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Elk River Municipal Utilities - Reserves Policy 5/2024 Proposed <br />ERMU Electric Fund - 61 <br />Description <br />Annual <br />Average Monthly <br />2024 Budgeted Expenditures <br />$ <br />46,948,091 <br />$ <br />3,912,341 <br />2024 Budgeted Interest Expense <br />$ <br />845,673 <br />$ <br />70,473 <br />2024 Budgeted Depreciation <br />$ <br />3,107,612 <br />$ <br />258,968 <br />2024 Budgeted Purchased Power Cost <br />$ <br />32,756,447 <br />$ <br />2,729,704 <br />2024 Budgeted Pricipal and Interest <br />$ <br />1,800,673 <br />n/a <br />2023 Peak Monthly Purchased Power Cost <br />$ <br />3,529,244 <br />$ <br />2,628,717 <br />2024 Reserves 1 12023 Reserves <br />2023 Audited Cash Balances $ 16,675,2511 1 $ 16,674,863 <br />Unrestricted 12024 Calculated Reserves <br />Designated 12024 Proposed Calculated Reserves <br />Reserves <br />Restricted for 12024 Calculated Reserves <br />Debt Service 12024 Proposed Calculated Reserves <br />Unrestricted 12024 Calculated Reserves <br />Reserves 12024 Proposed Calculated Reserves <br />$ 9,649,556 I I $ 9,190,976 <br />$ 9,649,556 <br />$ 1,779,016 $ 1,779,016 <br />$ 1,779,016 <br />$ 5,246,679 I I $ 5,704,871 <br />$ 5,246,679 <br />133 <br />