4.1 ERMUSR 04-12-2022 - Laserfiche WebLink

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Elk River Municipal Utilities Elk River, Minnesota Notes to the Financial Statements December 31, 2021 Note 2: Detailed Notes on All Funds (Continued) D.Interfund Receivables, Payables and Transfers Interfunds The composition of interfund balances at year end is as follows: Receivable FundPayable Fund AmountPurpose ElectricCity$ 4,350December billings WaterCity 128,850TIF 22 Water Access Charge Total Receivable From City$ 133,200 CityElectric$ 99,871Shared costs CityElectric 4,071Supplies and Fuel CityElectric 800Bond disclosure services CityElectric 114,684December transfer of revenue CityElectric 268,9934th quarter franchise fees CityElectric 193,582Billed sewer on behalf of City CityElectric 148,828Billed garbage on behalf of City CityElectric 49,384Billed stormwater on behalf of City CityElectric 84,480Current portion of 2020B due to City CityElectric 90,720Noncurrent portion of 2020B due to City CityElectric 3,650Interest accrued of 2020B due to City Total Electric Fund Payable to City 1,059,063 CityWater 24,968Shared costs CityWater 3,982Supplies and Fuel CityWater 722Bond disclosure services CityWater 61,062 Water main future wellhouse CityWater 21,120Current portion of 2020B due to City CityWater 22,680Noncurrent portion of 2020B due to City CityWater 913Interest accrued of 2020B due to City Total Water Fund Payable to City 135,447 Total Payable to City$ 1,194,510 Transfers During the year ended December 31, 2021 the Utilities made the following transfers: The transfer out of the Electric fund was the annual transfer of 4 percent of 2021 Elk River revenues to City funds. The Electric fund transferred $1,407,734 in 2021. The City transferred $195,245 to the Water fund as contributed capital for the Water Main as part of the 2021 Street Improvements. 41 113