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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 JULY 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 />JULY
<br />YTD
<br />BUDGET
<br />BUDGET
<br />Bud Var%
<br />JULY
<br />YTD
<br />VARIANCE
<br />Actual Var%
<br />SALARIES TRANSMISSION & DIST
<br />2,618
<br />17,559
<br />17,500
<br />30,000
<br />0
<br />1,910
<br />16,082
<br />1,476
<br />9
<br />ELECTRIC MAPPING
<br />5,945
<br />98,759
<br />58,333
<br />100,000
<br />69
<br />5,466
<br />83,494
<br />15,264
<br />18
<br />MTCE OF OH SECONDARY
<br />1,975
<br />11,139
<br />14,583
<br />25,000
<br />(24)
<br />2,414
<br />13,352
<br />(2,213)
<br />(17)
<br />MTCE OF URD SECONDARY
<br />6,979
<br />29,790
<br />35,000
<br />60,000
<br />(15)
<br />5,068
<br />29,238
<br />551
<br />2
<br />TRANSPORTATION EXPENSE
<br />14,650
<br />184,757
<br />175,000
<br />300,000
<br />6
<br />14,598
<br />168,316
<br />16,440
<br />10
<br />Total For Maintenance Expense:
<br />128,757
<br />1,152,785
<br />1,017,125
<br />1,668,500
<br />13
<br />112,440
<br />947,042
<br />205,742
<br />22
<br />Depreciation & Amortization
<br />DEPRECIATION
<br />219,370
<br />1,536,377
<br />1,423,030
<br />2,439,475
<br />8
<br />206,807
<br />1,454,787
<br />81,599
<br />6
<br />AMORTIZATION
<br />55,677
<br />389,745
<br />389,746
<br />668,136
<br />0
<br />55,677
<br />389,745
<br />0
<br />0
<br />Total For Depreciation & Amortization:
<br />275,048
<br />1,926,122
<br />1,812,776
<br />3,107,611
<br />6
<br />262,485
<br />1,844,533
<br />81,589
<br />4
<br />Interest Expense
<br />INTEREST EXPENSE - BONDS
<br />70,163
<br />492,378
<br />492,378
<br />845,673
<br />0
<br />73,213
<br />513,691
<br />(21,312)
<br />(4)
<br />AMORTIZATION OF DEBT DISCOU
<br />(4,988)
<br />(34,919)
<br />(34,919)
<br />(59,863)
<br />0
<br />(4,988)
<br />(34,919)
<br />0
<br />0
<br />Total For Interest Expense:
<br />65,174
<br />457,459
<br />457,459
<br />785,810
<br />0
<br />68,224
<br />478,771
<br />(21,312)
<br />(4)
<br />Other Operating Expense
<br />EV CHARGING EXPENSE
<br />222
<br />1,546
<br />1,808
<br />3,100
<br />(14)
<br />245
<br />1,102
<br />444
<br />40
<br />LOSS ON DISPOSITION OF PROP (C
<br />0
<br />4,105
<br />0
<br />155,800
<br />0
<br />13,073
<br />13,073
<br />(8,968)
<br />(69)
<br />OTHER DONATIONS
<br />0
<br />0
<br />1,750
<br />3,000
<br />(100)
<br />0
<br />108
<br />(108)
<br />(100)
<br />MUTUAL AID
<br />3,300
<br />3,300
<br />0
<br />0
<br />0
<br />0
<br />0
<br />3,300
<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 />4,805
<br />33,300
<br />29,166
<br />50,000
<br />14
<br />3,975
<br />27,626
<br />5,673
<br />21
<br />Total For Other Operating Expense:
<br />8,329
<br />42,253
<br />32,725
<br />506,900
<br />29
<br />17,295
<br />42,289
<br />(36)
<br />0
<br />Customer Accounts Expense
<br />METER READING EXPENSE
<br />4,758
<br />25,470
<br />27,416
<br />47,000
<br />(7)
<br />3,679
<br />23,534
<br />1,936
<br />8
<br />DISCONNECT/RECONNECT EXPEN
<br />1,849
<br />8,438
<br />12,833
<br />22,000
<br />(34)
<br />992
<br />11,792
<br />(3,353)
<br />(28)
<br />MISC CUSTOMER ACCOUNTS EXP
<br />28,182
<br />200,156
<br />201,250
<br />345,000
<br />(1)
<br />28,369
<br />191,975
<br />8,180
<br />4
<br />BAD DEBT EXPENSE & RECOVER
<br />1,869
<br />8,439
<br />14,583
<br />25,000
<br />(42)
<br />807
<br />23,467
<br />(15,028)
<br />(64)
<br />Total For Customer Accounts Expense:
<br />36,659
<br />242,505
<br />256,083
<br />439,000
<br />(5)
<br />33,848
<br />250,769
<br />(8,264)
<br />(3)
<br />Administrative Expense
<br />SALARIES OFFICE & COMMISSION
<br />74,756
<br />515,876
<br />529,666
<br />908,000
<br />(3)
<br />59,121
<br />462,827
<br />53,049
<br />11
<br />TEMPORARY STAFFING
<br />0
<br />0
<br />2,333
<br />4,000
<br />(100)
<br />0
<br />0
<br />0
<br />0
<br />OFFICE SUPPLIES
<br />6,407
<br />54,314
<br />72,916
<br />125,000
<br />(26)
<br />7,916
<br />74,229
<br />(19,915)
<br />(27)
<br />ELECTRIC & WATER CONSUMPTI
<br />2,924
<br />15,934
<br />23,333
<br />40,000
<br />(32)
<br />2,589
<br />17,269
<br />(1,334)
<br />(8)
<br />BANK FEES
<br />259
<br />1,555
<br />1,458
<br />2,500
<br />7
<br />132
<br />1,011
<br />543
<br />54
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