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Elk River Municipal Utilities - Reserves Policy 4/2023 Proposed <br />ERMU Electric Fund - 61 <br />Description <br />Annual <br />Average Monthly <br />2023 Budgeted Expenditures <br />$ <br />46,207,114 <br />$ <br />3,850,593 <br />2023 Budgeted Interest Expense <br />$ <br />870,695 <br />$ <br />72,558 <br />2023 Budgeted Depreciation <br />$ <br />3,220,836 <br />$ <br />268,403 <br />2023 Budgeted Purchased Power Cost <br />$ <br />32,766,025 <br />$ <br />2,730,502 <br />2023 Budgeted Pricipal and Interest <br />$ <br />1,785,695 <br />n/a <br />2022 Peak Monthly Purchased Power Cost <br />$ <br />3,512,076 <br />$ <br />2,628,717 <br />2023 Reserves 1 12022 Reserves <br />2022 Audited Cash Balances $ 16,674,863 1 1 $ 23,459,971 <br />Unrestricted <br />12023 Calculated Reserves <br />$ <br />9,190,976 $ 9,021,356 <br />Designated <br />12023 Proposed Calculated Reserves <br />$ <br />9,190,976 <br />Reserves <br />Restricted for <br />2023 Calculated Reserves <br />$ <br />1,779,016 $ 1,779,016 <br />Debt Service <br />12023 Proposed Calculated Reserves <br />$ <br />1,779,016 <br />Unrestricted <br />12023 Calculated Reserves <br />$ <br />5,704,871 $ 12,659,599 <br />Reserves <br />12023 Proposed Calculated Reserves <br />$ <br />5,704,871 <br />151 <br />