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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2018
<br />NET POSITION
<br />Net investment in capital assets 1,658,234 25,155,640 9,622,325
<br />Restricted for debt service - - - -
<br />Unrestricted 4,296,260 196,078 4,529,146 723,564
<br />Total net position $ 5,954,494 $ 196,078 $ 29,684,786 $ 10,345,889
<br />The notes to the financial statements are an integral part of this statement.
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<br />Municipal
<br />Storm
<br />Liquor
<br />Garbage
<br />Sewer
<br />Water
<br />ASSETS
<br />Current assets:
<br />Cash and investments
<br />$ 4,150,475
<br />$ 201,306
<br />$ 4,383,877
<br />$ 791,886
<br />Restricted cash and investments
<br />-
<br />-
<br />-
<br />-
<br />Receivables (net):
<br />Interest
<br />19,939
<br />751
<br />21,106
<br />2,801
<br />Accounts
<br />-
<br />4,765
<br />363,494
<br />570
<br />Due from other funds
<br />-
<br />130,039
<br />345,343
<br />40,862
<br />Inventories
<br />1,192,258
<br />-
<br />-
<br />-
<br />Prepaid items
<br />-
<br />-
<br />-
<br />-
<br />Total current assets
<br />5,362,672
<br />336,861
<br />5,113,820
<br />836,119
<br />Noncurrent assets:
<br />Capital assets:
<br />Nondepreciable
<br />753,961
<br />-
<br />411,095
<br />-
<br />Depreciable
<br />3,021,987
<br />52,797,991
<br />18,187,777
<br />Accumulated depreciation
<br />(2,117,714)
<br />(19,273,446)
<br />(8,565,452)
<br />Total noncurrent assets
<br />1,658,234
<br />-
<br />33,935,640
<br />9,622,325
<br />Total assets
<br />7,020,906
<br />336,861
<br />39,049,460
<br />10,458,444
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred outflows - pensions
<br />87,618
<br />2,969
<br />65,376
<br />10,559
<br />Deferred outflows - other postemployment benefits
<br />2,837
<br />-
<br />2,957
<br />186
<br />Deferred charge on refunding
<br />-
<br />-
<br />-
<br />-
<br />Total deferred outflows of resources
<br />90,455
<br />2,969
<br />68,333
<br />10,745
<br />LIABILITIES
<br />Accounts and contracts payable
<br />366,510
<br />122,139
<br />27,837
<br />29,404
<br />Salaries payable
<br />16,551
<br />547
<br />12,625
<br />1,892
<br />Due to other governments
<br />69,982
<br />-
<br />-
<br />-
<br />Due to other funds
<br />-
<br />1,525
<br />523
<br />9,268
<br />Unearned revenue
<br />2,984
<br />-
<br />-
<br />-
<br />Accrued interest
<br />-
<br />105,002
<br />Customer deposits payable
<br />-
<br />-
<br />-
<br />Compensated absences payable - current
<br />29,748
<br />18,378
<br />1,923
<br />Notes payable - current
<br />-
<br />-
<br />-
<br />Bonds payable - current
<br />-
<br />-
<br />420,000
<br />-
<br />Total current liabilities
<br />485,775
<br />124,211
<br />584,365
<br />42,487
<br />Noncurrent liabilities:
<br />Compensated absences payable
<br />42,588
<br />-
<br />13,940
<br />3,919
<br />Net other postemployment benefits obligation
<br />51,738
<br />-
<br />44,347
<br />7,391
<br />Net pension liability
<br />443,436
<br />15,024
<br />330,870
<br />53,436
<br />Notes payable
<br />-
<br />-
<br />-
<br />-
<br />Bonds payable
<br />-
<br />-
<br />8,360,000
<br />-
<br />Total noncurrent liabilities
<br />537,762
<br />15,024
<br />8,749,157
<br />64,746
<br />Total liabilities
<br />1,023,537
<br />139,235
<br />9,333,522
<br />107,233
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred inflows - pensions
<br />133,330
<br />4,517
<br />99,485
<br />16,067
<br />NET POSITION
<br />Net investment in capital assets 1,658,234 25,155,640 9,622,325
<br />Restricted for debt service - - - -
<br />Unrestricted 4,296,260 196,078 4,529,146 723,564
<br />Total net position $ 5,954,494 $ 196,078 $ 29,684,786 $ 10,345,889
<br />The notes to the financial statements are an integral part of this statement.
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