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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING JULY 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 15,573,733 4,484,234
<br /> ACCOUNTS RECEIVABLE 2,160,038 355,707
<br /> INVENTORIES 797,826 11,844
<br /> PREPAID ITEMS 105,748 12,299
<br /> CONSTRUCTION IN PROGRESS 903,022 299,603
<br /> TOTAL CURRENT ASSETS 19,540,367 5,163,686
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,613,192 1,177,636
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,649,736 1,291,460
<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 38,449,214 22,740,586
<br /> GENERAL 10,106,791 1,019,980
<br /> FIXED ASSETS(COST) 55,304,529 37,246,836
<br /> LESS ACCUMULATED DEPRECIATION (26,875,556) (17,129,703)
<br /> TOTAL FIXED ASSETS,NET 28,428,973 20,117,133
<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 912,500 177,503
<br /> TOTAL ASSETS 62,907,253 26,749,783
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 7,612,341 242,713
<br /> SALARIES AND BENEFITS PAYABLE 533,361 70,737
<br /> DUE TO CITY 812,387 3,345
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 82,605 0
<br /> BONDS PAYABLE-CURRENT PORTION 420,000 0
<br /> UNEARNED REVENUE 4,279 189,365
<br /> TOTAL CURRENT LIABILITIES 9,464,973 506,160
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,579,793 1,134,800
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 15,291,002 1,691,523
<br /> TOTAL LIABILITIES 24,755,974 2,197,683
<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) 1,008,511 225,575
<br /> TOTAL FUND EQUITY 37,499,792 24,426,626
<br /> TOTAL LIABILITIES&FUND EQUITY 62,907,253 26,749,783
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