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ELK RIVER MUNICIPAL UTILITIES SUMMARY OF YEAR 2023
<br />BUDGET vs ACTUAL (UNAUDITED)
<br />ELECTRIC BUDGET SUMMARY
<br />2023 Budget
<br />ELECTRIC REVENUE
<br />$ 47,672,143
<br />ELECTRIC EXPENDITURES
<br />(46,207,115)
<br />ELECTRIC NET FOR CAPITAL
<br />1,465,028 3.07%
<br />DEBT RETIREMENT
<br />(915,000)
<br />NET LESS DEBT PRINCIPAL PMTS
<br />550,028
<br />CAPITAL EQUIPMENT/CONSTRUCTION
<br />(8,213,440)
<br />FUND FROM RESERVES
<br />250,000
<br />FUND FROM RESERVES
<br />500,000
<br />FUND FROM RESERVES
<br />1,224,190
<br />BONDING or INTER -FUND BORROWING
<br />2,500,000
<br />BONDING
<br />-
<br />NET
<br />(3,189,222)
<br />DEPRECIATION
<br />3,220,836
<br />NET TO RESERVES
<br />$ 31,614
<br />WATER BUDGET SUMMARY
<br />2023 Budget
<br />WATER REVENUE
<br />$ 3,461,948
<br />WATER EXPENDITURES
<br />(3,409,581)
<br />WATER NET FOR CAPITAL
<br />52,367 1.51%
<br />DEBT RETIREMENT
<br />(60,000)
<br />NET LESS DEBT PRINCIPAL PMTS
<br />(7,633)
<br />CAPITAL EQUIPMENT/CONSTRUCTION
<br />(3,139,750)
<br />FUND FROM RESERVES
<br />1,198,000
<br />FUND FROM DEVELOPER CONTRIBUTIONS
<br />1,250,000
<br />BONDING
<br />-
<br />NET
<br />(699,383)
<br />DEPRECIATION
<br />1,202,937
<br />NET TO RESERVES
<br />$ 503,554
<br />* Currently, target reserves are met.
<br />Hwy 169 Redefine
<br />Otsego Transformer Replacement
<br />Area 1&2, 3&4 5&6 Loss of Revenue
<br />AMI
<br />Reserves from Field Services Building
<br />AMI
<br />Water Main Construction
<br />Reserves from Field Services Building
<br />2023 Actual
<br />$ 46,099,348
<br />(44,272,588)
<br />1,826,760 3.96%
<br />(915,000)
<br />911,760
<br />(5,880,408)
<br />26,992
<br />25,778
<br />940,467
<br />244,918
<br />1,012,973
<br />(2,962,437)
<br />3,177,100
<br />$ 214,663
<br />$ 3,801,970
<br />(3,208,891)
<br />593,079 15.60%
<br />(60,000)
<br />533,079
<br />(1,194,974)
<br />376,041
<br />19,199
<br />144,710
<br />(121,944)
<br />1,172, 659
<br />$ 1,050,715
<br />126
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