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CITY OF ELK RIVER
<br /> STATEMENT OF NET POSITION
<br /> PROPRIETARY FUNDS
<br /> DECEMBER 31, 2016
<br /> Municipal
<br /> Liquor Sewer Garbage Storm Water Electric
<br /> ASSETS AND DEFERRED OUTFLOWS
<br /> OF RESOURCES
<br /> CURRENT ASSETS
<br /> Cash and Cash Equivalents $ 3,402,317 $ 4,102,071 $ 402,142 $ 414,817 $ 13,683,031
<br /> Cash and Investments Held by Trustee - - - - 997,660
<br /> Receivables:
<br /> Accounts Receivable(Net) - 397,711 10,567 2,995 2,733,204
<br /> Accrued Interest 15,013 18,215 1,652 2,067 4,550
<br /> Due from Other Governments - 19,163 - - -
<br /> Due from Other Funds - 337,293 111,086 37,932 10,416
<br /> Inventory 1,216,962 - - - 793,380
<br /> Prepaid Items - - - - 197,439
<br /> Total Current Assets 4,634,292 4,874,453 525,447 457,811 18,419,680
<br /> NONCURRENT ASSETS
<br /> Capital Assets
<br /> Nondepreciable 753,961 2,907,679 - - 10,173,274
<br /> Depreciable 3,040,025 49,500,208 18,001,807 51,422,779
<br /> Total 3,793,986 52,407,887 18,001,807 61,596,053
<br /> Less:Accumulated Depreciation (1,897,380) (16,087,084) (7,655,146) (23,639,805)
<br /> Net Capital Assets 1,896,606 36,320,803 10,346,661 37,956,248
<br /> DEFERRED OUTFLOWS OF RESOURCES
<br /> Pension Related 227,315 172,969 7,985 25,534 1,485,023
<br /> Deferred Charge on Debt Refunding - - - - 41,216
<br /> Total Deferred Outflows of Resources 227,315 172,969 7,985 25,534 1,526,239
<br /> Total Assets and Deferred
<br /> Outflows of Resources $ 6,758,213 $ 41,368,225 $ 533,432 $ 10,830,006 $ 57,902,167
<br /> LIABILITIES,DEFERRED INFLOWS OF
<br /> RESOURCES,AND NET POSITION
<br /> CURRENT LIABILITIES
<br /> Accounts and Contracts Payable $ 444,319 $ 1,059,181 $ 115,409 $ 5,551 $ 3,407,185
<br /> Accrued Salaries Payable 12,535 9,676 416 1,322 100,644
<br /> Due to Other Governments 70,771 - - - 113,078
<br /> Due to Other Funds - 509 1,060 895 755,539
<br /> Unearned Revenue 1,233 - - - 875
<br /> Accrued Interest Payable - 111,835 - 155,971
<br /> Compensated Absences Payable 32,098 13,834 2,191 156,874
<br /> Notes Payable - - - 195,216
<br /> Bonds Payable - 405,000 - - 706,000
<br /> Total Current Liabilities 560,956 1,600,035 116,885 9,959 5,591,382
<br /> NONCURRENT LIABILITIES
<br /> Compensated Absences Payable 66,862 7,192 - 1,756 152,133
<br /> Other Postemployment Benefits 32,444 34,005 - 1,689 70,545
<br /> Net Pension Liability 627,186 477,240 22,030 70,452 3,749,423
<br /> Notes Payable - - - - 1,018,860
<br /> Bonds Payable - 9,195,000 - - 12,380,218
<br /> Total Noncurrent Liabilities 726,492 9,713,437 22,030 73,897 17,371,179
<br /> Total Liabilities 1,287,448 11,313,472 138,915 83,856 22,962,561
<br /> DEFERRED INFLOWS OF RESOURCES
<br /> Deferred Inflows-Pensions 86,934 66,150 3,054 9,765 415,506
<br /> NET POSITION
<br /> Net Investment in Capital Assets 1,896,606 26,720,803 - 10,346,661 23,697,170
<br /> Restricted - - - - 997,660
<br /> Unrestricted 3,487,225 3,267,800 391,463 389,724 9,829,270
<br /> Total Net Position 5,383,831 29,988,603 391,463 10,736,385 34,524,100
<br /> Total Liabilities,Deferred Inflows of
<br /> Resources,and Net Position $ 6,758,213 $ 41,368,225 $ 533,432 $ 10,830,006 $ 57,902,167
<br /> See accompanying Notes to Basic Financial Statements.
<br /> (28)
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