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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 />ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET
<br />POSITION
<br />FOR PERIOD ENDING SEPTEMBER 2024
<br />2024
<br />2024 2024 YTD 2024 YTD
<br />2024
<br />2023
<br />2023
<br />YTD
<br />2023 v. Variance
<br />SEPTEMBER
<br />YTD YTD Budget Bud Var%
<br />ANNUAL
<br />SEPTEMBER
<br />YTD
<br />VARIANCE
<br />2024 Actual Item
<br />BUDGET Variance
<br />BUDGET
<br />Var%
<br />3,873,523
<br />28,920,540 32,739,029 (3,818,489) (12)
<br />42,685,299
<br />4,173,390
<br />30,380,332
<br />(1,459,792)
<br />(5)
<br />379,058
<br />2,940,694 2,702,048 238,647 9
<br />3,514,568
<br />446,619
<br />2,888,045
<br />52,649
<br />2
<br />18,255
<br />158,034 190,195 W (32,160)-
<br />243,412
<br />25,137
<br />169,415
<br />(11,381)
<br />(7) (1)
<br />23,926
<br />195,315 229,781 (34,466) (15)
<br />292,752
<br />31,935
<br />210,453
<br />(15,138)
<br />(7)
<br />21,732
<br />195,497 195,000 497 0
<br />260,000
<br />21,611
<br />194,201
<br />1,296
<br />1
<br />400
<br />3,600 3,600 0 0
<br />4,800
<br />400
<br />3,600
<br />0
<br />0
<br />4,316,895
<br />32,413,680 36,059,652 (3,645,972) (10)
<br />47,000,831
<br />4,699,092
<br />33,846,046
<br />(1,432,366)
<br />(4)
<br />44,810
<br />276,985
<br />63,750 W
<br />213,235 -
<br />85,000
<br />4,668
<br />71,135
<br />205,850 -(2)
<br />29,770
<br />208,444
<br />213,750
<br />(5,306) (2)
<br />285,000
<br />39,991
<br />234,808
<br />(26,364) (11)
<br />11,025
<br />7
<br />101,250
<br />L
<br />162157
<br />=(4)
<br />235,565
<br />1,314,3013
<br />762,000
<br />552,313
<br />1,016,000
<br />114,657
<br />1,005:468
<br />308,845
<br />321,171
<br />2,063,149
<br />1,140,750
<br />922,399 81
<br />1,521,000
<br />174,786
<br />1,411,768
<br />651,382 46
<br />4,638,066
<br />34,476,830
<br />37,200,403 (2,723,573) (7)
<br />48,521,831
<br />4,873,877
<br />35,257,814
<br />(780,984) (2)
<br />2,824,043
<br />22,576,155
<br />25,910,529
<br />(3,334,373)
<br />(13)
<br />32,756,447
<br />2,891,327
<br />24,644,445
<br />(2,068,289)
<br />(8)
<br />19,184
<br />195,055
<br />270,300 = (75,245)-
<br />369,000
<br />17,757
<br />249,492 LL
<br />(54,437)-(5)
<br />2,890
<br />40,857
<br />54,000
<br />(13,143)
<br />(24)
<br />72,000
<br />5,406
<br />49,431
<br />(8,574)
<br />(17)
<br />33,886
<br />341,742
<br />317,625
<br />24,117
<br />8
<br />425,917
<br />26,734
<br />336,664
<br />5,078
<br />2
<br />88,733
<br />1,389,092
<br />1,258,875
<br />130,217
<br />10
<br />1,668,500
<br />123,833
<br />1,270,306
<br />118,786
<br />9
<br />275,083
<br />2,476,540
<br />2,330,712
<br />145,828
<br />6
<br />3,107,612
<br />263,868
<br />2,372,170
<br />104,370
<br />4
<br />63,258
<br />583,975
<br />583,975
<br />0
<br />0
<br />785,810
<br />66,412
<br />611,596
<br />(27,621)
<br />(5)
<br />3,996
<br />75,436
<br />197,875
<br />506,900
<br />4,265
<br />55,204
<br />20,233
<br />37 (6)
<br />40,622
<br />324,467
<br />329,250
<br />(4,783)
<br />(1)
<br />439,000
<br />36,129
<br />322,308
<br />2,160
<br />1
<br />348,211
<br />3,041,217
<br />3,147,190
<br />(105,974)
<br />(3)
<br />4,208,492
<br />303,660
<br />2,884,166
<br />157,051
<br />5
<br />88,205
<br />458,982
<br />477,750
<br />(18,767)
<br />(4)
<br />637,000
<br />41,692
<br />292,780 f
<br />166,203
<br />(7)
<br />3,788,111
<br />31,503,519
<br />34,878,081
<br />(3,374,562)
<br />(10)
<br />44,976,679
<br />3,781,084
<br />33,088,560
<br />(1,585,041)
<br />(5)
<br />Operating Transfer/Other Funds 155,643 1,163,133 1,309,561 (146,429) (11) 1,707,412 167,632
<br />1,254,081
<br />(90,948)
<br />(7)
<br />Utilities & Labor Donated 19,068 169,487 198,000 (28,513) (14) 264,000 18,646
<br />196,441
<br />(26,954)
<br />(14)
<br />Total Operating Transfer 174,710 1,332,620 1,507,561 (174,941) (12) 1,971,412 186,278
<br />1,450,522
<br />(117,902)
<br />(8)
<br />Net Income Profit(Loss) 675,245 1,640 691 814,761 825,931 101 1,573,740 906,515
<br />718,732
<br />921,959
<br />128
<br />Item Variance of+/- $25,000 and+/- 15%
<br />(1) YTD budget variance is mainly due to Big Lake Residential usage.
<br />(2) PYTD variance is due to the change in Fair Market Value of Investments. YTD budget variance due to conservative estimate and more funds being invested with UBS
<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 SOWs for transformers for additional 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) YTD budget variance is due to loss on disposition of property being budgeted for AMI project.
<br />(7) PYTD variance is due to professional services from Frontier Energy in 2024.
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