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Elk River Municipal Utilities
<br /> Elk River, Minnesota
<br /> Notes to the Financial Statements
<br /> December 31, 2018
<br /> Note 2: Detailed Notes on All Funds (Continued)
<br /> The annual debt service requirements to maturity for the generator note are as follows:
<br /> Year Ending
<br /> December 31, Principal Interest Total
<br /> 2019 $ 200,916 $ - $ 200,916
<br /> 2020 203,952 - 203,952
<br /> 2021 206,616 - 206,616
<br /> 2022 209,124 - 209,124
<br /> Total $ 820,608 $ - $ 820,608
<br /> Changes in Long-term Liabilities
<br /> Long-term liability activity for the year ended December 31, 2018 was as follows:
<br /> Beginning Ending Due Within
<br /> Balance Increases Decreases Balance One Year
<br /> Business-type Activities •
<br /> Bonds Payable
<br /> General obligation
<br /> revenue bonds $ 1,910,000 $ - $ (335,000) $ 1,575,000 $ 860,000
<br /> Revenue bonds 11,325,000 10,000,000 (640,000) 20,685,000 340,000
<br /> Unamortized premium
<br /> on bonds 484,706 435,104 (49,474) 870,336 -
<br /> Total Bonds Payable, Net 13,719,706 10,435,104 (1,024,474) 23,130,336 1,200,000
<br /> Notes Payable 1,018,860 (198,252) 820,608 200,916
<br /> Compensated
<br /> Absences Payable 340,047 285,528 (231,624) 393,951 197,132
<br /> Net Pension Liability
<br /> GERF 3,447,324 11,483 (574,060) 2,884,747 -
<br /> OPEB Liability 78,537 22,035 - 100,572 -
<br /> Business-type Activity
<br /> Long-term
<br /> Liabilities $ 18,604,474 $ 10,754,150 $ (2,028,410) $ 27,330,214 $ 1,598,048
<br /> 39
<br /> 126
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