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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />DECEMBER 31, 2018
<br />The notes to the financial statements are an integral part of this statement.
<br />20
<br />Primary Government
<br />Governmental
<br />Business -type
<br />Component
<br />Activities
<br />Activities
<br />Total
<br />Unit - HRA
<br />ASSETS
<br />Cash and investments
<br />$ 28,964,224
<br />$ 30,263,783
<br />$ 59,228,007
<br />$ 893,978
<br />Restricted cash and investments
<br />-
<br />1,261,359
<br />1,261,359
<br />-
<br />Receivables:
<br />Interest
<br />132,030
<br />45,868
<br />177,898
<br />-
<br />Taxes
<br />256,578
<br />-
<br />256,578
<br />6,279
<br />Accounts
<br />449,945
<br />2,351,840
<br />2,801,785
<br />-
<br />Special assessments
<br />355,487
<br />-
<br />355,487
<br />-
<br />Notes, net
<br />1,969,512
<br />1,969,512
<br />623,206
<br />Due from other governments
<br />1,330,625
<br />1,330,625
<br />-
<br />Due from primary government
<br />-
<br />-
<br />195,682
<br />Internal balances
<br />170,202
<br />(170,202)
<br />-
<br />-
<br />Inventories
<br />-
<br />2,012,308
<br />2,012,308
<br />Prepaid items
<br />239,040
<br />198,917
<br />437,957
<br />-
<br />Property held for resale
<br />175,000
<br />-
<br />175,000
<br />174,100
<br />Pension asset
<br />1,146,722
<br />-
<br />1,146,722
<br />-
<br />Capital assets:
<br />Nondepreciable
<br />40,927,633
<br />2,311,447
<br />43,239,080
<br />257,100
<br />Depreciable (net)
<br />53,646,917
<br />115,489,424
<br />169,136,341
<br />103,607
<br />Total assets
<br />129,763,915
<br />153,764,744
<br />283,528,659
<br />2,253,952
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred outflows - pensions
<br />6,108,495
<br />788,033
<br />6,896,528
<br />10,241
<br />Deferred outflows - other postemployment benefits
<br />36,068
<br />5,980
<br />42,048
<br />-
<br />Deferred charge on refunding
<br />149,521
<br />34,810
<br />184,331
<br />-
<br />Total deferred outflows of resources
<br />6,294,084
<br />828,823
<br />7,122,907
<br />10,241
<br />LIABILITIES
<br />Accounts payable
<br />503,323
<br />3,783,510
<br />4,286,833
<br />31,333
<br />Salaries payable
<br />243,610
<br />169,648
<br />413,258
<br />2,959
<br />Due to other governments
<br />17,678
<br />222,652
<br />240,330
<br />-
<br />Due to primary government
<br />-
<br />-
<br />-
<br />Due to component unit
<br />195,682
<br />-
<br />195,682
<br />Accrued interest payable
<br />184,755
<br />356,718
<br />541,473
<br />Customer deposits payable
<br />-
<br />1,056,735
<br />1,056,735
<br />Unearned revenue
<br />613,108
<br />100,053
<br />713,161
<br />Non-current liabilities:
<br />Other due within one year
<br />1,932,411
<br />2,068,097
<br />4,000,508
<br />Other due in more than one year
<br />17,279,572
<br />31,167,294
<br />48,446,866
<br />Net OPEB liability due in more than one year
<br />813,033
<br />204,048
<br />1,017,081
<br />-
<br />Net pension liability due in more than one year
<br />7,477,029
<br />3,727,513
<br />11,204,542
<br />51,835
<br />Total liabilities
<br />29,260,201
<br />42,856,268
<br />72,116,469
<br />86,127
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred inflows - pensions
<br />7,784,239
<br />1,062,545
<br />8,846,784
<br />15,585
<br />NET POSITION
<br />Net investment in capital assets
<br />77,092,055
<br />85,104,737
<br />162,196,792
<br />360,707
<br />Restricted for:
<br />Debt service
<br />1,294,423
<br />1,261,359
<br />2,555,782
<br />-
<br />Landfill mitigation
<br />76,896
<br />-
<br />76,896
<br />Economic development
<br />1,263,463
<br />1,263,463
<br />Law enforcement
<br />20,742
<br />20,742
<br />Park improvements
<br />318,729
<br />318,729
<br />Streets
<br />1,261,795
<br />1,261,795
<br />-
<br />Housing and redevelopment
<br />-
<br />-
<br />-
<br />1,801,774
<br />Unrestricted
<br />17,685,456
<br />24,308,658
<br />41,994,114
<br />-
<br />Total net position
<br />$ 99,013,559
<br />$ 110,674,754
<br />$ 209,688,313
<br />$ 2,162,481
<br />The notes to the financial statements are an integral part of this statement.
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