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Elk River Municipal Utilities
<br />Elk River, Minnesota
<br />Statement of Cash Flows
<br />For the Year Ended December 31, 2021
<br />ElectricWaterTotal
<br />Cash Flows from Operating Activities
<br />Receipts from customers and users$ 38,976,603 $ 3,063,848$ 4 2,040,451
<br />Other operating cash receipts 648,569 478,538 1,127,107
<br />Payments to suppliers (30,572,031) (1,075,716) (31,647,747)
<br />Payments to employees (2,886,434) (691,068) ( 3,577,502)
<br />Net Cash Provided
<br />by Operating Activities 6,166,707 1,775,602 7,942,309
<br />Cash Flows from
<br />Noncapital Financing Activities
<br />Transfers to City (1,407,734) - (1,407,734)
<br />(Increase) decrease in due from other City funds (161) 8,464 8,303
<br />(Decrease) increase in due to other City funds 189,898 105,456 295,354
<br />Net Cash Provided (Used) by Noncapital
<br />Financing Activities (1,217,997) 113,920 ( 1,104,077)
<br />Cash Flows from Capital
<br />and Related Financing Activities
<br />Acquisition of capital assets (9,626,428) (1,368,686) (10,995,114)
<br />Proceeds from connection fees - 548,948 548,948
<br />Capital grants 3,288 3,288
<br />Principal payments on bonds (1,145,000) (330,000) ( 1,475,000)
<br />Proceeds of bonds issued, net of issuance
<br />costs and premium on bonds 12,409,897 1,715,935 14,125,832
<br />Interest paid on bonds (619,035) (13,874) ( 632,909)
<br />Principal payments on promissory note (206,616) - (206,616)
<br />Net Cash Provided (Used) by Capital
<br />and Related Financing Activities 812,818 555,611 1,368,429
<br />Cash Flows from Investing Activities
<br />Interest on investments 46,364 23,140 69,504
<br />Net Increase
<br />in Cash and Cash Equivalents 5,807,892 2,468,273 8,276,165
<br />Cash and Cash Equivalents, January 1 17,652,079 8,338,623 25,990,702
<br />Cash and Cash Equivalents, December 31$ 23,459,971 $ 10,806,896 $ 3 4,266,867
<br />Reconciliation of Cash and Cash
<br />Equivalents to the Statement of Net Position
<br />Cash and temporary investments$ 21,680,955 $ 10,806,896 $ 3 2,487,851
<br />Restricted cash 1,779,016 - 1,779,016
<br />Total Cash and Cash Equivalents$ 23,459,971 $ 10,806,896 $ 3 4,266,867
<br />The notes to the financial statements are an integral part of this statement.
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