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Electric
<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 />Connection Fees
<br />Misc Revenue
<br />Total Other Revenue
<br />Total Revenue
<br />Expenses
<br />Purchased Power
<br />Operating & Mtce Expense
<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 />ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
<br />FOR PERIOD ENDING JUNE 2024
<br />2024 2024 2024 YTD 2024 YTD 2024 2023 2023 YTD 2023 v. 2024 Variance
<br />JUNE YTD YTD Budget Bud Var% ANNUAL JUNE YTD VARIANCE Actual Var% Item
<br />BUDGET Variance BUDGET
<br />3,311,783
<br />17,571,359
<br />19,854,920
<br />(2,283,561)
<br />(12)
<br />42,685,299
<br />3,886,613
<br />18,409,096
<br />(837,736)
<br />(5)
<br />314,597
<br />1,743,931
<br />1,593,993
<br />149,938
<br />9
<br />3,514,568
<br />374,625
<br />1,697,899
<br />46,032
<br />3
<br />15,177
<br />98,097
<br />116,709
<br />(18,613)
<br />(16)
<br />243,412
<br />19,878
<br />103,900
<br />(5,804)
<br />(6)
<br />18,562
<br />117,481
<br />138,060
<br />(20,579)
<br />(15)
<br />292,752
<br />25,520
<br />126,265
<br />(8,784)
<br />(7)
<br />21,725
<br />130,317
<br />130,000
<br />317
<br />0
<br />260,000
<br />21,625
<br />129,432
<br />885
<br />1
<br />400
<br />2,400
<br />2,400
<br />0
<br />0
<br />4,800
<br />400
<br />2,400
<br />0
<br />0
<br />3,682,244
<br />19,663,585
<br />21,836,082
<br />(2,172,498)
<br />(10)
<br />47,000,831
<br />4,328,660
<br />20,468,993
<br />(805,408)
<br />(4)
<br />34,275
<br />101,878
<br />42,500 `
<br />59,378
<br />85,000
<br />3,068
<br />34,055 =
<br />67,822�(1)
<br />17,799
<br />120,058
<br />142,500
<br />(22,442) (16)
<br />285,000
<br />20,399
<br />139,618
<br />(19,560) (14)
<br />20,425
<br />150,851
<br />67,500
<br />83,351
<br />135,000
<br />11,425
<br />57,841 PP
<br />93,010�(2)
<br />64,983
<br />765,624
<br />508,000
<br />257,623
<br />1,016,000
<br />174,938
<br />651,891
<br />113,732 (3)
<br />137,482
<br />1,138,410
<br />760,500
<br />377,910 50
<br />1,521,000
<br />209,830
<br />883,406
<br />255,004 29
<br />3,819,727
<br />20,801,995
<br />22,596,582
<br />(1,794,588) (8)
<br />48,521,831
<br />4,538,490
<br />21,352,399
<br />(550,404) (3)
<br />2,756,342
<br />13,416,219
<br />15,165,459
<br />(1,749,240) (12)
<br />32,756,447
<br />3,429,531
<br />14,777,070
<br />(1,360,851)
<br />(9)
<br />16,177
<br />137,999
<br />193,250 r
<br />(55,251)-
<br />369,000
<br />18,547
<br />189,739
<br />(4)
<br />5,034
<br />30,508
<br />36,000
<br />(5,492) (15)
<br />72,000
<br />6,560
<br />32,979
<br />(2,471)
<br />(7)
<br />26,403
<br />248,125
<br />211,750
<br />36,375
<br />425,917
<br />30,863
<br />251,636
<br />(3,511)
<br />(1) (5)
<br />153,321
<br />1,024,027
<br />896,250
<br />127,777 14
<br />1,668,500
<br />104,051
<br />834,602
<br />(6)
<br />275,101
<br />1,651,074
<br />1,553,808
<br />97,266 6
<br />3,107,612
<br />261,223
<br />1,582,048
<br />69,026
<br />4
<br />65,175
<br />392,285
<br />392,285
<br />0 0
<br />785,810
<br />68,225
<br />410,547
<br />(18,263)
<br />(4)
<br />5,020
<br />33,924
<br />28,050
<br />5,874 21
<br />506,900
<br />4,227
<br />24,994
<br />8,930
<br />36
<br />35,888
<br />205,846
<br />219,500
<br />(13,654) (6)
<br />439,000
<br />30,091
<br />216,921
<br />(11,076)
<br />(5)
<br />302,345
<br />2,053,887
<br />2,149,497
<br />(95,609) (4)
<br />4,208,492
<br />297,018
<br />2,005,999
<br />47,888
<br />2
<br />63,050
<br />266,597
<br />318,500
<br />(51,903)1
<br />637,000
<br />40,130
<br />196,230
<br />161
<br />(7)
<br />3,703,856
<br />19,460,492
<br />21,164,348
<br />(1,703,856) (8)
<br />44,976,679
<br />4,290,464
<br />20,522,766
<br />(1,062,274)
<br />(5)
<br />133,173
<br />707,061
<br />794,197
<br />(87,136)
<br />(11)
<br />1,707,412
<br />156,164
<br />773,143
<br />(66,081) (9)
<br />20,024
<br />111,664
<br />132,000
<br />(20,336)
<br />(15)
<br />264,000
<br />18,046
<br />141,819
<br />(30,155)(8)
<br />153,197
<br />818,725
<br />926,197
<br />(107,472)
<br />(12)
<br />1,971,412
<br />174,209
<br />914,962
<br />(96,237) (11)
<br />(37,326)
<br />522,778
<br />506,038
<br />16,741
<br />3
<br />1,573,740
<br />73,817
<br />(85,329)
<br />608,107 713
<br />Item Variance of+/- $25,000 and+/- 15%
<br />(1) YTD budget variance is due to conservative budgeted amount. PYTD variance is due to the change in Fair Market Value of Investments. Also more funds were transferred to UBS in May 2024.
<br />(2) YTD budget and PYTD variance due to large a large connection agreement in January 2024.
<br />(3) YTD budget and PTYD variance is mainly due to Contributions from Customers having a couple large SOW for transformers for additional service and/or upgrade.
<br />(4) YTD budget variance and PYTD variance is due to most expense accounts being favorable to budget and less than prior year.
<br />(5) YTD budget variance is mainly due to Misc Distribution (labor).
<br />(6) PYTD variance is mainly due to increased tree trimming expense (contractors and ERMU labor), increased 2024 labor expense for: Mtce of Substation Equipment, Mtce of URD Primary, Mtce of Street Lighting, Transportation, and
<br />Electric Mapping.
<br />(7) YTD budget variance is mainly due to timing of rebates and the budget having an even spread. PYTD variance is due to professional services from Frontier Energy in 2024.
<br />(8) PYTD variance is due to Furniture & Things energy audit in 2023.
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