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Financial Highlights
<br /> Minnesota Municipal Power Agency
<br /> Statements of Net Position
<br /> December 31 December 31
<br /> Assets 2015 2014
<br /> Current assets:
<br /> Cash and cash equivalents $ 21,329,356 39,090,296
<br /> Restricted cash and cash equivalents 5,363,890 4,299,485
<br /> Short-term investments 1,000,000 2,999,556
<br /> Accrued interest receivable 169,253 68,420
<br /> Power sales receivables 8,104,945 8,519,502
<br /> Other receivable 304,177 458,169
<br /> Fuel inventory 1,354,777 1,501,063
<br /> Plant inventory—spares 1,981,104 1,843,544
<br /> Prepaid expenses 1,005,845 472,878
<br /> Total current assets 40,613,347 59,252,913
<br /> Noncurrent assets:
<br /> Capital assets:
<br /> Equipment 1,192,857 962,290
<br /> Capital lease asset 29,080,531 29,080,531
<br /> Land 6,116,062 4,222,351
<br /> Electric plant 311,946,139 310,305,095
<br /> Rotable combustion turbine parts 9,844,205 9,844,205
<br /> Less accumulated depreciation (87,446,358) (75,612,012)
<br /> Property and equipment, net 270,733,436 278,802,460
<br /> Construction in progress 6,741,563 471,219
<br /> Total capital assets, net 277,474,999 279,273,679
<br /> Investments 1,000,000 2,000,000
<br /> Restricted cash and cash equivalents 269,341 441,405
<br /> Restricted investments 19,814,495 22,206,743
<br /> Prepaid expenses 530,538 561,243
<br /> Future recoverable costs 37,242,644 32,605,392
<br /> Total noncurrent assets 336,332,017 337,088,462
<br /> Total assets 376,945,364 396,341,375
<br /> Deferred Outflows
<br /> Deferred outflows of resources 2,359,009 1,788,969
<br /> Total assets and deferred outflows of resources $379,304,373 398,130,344
<br /> Liabilities
<br /> Liabilities:
<br /> Current liabilities:
<br /> Accounts payable and accrued liabilities $ 7,389,957 11,985,661
<br /> Retainage payable — 338,934
<br /> Accrued interest payable 2,815,077 2,386,016
<br /> Long-term debt due within one year 8,713,333 8,813,334
<br /> Capital lease liability due within one year 865,561 816,798
<br /> Derivative instruments—futures 742,090 81,900
<br /> Total current liabilities 20,526,018 24,422,643
<br /> Long-term debt, net 242,763,042 266,657,458
<br /> Capital lease liability 19,910,496 20,776,057
<br /> Total noncurrent liabilities 262,673,538 287,433,515
<br /> Total liabilities 283,199,556 311,856,158
<br /> Deferred Inflows
<br /> Deferred inflows of resources—rate stabilization 30,450,000 30,450,000
<br /> Deferred inflows of resources—other 7,545,438 7,179,591
<br /> Total liabilities and deferred inflows of resources 321,194,994 349,485,749
<br /> Net Position
<br /> Net position:
<br /> Net investment in capital assets 32,099,907 9,508,833
<br /> Restricted for debt service 5,363,890 6,298,873
<br /> Unrestricted 20,645,582 32,836,889
<br /> Total net position 58,109,379 48,644,595
<br /> Total liabilities and deferred inflows of resources
<br /> and net position $379,304,373 398,130,344
<br /> 2015 MMPA Annual Report 23
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