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Estherville audit released

By Staff | Mar 20, 2008

Brinkman & Reed, CPA’s Monday released an audit report on the Municipal Electric Utility department of the City of Estherville.

Brinkman & Reed reported the city’s sales of electrical energy decreased in 2007 to 59,581,274 kilowatt hours from 59,582,381 in 2006, a decrease of 1,107 kilowatt hours. Operating revenues from energy sales increased to $4,579,191 up $598,276 from 2006. Total operating revenues for 2007 were $4,837,662, an increase of $814,776 from the previous year.

Operating expenses in 2007 increased to $4,734,740 up from $3,670,116 in 2006 for an increase of $1,064,624. Energy purchases continue to be the largest single item of operating expense and totaled $2,719,370 up from $1,741,484 in 2006. The cost of purchased power, natural gas and fuel oil represented approximately 57.84 percent of the total operating costs in 2007 and 48.01 percent in 2006.

A copy of the audit report is available for review in the office of the auditor of state and the city clerk’s office.