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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING OCTOBER 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,293,851 5,186,349
<br /> ACCOUNTS RECEIVABLE 1,854,210 432,900
<br /> INVENTORIES 855,831 15,782
<br /> PREPAID ITEMS 160,390 27,138
<br /> CONSTRUCTION IN PROGRESS 1,102,242 303,795
<br /> TOTAL CURRENT ASSETS 15,266,524 5,965,964
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,261,359 0
<br /> EMERGENCY RESERVE FUND 2,630,571 1,181,981
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,930,814 1,295,805
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,530,438
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 38,809,301 22,739,706
<br /> GENERAL 10,412,546 1,019,980
<br /> FIXED ASSETS(COST) 55,970,372 37,290,124
<br /> LESS ACCUMULATED DEPRECIATION (27,406,453) (17,422,125)
<br /> TOTAL FIXED ASSETS,NET 28,563,918 19,868,000
<br /> INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 0
<br /> LOSS OF REVENUE INTANGIBLE 981,883 0
<br /> LESS ACCUMULATED AMORTIZATION (54,527) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 22,473,568 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 910,829 177,086
<br /> TOTAL ASSETS 71,145,653 27,306,854
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,194,122 221,194
<br /> SALARIES AND BENEFITS PAYABLE 599,956 97,889
<br /> DUE TO CITY 573,131 1,662
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 33,042 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 1,712 134,077
<br /> TOTAL CURRENT LIABILITIES 5,401,962 454,822
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 820,608 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 22,005,674 1,134,593
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 25,716,883 1,691,316
<br /> TOTAL LIABILITIES 31,118,846 2,146,138
<br /> DEFERRED INFLOWS OF RESOURCES 651,486 125,475
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 1,261,359 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 35,229,923 24,201,051
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 2,884,040 834,190
<br /> TOTAL FUND EQUITY 39,375,322 25,035,241
<br /> TOTAL LIABILITIES&FUND EQUITY 71,145,653 27,306,854
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