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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING APRIL 2019
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />10,564,420
<br />5,316,647
<br />ACCOUNTS RECEIVABLE
<br />1,585,418
<br />259,479
<br />INVENTORIES
<br />854,274
<br />8,893
<br />PREPAID ITEMS
<br />162,077
<br />20,150
<br />CONSTRUCTION IN PROGRESS
<br />269,311
<br />20,412
<br />TOTAL CURRENT ASSETS
<br />13,435,499
<br />5,625,582
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,261,359
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,703,349
<br />1,304,278
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />3,964,708
<br />1,304,278
<br />FIXED ASSETS
<br />PRODUCTION
<br />645,285
<br />13,539,819
<br />LFG PROJECT
<br />3,619,202
<br />0
<br />TRANSMISSION
<br />2,301,867
<br />0
<br />DISTRIBUTION
<br />39,964,720
<br />23,042,971
<br />GENERAL
<br />10,477,744
<br />1,031,318
<br />FIXED ASSETS (COST)
<br />57,008,817
<br />37,614,108
<br />LESS ACCUMULATED DEPRECIATION
<br />(28,288,432)
<br />(17,999,292)
<br />TOTAL FIXED ASSETS, NET
<br />28,720,385
<br />19,614,816
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />1,733,743
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(388,594)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />22,891,360
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />549,234
<br />104,302
<br />TOTAL ASSETS
<br />69,561,186
<br />26,648,979
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />3,256,683
<br />210,441
<br />SALARIES AND BENEFITS PAYABLE
<br />608,082
<br />95,705
<br />DUE TO CITY
<br />573,729
<br />1,164
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />133,944
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />225,000
<br />0
<br />UNEARNED REVENUE
<br />7,280
<br />55,084
<br />TOTAL CURRENT LIABILITIES
<br />4,804,717
<br />362,394
<br />LONG TERM LIABILITIES
<br />LFG PROJECT
<br />619,692
<br />0
<br />DUE TO COUNTY
<br />0
<br />0
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />21,038,725
<br />874,178
<br />PENSION LIABILITIES
<br />2,430,359
<br />454,388
<br />TOTAL LONG TERM LIABILITIES
<br />24,088,776
<br />1,328,566
<br />TOTAL LIABILITIES
<br />28,893,493
<br />1,690,960
<br />DEFERRED INFLOWS OF RESOURCES
<br />681,694
<br />127,452
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,261,359
<br />0
<br />CONTRIBUTED CAPITAL
<br />0
<br />0
<br />RETAINED EARNINGS
<br />38,190,441
<br />25,041,711
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />534,199
<br />(211,145)
<br />TOTAL FUND EQUITY
<br />39,985,999
<br />.24,830,566
<br />TOTAL LIABILITIES & FUND EQUITY
<br />69,561,186
<br />26,648,979
<br />46
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