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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 MARCH 2O24
<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 />MARCH
<br />YTD
<br />BUDGET
<br />BUDGET
<br />Bud Var%
<br />MARCH
<br />YTD
<br />VARIANCE
<br />Actual Var%
<br />ELECTRIC MAPPING
<br />19,282
<br />72,639
<br />24,999
<br />100,000
<br />191
<br />17,294
<br />54,277
<br />18,362
<br />34
<br />MTCE OF OH SECONDARY
<br />1,322
<br />3,729
<br />6,249
<br />25,000
<br />(40)
<br />1,057
<br />4,364
<br />(634)
<br />(15)
<br />MTCE OF URD SECONDARY
<br />3,794
<br />9,988
<br />15,000
<br />60,000
<br />(33)
<br />5,406
<br />10,169
<br />(180)
<br />(2)
<br />TRANSPORTATION EXPENSE
<br />29,688
<br />94,727
<br />75,000
<br />300,000
<br />26
<br />44,819
<br />94,777
<br />(50)
<br />0
<br />Total For Maintenance Expense:
<br />193,874
<br />579,337
<br />509,625
<br />1,668,500
<br />14
<br />200,829
<br />459,473
<br />119,864
<br />26
<br />Depreciation & Amortization
<br />DEPRECIATION
<br />219,545
<br />657,680
<br />609,870
<br />2,439,475
<br />8
<br />208,101
<br />625,647
<br />32,033
<br />5
<br />AMORTIZATION
<br />55,677
<br />167,033
<br />167,034
<br />668,136
<br />0
<br />55,677
<br />167,033
<br />0
<br />0
<br />Total For Depreciation & Amortization:
<br />275,223
<br />824,714
<br />776,904
<br />3,107,611
<br />6
<br />263,778
<br />792,681
<br />32,033
<br />4
<br />Interest Expense
<br />INTEREST EXPENSE - BONDS
<br />70,163
<br />211,726
<br />211,726
<br />845,673
<br />0
<br />73,213
<br />220,839
<br />(9,112)
<br />(4)
<br />AMORTIZATION OF DEBT DISCOU
<br />(4,988)
<br />(14,965)
<br />(14,965)
<br />(59,863)
<br />0
<br />(4,988)
<br />(14,965)
<br />0
<br />0
<br />Total For Interest Expense:
<br />65,174
<br />196,761
<br />196,761
<br />785,810
<br />0
<br />68,224
<br />205,873
<br />(9,112)
<br />(4)
<br />Other Operating Expense
<br />EV CHARGING EXPENSE
<br />179
<br />586
<br />774
<br />3,100
<br />(24)
<br />(424)
<br />206
<br />379
<br />184
<br />LOSS ON DISPOSITION OF PROP (C
<br />4,105
<br />4,105
<br />0
<br />155,800
<br />0
<br />0
<br />0
<br />4,105
<br />0
<br />OTHER DONATIONS
<br />0
<br />0
<br />750
<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 />0
<br />378
<br />(378)
<br />(100)
<br />INTEREST EXPENSE - METER DEP
<br />4,733
<br />14,115
<br />12,500
<br />50,000
<br />13
<br />3,913
<br />11,729
<br />2,386
<br />20
<br />Total For Other Operating Expense:
<br />9,019
<br />18,808
<br />14,025
<br />506,900
<br />34
<br />3,489
<br />12,314
<br />6,494
<br />53
<br />Customer Accounts Expense
<br />METER READING EXPENSE
<br />2,427
<br />9,086
<br />11,750
<br />47,000
<br />(23)
<br />3,198
<br />9,114
<br />(27)
<br />0
<br />DISCONNECURECONNECT EXPEN
<br />399
<br />2,271
<br />5,499
<br />22,000
<br />(59)
<br />1,542
<br />4,119
<br />(1,848)
<br />(45)
<br />MISC CUSTOMER ACCOUNTS EXP
<br />28,810
<br />84,031
<br />86,250
<br />345,000
<br />(3)
<br />27,579
<br />80,233
<br />3,797
<br />5
<br />BAD DEBT EXPENSE & RECOVER
<br />(29)
<br />2,857
<br />6,249
<br />25,000
<br />(54)
<br />1,693
<br />1,813
<br />1,044
<br />58
<br />Total For Customer Accounts Expense:
<br />31,607
<br />98,246
<br />109,749
<br />439,000
<br />(10)
<br />34,014
<br />95,281
<br />2,965
<br />3
<br />Administrative Expense
<br />SALARIES OFFICE & COMMISSION
<br />70,369
<br />217,921
<br />227,000
<br />908,000
<br />(4)
<br />76,000
<br />205,674
<br />12,246
<br />6
<br />TEMPORARY STAFFING
<br />0
<br />0
<br />999
<br />4,000
<br />(100)
<br />0
<br />0
<br />0
<br />0
<br />OFFICE SUPPLIES
<br />5,808
<br />22,748
<br />31,250
<br />125,000
<br />(27)
<br />10,141
<br />37,996
<br />(15,247)
<br />(40)
<br />ELECTRIC & WATER CONSUMPTI
<br />2,019
<br />6,163
<br />9,999
<br />40,000
<br />(38)
<br />(4,646)
<br />6,747
<br />(584)
<br />(9)
<br />BANK FEES
<br />126
<br />444
<br />624
<br />2,500
<br />(29)
<br />141
<br />460
<br />(16)
<br />(3)
<br />LEGAL FEES
<br />417
<br />2,330
<br />7,500
<br />30,000
<br />(69)
<br />3,445
<br />7,108
<br />(4,778)
<br />(67)
<br />AUDITING FEES
<br />1,640
<br />4,920
<br />5,499
<br />22,000
<br />(11)
<br />1,623
<br />4,869
<br />50
<br />1
<br />165
<br />
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