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FINANCIAL HIGHLIGHTS
<br /> Minnesota Municipal Power Agency
<br /> Statements of Net Position
<br /> December 31 December 31
<br /> Assets 2016 2015
<br /> Current assets:
<br /> Cash and cash equivalents $ 43,761,074 21,329,356
<br /> Restricted cash and cash equivalents 6,595,034 5,363,890
<br /> Short-term investments 1,000,000 1,000,000
<br /> Accrued interest receivable 170,527 169,253
<br /> Power sales and other receivables 8,918,683 8,409,122
<br /> Fuel inventory 1,507,433 1,354,777
<br /> Plant inventory—spares 2,226,958 1,981,104
<br /> Prepaid expenses 1,309,331 1,005,845
<br /> Derivative instruments—futures 392,240 —
<br /> Total current assets 65,881,280 40,613,347
<br /> Noncurrent assets:
<br /> Capital assets:
<br /> Electric generation assets 352,628,784 352,063,732
<br /> Land 7,066,719 6,116,062
<br /> Less accumulated depreciation (99,384,108) (87,446,358)
<br /> Property and equipment, net 260,311,395 270,733,436
<br /> Construction in progress 62,298,194 6,741,563
<br /> Total capital assets, net 322,609,589 277,474,999
<br /> Investments — 1,000,000
<br /> Restricted cash, cash equivalents, and investments 45,253,790 20,083,836
<br /> Prepaid expenses 613,279 530,538
<br /> Future recoverable costs 40,928,273 37,242,644
<br /> Total noncurrent assets 409,404,931 336,332,017
<br /> Total assets 475,286,211 376,945,364
<br /> Deferred Outflows
<br /> Deferred outflows of resources 1,134,529 2,359,009
<br /> Total assets and deferred outflows of resources $476,420,740 379,304,373
<br /> Liabilities
<br /> Liabilities:
<br /> Current liabilities:
<br /> Accounts payable and accrued liabilities $ 17,259,457 7,389,957
<br /> Accrued interest payable 3,710,198 2,815,077
<br /> Long-term debt due within one year 9,113,333 8,713,333
<br /> Capital lease liability due within one year 917,235 865,561
<br /> Derivative instruments—futures — 742,090
<br /> Total current liabilities 31,000,223 20,526,018
<br /> Long-term debt, net 307,361,707 242,763,042
<br /> Capital lease liability 18,993,261 19,910,496
<br /> Total noncurrent liabilities 326,354,968 262,673,538
<br /> Total liabilities 357,355,191 283,199,556
<br /> Deferred Inflows
<br /> Deferred inflows of resources—rate stabilization 33,071,000 30,450,000
<br /> Deferred inflows of resources—other 16,199,020 7,545,438
<br /> Total liabilities and deferred inflows of resources 406,625,211 321,194,994
<br /> Net Position
<br /> Net position:
<br /> Net investment in capital assets 38,487,165 32,099,907
<br /> Restricted for debt service 6,595,034 5,363,890
<br /> Unrestricted 24,713,330 20,645,582
<br /> Total net position 69,795,529 58,109,379
<br /> Total liabilities and deferred inflows of resources
<br /> and net position $476,420,740 379,304,373
<br /> 2016 MMPA Annual Report 27
<br /> 108
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