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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 />ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
<br />FOR PERIOD ENDING JULY 2024
<br />2024 2024 2024 YTD 2024 YTD 2024 2023 2023 YTD 2023 v. 2024 Variance
<br />JULY YTD YTD Budget Bud Var% ANNUAL JULY YTD VARIANCE Actual Vat% Item
<br />BUDGET Variance BUDGET
<br />3,286,965
<br />20,858,325
<br />24,044,947
<br />(3,186,623)
<br />-13.3%
<br />42,685,299
<br />3,934,757
<br />22,343,852
<br />(1,485,528)
<br />-6.6%
<br />338,894
<br />2,082,825
<br />1,933,696
<br />149,129
<br />7.7%
<br />3,514,568
<br />366,955
<br />2,064,854
<br />17,971
<br />0.9%
<br />16,360
<br />114,457
<br />139,965
<br />(24,507)
<br />17.6%
<br />243,412
<br />19,959
<br />123,859
<br />(9,402)
<br />-7.6`!/0
<br />21,208
<br />138,689
<br />166,156
<br />292,752
<br />26,029
<br />152,294
<br />(13,605)
<br />-8.9% (1)
<br />21,710
<br />152,027
<br />151,667
<br />360
<br />0.2%
<br />260,000
<br />21,555
<br />150,988
<br />1,039
<br />0.7%
<br />400
<br />2,800
<br />2,800
<br />0
<br />0.0%
<br />4,800
<br />400
<br />2,800
<br />0
<br />0.0%
<br />3,685,538
<br />23,349,122
<br />26,438,231
<br />(3,089,108)
<br />11.7%
<br />47,000,831
<br />4,369,654
<br />24,838,647
<br />(1,489,525)
<br />-6.0%
<br />61,555
<br />163,433
<br />49,583
<br />113,849
<br />85,000
<br />22,528
<br />56,584
<br />106,849 �(2)
<br />31,208
<br />151,266
<br />166,250
<br />(14,994) -9.0%
<br />285,000
<br />23,187
<br />162,806
<br />(11,539) -7.1%
<br />72,806
<br />223.657
<br />78,750
<br />144,907
<br />135,000
<br />15,100
<br />72.941
<br />150,716 (3)
<br />122,278
<br />887,901
<br />591,933
<br />296,069
<br />1,016,000
<br />90,103
<br />741,995
<br />145,907 (4)
<br />287,848
<br />1,426,257
<br />886.417
<br />539,841 60.9%
<br />1,521,000
<br />150,919
<br />1,034,325
<br />391,932 37.9%
<br />3,973,385
<br />24,775,390
<br />27,324,647
<br />(2,549,267) -9.3%
<br />48,521,831
<br />4,520,573
<br />25,872,972
<br />(1,097,592) -4.2%
<br />3,234,950
<br />16,651,168
<br />18,753,567
<br />(2,102,399)
<br />-11.2%
<br />32,756,447
<br />3,446,904
<br />18,223,874
<br />(1,572,706)
<br />-8.6%
<br />19,023
<br />157,022
<br />219,317
<br />369,000
<br />17,451
<br />207,191
<br />(5)
<br />4,324
<br />34,832
<br />42,000
<br />(7,168)
<br />-17.1%
<br />72,000
<br />5,250
<br />38,229
<br />(3,397)
<br />-8.9%
<br />35,410
<br />283,535
<br />247,042
<br />36,493
<br />14.8%
<br />425,917
<br />27,360
<br />278,996
<br />4,538
<br />1.6%
<br />128,758
<br />1,152,785
<br />1,017,125
<br />135,660
<br />13.3%
<br />1,668,500
<br />112,441
<br />947,043
<br />(6)
<br />275,048
<br />1,926,123
<br />1,812,776
<br />113,347
<br />6.3%
<br />3,107,612
<br />262,485
<br />1,844,533
<br />81,589
<br />4.4%
<br />65,175
<br />457,459
<br />457,459
<br />0
<br />0.0%
<br />785,810
<br />68,225
<br />478,772
<br />(21,313)
<br />-4.5%
<br />8,329
<br />42,253
<br />32,725
<br />9,528
<br />29.1 %
<br />506,900
<br />17,296
<br />42,290
<br />(36)
<br />-0.1`yo
<br />36,660
<br />242,505
<br />256,083
<br />(13,578)
<br />-5.3%
<br />439,000
<br />33,849
<br />250.770
<br />(8,265)
<br />-3.3%
<br />289,236
<br />2,343,123
<br />2,471,777
<br />(128,653)
<br />-5.2%
<br />4,208,492
<br />272,526
<br />2,278,525
<br />64,598
<br />2.8%
<br />39,434
<br />306,030
<br />371.583
<br />637,000
<br />25,076
<br />221.306
<br />84,725
<br />�(7)
<br />4,136,344
<br />23,596,836
<br />25,681,454
<br />(2,084,618)
<br />-8.1%
<br />44,976,679
<br />4,288,762
<br />24,811,528
<br />(1,214,692)
<br />-4.9%
<br />Operating Transfer
<br />Operating Transfer/Other Funds 132,179 839,241 961,798 (122,557) -12.7%
<br />1,707,412
<br />158,087
<br />931,229
<br />(91,989) -9.9%
<br />Utilities & Labor Donated 19,009 130,673 154.000 (23,327) -15.1 %
<br />264,000
<br />17,643
<br />159.462
<br />(28,799) (8)
<br />Total Operating Transfer 151,189 969,913 1,115,798 (145,884) -13.1%
<br />1,971,412
<br />175,729
<br />1,090,691
<br />(120,777) -11.1%
<br />Net IncomeProfit(Loss) (314,148) 208,630 527.395 (318,765) -60.4%
<br />1,573,740
<br />56,082
<br />(29,247)
<br />237,877 813.3%
<br />Item Variance of+/- $25,000 and +/- 15%
<br />(1) YTD budget variance is mainly due to decreased residential usage.
<br />(2) YTD budget variance is due to conservative budgeted amount. PYTD variance is due to the change in Pair Market Value of Investments.
<br />More fiords were transferred
<br />to UBS/invested
<br />in 2024.
<br />(3) YTD budget and PYTD variance due to large a large connection agreement in January and July 2024.
<br />(4) YTD budget and PTYD variance is mainly due to Contributions from Customers having a couple large SOW for transformers for additional
<br />service and/or upgrade.
<br />(5) YTD budget variance and PYTD variance is due to most expense accounts being favorable to budget and less than prior year.
<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, Mtee of Line Transformers, Transportation,
<br />Electric Mapping, and Mtce of Street Lighting.
<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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