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Elk River Municipal Utilities - Reserves Policy 5/2024 <br />Proposed <br />ERMU Water Fund - 62 <br />Description <br />Annual <br />Average Monthly <br />2024 Budgeted Expenditures <br />$ 3,649,282 <br />$ 304,107 <br />2024 Budgeted Interest Expense <br />$ 40,600 <br />$ 3,383 <br />2024 Budgeted Depreciation <br />$ 1,148,988 <br />$ 95,749 <br />2024 Budgeted Pricipal and Interest <br />$ 100,600 <br />1 n/a <br />2023 Audited Cash Balances <br />2024 Reserves <br />$ 10,879,501 <br />Unrestricted <br />12024 Calculated Reserves <br />$ <br />1,330,447 <br />Designated <br />12024 Proposed Calculated Reserves <br />$ <br />1,330,447 <br />Reserves <br />Restricted for <br />2024 Calculated Reserves <br />$ <br />- <br />Debt Service <br />12024 Proposed Calculated Reserves <br />$ <br />- <br />Unrestricted <br />12024 Calculated Reserves <br />$ <br />9,549,054 <br />Reserves <br />12024 Proposed Calculated Reserves <br />$ <br />9,549,054 <br />2023 Reserves <br />$ 10,067,584 <br />$ 1,184,822 <br />$ 8,882,763 <br />134 <br />