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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING JULY 2016
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH&TEMPORARY INVESTMENTS 11,165,451 3,232,423
<br /> ACCOUNTS RECEIVABLE 3,725,134 491,341
<br /> INVENTORIES 1,297,691 18,173
<br /> PREPAID ITEMS 175,520 23,707
<br /> CONSTRUCTION IN PROGRESS 265,586 121,234
<br /> TOTAL CURRENT ASSETS 16,629,382 3,886,877
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,285,160 0
<br /> EMERGENCY RESERVE FUND 2,540,724 1,159,519
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,864,768 1,273,343
<br /> FIXED ASSETS
<br /> PRODUCTION 457,733 11,642,716
<br /> LFG PROJECT 3,782,526 0
<br /> TRANSMISSION 747,961 0
<br /> DISTRIBUTION 35,829,049 22,531,424
<br /> GENERAL 8,915,312 928,348
<br /> FIXED ASSETS(COST) 49,732,581 35,102,488
<br /> LESS ACCUMULATED DEPRECIATION (22,985,371) (14,830,889)
<br /> TOTAL FIXED ASSETS,NET 26,747,210 20,271,599
<br /> INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 9,393,794 0
<br /> LESS ACCUMULATED AMORTIZATION 0 0
<br /> TOTAL INTANGIBLE ASSETS,NET 9,393,794 0
<br /> OTHER ASSETS AND DEFFERED OUTFLOWS (279,129) 23,107
<br /> TOTAL ASSETS 56,356,024 25,454,926
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,169,447 248,712
<br /> SALARIES AND BENEFITS PAYABLE 376,136 46,448
<br /> DUE TO CITY 763,501 1,290
<br /> DUE TO OTHER FUNDS 0 0
<br /> BONDS PAYABLE-CURRENT PORTION 405,000 0
<br /> UNEARNED REVENUE 46,966 130,611
<br /> TOTAL CURRENT LIABILITIES 5,761,051 427,062
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,214,061 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 14,046,421 1,619,152
<br /> PENSION LIABILITIES 2,243,115 234,129
<br /> TOTAL LONG TERM LIABILITIES 17,503,597 1,853,281
<br /> DEFFERED INFLOWS OF RESOURCES 459,746 47,987
<br /> TOTAL LIABILITIES 23,264,647 2,280,344
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 1,285,160 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 31,350,517 23,075,111
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) (4,046) 51,485
<br /> TOTAL FUND EQUITY 32,631,631 23,126,596
<br /> TOTAL LIABILITIES&FUND EQUITY 56,356,024 25,454,926
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