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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> COMBINED BALANCE SHEET
<br /> FOR PERIOD ENDING OCTOBER 2021
<br /> ELECTRIC WATER
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> CASH 22,160,684 10,215,030
<br /> ACCOUNTS RECEIVABLE 2,213,871 357,631
<br /> INVENTORIES 906,126 20,599
<br /> PREPAID ITEMS 249,448 51,307
<br /> CONSTRUCTION IN PROGRESS 4,164,739 916,243
<br /> TOTAL CURRENT ASSETS 29,694,868 11,560,811
<br /> RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,779,016 0
<br /> EMERGENCY RESERVE FUND 2,836,153 1,337,479
<br /> UNRESTRICTED RESERVE FUND 0 0
<br /> TOTAL RESTRICTED ASSETS 4,615,169 1,337,479
<br /> FIXED ASSETS
<br /> PRODUCTION 788,761 14,838,371
<br /> LFG PROJECT 3,851,442 0
<br /> TRANSMISSION 2,305,024 0
<br /> DISTRIBUTION 43,984,627 23,632,641
<br /> GENERAL 11,505,515 1,070,546
<br /> FIXED ASSETS(COST) 62,435,368 39,541,558
<br /> LESS ACCUMULATED DEPRECIATION (33,360,161) (20,813,103)
<br /> TOTAL FIXED ASSETS,NET 29,075,206 18,728,455
<br /> INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 0
<br /> LOSS OF REVENUE INTANGIBLE 3,425,465 0
<br /> LESS ACCUMULATED AMORTIZATION (2,058,932) 0
<br /> TOTAL INTANGIBLE ASSETS,NET 22,912,745 0
<br /> OTHER ASSETS AND DEFERRED OUTFLOWS 277,001 43,701
<br /> TOTAL ASSETS 86,574,989 31,670,446
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 4,442,241 1,185,050
<br /> SALARIES AND BENEFITS PAYABLE 466,130 111,307
<br /> DUE TO CITY 862,909 2,360
<br /> DUE TO OTHER FUNDS 0 0
<br /> NOTES PAYABLE-CURRENT PORTION 34,436 0
<br /> BONDS PAYABLE-CURRENT PORTION 0 0
<br /> UNEARNED REVENUE 1,694 178,869
<br /> TOTAL CURRENT LIABILITIES 5,807.410 1,477,586
<br /> LONG TERM LIABILITIES
<br /> OPEB LIABILITY 0 0
<br /> LFG PROJECT 209,124 0
<br /> DUE TO COUNTY 0 0
<br /> DUE TO CITY 175,200 43,800
<br /> BONDS PAYABLE,LESS CURRENT PORTION 31,317,675 2,016,356
<br /> PENSION LIABILITIES 2,791,010 446,537
<br /> TOTAL LONG TERM LIABILITIES 34,493,009 2,506,693
<br /> TOTAL LIABILITIES 40,300,419 3,984,278
<br /> DEFERRED INFLOWS OF RESOURCES 140,160 21,807
<br /> FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 1,779,016 0
<br /> CONTRIBUTED CAPITAL 0 0
<br /> RETAINED EARNINGS 43,169,359 26,706,999
<br /> NET INCOME(LOSS)(THROUGH PREVIOUS MONTH) 1,186,036 957,362
<br /> TOTAL FUND EQUITY 46,134,410 27,664,361
<br /> TOTAL LIABILITIES&FUND EQUITY 86,574,989 31,670,446
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