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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING DECEMBER 2018
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,326,562 5,426,780
<br /> ACCOUNTS RECEIVABLE 1,815,956 306,606
<br /> INVENTORIES 804,935 15,115
<br /> PREPAID ITEMS 174,226 24,632
<br /> CONSTRUCTION IN PROGRESS 168,375 299,095
<br /> TOTAL CURRENT ASSETS 14,290,054 6,072,228
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,261,359 0
<br /> EMERGENCY RESERVE FUND 2,647,944 1,186,324
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,948,187 1,300,148
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,539,819
<br /> LFG PROJECT 3,801,373 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 39,858,822 22,754,372
<br /> GENERAL 10,449,424 1,026,164
<br /> FIXED ASSETS(COST) 57,056,771 37,320,356
<br /> LESS ACCUMULATED DEPRECIATION (27,760,033) (17,613,963)
<br /> TOTAL FIXED ASSETS,NET 29,296,738 19,706,393
<br /> INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 0
<br /> LOSS OF REVENUE INTANGIBLE 1,733,743 0
<br /> LESS ACCUMULATED AMORTIZATION (165,883) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 23,114,072 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 909,715 176,807
<br /> TOTAL ASSETS 71,558,766 27,255,576
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,580,759 226,332
<br /> SALARIES AND BENEFITS PAYABLE 523,318 82,958
<br /> DUE TO CITY 706,573 1,444
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 200,916 0
<br /> BONDS PAYABLE-CURRENT PORTION 940,000 260,000
<br /> UNEARNED REVENUE 0 97,069
<br /> TOTAL CURRENT LIABILITIES 6,951,566 667,803
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 619,692 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 21,055,881 874,455
<br /> PENSION LIABILITIES 2,890,601 556,723
<br /> TOTAL LONG TERM LIABILITIES 24,566,174 1,431,178
<br /> TOTAL LIABILITIES 31,517,740 2,098,981
<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) 2,898,259 830,069
<br /> TOTAL FUND EQUITY 39,389,541 25,031,120
<br /> TOTAL LIABILITIES&FUND EQUITY 71,558,766 27,255,576
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