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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 MAY 2024
<br />2024
<br />2024
<br />2024
<br />YTD
<br />2024 YTD
<br />2024
<br />2023
<br />2023
<br />YTD
<br />2023 v. 2024 Variance
<br />MAY
<br />YTD
<br />YTD
<br />Budget
<br />Bud Var%
<br />ANNUAL
<br />MAY
<br />YTD
<br />VARIANCE
<br />Actual Var% Item
<br />Water
<br />BUDGET
<br />Variance
<br />BUDGET
<br />Revenue
<br />Operating Revenue
<br />Water Sales
<br />193,866
<br />779,491
<br />656,661
<br />122,830
<br />-
<br />2,788,003
<br />158,173
<br />723,373
<br />56,119
<br />8% (1)
<br />Total Operating Revenue
<br />193,866
<br />779,491
<br />656,661
<br />122,830
<br />19%
<br />2,788,003
<br />158,173
<br />723,373
<br />56,119
<br />8%
<br />Other Operating Revenue
<br />Interest/DividendIncome
<br />6,875
<br />25,922
<br />17,292
<br />8,630
<br />50%
<br />41,500
<br />1,090
<br />14,103
<br />11,819
<br />84%
<br />Customer Penalties
<br />2,254
<br />8,792
<br />10,417
<br />(1,624)
<br />-16%
<br />25,000
<br />1,188
<br />6,148
<br />2,644
<br />43%
<br />Connection Fees
<br />11,740
<br />186,960
<br />106,250
<br />80,710 -
<br />255,000
<br />32,540
<br />93,916
<br />(2)
<br />Misc Revenue
<br />975
<br />5,721
<br />6,479
<br />(758)
<br />-12%
<br />618,786
<br />975
<br />6,060
<br />(339)
<br />-6%
<br />Total Other Revenue
<br />21,845
<br />227,395
<br />140,438
<br />86,957
<br />62%
<br />940,286
<br />35,793
<br />120,227
<br />107,168
<br />89%
<br />Total Revenue
<br />215,710
<br />1,006,886
<br />797,098
<br />209,788
<br />26%
<br />3,728,289
<br />193,966
<br />843,599
<br />163,287
<br />19%
<br />Expenses
<br />Production Expense
<br />14,016
<br />56,845
<br />47,917
<br />8,928
<br />19%
<br />115,000
<br />11,255
<br />48,407
<br />8,438
<br />17%
<br />Pumping Expense
<br />33,222
<br />216,271
<br />269,030
<br />645,671
<br />57,122
<br />234,201
<br />(17,930)
<br />-8% (3)
<br />Distribution Expense
<br />37,450
<br />150,966
<br />191,460
<br />422,250
<br />31,883
<br />150,525
<br />441
<br />0% (4)
<br />Depreciation & Amortization
<br />100,651
<br />503,890
<br />478,750
<br />25,140
<br />5%
<br />1,148,988
<br />97,652
<br />487,424
<br />16,466
<br />3%
<br />Interest Expense
<br />2,912
<br />14,562
<br />14,562
<br />0
<br />0%
<br />33,949
<br />3,112
<br />15,562
<br />(1,000)
<br />-6%
<br />Other Operating Expense
<br />80
<br />563
<br />1,375
<br />(812)
<br />-59%
<br />82,300
<br />253
<br />2,308
<br />(1,745)
<br />-76%
<br />Customer Accounts Expense
<br />8,608
<br />37,952
<br />38,229
<br />(277)
<br />-1%
<br />91,750
<br />7,134
<br />36,723
<br />1,229
<br />3%
<br />Administrative Expense
<br />89,594
<br />424,138
<br />472,386
<br />(48,247)
<br />-10%
<br />1,092,624
<br />91,526
<br />424,186
<br />(48)
<br />0%
<br />General Expense
<br />324
<br />1,296
<br />6,354
<br />(5,058)
<br />-80%
<br />15,250
<br />232
<br />3,389
<br />(2,093)
<br />-62%
<br />Total Expenses(before Operating Transfers)
<br />286,856
<br />1,406,485
<br />1,520,062
<br />(113,578)
<br />-7%
<br />3,647,782
<br />300,170
<br />1,402,726
<br />3,758
<br />0%
<br />Operating Transfer
<br />Utilities & Labor Donated
<br />0
<br />0
<br />625
<br />(625)
<br />-100%
<br />1,500
<br />0
<br />0
<br />0
<br />0%
<br />Total Operating Transfer
<br />0
<br />0
<br />625
<br />(625)
<br />-100%
<br />1,500
<br />0
<br />0
<br />0
<br />0%
<br />Net IncomeProrit(Loss)
<br />(71,145)
<br />(399,598)
<br />(723,589)
<br />323,991
<br />45%
<br />79,007
<br />(106,204)
<br />(559,127)
<br />159,528
<br />29%
<br />Item Variance of+/- $15,000 and +/- 15%
<br />(1) YTD budget variance is due to above average usage.
<br />(2) YTD budget and PYTD variance due to large 2 large connection agreements in January 2024.
<br />(3) YTD budget variance is mainly due to Electric usage being lower at
<br />Well 7 and Well
<br />9 due to maintenance
<br />issues.
<br />(4) YTD budget variance is mainly due to the budget amount for Mtee of Water Mains having an even budget spread.
<br />W.
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