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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
<br />FOR PERIOD ENDING JANUARY 2024
<br />2024
<br />2024
<br />2024
<br />2024
<br />YTD
<br />ANNUAL
<br />2024 YTD
<br />2023
<br />2023
<br />YTD
<br />2023 v. 2024
<br />Electric
<br />JANUARY
<br />YTD
<br />BUDGET
<br />BUDGET
<br />Bud Var%
<br />JANUARY
<br />YTD
<br />VARIANCE
<br />Actual Var%
<br />ELECTRIC MAPPING
<br />30,979
<br />30,979
<br />8,333
<br />100,000
<br />272
<br />19,409
<br />19,409
<br />11,569
<br />60
<br />MTCE OF OH SECONDARY
<br />1,409
<br />1,409
<br />2,083
<br />25,000
<br />(32)
<br />2,081
<br />2,081
<br />(671)
<br />(32)
<br />MTCE OF URD SECONDARY
<br />3,709
<br />3,709
<br />5,000
<br />60,000
<br />(26)
<br />3,752
<br />3,752
<br />(43)
<br />(1)
<br />TRANSPORTATION EXPENSE
<br />43,166
<br />43,166
<br />25,000
<br />300,000
<br />73
<br />21,273
<br />21,273
<br />21,892
<br />103
<br />Total For Maintenance Expense:
<br />209,197
<br />209,197
<br />169,875
<br />1,668,500
<br />23
<br />139,313
<br />139,313
<br />69,883
<br />50
<br />Depreciation & Amortization
<br />DEPRECIATION
<br />218,417
<br />218,417
<br />203,290
<br />2,439,475
<br />7
<br />209,350
<br />209,350
<br />9,066
<br />4
<br />AMORTIZATION
<br />55,677
<br />55,677
<br />55,678
<br />668,136
<br />0
<br />55,677
<br />55,677
<br />0
<br />0
<br />Total For Depreciation & Amortization:
<br />274,095
<br />274,095
<br />258,968
<br />3,107,611
<br />6
<br />265,028
<br />265,028
<br />9,066
<br />3
<br />Interest Expense
<br />INTEREST EXPENSE - BONDS
<br />71,400
<br />71,400
<br />71,400
<br />845,673
<br />0
<br />74,413
<br />74,413
<br />(3,012)
<br />(4)
<br />AMORTIZATION OF DEBT DISCOU
<br />(4,988)
<br />(4,988)
<br />(4,988)
<br />(59,863)
<br />0
<br />(4,988)
<br />(4,988)
<br />0
<br />0
<br />Total For Interest Expense:
<br />66,412
<br />66,412
<br />66,412
<br />785,810
<br />0
<br />69,424
<br />69,424
<br />(3,012)
<br />(4)
<br />Other Operating Expense
<br />EV CHARGING EXPENSE
<br />207
<br />207
<br />258
<br />3,100
<br />(20)
<br />289
<br />289
<br />(81)
<br />(28)
<br />LOSS ON DISPOSITION OF PROP (C
<br />0
<br />0
<br />0
<br />155,800
<br />0
<br />0
<br />0
<br />0
<br />0
<br />OTHER DONATIONS
<br />0
<br />0
<br />250
<br />3,000
<br />(100)
<br />0
<br />0
<br />0
<br />0
<br />PENSION EXPENSE
<br />0
<br />0
<br />0
<br />295,000
<br />0
<br />0
<br />0
<br />0
<br />0
<br />OTHER INTEREST EXPENSE
<br />0
<br />0
<br />0
<br />0
<br />0
<br />378
<br />378
<br />(378)
<br />(100)
<br />INTEREST EXPENSE - METER DEP
<br />4,660
<br />4,660
<br />4,166
<br />50,000
<br />12
<br />3,902
<br />3,902
<br />757
<br />19
<br />Total For Other Operating Expense:
<br />4,867
<br />4,867
<br />4,675
<br />506,900
<br />4
<br />4,569
<br />4,569
<br />297
<br />7
<br />Customer Accounts Expense
<br />METER READING EXPENSE
<br />3,672
<br />3,672
<br />3,916
<br />47,000
<br />(6)
<br />2,846
<br />2,846
<br />826
<br />29
<br />DISCONNECT/RECONNECT EXPEN
<br />1,341
<br />1,341
<br />1,833
<br />22,000
<br />(27)
<br />1,263
<br />1,263
<br />77
<br />6
<br />MISC CUSTOMER ACCOUNTS EXP
<br />26,897
<br />26,897
<br />28,750
<br />345,000
<br />(6)
<br />27,716
<br />27,716
<br />(818)
<br />(3)
<br />BAD DEBT EXPENSE & RECOVER
<br />1,240
<br />1,240
<br />2,083
<br />25,000
<br />(40)
<br />87
<br />87
<br />1,152
<br />1,310
<br />Total For Customer Accounts Expense:
<br />33,152
<br />33,152
<br />36,583
<br />439,000
<br />(9)
<br />31,914
<br />31,914
<br />1,237
<br />4
<br />Administrative Expense
<br />SALARIES OFFICE & COMMISSION
<br />75,278
<br />75,278
<br />75,666
<br />908,000
<br />(1)
<br />67,404
<br />67,404
<br />7,873
<br />12
<br />TEMPORARY STAFFING
<br />0
<br />0
<br />333
<br />4,000
<br />(100)
<br />0
<br />0
<br />0
<br />0
<br />OFFICE SUPPLIES
<br />4,557
<br />4,557
<br />10,416
<br />125,000
<br />(56)
<br />10,807
<br />10,807
<br />(6,250)
<br />(58)
<br />ELECTRIC & WATER CONSUMPTI
<br />2,146
<br />2,146
<br />3,333
<br />40,000
<br />(36)
<br />6,194
<br />6,194
<br />(4,048)
<br />(65)
<br />BANK FEES
<br />135
<br />135
<br />208
<br />2,500
<br />(35)
<br />137
<br />137
<br />(1)
<br />(1)
<br />LEGAL FEES
<br />1,264
<br />1,264
<br />2,500
<br />30,000
<br />(49)
<br />2,360
<br />2,360
<br />(1,096)
<br />(46)
<br />AUDITING FEES
<br />1,640
<br />1,640
<br />1,833
<br />22,000
<br />(11)
<br />1,623
<br />1,623
<br />16
<br />1
<br />171
<br />
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