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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING JUNE 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,670,635 4,007,737
<br /> ACCOUNTS RECEIVABLE 2,742,905 416,512
<br /> INVENTORIES 982,949 11,358
<br /> PREPAID ITEMS 113,526 11,984
<br /> CONSTRUCTION IN PROGRESS 803,893 284,775
<br /> TOTAL CURRENT ASSETS 16,313,908 4,732,366
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,609,291 1,176,661
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,645,835 1,290,485
<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 38,277,583 22,740;586
<br /> GENERAL 10,095,047 1,019,959
<br /> FIXED ASSETS(COST) 55,121,154 37,246,814
<br /> LESS ACCUMULATED DEPRECIATION (26,697,878) (17,028,172)
<br /> TOTAL FIXED ASSETS,NET 28,423,276 20,218,643
<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 913,057 177,643
<br /> TOTAL ASSETS 59,671,752 26,419,136
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,299,521 201,070
<br /> SALARIES AND BENEFITS PAYABLE 506,326 64,140
<br /> DUE TO CITY 746,745 6,211
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 99,126 0
<br /> BONDS PAYABLE-CURRENT PORTION 420,000 0
<br /> UNEARNED REVENUE 5,135 172,549
<br /> TOTAL CURRENT LIABILITIES 6,076,853 443,969
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,584,025 1,134,869
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 15,295,234 1,691,592
<br /> TOTAL LIABILITIES 21,372,087 2,135,562
<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) 1,156,897 (42,951)
<br /> TOTAL FUND EQUITY 37,648,179 24,158,100
<br /> TOTAL LIABILITIES&FUND EQUITY 59,671,752 26,419,136
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