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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING MAY 2019
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 10,251,944 5,315,468
<br /> ACCOUNTS RECEIVABLE 2,374,753 307,391
<br /> INVENTORIES 1,035,878 13,301
<br /> PREPAID ITEMS 145,640 18,117
<br /> CONSTRUCTION IN PROGRESS 414,157 60,544
<br /> TOTAL CURRENT ASSETS 14,222,372 5,714,822
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,261,359 0
<br /> EMERGENCY RESERVE FUND 2,712,169 1,306,483
<br /> UNRESTRICTED RESERVE FUND 0 0
<br /> TOTAL RESTRICTED ASSETS 3,973,528 1,306,483
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,539,819
<br /> LFG PROJECT 3,821,139 0
<br /> TRANSMISSION 2,301,867 0
<br /> DISTRIBUTION 39,973,715 23,042,971
<br /> GENERAL 10,497,042 1,031,318
<br /> FIXED ASSETS(COST) 57,239,047 37,614,108
<br /> LESS ACCUMULATED DEPRECIATION (28,452,065) (18,095,705)
<br /> TOTAL FIXED ASSETS,NET 28,786,982 19,518,403
<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 (444,272) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 22,835,682 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 548,677 104,163
<br /> TOTAL ASSETS 70,367,242 26,643,871
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 3,940,699 258,787
<br /> SALARIES AND BENEFITS PAYABLE 521,438 85,329
<br /> DUE TO CITY 655,369 1,619
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 117,201 0
<br /> BONDS PAYABLE-CURRENT PORTION 225,000 0
<br /> UNEARNED REVENUE 6,370 36,476
<br /> TOTAL CURRENT LIABILITIES 5,466,077 382,210
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 619,692 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 21,034,436 874,109
<br /> PENSION LIABILITIES 2,430,359 454,388
<br /> TOTAL LONG TERM LIABILITIES 24,084,487 1,328,497
<br /> TOTAL LIABILITIES 29,550,564 1,710,707
<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) 683,184 (236,000)
<br /> TOTAL FUND EQUITY 40,134,984 24,805,711
<br /> TOTAL LIABILITIES&FUND EQUITY 70,367,242 26,643,871
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