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J~ <br />Elk River -~ <br />Municipal Utilities <br />13069 Orono Parkway • P.O. Box 430 <br />Elk River, MN 55330-0430 <br />November 6, 2007 <br />To:. Elk River Municipal Utilities Commission <br />Jerry Takle <br />Jerry Gumphrey <br />Jim Tralle <br />From: Bryan Adams <br />Subject: Proposed 2008 Budget <br />Phone: 763.441.2020 <br />Fax: 763.441.8099 <br />Attached is the proposed 2008 Elk River Municipal Utilities budget. We have spent the past few <br />months reviewing components of this budget. The proposed budget reflects the following <br />changes from your initial review and they are highlighted in yellow. <br />Personnel: Added .5 FTE accountant to assist the accounting area. Cost spread 25% water- <br />75%electric. <br />Expense: Decrease electric wholesale power costs by $160,372. <br />Decrease electric sales revenue by $160,372. <br />Made minor refinements to the expense budgets. <br />Capitals: Delay various capital electric projects as highlighted. Also fixed addition errors. <br />Upon adoption of this budget, next month the rate changes will be proposed to support this <br />budget. We still need to finalize Great River Energy's wholesale electric rate increase. This <br />budget assumes we only pass on only the wholesale rate increase at approximately 8% at the <br />retail level. The assumed water rate increase is 6%. Also included is a list of all our various fees <br />staff is reviewing. <br />