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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING OCTOBER 2016
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,663,219 3,120,570
<br /> ACCOUNTS RECEIVABLE 3,376,928 419,816
<br /> INVENTORIES 1,082,057 10,687
<br /> PREPAID ITEMS 220,425 36,191
<br /> CONSTRUCTION IN PROGRESS 891,301 767,855
<br /> TOTAL CURRENT ASSETS 16,233,931 4,355,118
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,548,027 1,161.345
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,584,571 1,275,168
<br /> FIXED ASSETS
<br /> PRODUCTION 457,733 11,677,191
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,841,993 0
<br /> DISTRIBUTION 34,822,630 22,536,693
<br /> GENERAL 9,641,423 996,138
<br /> FIXED ASSETS(COST) 50,565,152 35,210.022
<br /> LESS ACCUMULATED DEPRECIATION (23,390,378) (15,119,392)
<br /> TOTAL FIXED ASSETS,NET 27,174,774 20,090,630
<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 314,911 38,926
<br /> TOTAL ASSETS 56,701,980 25,759,843
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,726,496 217,720
<br /> SALARIES AND BENEFITS PAYABLE 437,223 54,523
<br /> DUE TO CITY 747,582 1,651
<br /> DUE TO OTHER FUNDS 0 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 2.563 119,154
<br /> TOTAL CURRENT LIABILITIES 4,913,864 393,048
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,214,061 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 13,094,391 1,635,178
<br /> PENSION LIABILITIES 2,243,115 234,129
<br /> TOTAL LONG TERM LIABILITIES 16,551,567 1,869,308
<br /> DEFERRED INFLOWS OF RESOURCES 459,746 47,987
<br /> TOTAL LIABILITIES 21,925,177 2,310,343
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 997,660 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 30,897,045 23,075,111
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 2,882,098 374,389
<br /> TOTAL FUND EQUITY 34,776,802 23,449,500
<br /> TOTAL LIABILITIES&FUND EQUITY 56,701,980 25,759,843
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