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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />Prior MonthMay 31, 2021 April 30, 2021
<br />ASSETS
<br />CURRENT ASSETS
<br /> CASH 23,797,635 11,820,054 11,977,581
<br /> ACCOUNTS RECEIVABLE 1,921,080 2,138,959 (217,879)
<br /> INVENTORIES 1,138,920 953,891 185,029
<br /> PREPAID ITEMS 212,071 244,107 (32,036)
<br /> CONSTRUCTION IN PROGRESS 2,038,597 1,642,130 396,467
<br /> TOTAL CURRENT ASSETS 29,108,303 16,799,141 12,309,161
<br />RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,779,016 1,261,359 517,657
<br /> EMERGENCY RESERVE FUND 2,822,697 2,820,246 2,451
<br /> TOTAL RESTRICTED ASSETS 4,601,712 4,081,605 520,108
<br />FIXED ASSETS
<br /> PRODUCTION 788,761 788,761 0
<br /> LFG PROJECT 3,851,442 3,851,442 0
<br /> TRANSMISSION 2,305,024 2,305,024 0
<br /> DISTRIBUTION 42,695,774 42,539,044 156,730
<br /> GENERAL 11,387,954 11,378,462 9,492
<br /> FIXED ASSETS (COST)61,028,955 60,862,733 166,222
<br /> LESS ACCUMULATED DEPRECIATION (32,414,156)(32,223,028)(191,128)
<br /> TOTAL FIXED ASSETS, NET 28,614,799 28,639,705 (24,906)
<br />INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 21,546,212 0
<br /> LOSS OF REVENUE INTANGIBLE 3,425,465 3,425,465 0
<br /> LESS ACCUMULATED AMORTIZATION (1,780,543)(1,724,865)(55,678)
<br /> TOTAL INTANGIBLE ASSETS, NET 23,191,135 23,246,813 (55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS 288,697 289,254 (557)
<br /> TOTAL ASSETS 85,804,645 73,056,518 12,748,128
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,259,521 3,516,415 743,106
<br /> SALARIES AND BENEFITS PAYABLE 440,144 414,687 25,456
<br /> DUE TO CITY 674,106 865,555 (191,449)
<br /> NOTES PAYABLE-CURRENT PORTION 120,526 137,744 (17,218)
<br /> BONDS PAYABLE-CURRENT PORTION 185,000 185,000 0
<br /> UNEARNED REVENUE 5,930 6,777 (847)
<br /> TOTAL CURRENT LIABILITIES 5,685,227 5,126,179 559,048
<br />LONG TERM LIABILITIES
<br /> OPEB LIABILITY 208,274 208,274 0
<br /> LFG PROJECT 209,124 209,124 0
<br /> BONDS PAYABLE, LESS CURRENT PORTION 31,544,940 19,184,988 12,359,953
<br /> PENSION LIABILITIES 2,791,010 2,791,010 0
<br /> TOTAL LONG TERM LIABILITIES 34,753,348 22,393,395 12,359,953
<br /> TOTAL LIABILITIES 40,438,574 27,519,574 12,919,000
<br />DEFERRED INFLOWS OF RESOURCES 140,160 140,160 0
<br />FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 1,779,016 1,261,359 517,657
<br /> RETAINED EARNINGS 43,169,359 43,687,015 (517,657)
<br /> NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)277,537 448,409 (170,873)
<br /> TOTAL FUND EQUITY 45,225,911 45,396,784 (170,873)
<br /> TOTAL LIABILITIES & FUND EQUITY 85,804,645 73,056,518 12,748,128
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