />369,466
<br />369,466
<br />38,390
<br />386,598
<br />47,721
<br />12 (9)
<br />163,413
<br />1,679,313
<br />1,540,500
<br />138,813
<br />9
<br />1,540,500
<br />151,167
<br />1,512,235
<br />167,078
<br />11
<br />275,117
<br />3,177,100
<br />3,220,836
<br />(43,736)
<br />(1)
<br />3,220,836
<br />295,010
<br />3,062,751
<br />114,349
<br />4
<br />66,412
<br />810,832
<br />810,832
<br />(0)
<br />0
<br />810,832
<br />69,425
<br />846,309
<br />(35,477)
<br />(4)
<br />4,303
<br />68,071
<br />74,109
<br />(6,038)
<br />(8)
<br />74,109
<br />348,129
<br />401,008
<br />(10)
<br />34,704
<br />433,494
<br />401,500
<br />31,994
<br />8
<br />401,500
<br />30,580
<br />391,238
<br />42,256
<br />11
<br />319,812
<br />3,795,826
<br />4,128,585
<br />(332,759)
<br />(8)
<br />4,128,585
<br />281,386
<br />3,659,777
<br />136,049
<br />4
<br />34,755
<br />388,038
<br />582,609
<br />582,609
<br />24,652
<br />405,767
<br />(17,729)
<br />(4) (11)
<br />3,104,204
<br />42,398,647
<br />44,285,462
<br />(1,886,815)
<br />(4)
<br />44,285,462
<br />3,566,386
<br />43,067,542
<br />(668,895)
<br />(2)
<br />98,038 1,620,378 1,681,653 (61,275) (4) 1,681,653 127,568 1,531,633 88,745 6
<br />18,464 253,564 240,000 13,564 6 240,000 19,563 231,861 21,703 9
<br />116,502 1,873,941 1,921,653 (47,712) (2) 1,921,653 147,131 1,763,493 110,448 6
<br />(206,135) 1,826,760 1,465,028 361,732 25 1,465,028 (180,749) 116,314 1,710,446 1,471
<br />Item Variance of+/- $25,000 and+/- 15%
<br />(1) PYTD variance is due to accrual of PCA revenue in 2022 (See Rate Increase on Detailed Statement).
<br />(2) Budget variance is due to conservative budgeted amount. PYTD variance is due to the change in Fair Market Value of Investments.
<br />(3) Budget variance is due to conservative budgeted amount.
<br />(4) PYTD variance is due to the LEG Project coming to an end in 2022.
<br />(5) YTD Budget and PYTD variance is due to less than average connection fees in 2023.
<br />(6) YTD Budget variance is mainly due to a conservative budgeted amount for contribution from customers and misc non -utility and higher than anticipated transmission investment revenue.
<br />(7) PYTD variance is mainly due to increased electric & water expense for new field services building in 2023.
<br />(8) PYTD variance is due to the LEG Project coming to an end in 2022.
<br />(9) YTD Budget variance is mainly due to increased labor (inventory, tool repair, maintenance of rubber goods, electrical apparatus maintenance/repair, and grounds testing/maintenance),
<br />tools and uniform expense in 2023.
<br />(10) PYTD variance is due to Pension Expense being recognized as a year-end audit entry.
<br />(11) YTD Budget variance is mainly due to less rebate dollars spent than budgeted.
<br />41
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