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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF NET POSITION - PROPRIETARY FUNDS
<br />DECEMBER 31, 2020
<br />Municipal
<br />Liquor
<br />Sewer
<br />Garbage
<br />Storm Water
<br />Electric
<br />ASSETS AND DEFERRED OUTFLOWS
<br />OF RESOURCES
<br />CURRENT ASSETS
<br />Cash and Cash Equivalents
<br />$ 5,023,743
<br />$ 6,344,631
<br />$
<br />442,825
<br />$ 1,179,754
<br />$ 16,390,720
<br />Cash and Investments Held by Trustee
<br />-
<br />7,131,552
<br />-
<br />-
<br />1,261,359
<br />Receivables:
<br />Accounts Receivable (Net)
<br />-
<br />680,062
<br />3,656
<br />710
<br />1,827,760
<br />Accrued Interest
<br />20,561
<br />25,886
<br />1,811
<br />4,826
<br />12,918
<br />Due from Other Funds
<br />-
<br />363,209
<br />141,699
<br />47,542
<br />4,189
<br />Inventory
<br />1,244,443
<br />-
<br />-
<br />-
<br />843,909
<br />Prepaid Items
<br />-
<br />-
<br />-
<br />-
<br />212,378
<br />Total Current Assets
<br />6,288,747
<br />14,545,340
<br />589,991
<br />1,232,832
<br />20,553,233
<br />NONCURRENT ASSETS
<br />Capital Assets:
<br />Nondepreciable
<br />753,961
<br />411,095
<br />-
<br />-
<br />1,717,702
<br />Depreciable
<br />3,050,084
<br />53,312,802
<br />18,634,205
<br />85,157,194
<br />Total
<br />3,804,045
<br />53,723,897
<br />18,634,205
<br />86,874,896
<br />Less: Accumulated Depreciation
<br />(2,326,212)
<br />(22,493,652)
<br />(9,485,987)
<br />(33,150,788)
<br />Net Capital Assets
<br />1,477,833
<br />31,230,245
<br />9,148,218
<br />53,724,108
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Pension Related
<br />63,619
<br />42,959
<br />2,005
<br />5,730
<br />277,001
<br />OPEB Related
<br />5,142
<br />4,408
<br />-
<br />-
<br />-
<br />Deferred Charge on Debt Refunding
<br />-
<br />-
<br />-
<br />-
<br />14,481
<br />Total Deferred Outflows of Resources
<br />68,761
<br />47,367
<br />2,005
<br />5,730
<br />291,482
<br />Total Assets and Deferred
<br />Outflows of Resources
<br />$ 7,835,341
<br />$ 45,822,952
<br />$
<br />591,996
<br />$ 10,386,780
<br />$ 74,568,823
<br />LIABILITIES, DEFERRED INFLOWS OF
<br />RESOURCES, AND NET POSITION
<br />CURRENT LIABILITIES
<br />Accounts and Contracts Payable
<br />$ 367,922
<br />$ 121,682
<br />$
<br />130,029
<br />$ 120
<br />$ 3,286,922
<br />Accrued Salaries Payable
<br />32,318
<br />22,171
<br />945
<br />-
<br />169,428
<br />Due to Other Governments
<br />96,322
<br />-
<br />-
<br />-
<br />154,926
<br />Due to Other Funds
<br />-
<br />546
<br />2,725
<br />918
<br />869,165
<br />Unearned Revenue
<br />3,892
<br />-
<br />-
<br />-
<br />-
<br />Accrued Interest Payable
<br />-
<br />97,919
<br />268,284
<br />Customer Deposits Payable
<br />-
<br />-
<br />900,609
<br />Compensated Absences Payable
<br />37,108
<br />27,404
<br />386,987
<br />Notes Payable
<br />-
<br />-
<br />206,616
<br />Bonds Payable
<br />-
<br />440,000
<br />-
<br />-
<br />953,000
<br />Total Current Liabilities
<br />537,562
<br />709,722
<br />133,699
<br />1,038
<br />7,195,937
<br />NONCURRENT LIABILITIES
<br />Compensated Absences Payable
<br />31,623
<br />18,135
<br />-
<br />-
<br />-
<br />Other Postemployment Benefits
<br />51,790
<br />44,391
<br />-
<br />-
<br />208,274
<br />Net Pension Liability
<br />588,399
<br />397,315
<br />18,540
<br />52,997
<br />2,791,010
<br />Notes Payable
<br />-
<br />-
<br />-
<br />-
<br />209,124
<br />Bonds Payable
<br />-
<br />14,724,705
<br />-
<br />-
<br />19,075,944
<br />Total Noncurrent Liabilities
<br />671,812
<br />15,184,546
<br />18,540
<br />52,997
<br />22,284,352
<br />Total Liabilities
<br />1,209,374
<br />15,894,268
<br />152,239
<br />54,035
<br />29,480,289
<br />DEFERRED INFLOWS OF RESOURCES
<br />Pension Related
<br />32,331
<br />21,831
<br />1,019
<br />2,912
<br />140,160
<br />OPEB Related
<br />4,650
<br />3,986
<br />-
<br />-
<br />-
<br />36,981
<br />25,817
<br />1,019
<br />2,912
<br />140,160
<br />NET POSITION
<br />Net Investment in Capital Assets
<br />1,477,833
<br />23,300,245
<br />-
<br />9,148,218
<br />33,293,905
<br />Restricted for Debt Service
<br />-
<br />-
<br />-
<br />-
<br />1,261,359
<br />Unrestricted
<br />5,111,153
<br />6,602,622
<br />438,738
<br />1,181,615
<br />10,393,110
<br />Total Net Position
<br />6,588,986
<br />29,902,867
<br />438,738
<br />10,329,833
<br />44,948,374
<br />Total Liabilities, Deferred Inflows of
<br />Resources, and Net Position
<br />$ 7,835,341
<br />$ 45,822,952
<br />$
<br />591,996
<br />$ 10,386,780
<br />$ 74,568,823
<br />See accompanying Notes to Basic Financial Statements.
<br />(29)
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