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Elk River Municipal Utilities
<br /> Elk River, Minnesota
<br /> Notes to the Financial Statements
<br /> December 31, 2017
<br /> Note 2: Detailed Notes on All Funds (Continued)
<br /> The annual debt service requirements to maturity for the generator note are as follows:
<br /> Year Ending
<br /> December 31, Principal Interest Total
<br /> 2018 $ 198,252 $ - $ 198,252
<br /> 2019 200,916 - 200,916
<br /> 2020 203,952 - 203,952
<br /> 2021 206,616 - 206,616
<br /> 2022 209,124 - 209,124
<br /> Total $ 1,018,860 $ - $ 1,018,860
<br /> Changes in Long-term Liabilities
<br /> Long-term liability activity for the year ended December 31, 2017 was as follows:
<br /> Beginning Ending Due Within
<br /> Balance Increases Decreases Balance One Year
<br /> Business-type Activities
<br /> Bonds Payable
<br /> General obligation
<br /> revenue bonds $ 2,230,000 $ - $ (320,000) $ 1,910,000 $ 335,000
<br /> Revenue bonds 11,955,000 - (630,000) 11,325,000 640,000
<br /> Unamortized premium
<br /> on bonds 536,331 - (51,625) 484,706 -
<br /> Total Bonds Payable, Net 14,721,331 - (1,001,625) 13,719,706 975,000
<br /> Notes Payable 1,214,076 - (195,216) 1,018,860 198,252
<br /> Compensated
<br /> Absences Payable 351,199 271,462 (282,614) 340,047 176,539
<br /> Net Pension Liability
<br /> GERF 4,124,708 243,070 (920,454) 3,447,324 -
<br /> OPEB Liability 70,545 10,411 (2,419) 78,537 -
<br /> Business-type Activity
<br /> Long-term
<br /> Liabilities $ 20,481,859 $ 524,943 $ (2,402,328) $ 18,604,474 $ 1,349,791
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