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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING MARCH 2019
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 9,890,776 5,271,302
<br /> ACCOUNTS RECEIVABLE 2,345,305 287,158
<br /> INVENTORIES 859,240 10,780
<br /> PREPAID ITEMS 186,880 23,646
<br /> CONSTRUCTION IN PROGRESS 225,123 19,763
<br /> TOTAL CURRENT ASSETS 13,507,324 5,612,650
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,261,359 0
<br /> EMERGENCY RESERVE FUND 2,700,528 1,303,573
<br /> UNRESTRICTED RESERVE FUND 0 0
<br /> TOTAL RESTRICTED ASSETS 3,961,887 1,303,573
<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 39,940,150 23,042,971
<br /> GENERAL 10,457,128 1,026,164
<br /> FIXED ASSETS(COST) 56,963,632 37,608,954
<br /> LESS ACCUMULATED DEPRECIATION (28,110,317) (17,902,799)
<br /> TOTAL FIXED ASSETS,NET 28,853,315 19,706,155
<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 (332,916) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 22,947,038 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 549,791 104,442
<br /> TOTAL ASSETS 69,819,355 26,726,819
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,355,192 196,042
<br /> SALARIES AND BENEFITS PAYABLE 633,860 112,907
<br /> DUE TO CITY 728,129 1,416
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 150,687 0
<br /> BONDS PAYABLE-CURRENT PORTION 225,000 0
<br /> UNEARNED REVENUE 8,190 73,692
<br /> TOTAL CURRENT LIABILITIES 5,101,059 384,057
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 619,692 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 21,043,014 874,247
<br /> PENSION LIABILITIES 2,430,359 454,388
<br /> TOTAL LONG TERM LIABILITIES 24,093,065 1,328,635
<br /> TOTAL LIABILITIES 29,194,124 1,712,692
<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 38,190,441 25,041,711
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 491,737 (155,036)
<br /> TOTAL FUND EQUITY 39,943,537 24,886,675
<br /> TOTAL LIABILITIES&FUND EQUITY 69,819,355 26,726,819
<br /> 364
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