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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING NOVEMBER 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 9,554,526 3,987,891
<br /> ACCOUNTS RECEIVABLE 3,370,461 374,649
<br /> INVENTORIES 999,015 21,141
<br /> PREPAID ITEMS 182,888 33,190
<br /> CONSTRUCTION IN PROGRESS 2,007,610 70,986
<br /> TOTAL CURRENT ASSETS 16,114,500 4,487,856
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,582,637 1,169,997
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,619,180 1,283,821
<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 36,848,183 22,714,455
<br /> GENERAL 9,773,404 1,027,154
<br /> FIXED ASSETS(COST) 52,911,051 37,109,679
<br /> LESS ACCUMULATED DEPRECIATION (25,485,130) (16,355,822)
<br /> TOTAL FIXED ASSETS,NET 27,425,921 20,753,857
<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 1,520,112 157,410
<br /> TOTAL ASSETS 58,484,664 26,682,945
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,352,676 192,620
<br /> SALARIES AND BENEFITS PAYABLE 509,329 67,406
<br /> DUE TO CITY 627,737 1,781
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 16,268 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 854 111,128
<br /> TOTAL CURRENT LIABILITIES 4,506,865 372,935
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 1,018,860 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 12,333,656 1,390,353
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 17,101,938 1,765,638
<br /> TOTAL LIABILITIES 21,608,803 2,138,573
<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 33,104,281 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 2,358,414 831,922
<br /> TOTAL FUND EQUITY 36,460,355 24,502,783
<br /> TOTAL LIABILITIES&FUND EQUITY 58,484,664 26,682,945
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