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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING SEPTEMBER 2016
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 9,119,620 2,946,312
<br /> ACCOUNTS RECEIVABLE 3,919,281 490,676
<br /> INVENTORIES 1,149,160 14,329
<br /> PREPAID ITEMS 172,246 23,042
<br /> CONSTRUCTION IN PROGRESS 690,225 786,671
<br /> TOTAL CURRENT ASSETS 15,050,532 4,261,031
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,545,871 1,160,806
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,582,415 1,274,629
<br /> FIXED ASSETS
<br /> PRODUCTION 457,733 11,642,716
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 762,850 0
<br /> DISTRIBUTION 35,923,823 22,536,693
<br /> GENERAL 8,915,312 990,456
<br /> FIXED ASSETS(COST) 49,861,091 35,169,864
<br /> LESS ACCUMULATED DEPRECIATION (23,226,580) (15,022,539)
<br /> TOTAL FIXED ASSETS,NET 26,634,510 20,147,326
<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 DEFERRED OUTFLOWS 315,450 39,063
<br /> TOTAL ASSETS 54,976,700 25,722,049
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 2,862,730 232,400
<br /> SALARIES AND BENEFITS PAYABLE 426,246 52,596
<br /> DUE TO CITY 695,297 1,390
<br /> DUE TO OTHER FUNDS 0 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 2,532 133,859
<br /> TOTAL CURRENT LIABILITIES 3,986,805 420,244
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,214,061 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 13,098,620 1,635,247
<br /> PENSION LIABILITIES 2,243,115 234,129
<br /> TOTAL LONG TERM LIABILITIES 16,555,796 1,869,376
<br /> DEFERRED INFLOWS OF RESOURCES 459,746 47,987
<br /> TOTAL LIABILITIES 21,002,347 2,337,607
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 997,660 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 30,977,049 23,075,111
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 1,999,644 309,332
<br /> TOTAL FUND EQUITY 33,974,353 23,384,442
<br /> TOTAL LIABILITIES&FUND EQUITY 54,976,700 25,722,049
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