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Exhibit 2-A
<br />2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
<br />OPERATING REVENUES
<br />Charges for services 36,573,483$ 39,473,717$ 42,355,712$ 43,986,269$ 42,557,925$ 46,622,070 47,328,340$ 48,652,347$ 48,867,438$ 49,084,240$
<br />LFG project 1,141,482 1,019,097 935,004 - - - - - - -
<br />Generation credit 4,800 4,800 4,800 4,800 4,800 4,800 4,800 4,800 4,800 4,800
<br />Connection maintenance 160,186 263,330 243,088 151,296 317,234 150,000 255,000 255,000 255,000 255,000
<br />Customer penalties 42,556 - 284,452 308,374 295,143 285,000 305,000 305,000 305,000 305,000
<br />Total Operating Revenues 37,922,507$ 40,760,944$ 43,823,056$ 44,450,739$ 43,175,102$ 47,061,870$ 47,893,140$ 49,217,147$ 49,432,238$ 49,649,040$
<br />OPERATING EXPENSES
<br />Purchased Power 24,240,440$ 28,169,146$ 31,544,604$ 31,232,788$ 28,590,698$ 31,019,478$ 31,596,071$ 32,060,510$ 32,532,005$ 33,017,341$
<br />Production 963,858 1,002,631 793,299 315,057 266,783 341,000 321,993 331,653 341,602 351,850
<br />Transmission and Distribution 1,494,841 1,583,165 2,015,665 2,224,113 2,437,569 2,742,000 2,605,000 2,683,150 2,763,645 2,846,554
<br />Services to City 229,086 224,814 231,861 253,564 229,359 265,000 - - - -
<br />Depreciation 2,896,839 2,957,685 3,062,751 3,177,120 3,317,829 3,339,552 3,533,136 3,801,373 3,955,671 4,107,101
<br />Customer accounts 346,090 337,760 391,238 433,553 430,396 470,000 435,000 448,050 461,492 475,336
<br />General and administrative 3,787,850 3,350,641 4,372,187 4,421,557 4,718,264 5,906,049 5,719,200 5,890,776 6,067,499 6,249,524
<br />Total Operating Expenses 33,959,004$ 37,625,842$ 42,411,605$ 42,057,752$ 39,990,898$ 44,083,079$ 44,210,400$ 45,215,511$ 46,121,914$ 47,047,707$
<br />OPERATING INCOME 3,963,503$ 3,135,102$ 1,411,451$ 2,392,987$ 3,184,204$ 2,978,791$ 3,682,739$ 4,001,636$ 3,310,324$ 2,601,333$
<br />NON-OPERATING REVENUE (EXPENSE)
<br />Interest income 134,468$ 52,514$ (159,502)$ 158,310$ 338,157$ 350,000$ 350,000 350,000 350,000 350,000
<br />Miscellaneous revenue 547,009 635,764 906,323 928,553 925,800 712,500 793,000 793,000 793,000 793,000
<br />Interest expense and other (606,313) (836,474) (851,199) (811,210) (773,748) (735,069) (699,543) (678,256) (671,606) (631,606)
<br />Gain (Loss) on sale of capital assets 23,263 (45,214) 41,938 59,556 (16,154) 25,000 25,000 25,000 25,000 25,000
<br />Total Non-Operating Revenues (Expenses)98,427$ (193,410)$ (62,440)$ 335,209$ 474,055$ 352,431$ 468,457$ 489,744$ 496,394$ 536,394$
<br />Income before Contributions and Transfers 4,061,930$ 2,941,692$ 1,349,011$ 2,728,196$ 3,658,259$ 3,331,222$ 4,151,196$ 4,491,379$ 3,806,718$ 3,137,727$
<br />Contributions from Customers 174,557$ 385,316$ 298,935$ 489,452$ 690,934$ 225,000$ 350,000$ 350,000 350,000 350,000
<br />Transfers to Other City Funds (1,340,218) (1,407,734) (1,531,633) (1,620,378) (1,527,629) (1,908,429)$ (2,106,111)$ (2,165,029)$ (2,174,601)$ (2,184,249)$
<br />Special Item - - - - -
<br />CHANGE IN NET POSITION 2,896,269$ 1,919,274$ 116,313$ 1,597,270$ 2,821,564$ 1,647,793$ 2,395,085$ 2,676,350$ 1,982,117$ 1,303,478$
<br />As Percent of Revenues 7.6%4.7%0.3%3.6%6.5%3.5%5.0%5.4%4.0%2.6%
<br />CASH RESERVES
<br />Beginning of Year 13,014,941$ 13,800,000$ 11,573,843$ 12,030,728$ 10,722,575$
<br />Plus Change in Net Position 1,647,793 2,395,085 2,676,350 1,982,117 1,303,478
<br />Plus Depreciation 3,339,552 3,533,136 3,801,373 3,955,671 4,107,101
<br />Plus Interfund Borrowing - 1,400,000 - (1,400,000) -
<br />Less Capital Improvements (7,455,754) (8,047,103) (4,628,954) (4,542,896) (4,381,166)
<br />Less Loss of Revenue Payments (935,000) (472,275) (316,884) (198,046) (100,816)
<br />Less Debt Principal (990,000) (1,035,000) (1,075,000) (1,105,000) (1,140,000)
<br />End of Year(1)13,014,941$ 13,800,000$ 11,573,843$ 12,030,728$ 10,722,575$ 10,511,172$
<br />Existing Reserve goal 18,392,897$ 18,432,831$ 18,623,699$ 18,769,766$ 18,924,065$
<br />Percent of goal 75%63%65%57%56%
<br />(1) 2025 EOY reserve balance estimated by ERMU staff based on 2025 YTD actual results.
<br />Projected
<br />Elk River Municipal Utilities
<br />Electric Operating Results at Existing Rates
<br />Historical
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