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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING MAY 2016
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH&TEMPORARY INVESTMENTS 10,141,045 2,980,767
<br /> ACCOUNTS RECEIVABLE 2,776,763 344,286
<br /> INVENTORIES 1,342,163 16,499
<br /> PREPAID ITEMS 178,507 29,170
<br /> CONSTRUCTION IN PROGRESS 227,825 31,529
<br /> TOTAL CURRENT ASSETS 14,666,303 3,402,251
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 490,500 0
<br /> EMERGENCY RESERVE FUND 2,533,154 1,157,627
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,062,538 1,271,450
<br /> FIXED ASSETS
<br /> PRODUCTION 391,546 11,582,190
<br /> LFG PROJECT 3,782,526 0
<br /> TRANSMISSION 747,961 0
<br /> DISTRIBUTION 35,626,059 22,523,890
<br /> GENERAL 8,735,008 928,444
<br /> FIXED ASSETS(COST) 49,283,100 35,034,524
<br /> LESS ACCUMULATED DEPRECIATION (22,654,031) (14,640,210)
<br /> TOTAL FIXED ASSETS,NET 26,629,069 20,394,314
<br /> OTHER ASSETS AND DEFFERED OUTFLOWS 220,733 22,971
<br /> TOTAL ASSETS 44,578,642 25,090,986
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 2,974,973 195,433
<br /> SALARIES AND BENEFITS PAYABLE 439,399 52,040
<br /> DUE TO CITY 603,570 5,127
<br /> DUE TO OTHER FUNDS 0 0
<br /> BONDS PAYABLE-CURRENT PORTION 405,000 0
<br /> UNEARNED REVENUE 50,436 15,600
<br /> TOTAL CURRENT LIABILITIES 4,473,378 268,200
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,214,061 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 5,163,457 1,853,007
<br /> TOTAL LONG TERM LIABILITIES 6,377,518 1,853,007
<br /> TOTAL LIABILITIES 10,850,896 2,121,206
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 490,500 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 32,145,177 23,075,111
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 632,324 (153,318)
<br /> TOTAL FUND EQUITY 33,268,001 22,921,793
<br /> TOTAL LIABILITIES&FUND EQUITY 44,578,642 25,090,986
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