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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING MARCH 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,037,269 3,670,125
<br /> ACCOUNTS RECEIVABLE 1,855,331 285,124
<br /> INVENTORIES 951,836 17,092
<br /> PREPAID ITEMS 146,816 18,673
<br /> CONSTRUCTION IN PROGRESS 600,656 319,901
<br /> TOTAL CURRENT ASSETS 14,591,908 4,310,915
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,597,260 1,173,653
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,633,803 1,287,477
<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 38,103,267 22,724,766
<br /> GENERAL 9,886,490 1,017,334
<br /> FIXED ASSETS(COST) 54,738,281 37,132,106
<br /> LESS ACCUMULATED DEPRECIATION (26,161,762) (16,741,658)
<br /> TOTAL FIXED ASSETS,NET 28,576,519 20,390,449
<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 914,728 178,060
<br /> TOTAL ASSETS 58,092,635 26,166,901
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,233,120 193,537
<br /> SALARIES AND BENEFITS PAYABLE 559,049 74,594
<br /> DUE TO CITY 732,638 3,010
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 148,689 0
<br /> BONDS PAYABLE-CURRENT PORTION 420,000 0
<br /> UNEARNED REVENUE 7,703 70,858
<br /> TOTAL CURRENT LIABILITIES 5,101,198 341,999
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,596,724 1,135,076
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 15,307,933 1,691,799
<br /> TOTAL LIABILITIES 20,409,131 2,033,798
<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) 540,737 (193,423)
<br /> TOTAL FUND EQUITY 37,032,018 24,007,628
<br /> TOTAL LIABILITIES&FUND EQUITY 58,092,635 26,166,901
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