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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 OCTOBER 2023
<br />2023 2023 2023 YTD 2023 YTD 2023 2022 2022 YTD 2022 v.
<br />OCTOBER YTD YTD Budget Bud Var%o ANNUAL OCTOBER YTD VARIANCE 2023 Actual
<br />Electric BUDGET Variance BUDGET Var%o Variance
<br />Item
<br />Revenue
<br />Operating Revenue
<br />Elk River
<br />Otsego
<br />Rural Big Lake
<br />Dayton
<br />Public St & Hwy Lighting
<br />Other Electric Sales
<br />Total Operating Revenue
<br />Other Operating Revenue
<br />Interest/Dividend Income
<br />Customer Penalties
<br />LFG Project
<br />Connection Fees
<br />Misc Revenue
<br />Total Other Revenue
<br />Total Revenue
<br />Expenses
<br />Purchased Power
<br />Operating & Mtce Expense
<br />Landfill Gas
<br />Transmission Expense
<br />Distribution Expense
<br />Maintenance Expense
<br />Depreciation & Amortization
<br />Interest Expense
<br />Other Operating Expense
<br />Customer Accounts Expense
<br />Administrative Expense
<br />General Expense
<br />Total Expenses(before Operating Transfers)
<br />Operating Transfer
<br />Operating Transfer/Other Funds
<br />Utilities & Labor Donated
<br />Total Operating Transfer
<br />Net Income Profit(Loss)
<br />3,438,999
<br />33,819,331
<br />35,290,187
<br />(1,470,856)
<br />(4)
<br />42,041,326
<br />3,204,270
<br />31,327,280
<br />2,492,051
<br />8
<br />317,215
<br />3,205,260
<br />2,851,903
<br />353,357
<br />12
<br />3,385,657
<br />288,488
<br />2,821,515
<br />383,745
<br />14
<br />15,590
<br />185,005
<br />200,491
<br />(15,486)
<br />(8)
<br />238,658
<br />15,791
<br />170,858
<br />14,147
<br />8
<br />19,688
<br />230,140
<br />241,571
<br />(11,431)
<br />(5)
<br />285,471
<br />19,133
<br />210,858
<br />19,283
<br />9
<br />21,618
<br />215,819
<br />216,667
<br />(847)
<br />(0)
<br />260,000
<br />21,671
<br />215,256
<br />563
<br />0
<br />400
<br />4,000
<br />4,000
<br />0
<br />0
<br />4,800
<br />(111,314)
<br />1,311,928 0
<br />(1,307,928)
<br />(1)
<br />3,813,510
<br />37,659,556
<br />38,804,819
<br />(1,145,263)
<br />(3)
<br />46,215,912
<br />3,438,040
<br />36,057,696
<br />1,601,860
<br />4
<br />16,041
<br />87,176
<br />41,667
<br />45,509
<br />-
<br />50,000
<br />(15,571)
<br />(196,710)�
<br />283,886 -(2)
<br />24,786
<br />259,595
<br />208,333
<br />51,261
<br />250,000
<br />24,793
<br />237,775
<br />21,819 9
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />89,471
<br />849,853 849,853) (3)
<br />16,375
<br />116,731
<br />183,333
<br />(66,602)
<br />220,000
<br />25,468
<br />178,463
<br />,(61,732) (4)
<br />108,108
<br />1,113,576
<br />778,526 `,
<br />335,050
<br />936,231
<br />156,473
<br />1,065,998
<br />47,578 4 (5)
<br />165,310
<br />1,577,078
<br />1,211,859
<br />365,219
<br />30
<br />1,456,231
<br />280,634
<br />2,135,380
<br />(558,302) (26)
<br />3,978,820
<br />39,236,633
<br />40,016,678
<br />(780,045)
<br />(2)
<br />47,672,143
<br />3,718,674
<br />38,193,075
<br />1,043,558 3
<br />2,392,762
<br />27,037,207
<br />28,125,080
<br />(1,087,874)
<br />(4)
<br />32,766,025
<br />2,212,211
<br />27,087,319
<br />(50,112) (0)
<br />19,323
<br />268,814
<br />254,567
<br />14,248
<br />6
<br />321,000
<br />20,908
<br />200,470 W 68,345 (6)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />57,381
<br />553,777
<br />553,777) (7)
<br />5,426
<br />54,857
<br />58,333
<br />(3,477)
<br />(6)
<br />70,000
<br />4,533
<br />54,030
<br />826 2
<br />31,136
<br />367,800
<br />305,875
<br />369,466
<br />29,623
<br />300,959
<br />66,841 -(8)
<br />118,264
<br />1,388,570
<br />1,277,250
<br />111,320
<br />9
<br />1,540,500
<br />119,639
<br />1,238,313
<br />150,257 12
<br />264,795
<br />2,636,965
<br />2,670,290
<br />(33,325)
<br />(1)
<br />3,220,836
<br />286,157
<br />2,534,753
<br />102,212 4
<br />66,412
<br />678,008
<br />678,008
<br />0
<br />0
<br />810,832
<br />69,425
<br />707,460
<br />(29,452) (4)
<br />4,247
<br />59,451
<br />26,904 JJW 3a„
<br />74,109
<br />18,343
<br />51,827
<br />7,624 15 (9)
<br />41,807
<br />364,114
<br />334,583
<br />29,531
<br />9
<br />401,500
<br />37,484
<br />326,795
<br />37,319 11
<br />280,594
<br />3,164,759
<br />3,418,545
<br />(253,786)
<br />(7)
<br />4,128,585
<br />278,448
<br />3,054,299
<br />110,460 4
<br />23,572
<br />316,352
<br />485,508 r'
<br />(169,15
<br />582,609
<br />43,758
<br />355,180
<br />(38,828) (11) (10)
<br />3,248,336
<br />36,336,896
<br />37,634,943
<br />(1,298,047)
<br />(3)
<br />44,285,462
<br />3,177,910
<br />36,465,181
<br />(128,284) (0)
<br />138,257
<br />1,392,338
<br />1,411,607
<br />(19,270)
<br />(1)
<br />1,681,653
<br />128,872
<br />1,288,392
<br />103,946
<br />8
<br />19,301
<br />215,742
<br />200,000
<br />15,742
<br />8
<br />240,000
<br />20,517
<br />191,256
<br />24,486
<br />13
<br />157,558
<br />1,608,080
<br />1,611,607
<br />(3,528)
<br />(0)
<br />1,921,653
<br />149,389
<br />1,479,648
<br />128,432
<br />9
<br />572,925
<br />1,291,657
<br />770,128
<br />521,530
<br />68
<br />1,465,028
<br />391,374
<br />248,247
<br />1,043,410
<br />420
<br />Item Variance of+/- $25,000 and+/- 15%
<br />(1) PYTD variance is due to accrual of PCA revenue in 2022 (See Rate Increase on Detailed Statement).
<br />(2) Budget variance is due to conservative budgeted amount. PYTD variance is due to the change in Fair Market Value of Investments.
<br />(3) PYTD variance is due to the LFG Project coming to an end in 2022.
<br />(4) YTD Budget and PYTD variance is due to less than average connection fees in 2023.
<br />(5) YTD Budget variance is mainly due to a conservative budgeted amount for contribution from customers.
<br />(6) PYTD variance is mainly due to increased labor for snow removal, additional supplies and increased electric and natural gas expense for new field services building in 2023.
<br />(7) PYTD variance is due to the LFG Project coming to an end in 2022.
<br />(8) YTD Budget and PYTD variance is mainly due to increased labor (inventory, tool repair, maintenance of rubber goods, electrical apparatus maintenance/repair, and grounds
<br />testing/maintenance), tools and uniform expense in 2023.
<br />(9) YTD Budget variance is mainly due to increased interest rate on deposits.
<br />(10) YTD Budget variance is mainly due to less rebate dollars spent than budgeted.
<br />-0
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