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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING AUGUST 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,918,777 4,697,092
<br /> ACCOUNTS RECEIVABLE 2,714,818 614,239
<br /> INVENTORIES 707,569 16,887
<br /> PREPAID ITEMS 127,379 17,745
<br /> CONSTRUCTION IN PROGRESS 1,045,975 304,623
<br /> TOTAL CURRENT ASSETS 16,514,518 5,650,587
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 997,660 0
<br /> EMERGENCY RESERVE FUND 2,617,690 1,178,761
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,654,234 1,292,584
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,514,153
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 38,556,963 22,740,586
<br /> GENERAL 10,106,791 1,019,980
<br /> FIXED ASSETS(COST) 55,412,278 37,274,720
<br /> LESS ACCUMULATED DEPRECIATION (27,053,509) (17,231,349)
<br /> TOTAL FIXED ASSETS,NET 28,358,769 20,043,371
<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 911,943 177,364
<br /> TOTAL ASSETS 59,815,141 27,163,906
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,668,834 259,378
<br /> SALARIES AND BENEFITS PAYABLE 519,351 101,497
<br /> DUE TO CITY 680,710 2,187
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 66,084 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 3,423 171,086
<br /> TOTAL CURRENT LIABILITIES 5,938,403 534,148
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 11,675,560 1,134,731
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 15,386,769 1,691,454
<br /> TOTAL LIABILITIES 21,325,172 2,225,602
<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) 1,347,202 611,778
<br /> TOTAL FUND EQUITY 37,838,483 24,812,829
<br /> TOTAL LIABILITIES&FUND EQUITY 59,815,141 27,163,906
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