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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 SEPTEMBER 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 />SEPTEMBER
<br />YTD
<br />BUDGET
<br />BUDGET
<br />Bud Var%
<br />SEPTEMBER
<br />YTD
<br />VARIANCE
<br />Actual Var%
<br />SALARIES TRANSMISSION & DIST
<br />2,921
<br />22,940
<br />22,500
<br />30,000
<br />2
<br />2,239
<br />20,921
<br />2,019
<br />10
<br />ELECTRIC MAPPING
<br />4,566
<br />107,589
<br />74,999
<br />100,000
<br />43
<br />2,947
<br />93,060
<br />14,529
<br />16
<br />MTCE OF OH SECONDARY
<br />1,966
<br />15,650
<br />18,749
<br />25,000
<br />(17)
<br />1,571
<br />19,322
<br />(3,672)
<br />(19)
<br />MTCE OF URD SECONDARY
<br />4,698
<br />43,434
<br />45,000
<br />60,000
<br />(3)
<br />6,177
<br />45,465
<br />(2,031)
<br />(4)
<br />TRANSPORTATION EXPENSE
<br />4,749
<br />210,211
<br />225,000
<br />300,000
<br />(7)
<br />19,325
<br />212,989
<br />(2,778)
<br />(1)
<br />Total For Maintenance Expense:
<br />88,733
<br />1,389,091
<br />1,258,875
<br />1,668,500
<br />10
<br />123,833
<br />1,270,305
<br />118,786
<br />9
<br />Depreciation & Amortization
<br />DEPRECIATION
<br />219,404
<br />1,975,438
<br />1,829,610
<br />2,439,475
<br />8
<br />208,189
<br />1,871,068
<br />104,370
<br />6
<br />AMORTIZATION
<br />55,677
<br />501,101
<br />501,102
<br />668,136
<br />0
<br />55,677
<br />501,101
<br />0
<br />0
<br />Total For Depreciation & Amortization:
<br />275,082
<br />2,476,540
<br />2,330,712
<br />3,107,611
<br />6
<br />263,867
<br />2,372,170
<br />104,370
<br />4
<br />Interest Expense
<br />INTEREST EXPENSE - BONDS
<br />68,246
<br />628,871
<br />628,871
<br />845,673
<br />0
<br />71,400
<br />656,492
<br />(27,620)
<br />(4)
<br />AMORTIZATION OF DEBT DISCOU
<br />(4,988)
<br />(44,896)
<br />(44,896)
<br />(59,863)
<br />0
<br />(4,988)
<br />(44,896)
<br />0
<br />0
<br />Total For Interest Expense:
<br />63,257
<br />583,974
<br />583,974
<br />785,810
<br />0
<br />66,412
<br />611,595
<br />(27,620)
<br />(5)
<br />Other Operating Expense
<br />EV CHARGING EXPENSE
<br />248
<br />1,934
<br />2,324
<br />3,100
<br />(17)
<br />209
<br />1,550
<br />383
<br />25
<br />LOSS ON DISPOSITION OF PROP (C
<br />(1,080)
<br />3,025
<br />155,800
<br />155,800
<br />(98)
<br />0
<br />13,073
<br />(10,048)
<br />(77)
<br />OTHER DONATIONS
<br />0
<br />0
<br />2,250
<br />3,000
<br />(100)
<br />0
<br />108
<br />(108)
<br />(100)
<br />MUTUAL AID
<br />0
<br />27,519
<br />0
<br />0
<br />0
<br />0
<br />4,415
<br />23,103
<br />523
<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 />4,827
<br />42,956
<br />37,500
<br />50,000
<br />15
<br />4,055
<br />35,676
<br />7,279
<br />20
<br />Total For Other Operating Expense:
<br />3,996
<br />75,436
<br />197,875
<br />506,900
<br />(62)
<br />4,264
<br />55,203
<br />20,232
<br />37
<br />Customer Accounts Expense
<br />METER READING EXPENSE
<br />4,507
<br />35,234
<br />35,250
<br />47,000
<br />0
<br />4,178
<br />31,367
<br />3,866
<br />12
<br />DISCONNECT/RECONNECT EXPEN
<br />1,679
<br />11,743
<br />16,499
<br />22,000
<br />(29)
<br />2,965
<br />17,627
<br />(5,883)
<br />(33)
<br />MISC CUSTOMER ACCOUNTS EXP
<br />33,545
<br />264,752
<br />258,750
<br />345,000
<br />2
<br />28,769
<br />249,133
<br />15,618
<br />6
<br />BAD DEBT EXPENSE & RECOVER
<br />888
<br />12,736
<br />18,749
<br />25,000
<br />(32)
<br />216
<br />24,179
<br />(11,442)
<br />(47)
<br />Total For Customer Accounts Expense:
<br />40,622
<br />324,467
<br />329,249
<br />439,000
<br />(1)
<br />36,129
<br />322,307
<br />2,159
<br />1
<br />Administrative Expense
<br />SALARIES OFFICE & COMMISSION
<br />77,832
<br />666,132
<br />681,000
<br />908,000
<br />(2)
<br />61,586
<br />595,502
<br />70,630
<br />12
<br />TEMPORARY STAFFING
<br />0
<br />0
<br />2,999
<br />4,000
<br />(100)
<br />0
<br />0
<br />0
<br />0
<br />OFFICE SUPPLIES
<br />5,229
<br />66,505
<br />93,750
<br />125,000
<br />(29)
<br />5,592
<br />92,010
<br />(25,505)
<br />(28)
<br />ELECTRIC & WATER CONSUMPTI
<br />2,480
<br />20,996
<br />29,999
<br />40,000
<br />(30)
<br />2,472
<br />22,670
<br />(1,674)
<br />(7)
<br />BANK FEES
<br />207
<br />2,028
<br />1,874
<br />2,500
<br />8
<br />115
<br />1,346
<br />681
<br />51
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