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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING MARCH 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,673,958 2,701,062
<br /> ACCOUNTS RECEIVABLE 2,171,345 327,487
<br /> INVENTORIES 850,929 12,680
<br /> PREPAID ITEMS 245,208 38,727
<br /> CONSTRUCTION IN PROGRESS 391,617 1,411,593
<br /> TOTAL CURRENT ASSETS 14,333,056 4,491,548
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,563,118 1,165,118
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,599,661 1,278,941
<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 22,700,705
<br /> GENERAL 9,599,166 955,848
<br /> FIXED ASSETS(COST) 51,771,319 35,361,175
<br /> LESS ACCUMULATED DEPRECIATION (24,150,004) (15,561,127)
<br /> TOTAL FIXED ASSETS,NET 27,621,315 19,800,048
<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 1,524,568 158,524
<br /> TOTAL ASSETS 56,883,551 25,729,061
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,209,530 187,562
<br /> SALARIES AND BENEFITS PAYABLE 491,242 66,920
<br /> DUE TO CITY 656,199 1,394
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 146,412 0
<br /> BONDS PAYABLE-CURRENT PORTION 410,000 0
<br /> UNEARNED REVENUE 8,558 68,133
<br /> TOTAL CURRENT LIABILITIES 4,921,940 324,009
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,367,518 1,390,906
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,135,801 1,766,191
<br /> TOTAL LIABILITIES 22,057,742 2,090,200
<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 33,425,772 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) (13,129) (73,589)
<br /> TOTAL FUND EQUITY 34,410,303 23,597,272
<br /> TOTAL LIABILITIES&FUND EQUITY 56,883,551 25,729,061
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