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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING APRIL 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,067,174 3,700,600
<br /> ACCOUNTS RECEIVABLE 1,963,529 305,612
<br /> INVENTORIES 933,187 22,426
<br /> PREPAID ITEMS 146,743 18,125
<br /> CONSTRUCTION IN PROGRESS 650,500 331,626
<br /> TOTAL CURRENT ASSETS 14,761,134 4,378,388
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,599,505 1,174,214
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,636,049 1,288,038
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,396,306
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 38,126,221 22,729,563
<br /> GENERAL 9,954,815 1,024,863
<br /> FIXED ASSETS(COST) 54,829,561 37,150,732
<br /> LESS ACCUMULATED DEPRECIATION (26,339,518) (16,842,909)
<br /> TOTAL FIXED ASSETS,NET 28,490,043 20,307,823
<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 914,171 177,921
<br /> TOTAL ASSETS 58,177,072 26,152,170
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,251,805 218,688
<br /> SALARIES AND BENEFITS PAYABLE 529,264 66,862
<br /> DUE TO CITY 557,600 1,654
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 132,168 0
<br /> BONDS PAYABLE-CURRENT PORTION 420,000 0
<br /> UNEARNED REVENUE 6,847 52,966
<br /> TOTAL CURRENT LIABILITIES 4,897,684 340,169
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,592,491 1,135,007
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 15,303,700 1,691,730
<br /> TOTAL LIABILITIES 20,201,384 2,031,900
<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) 832,920 (206,255)
<br /> TOTAL FUND EQUITY 37,324,202 23,994,795
<br /> TOTAL LIABILITIES&FUND EQUITY 58,177,072 26,152,170
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