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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING JUNE 2019
<br />76
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />10,627,308
<br />5,524,586
<br />ACCOUNTS RECEIVABLE
<br />2,118,863
<br />377,847
<br />INVENTORIES
<br />1,065,016
<br />9,200
<br />PREPAID ITEMS
<br />154,858
<br />17,635
<br />CONSTRUCTION IN PROGRESS
<br />641,560
<br />63,319
<br />TOTAL CURRENT ASSETS
<br />14,607,606
<br />5,992,586
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,261,359
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,721,374
<br />1,308,784
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />3,982,733
<br />1,308,784
<br />FIXED ASSETS
<br />PRODUCTION
<br />645,285
<br />13,539,819
<br />LFG PROJECT
<br />3,821,139
<br />0
<br />TRANSMISSION
<br />2,301,867
<br />0
<br />DISTRIBUTION
<br />39,973,715
<br />23,042,971
<br />GENERAL
<br />10,497,042
<br />1,031,318
<br />FIXED ASSETS (COST)
<br />57,239,047
<br />37,614,108
<br />LESS ACCUMULATED DEPRECIATION
<br />(28,634,241)
<br />(18,192,118)
<br />TOTAL FIXED ASSETS, NET
<br />28,604,806
<br />19,421,990
<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 />(499,950)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />22,780,004
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />548,120
<br />104,024
<br />TOTAL ASSETS
<br />70,523,269
<br />26,827,384
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,004,263
<br />234,969
<br />SALARIES AND BENEFITS PAYABLE
<br />538,096
<br />90,846
<br />DUE TO CITY
<br />748,406
<br />1,935
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />100,458
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />225,000
<br />0
<br />UNEARNED REVENUE
<br />5,460
<br />179,450
<br />TOTAL CURRENT LIABILITIES
<br />5,621,683
<br />507,201
<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 />21,030,147
<br />874,040
<br />PENSION LIABILITIES
<br />2,430,359
<br />454,388
<br />TOTAL LONG TERM LIABILITIES
<br />24,080,198
<br />1,328,428
<br />TOTAL LIABILITIES
<br />29,701,881
<br />1,835,629
<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 />687,894
<br />(177,408)
<br />TOTAL FUND EQUITY
<br />40,139,694
<br />24,864,303
<br />TOTAL LIABILITIES & FUND EQUITY
<br />70,523,269
<br />26,827,384
<br />76
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