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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING JULY 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 9,541,294 3,179,103
<br /> ACCOUNTS RECEIVABLE 3,567,768 497,429
<br /> INVENTORIES 1,207,798 18,750
<br /> PREPAID ITEMS 161,715 22,843
<br /> CONSTRUCTION IN PROGRESS 1,051,604 1,607,870
<br /> TOTAL CURRENT ASSETS 15,530,178 5,325,995
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,573,668 1,167,755
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,610,211 1,281,579
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 11,774,865
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,842,806 0
<br /> DISTRIBUTION 36,450,546 22,707,273
<br /> GENERAL 9,483,179 1,023,792
<br /> FIXED ASSETS(COST) 52,223,189 35,505,930
<br /> LESS ACCUMULATED DEPRECIATION (24,802,660) (15,944,424)
<br /> TOTAL FIXED ASSETS,NET 27,420,530 19,561,506
<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 1,522,340 157,967
<br /> TOTAL ASSETS 57,888,209 26,327,047
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,609,605 218,463
<br /> SALARIES AND BENEFITS PAYABLE 405,708 53,483
<br /> DUE TO CITY 581,969 3,691
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 81,340 0
<br /> BONDS PAYABLE-CURRENT PORTION 410,000 0
<br /> UNEARNED REVENUE 5,143 148,336
<br /> TOTAL CURRENT LIABILITIES 6,093,765 423,974
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,350,587 1,390,629
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,118,870 1,765,914
<br /> TOTAL LIABILITIES 23,212,635 2,189,888
<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 33,271,441 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) (9,033) 424,709
<br /> TOTAL FUND EQUITY 34,260,068 24,095,570
<br /> TOTAL LIABILITIES&FUND EQUITY 57,888,209 26,327,047
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