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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING JANUARY 2019
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,339,548 5,483,370
<br /> ACCOUNTS RECEIVABLE 2,147,771 311,151
<br /> INVENTORIES 813,811 12,384
<br /> PREPAID ITEMS 199,435 22,259
<br /> CONSTRUCTION IN PROGRESS 194,876 302,027
<br /> TOTAL CURRENT ASSETS 14,695,442 6,131,191
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,261,359 0
<br /> EMERGENCY RESERVE FUND 2,652,752 1,187,526
<br /> UNRESTRICTED RESERVE FUND 38,884 113,824
<br /> TOTAL RESTRICTED ASSETS 3,952,995 1,301,350
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,539,819
<br /> LFG PROJECT 3,619,202 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 39,863,772 22,754,372
<br /> GENERAL 10,449,424 1,026,164
<br /> FIXED ASSETS(COST) 56,879,550 37,320,356
<br /> LESS ACCUMULATED DEPRECIATION (27,755,167) (17,709,921)
<br /> TOTAL FIXED ASSETS,NET 29,124,383 19,610,435
<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 (221,560) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 23,058,394 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 550,905 104,720
<br /> TOTAL ASSETS 71,382,119 27,147,696
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,639,645 215,064
<br /> SALARIES AND BENEFITS PAYABLE 612,726 92,230
<br /> DUE TO CITY 881,970 23,601
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 184,173 0
<br /> BONDS PAYABLE-CURRENT PORTION 940,000 260,000
<br /> UNEARNED REVENUE 10,010 110,909
<br /> TOTAL CURRENT LIABILITIES 7,268,524 701,804
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 619,692 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 21,051,592 874,385
<br /> PENSION LIABILITIES 2,430,359 454,388
<br /> TOTAL LONG TERM LIABILITIES 24,101,643 1,328,773
<br /> TOTAL LIABILITIES 31,370,167 2,030,578
<br /> DEFERRED INFLOWS OF RESOURCES 681,694 127,452
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 1,261,359 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 38,193,351 25,057,886
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) (124,452) (68,220)
<br /> TOTAL FUND EQUITY 39,330,258 24,989,666
<br /> TOTAL LIABILITIES&FUND EQUITY 71,382,119 27,147,696
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