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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING DECEMBER 2017
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,172,412 4,054,100
<br /> ACCOUNTS RECEIVABLE 3,344,113 324,351
<br /> INVENTORIES 949,695 16,276
<br /> PREPAID ITEMS 192,139 32,575
<br /> CONSTRUCTION IN PROGRESS 672,161 64,711
<br /> TOTAL CURRENT ASSETS 15,330,520 4,492,014
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,587,839 1,171,298
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,624,383 1,285,122
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,390,006
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 37,659,675 22,724,766
<br /> GENERAL 9,886,490 1,008,275
<br /> FIXED ASSETS(COST) 54,294,689 37,123,047
<br /> LESS ACCUMULATED DEPRECIATION (25,640,859) (16,438,546)
<br /> TOTAL FIXED ASSETS,NET 28,653,831 20,684,501
<br /> INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 9,393,794 0
<br /> LOSS OF REVENUE INTANGIBLE 981,883 0
<br /> LESS ACCUMULATED AMORTIZATION 0 0
<br /> TOTAL INTANGIBLE ASSETS,NET 10,375,676 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 1,519,555 157,271
<br /> TOTAL ASSETS 59,503,966 26,618,908
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,360,926 199,944
<br /> SALARIES AND BENEFITS PAYABLE 434,622 68,371
<br /> DUE TO CITY 708,402 1,581
<br /> DUE TO OTHER FUNDS 25,000 0
<br /> NOTES PAYABLE-CURRENT PORTION 198,252 0
<br /> BONDS PAYABLE-CURRENT PORTION 720,000 255,000
<br /> UNEARNED REVENUE 0 93,336
<br /> TOTAL CURRENT LIABILITIES 6,447,202 618,232
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,609,423 1,135,284
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 16,179,454 1,510,569
<br /> TOTAL LIABILITIES 22,626,656 2,128,801
<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 33,526,442 23,670,861
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 1,937,703 777,657
<br /> TOTAL FUND EQUITY 36,461,804 24,448,518
<br /> TOTAL LIABILITIES&FUND EQUITY 59,503,966 26,618,908
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