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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING APRIL 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 9,855,052 2,610,612
<br /> ACCOUNTS RECEIVABLE 3,186,487 398,931
<br /> INVENTORIES 813,548 11,341
<br /> PREPAID ITEMS 179,506 26,281
<br /> CONSTRUCTION IN PROGRESS 515,600 1,577,535
<br /> TOTAL CURRENT ASSETS 14,550,193 4,624,701
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,564,844 1,165,549
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,601,388 1,279,373
<br /> FIXED ASSETS
<br /> PRODUCTION 458,245 11,707,629
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,842,806 0
<br /> DISTRIBUTION 36,070,240 22,700,705
<br /> GENERAL 9,601,010 1,025,327
<br /> FIXED ASSETS(COST) 51,773,674 35,433,660
<br /> LESS ACCUMULATED DEPRECIATION (24,320,205) (15,654,820)
<br /> TOTAL FIXED ASSETS,NET 27,453,469 19,778,840
<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 1,524,011 158,385
<br /> TOTAL ASSETS 56,934,012 25,841,299
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,000,438 197,368
<br /> SALARIES AND BENEFITS PAYABLE 460,535 59,621
<br /> DUE TO CITY 530,389 1,441
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 130,144 0
<br /> BONDS PAYABLE-CURRENT PORTION 410,000 0
<br /> UNEARNED REVENUE 7,704 50,929
<br /> TOTAL CURRENT LIABILITIES 4,539,210 309,359
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,363,285 1,390,837
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,131,568 1,766,122
<br /> TOTAL LIABILITIES 21,670,779 2,075,481
<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 33,392,106 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 457,962 53,368
<br /> TOTAL FUND EQUITY 34,847,728 23,724,229
<br /> TOTAL LIABILITIES&FUND EQUITY 56,934,012 25,841,299
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