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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> STATEMENT OF NET POSITION-CONTINUED
<br /> DECEMBER 31,2014
<br /> Electric Water Total
<br /> CURRENT LIABILITIES
<br /> Accounts payable $ 2,122,953 $ 385,061 $ 2,508,014
<br /> Salaries and benefits payable 150,914 22,780 173,694
<br /> Accrued interest payable 58,867 29,337 88,204
<br /> Due to other City funds 612,080 17,951 630,031
<br /> Due to other governments 129,298 2,700 131,998
<br /> Customer deposits payable 452,162 36,311 488,473
<br /> Unearned revenue - 73,631 73,631
<br /> Compensated absences-current portion 58,906 24,985 83,891
<br /> Notes payable-current portion 191,518 - 191,518
<br /> Bonds payable-current portion 672,000 228,000 900,000
<br /> TOTAL CURRENT LIABILITIES 4,448,698 820,756 5,269,454
<br /> NON-CURRENT LIABILITIES
<br /> Net other postemployment benefits liability 54,932 - 54,932
<br /> Compensated absences-less current portion 153,350 65,045 218,395
<br /> Notes payable-less current portion 1,408,358 - 1,408,358
<br /> Bonds payable,net-less current portion 3,733,556 1,869,677 5,603,233
<br /> TOTAL NON-CURRENT LIABILITIES 5,350,196 1,934,722 7,284,918
<br /> TOTAL LIABILITIES 9,798,894 2,755,478 12,554,372
<br /> NET POSITION
<br /> Net investment in capital assets 20,876,440 19,341,763 40,218,203
<br /> Restricted for debt service 490,500 - 490,500
<br /> Unrestricted 11,602,113 3,744,773 15,346,886
<br /> TOTAL NET POSITION $ 32,969,053 $ 23,086,536 $ 56,055,589
<br /> The notes to the financial statements are an integral part of this statement.
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