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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER, MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING AUGUST 2019
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 9,999,526 5,950,645
<br /> ACCOUNTS RECEIVABLE 3,254,609 445,052
<br /> INVENTORIES 978,368 12,002
<br /> PREPAID ITEMS 108,342 16,139
<br /> CONSTRUCTION IN PROGRESS 774,021 112,937
<br /> TOTAL CURRENT ASSETS 15,114,865 6,536,774
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,261,359 0
<br /> EMERGENCY RESERVE FUND 2,733,042 1,311,701
<br /> UNRESTRICTED RESERVE FUND 0 0
<br /> TOTAL RESTRICTED ASSETS 3,994,401 1,311,701
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,549,351
<br /> LFG PROJECT 3,831,132 0
<br /> TRANSMISSION 2,313,413 0
<br /> DISTRIBUTION 40,201,019 23,042,971
<br /> GENERAL 10,621,076 1,031,318
<br /> FIXED ASSETS(COST) 57,611,924 37,623,639
<br /> LESS ACCUMULATED DEPRECIATION (28,877,966) (18,381,642)
<br /> TOTAL FIXED ASSETS,NET 28,733,958 19,241,998
<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 (611,306) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 22,668,648 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 547,006 103,745
<br /> TOTAL ASSETS 71,058,879 27,194,219
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,085,427 234,223
<br /> SALARIES AND BENEFITS PAYABLE 596,206 97,440
<br /> DUE TO CITY 704,478 1,564
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 66,972 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 3,640 177,929
<br /> TOTAL CURRENT LIABILITIES 5,456,723 511,157
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 619,692 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 21,021,568 873,902
<br /> PENSION LIABILITIES 2,430,359 454,388
<br /> TOTAL LONG TERM LIABILITIES 24,071,619 1,328,290
<br /> TOTAL LIABILITIES 29,528,342 1,839,446
<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) 1,397,043 185,610
<br /> TOTAL FUND EQUITY 40,848,843 25,227,321
<br /> TOTAL LIABILITIES&FUND EQUITY 71,058,879 27,194,219
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