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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING SEPTEMBER 2019
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 11,654,933 6,211,085
<br /> ACCOUNTS RECEIVABLE 1,813,862 348,085
<br /> INVENTORIES 988,249 9,378
<br /> PREPAID ITEMS 171,185 28,306
<br /> CONSTRUCTION IN PROGRESS 859,050 163,300
<br /> TOTAL CURRENT ASSETS 15,487,278 6,760,155
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,261,359 0
<br /> EMERGENCY RESERVE FUND 2,738,089 1,312,963
<br /> UNRESTRICTED RESERVE FUND 0 0
<br /> TOTAL RESTRICTED ASSETS 3,999,448 1,312,963
<br /> FIXED ASSETS
<br /> PRODUCTION 645,285 13,549,351
<br /> LFG PROJECT 3,831,132 0
<br /> TRANSMISSION 2,305,024 0
<br /> DISTRIBUTION 40,324,913 23,042,971
<br /> GENERAL 10,621,306 1,031,318
<br /> FIXED ASSETS(COST) 57,727,659 37,623,639
<br /> LESS ACCUMULATED DEPRECIATION (29,057,330) (18,476,344)
<br /> TOTAL FIXED ASSETS,NET 28,670,329 19,147,295
<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 (666,984) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 22,612,971 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 546,449 103,606
<br /> TOTAL ASSETS 71,316,475 27,324,019
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,048,208 230,333
<br /> SALARIES AND BENEFITS PAYABLE 619,372 106,176
<br /> DUE TO CITY 752,605 1,128
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 50,229 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 2,730 158,685
<br /> TOTAL CURRENT LIABILITIES 5,473,144 496,322
<br /> LONG TERM LIABILITIES
<br /> LFG PROJECT 619,692 0
<br /> DUE TO COUNTY 0 0
<br /> BONDS PAYABLE,LESS CURRENT PORTION 21,017,279 873,833
<br /> PENSION LIABILITIES 2,430,359 454,388
<br /> TOTAL LONG TERM LIABILITIES 24,067,330 1,328,221
<br /> TOTAL LIABILITIES 29,540,475 1,824,543
<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) 1,642,506 330,314
<br /> TOTAL FUND EQUITY 41,094,306 25,372,025
<br /> TOTAL LIABILITIES&FUND EQUITY 71,316,475 27,324,019
<br /> 173
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