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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING SEPTEMBER 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 8,400,878 3,582,432
<br /> ACCOUNTS RECEIVABLE 3,867,372 526,052
<br /> INVENTORIES 1,168,377 25,091
<br /> PREPAID ITEMS 140,460 21,794
<br /> CONSTRUCTION IN PROGRESS 1,865,573 1,641,472
<br /> TOTAL CURRENT ASSETS 15,442,660 5,796,841
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,577,805 1,168,789
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,614,349 1,282,613
<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 36,606,701 22,714,455
<br /> GENERAL 9,496,628 1,027,154
<br /> FIXED ASSETS(COST) 52,392,793 35,533,185
<br /> LESS ACCUMULATED DEPRECIATION (25,142,113) (16,139,834)
<br /> TOTAL FIXED ASSETS,NET 27,250,680 19,393,350
<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 1,521,226 157,689
<br /> TOTAL ASSETS 57,633,865 26,630,493
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,832,552 181,360
<br /> SALARIES AND BENEFITS PAYABLE 449,448 59,759
<br /> DUE TO CITY 714,347 1,829
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 48,804 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 2,561 146,713
<br /> TOTAL CURRENT LIABILITIES 5,047,712 389,661
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,342,121 1,390,491
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,110,404 1,765,776
<br /> TOTAL LIABILITIES 22,158,117 2,155,437
<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 33,187,500 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 875,082 762,606
<br /> TOTAL FUND EQUITY 35,060,243 24,433,467
<br /> TOTAL LIABILITIES&FUND EQUITY 57,633,865 26,630,493
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