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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING JANUARY 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,203,591 3,925,066
<br /> ACCOUNTS RECEIVABLE 1,537,284 258,436
<br /> INVENTORIES 975,023 19,765
<br /> PREPAID ITEMS 213,254 30,267
<br /> CONSTRUCTION IN PROGRESS 684,327 271,050
<br /> TOTAL CURRENT ASSETS 14,613,478 4,504,585
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,592,454 1,172,452
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,628,998 1,286,275
<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 37,694,088 22,724,766
<br /> GENERAL 9,886,490 1,008,275
<br /> FIXED ASSETS(COST) 54,329,102 37,123,047
<br /> LESS ACCUMULATED DEPRECIATION (25,817,339) (16,539,603)
<br /> TOTAL FIXED ASSETS,NET 28,511,763 20,583,444
<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 1,518,998 157,132
<br /> TOTAL ASSETS 58,648,913 26,531,436
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,863,989 206,993
<br /> SALARIES AND BENEFITS PAYABLE 504,859 67,848
<br /> DUE TO CITY 653,902 27,948
<br /> DUE TO OTHER FUNDS 25,000 0
<br /> NOTES PAYABLE-CURRENT PORTION 181,731 0
<br /> BONDS PAYABLE-CURRENT PORTION 640,000 235,000
<br /> UNEARNED REVENUE 9,414 106,643
<br /> TOTAL CURRENT LIABILITIES 5,878,896 644,432
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,605,190 1,135,215
<br /> PENSION LIABILITIES 3,749,423 375,285
<br /> TOTAL LONG TERM LIABILITIES 16,175,221 1,510,500
<br /> TOTAL LIABILITIES 22,054,116 2,154,931
<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 35,473,936 24,445,168
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) (292,305) (110,252)
<br /> TOTAL FUND EQUITY 36,179,291 24,334,916
<br /> TOTAL LIABILITIES&FUND EQUITY 58,648,913 26,531,436
<br /> 182
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