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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF NET POSITION - CONTINUED ON THE FOLLOWING PAGES
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2015
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred pension resources 51,179 2,269 34,733
<br />Deferred charge on refunding - - -
<br />TOTAL DEFERRED OUTFLOW OF RESOURCES 51,179 2,269 34,733
<br />LIABILITIES
<br />Municipal
<br />CURRENT LIABILITIES
<br />Liquor
<br />Garbage
<br />Sewer
<br />ASSETS
<br />Salaries payable
<br />8,455
<br />271 6,138
<br />CURRENT ASSETS
<br />67,337
<br />- -
<br />Due to other funds
<br />Cash and temporary investments
<br />$ 2,820,640
<br />$ 551,393
<br />$ 7,171,788
<br />Cash held with fiscal agent
<br />-
<br />-
<br />-
<br />Receivables (net)
<br />-
<br />- -
<br />Notes payable - current
<br />Accrued interest
<br />8,739
<br />1,598
<br />22,219
<br />Accounts
<br />-
<br />14,522
<br />358,517
<br />Due from other governments
<br />-
<br />-
<br />133,684
<br />Due from other funds
<br />-
<br />108,523
<br />320,686
<br />Inventories
<br />1,190,057
<br />-
<br />-
<br />Prepaid items
<br />-
<br />-
<br />-
<br />TOTAL CURRENT ASSETS
<br />4,019,436
<br />676,036
<br />8,006,894
<br />NONCURRENT ASSETS
<br />Capital assets
<br />Nondepreciable
<br />753,961
<br />-
<br />13,645,066
<br />Depreciable
<br />3,040,025
<br />-
<br />37,518,979
<br />Accumulated depreciation
<br />(1,776,280)
<br />-
<br />(18,374,312)
<br />TOTAL NONCURRENT ASSETS
<br />2,017,706
<br />-
<br />32,789,733
<br />TOTAL ASSETS
<br />6,037,142
<br />676,036
<br />40,796,627
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred pension resources 51,179 2,269 34,733
<br />Deferred charge on refunding - - -
<br />TOTAL DEFERRED OUTFLOW OF RESOURCES 51,179 2,269 34,733
<br />LIABILITIES
<br />CURRENT LIABILITIES
<br />Accounts payable
<br />209,860
<br />117,196 1,014,996
<br />Salaries payable
<br />8,455
<br />271 6,138
<br />Due to other governments
<br />67,337
<br />- -
<br />Due to other funds
<br />-
<br />- -
<br />Accrued interest payable
<br />-
<br />- 115,169
<br />Unearned revenue
<br />1,419
<br />- -
<br />Compensated absences payable - current
<br />-
<br />- -
<br />Notes payable - current
<br />-
<br />- -
<br />Bonds payable - current
<br />-
<br />- 400,000
<br />TOTAL CURRENT LIABILITIES
<br />287,071
<br />117,467 1,536,303
<br />The notes to the financial statements are an integral part of this statement.
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