|
Minnesota Municipal Power Agency
<br /> Statements of Net Position
<br /> December 31 December 31
<br /> Assets 2013 2012
<br /> Current assets:
<br /> Cash and cash equivalents $ 41,035,465 33,442,632
<br /> Restricted cash and cash equivalents 5,633,179 5,039,754
<br /> Grant receivable — 24,299
<br /> Accrued interest receivable 216,141 210,934
<br /> Power sales receivables 8,327,246 8,282,040
<br /> Other receivable 2,081,549 899,494
<br /> Fuel inventory 935,017 494,027
<br /> Plant inventory—spares 1,610,280 1,406,814
<br /> Prepaid expenses 564,324 550,418
<br /> Total current assets 60,403,201 50,350,412
<br /> Noncurrent assets:
<br /> Capital assets:
<br /> Equipment 765,116 661,394
<br /> Capital lease asset 29,080,531 29,080,531
<br /> Land 1,132,083 1,140,665
<br /> Electric plant 303,409,822 262,036,603
<br /> Rotable combustion turbine parts 6,063,531 6,063,531
<br /> Less accumulated depreciation (64,035,094) (53,885,376)
<br /> Property and equipment, net 276,415,989 245,097,348
<br /> Construction in progress 4,598,781 12,745,248
<br /> Total capital assets, net 281,014,770 257,842,596
<br /> Restricted cash and cash equivalents 283,156 11,761,080
<br /> Restricted investments 22,072,759 19,945,133
<br /> Prepaid expenses 591,948 622,653
<br /> Future recoverable costs 30,425,628 25,649,748
<br /> Total noncurrent assets 334,388,261 315,821,210
<br /> Total assets 394,791,462 366,171,622
<br /> Deferred Outflows
<br /> Deferred outflows of resources — 98,140
<br /> Total assets and deferred outflows of resources $394,791,462 366,269,762
<br /> Liabilities
<br /> Liabilities:
<br /> Current liabilities:
<br /> Accounts payable and accrued liabilities $ 14,033,294 11,840,005
<br /> Retainage payable 1,147,679 —
<br /> Accrued interest payable 3,380,575 3,233,586
<br /> Long-term debt due within one year 8,058,334 6,333,333
<br /> Capital lease liability due within one year 770,782 727,359
<br /> Derivative instruments—futures — 98,140
<br /> Total current liabilities 27,390,664 22,232,423
<br /> Long-term debt, net 269,381,358 257,859,891
<br /> Capital lease liability 21,592,855 22,363,637
<br /> Total noncurrent liabilities 290,974,213 280,223,528
<br /> Total liabilities 318,364,877 302,455,951
<br /> Deferred Inflows
<br /> Deferred inflows of resources—rate stabilization 29,300,000 21,500,000
<br /> Deferred inflows of resources—other 5,915,990 7,165,491
<br /> Total liabilities and deferred inflows of resources 353,580,867 331,121,442
<br /> Net Position
<br /> Net position:
<br /> Net investment in capital assets 9,719,015 8,010,528
<br /> Restricted for debt service 5,733,585 5,143,346
<br /> Unrestricted 25,757,995 21,994,446
<br /> Total net position 41,210,595 35,148,320
<br /> Total liabilities and deferred inflows of resources
<br /> and net position $394,791,462 366,269,762
<br /> 22 2013 MMPA Annual Report
<br />
|