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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING AUGUST 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 8,434,440 3,393,004
<br /> ACCOUNTS RECEIVABLE 3,917,673 510,693
<br /> INVENTORIES 1,105,555 23,580
<br /> PREPAID ITEMS 133,832 21,588
<br /> CONSTRUCTION IN PROGRESS 1,581,186 1,621,351
<br /> TOTAL CURRENT ASSETS 15,172,686 5,570,216
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,576,430 1,168,446
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,612,974 1,282,269
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 11,791,575
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,842,806 0
<br /> DISTRIBUTION 36,461,453 22,707,273
<br /> GENERAL 9,496,628 1,027,154
<br /> FIXED ASSETS(COST) 52,247,545 35,526,003
<br /> LESS ACCUMULATED DEPRECIATION (24,972,145) (16,042,301)
<br /> TOTAL FIXED ASSETS,NET 27,275,401 19,483,701
<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 1,521,783 157,828
<br /> TOTAL ASSETS 57,387,794 26,494,015
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,341,683 217,914
<br /> SALARIES AND BENEFITS PAYABLE 424,597 58,128
<br /> DUE TO CITY 647,753 1,727
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 65,072 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 3,415 164,506
<br /> TOTAL CURRENT LIABILITIES 5,482,519 442,274
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,346,354 1,390,560
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,114,637 1,765,845
<br /> TOTAL LIABILITIES 22,597,156 2,208,120
<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 33,229,325 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 148,147 573,446
<br /> TOTAL FUND EQUITY 34,375,132 24,244,306
<br /> TOTAL LIABILITIES&FUND EQUITY 57,387,794 26,494,015
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