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Elk River <br /> Municipal Utilities <br /> 13069 Orono Parkway phone: 763.441.2020 <br /> Elk River. MN 55330 Fax:763.441.8099 <br /> June 3,2004 <br /> To: Elk River Muncipal Utilities Commission <br /> Jerry Takle <br /> James Tralle <br /> John Dietz <br /> From: Bryan Adams <br /> Subject: Springstad Cash Flow Studies <br /> At our last months commission meeting,our auditors presented the results of their annual <br /> utility audit. One of their comments was that staff continue the cash flow studies which project <br /> future revenues and expenses to ensure we have adequate financial resources to carry on business. <br /> Attached for your review are updated Springstad cash flow studies for both the electric and water <br /> departments. These studies are updated twice annually, once after the annual audit and again <br /> when the budget is adopted. Staff will go over these studies in detail at our meeting. <br /> Our adopted 2004 budget contains a bond provision of$750,000 to pay for the construction of <br /> the electric feeder we are now doing plus the cost of relocating electric lines in Otsego due to Hwy <br /> 101 Interchange construction. The electric department cash flow study reflects a$900,000 bond <br /> in 2004. Staff recommends authorization be given to sell revenue bond for net proceeds of <br /> $900,000. <br />