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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING DECEMBER 2016
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,890,774 3,169,718
<br /> ACCOUNTS RECEIVABLE 2,758,599 610,704
<br /> INVENTORIES 793,380 13,004
<br /> PREPAID ITEMS 197,439 27,981
<br /> CONSTRUCTION IN PROGRESS 36,785 1,126,960
<br /> TOTAL CURRENT ASSETS 14,676,977 4,948,365
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,553,647 1,162,750
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,590,191 1,276,574
<br /> FIXED ASSETS
<br /> PRODUCTION 457,733 11,691,030
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,842,806 0
<br /> DISTRIBUTION 36,064,413 22,566,520
<br /> GENERAL 9,587,992 954,418
<br /> FIXED ASSETS(COST) 51,754,317 35,211,968
<br /> LESS ACCUMULATED DEPRECIATION (23,639,805) (15,272,002)
<br /> TOTAL FIXED ASSETS,NET 28,114,512 19,939,966
<br /> INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 9,393,794 0
<br /> LOSS OF REVENUE INTANGIBLE 0 0
<br /> LESS ACCUMULATED AMORTIZATION 0 0
<br /> TOTAL INTANGIBLE ASSETS,NET 0 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 314,165 38,794
<br /> TOTAL ASSETS 56,089,639 26,203,699
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,436,904 134,030
<br /> SALARIES AND BENEFITS PAYABLE 447,187 66,872
<br /> DUE TO CITY 762,111 22,258
<br /> DUE TO OTHER FUNDS (357,874) 357,874
<br /> NOTES PAYABLE-CURRENT PORTION 195,216 0
<br /> BONDS PAYABLE-CURRENT PORTION 266,000 244,000
<br /> UNEARNED REVENUE 875 89,746
<br /> TOTAL CURRENT LIABILITIES 4,750,419 914,780
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,820,217 1,391,113
<br /> PENSION LIABILITIES 2,243,115 234,129
<br /> TOTAL LONG TERM LIABILITIES 16,082,192 1,625,242
<br /> TOTAL LIABILITIES 20,832,611 2,540,022
<br /> DEFERRED INFLOWS OF RESOURCES 459,746 47,987
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 997,660 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 31,638,017 23,075,111
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 2,161,605 540,579
<br /> TOTAL FUND EQUITY 34,797,282 23,615,690
<br /> TOTAL LIABILITIES&FUND EQUITY 56,089,639 26,203,699
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