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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING MAY 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,045,401 2,951,420
<br /> ACCOUNTS RECEIVABLE 2,905,608 391,955
<br /> INVENTORIES 1,243,865 15,338
<br /> PREPAID ITEMS 161,710 26,076
<br /> CONSTRUCTION IN PROGRESS 656,455 1,626,018
<br /> TOTAL CURRENT ASSETS 15,013,039 5,010,807
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,567,060 1,166,103
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,603,604 1,279,927
<br /> FIXED ASSETS
<br /> PRODUCTION 464,533 11,713,750
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,842,806 0
<br /> DISTRIBUTION 36,104,906 22,700,705
<br /> GENERAL 9,658,074 1,025,613
<br /> FIXED ASSETS(COST) 51,871,693 35,440,068
<br /> LESS ACCUMULATED DEPRECIATION (24,490,894) (15,752,159)
<br /> TOTAL FIXED ASSETS,NET 27,380,799 19,687,909
<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 1,523,454 158,246
<br /> TOTAL ASSETS 57,325,847 26,136,889
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,407,339 209,084
<br /> SALARIES AND BENEFITS PAYABLE 567,618 73,145
<br /> DUE TO CITY 627,267 1,679
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 113,876 0
<br /> BONDS PAYABLE-CURRENT PORTION 410,000 0
<br /> UNEARNED REVENUE 6,851 183,488
<br /> TOTAL CURRENT LIABILITIES 5,132,950 467,396
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,359,053 1,390,768
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,127,336 1,766,053
<br /> TOTAL LIABILITIES 22,260,286 2,233,449
<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 33,354,838 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 297,557 190,991
<br /> TOTAL FUND EQUITY 34,650,055 23,861,851
<br /> TOTAL LIABILITIES&FUND EQUITY 57,325,847 26,136,889
<br /> 172
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