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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING MAY 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 12,009,412 3,852,755
<br /> ACCOUNTS RECEIVABLE 1,517,235 291,419
<br /> INVENTORIES 1,042,593 17,056
<br /> PREPAID ITEMS 124,097 14,775
<br /> CONSTRUCTION IN PROGRESS 726,224 283,479
<br /> TOTAL CURRENT ASSETS 15,419,560 4,459,485
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,601,502 1,174,714
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,638,046 1,288,537
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,486,269
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 38,244,394 22,729,563
<br /> GENERAL 10,034,567 1,019,959
<br /> FIXED ASSETS(COST) 55,027,486 37,235,791
<br /> LESS ACCUMULATED DEPRECIATION (26,518,541) (16,926,641)
<br /> TOTAL FIXED ASSETS,NET 28,508,945 20,309,150
<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 913,614 177,782
<br /> TOTAL ASSETS 58,855,841 26,234,954
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,668,279 232,019
<br /> SALARIES AND BENEFITS PAYABLE 508,078 59,338
<br /> DUE TO CITY 640,206 2,136
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 115,647 0
<br /> BONDS PAYABLE-CURRENT PORTION 420,000 0
<br /> UNEARNED REVENUE 5,991 155,732
<br /> TOTAL CURRENT LIABILITIES 5,358,201 449,225
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,588,258 1,134,938
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 15,299,467 1,691,661
<br /> TOTAL LIABILITIES 20,657,668 2,140,886
<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) 1,055,405 (232,458)
<br /> TOTAL FUND EQUITY 37,546,687 23,968,593
<br /> TOTAL LIABILITIES&FUND EQUITY 58,855,841 26,234,954
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