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CITY OF ELK RIVER
<br />STATEMENT OF NET POSITION
<br />DECEMBER 31, 2019
<br />Primary Government
<br />Governmental Business -Type Component Unit
<br />Activities Activities Total HRA
<br />ASSETS
<br />Cash and Investments
<br />$ 58,653,196
<br />Restricted Cash and Investments
<br />-
<br />Receivables:
<br />Accrued Interest
<br />155,703
<br />Taxes
<br />866,807
<br />Special Assessments
<br />306,891
<br />Other Accounts Receivable
<br />547,818
<br />Notes Receivable, Net
<br />1,798,366
<br />Due from Other Governments
<br />2,543,860
<br />Due from Primary Government
<br />-
<br />Due from Component Unit
<br />17,020
<br />Internal Balances
<br />235,674
<br />Prepaid Items
<br />249,322
<br />Inventories
<br />-
<br />Land Held for Resale
<br />175,000
<br />Pension Asset
<br />205,427
<br />Capital Assets:
<br />Nondepreciable:
<br />Land
<br />40,946,181
<br />Construction in Progress
<br />12,883,985
<br />Depreciable:
<br />Buildings and Building Improvements
<br />44,997,927
<br />Improvements Other than Buildings
<br />6,557,771
<br />Infrastructure
<br />71,116,985
<br />Distribution/Collection Systems
<br />-
<br />Intangible Assets
<br />-
<br />Equipment and Furniture
<br />14,298,469
<br />Total Capital Assets
<br />190,801,318
<br />Less: Accumulated Depreciation
<br />(84,966,178)
<br />Total Capital Assets, Net
<br />105,835,140
<br />Total Assets
<br />171,590,224
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred Outflows - Pensions
<br />4,598,580
<br />Deferred Outflows - OPEB
<br />45,942
<br />Deferred Charge on Debt Refunding
<br />113,256
<br />Total Deferred Outflows of Resources
<br />41757,778
<br />LIABILITIES
<br />Accounts and Contracts Payable
<br />4,525,709
<br />Accrued Salaries Payable
<br />297,567
<br />Due to Other Governments
<br />44,126
<br />Due to Primary Government
<br />-
<br />Due to Component Unit
<br />196,105
<br />Customer Deposits Payable
<br />-
<br />Unearned Revenue
<br />645,014
<br />Accrued Interest Payable
<br />490,640
<br />Compensated Absences - Due Within One Year
<br />644,219
<br />Notes Payable - Due Within One Year
<br />-
<br />Bonds Payable - Due Within One Year
<br />1,900,000
<br />Noncurrent Liabilities:
<br />Other Postemployment Benefits
<br />740,405
<br />Net Pension Liability
<br />7,541,740
<br />Compensated Absences - Due in More Than One Year
<br />963,385
<br />Notes Payable - Due in More Than One Year
<br />-
<br />Bonds Payable - Due in More Than One Year
<br />50,291,113
<br />Total Liabilities
<br />68,280,023
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred Inflows - Pensions
<br />6,126,484
<br />Deferred Inflows - OPEB
<br />87,682
<br />Total Deferred Inflows of Resources
<br />6,214,166
<br />NET POSITION
<br />Net Investment in Capital Assets
<br />78,288,782
<br />Restricted for:
<br />Debt Service
<br />1,722,960
<br />Parks and Recreation Improvements
<br />409,694
<br />Landfill Mitigation
<br />47,334
<br />Economic Development
<br />1,321,585
<br />Law Enforcement
<br />34,368
<br />Net Pension Asset
<br />205,427
<br />Housing and Redevelopment
<br />-
<br />Unrestricted
<br />19,823,663
<br />Total Net Position
<br />$ 101,853,813
<br />$ 33,543,264
<br />$ 92,196,460 $
<br />831,014
<br />1,261,359
<br />1,261,359
<br />-
<br />60,000
<br />215,703
<br />9,745
<br />-
<br />866,807
<br />-
<br />-
<br />306,891
<br />-
<br />2,835,347
<br />3,383,165
<br />3,258
<br />-
<br />1,798,366
<br />620,681
<br />-
<br />2,543,860
<br />-
<br />-
<br />196,105
<br />17,020
<br />-
<br />(235,674)
<br />-
<br />-
<br />177,243
<br />426,565
<br />-
<br />2,213,916
<br />2,213,916
<br />-
<br />-
<br />175,000
<br />234,900
<br />-
<br />205,427
<br />-
<br />1,843,977
<br />42,790,158
<br />257,100
<br />1,011,708
<br />13,895,693
<br />-
<br />27,372,648
<br />72,370,575
<br />-
<br />-
<br />6,557,771
<br />174,290
<br />-
<br />71,116,985
<br />-
<br />130,506,501
<br />130,506,501
<br />-
<br />24,114,139
<br />24,114,139
<br />-
<br />11,625,356
<br />25,923,825
<br />196,474,329
<br />387,275,647
<br />431,390
<br />(81,316,024)
<br />(166,282,202)
<br />(82,302)
<br />115,158,305
<br />220,993,445
<br />349,088
<br />155,013,760
<br />326,603,984
<br />2,244,791
<br />378,990
<br />4,977,570
<br />5,533
<br />5,848
<br />51,790
<br />-
<br />26,455
<br />139,711
<br />411,293
<br />5,169,071
<br />5,533
<br />3,900,539
<br />8,426,248
<br />20,258
<br />199,863
<br />497,430
<br />2,187
<br />242,564
<br />286,690
<br />-
<br />-
<br />-
<br />17,020
<br />-
<br />196,105
<br />-
<br />1,035,524
<br />1,035,524
<br />-
<br />107,373
<br />752,387
<br />-
<br />397,061
<br />887,701
<br />-
<br />446,005
<br />1,090,224
<br />-
<br />203,952
<br />203,952
<br />-
<br />1,625,000
<br />3,525,000
<br />-
<br />312,006
<br />1,052,411
<br />-
<br />3,816,162
<br />11,357,902
<br />55,520
<br />45,360
<br />1,008,745
<br />-
<br />415,740
<br />415,740
<br />-
<br />28,613,036
<br />78,904,149
<br />41,360,185
<br />109,640,208
<br />94,985
<br />808,322
<br />6,934,806
<br />11,759
<br />11,160
<br />98,842
<br />819,482
<br />7,033,648
<br />11,759
<br />84,327,032
<br />162,615,814
<br />349,088
<br />1,261,359
<br />2,984,319
<br />-
<br />-
<br />409,694
<br />47,334
<br />-
<br />1,321,585
<br />-
<br />34,368
<br />205,427
<br />-
<br />-
<br />-
<br />1,794,492
<br />27,656,995
<br />47,480,658
<br />$ 113,245,386
<br />$ 215,099,199 $
<br />2,143,580
<br />See accompanying Notes to Basic Financial Statements.
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