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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING OCTOBER 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,659,286 3,848,170
<br /> ACCOUNTS RECEIVABLE 3,672,984 450,208
<br /> INVENTORIES 1,087,878 18,599
<br /> PREPAID ITEMS 197,807 34,612
<br /> CONSTRUCTION IN PROGRESS 1,975,092 69,535
<br /> TOTAL CURRENT ASSETS 17,593,047 4,421,124
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,580,809 1,169,541
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,617,353 1,283,364
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,368,070
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 1,842,806 0
<br /> DISTRIBUTION 36,660,490 22,714,455
<br /> GENERAL 9,773,404 1,027,154
<br /> FIXED ASSETS(COST) 52,723,358 37,109,679
<br /> LESS ACCUMULATED DEPRECIATION (25,313,385) (16,241,607)
<br /> TOTAL FIXED ASSETS,NET 27,409,974 20,868,073
<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 1,520,669 157,549
<br /> TOTAL ASSETS 59,945,993 26,730,110
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 5,274,651 201,823
<br /> SALARIES AND BENEFITS PAYABLE 479,628 63,190
<br /> DUE TO CITY 571,312 1,510
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 32,536 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 1,707 128,921
<br /> TOTAL CURRENT LIABILITIES 6,359,834 395,444
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,337,888 1,390,422
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,106,171 1,765,707
<br /> TOTAL LIABILITIES 23,466,005 2,161,151
<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 33,143,834 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 1,922,988 856,509
<br /> TOTAL FUND EQUITY 36,064,482 24,527,370
<br /> TOTAL LIABILITIES&FUND EQUITY 59,945,993 26,730,110
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