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Minnesota Municipal Power Agency I Quarterly Report
<br /> 3rd Quarter 2014
<br /> Statements of Net Position(unaudited) September 30 September 30
<br /> 2014 2013
<br /> Assets
<br /> Current Assets:
<br /> Cash &Investments-Unrestricted $ 37,990,437 $ 30,373,801
<br /> Cash &Investments-Restricted 12,652,395 13,033,214
<br /> Receivables 9,402,372 13,008,460
<br /> Other Current Assets 4,172,716 2,929,326
<br /> Total Current Assets 64,217,920 59,344,801
<br /> Noncurrent Assets& Deferred Outflows:
<br /> Cash &Investments-Restricted 27,705,517 39,984,039
<br /> Net Plant in Service 265,895,460 237,618,951
<br /> Construction in Progress 10,396,036 36,071,795
<br /> Deferred Outflows 54,260 —
<br /> Future Recoverable Costs 33,783,611 29,291,086
<br /> Other Noncurrent Assets 568,919 599,625
<br /> Total Assets&Deferred Outflows $402,621,723 $402,910,297
<br /> Liabilities, Deferred Inflows& Net Position
<br /> Current Liabilities:
<br /> Accounts Payable and Accrued Liabilities $ 9,506,978 $ 16,242,873
<br /> Interest&Principal Payable 12,646,434 14,245,504
<br /> Other Current Liabilities 859,303 759,689
<br /> Total Current Liabilities 23,012,715 31,248,066
<br /> Long-Term Liabilities&Deferred Inflows:
<br /> Long-Term Debt, Net 274,246,567 276,063,143
<br /> Capital Lease Liability 20,984,718 21,789,761
<br /> Deferred Inflows 36,638,725 32,780,249
<br /> Total Long-Term Liabilities and Deferred Inflows 331,870,010 330,633,153
<br /> Net Position 47,738,998 41,029,078
<br /> Total Liabilities, Deferred Inflows& Net Position $402,621,723 $402,910,297
<br /> Statement of Revenues, Expenses and
<br /> Changes in Net Position(unaudited)as of September 30,2014
<br /> Quarter ended Quarter ended 2014 2013
<br /> September 30 September 30 Year To Date Year To Date
<br /> 2014 2013
<br /> Operating Revenues $ 29,827,400 $ 33,039,426 $ 81,005,073 $82,044,680
<br /> Operating Expenses:
<br /> Operating Expenses 20,918,046 20,773,751 58,976,206 59,432,781
<br /> Depreciation 2,891,948 2,538,276 8,691,459 7,609,396
<br /> Total Operating Expenses 23,809,994 23,312,027 67,667,665 67,042,177
<br /> Operating Income 6,017,406 9,727,399 13,337,408 15,002,503
<br /> Non-operating (Income) Expenses:
<br /> Other Income (420,623) (254,144) (1,051,333) (779,277)
<br /> Loss on Disposition of Property — 2,662,317 — 2,662,317
<br /> Interest Expense 3,684,410 3,563,041 11,076,256 10,696,991
<br /> Future Recoverable Costs (1,069,193) (1,150,139) (3,215,917) (3,458,286)
<br /> Change in Net Position $ 3,822,812 $ 4,906,324 $ 6,528,402 $ 5,880,758
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