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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING FEBRUARY 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 9,973,360 3,676,647
<br /> ACCOUNTS RECEIVABLE 2,763,673 318,656
<br /> INVENTORIES 968,011 18,707
<br /> PREPAID ITEMS 165,134 22,119
<br /> CONSTRUCTION IN PROGRESS 566,948 271,303
<br /> TOTAL CURRENT ASSETS 14,437,126 4,307,433
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,593,689 1,172,761
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,630,233 1,286,584
<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 38,085,508 22,724,766
<br /> GENERAL 9,886,490 1,008,275
<br /> FIXED ASSETS(COST) 54,720,522 37,123,047
<br /> LESS ACCUMULATED DEPRECIATION (25,984,337) (16,640,592)
<br /> TOTAL FIXED ASSETS,NET 28,736,186 20,482,455
<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 915,285 178,200
<br /> TOTAL ASSETS 58,094,505 26,254,671
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,489,254 196,882
<br /> SALARIES AND BENEFITS PAYABLE 522,198 69,282
<br /> DUE TO CITY 755,060 29,428
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 165,210 0
<br /> BONDS PAYABLE-CURRENT PORTION 420,000 0
<br /> UNEARNED REVENUE 8,558 88,751
<br /> TOTAL CURRENT LIABILITIES 5,360,280 384,341
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,600,957 1,135,146
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 15,312,166 1,691,869
<br /> TOTAL LIABILITIES 20,672,446 2,076,210
<br /> DEFERRED INFLOWS OF RESOURCES 651,486 125,475
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 997,660 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 35,493,622 24,201,051
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 279,292 (148,065)
<br /> TOTAL FUND EQUITY 36,770,573 24,052,986
<br /> TOTAL LIABILITIES&FUND EQUITY 58,094,505 26,254,671
<br /> 154
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