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Elk River Municipal Utilities
<br />Elk River, Minnesota
<br />Statement of Net Position (Continued)
<br />December 31, 2019
<br />ElectricWaterTotal
<br />Current Liabilities
<br />Accounts payable$3,205,772$129,059$3,334,831
<br />Salaries and benefits payable138,64821,733160,381
<br />Accrued interest payable282,49613,063295,559
<br />Due to other City funds862,38635,955898,341
<br />Due to other governments159,2862,358161,644
<br />Customer deposits payable884,299151,2251,035,524
<br />Unearned revenue3,000100,952103,952
<br />Compensated absences 358,16136,567394,728
<br />Notes payable - current portion203,952-203,952
<br />Bonds payable - current portion924,000271,0001,195,000
<br />Total Current Liabilities7,022,000761,9127,783,912
<br />Non-current Liabilities
<br />Other postemployment benefits liability174,95042,822217,772
<br />Notes payable - less current portion415,740-415,740
<br />Bonds payable, net - less current portion20,080,411602,62520,683,036
<br />Net pension liability2,456,809418,1552,874,964
<br />Total Non-current Liabilities23,127,9101,063,60224,191,512
<br />Total Liabilities30,149,9101,825,51431,975,424
<br />Deferred Inflows of Resources
<br />Deferred pension resources520,93488,042608,976
<br />Net Position
<br />Net investment in capital assets31,173,64318,352,67449,526,317
<br />Restricted for debt service1,261,359-1,261,359
<br />Unrestricted9,617,1037,005,03316,622,136
<br />Total Net Position$42,052,105$25,357,707$67,409,812
<br />The notes to the financial statements are an integral part of this statement.
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