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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING FEBRUARY 2017.
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,368,478 2,850,188
<br /> ACCOUNTS RECEIVABLE 3,244,581 349,810
<br /> INVENTORIES 856,197 14,776
<br /> PREPAID ITEMS 220,586 32,745
<br /> CONSTRUCTION IN PROGRESS 162,799 1,243,760
<br /> TOTAL CURRENT ASSETS 14,852,641 4,491,280
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,559,998 1,164,338
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,596,542 1,278,161
<br /> FIXED ASSETS
<br /> PRODUCTION 457,733 11,704,622
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,842,806 0
<br /> DISTRIBUTION 36,070,240 22,639,522
<br /> GENERAL 9,600,745 954,418
<br /> FIXED ASSETS(COST) 51,772,897 35,298,563
<br /> LESS ACCUMULATED DEPRECIATION (23,979,829) (15,464,601)
<br /> TOTAL FIXED ASSETS,NET 27,793,068 19,833,962
<br /> INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 9,393,794 0
<br /> LOSS OF REVENUE INTANGIBLE 411,157 0
<br /> LESS ACCUMULATED AMORTIZATION 0 0
<br /> TOTAL INTANGIBLE ASSETS,NET 9,804,951 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 1,525,125 158,663
<br /> TOTAL ASSETS 57,572,326 25,762,066
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,223,051 207,301
<br /> SALARIES AND BENEFITS PAYABLE 493,452 63,291
<br /> DUE TO CITY 1,088,040 23,418
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 162,680 0
<br /> BONDS PAYABLE-CURRENT PORTION 410,000 0
<br /> UNEARNED REVENUE 9,412 85,337
<br /> TOTAL CURRENT LIABILITIES 5,386,635 379,347
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,371,751 1,390,975
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,140,034 1,766,260
<br /> TOTAL LIABILITIES 22,526,669 2,145,607
<br /> DEFERRED INFLOWS OF RESOURCES 415,506 41,589
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 997,660 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 33,459,245 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 173,246 (95,991)
<br /> TOTAL FUND EQUITY 34,630,151 23,574,870
<br /> TOTAL LIABILITIES&FUND EQUITY 57,572,326 25,762,066
<br /> 156
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