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City of Elk River
<br />Statement of Net Position
<br />December 31, 2021
<br />Primary Government
<br />Component Unit
<br />Housing and
<br />Governmental
<br />Business -Type
<br />Redevelopment
<br />Activities
<br />Activities
<br />Total
<br />Authority
<br />Assets
<br />Cash and investments
<br />$ 46,802,651
<br />$ 46,621,796
<br />$ 93,424,447
<br />$ 775,500
<br />Cash and investments held by trustee
<br />-
<br />7,081,831
<br />7,081,831
<br />-
<br />Restricted cash
<br />-
<br />1,779,016
<br />1,779,016
<br />-
<br />Taxes receivable
<br />986,427
<br />-
<br />986,427
<br />7,119
<br />Accounts receivable
<br />416,732
<br />3,853,142
<br />4,269,874
<br />1,269
<br />Interest receivable
<br />161,264
<br />86,938
<br />248,202
<br />-
<br />Notes receivable
<br />1,721,445
<br />-
<br />1,721,445
<br />474,338
<br />Special assessments receivable
<br />1,513,424
<br />590,304
<br />2,103,728
<br />-
<br />Due from other governments
<br />890,708
<br />-
<br />890,708
<br />-
<br />Due from primary government
<br />-
<br />-
<br />-
<br />179,331
<br />Due from component unit
<br />4,002
<br />-
<br />4,002
<br />-
<br />Internal balances
<br />497,503
<br />(497,503)
<br />-
<br />-
<br />Inventory
<br />-
<br />2,321,336
<br />2,321,336
<br />-
<br />Land held for resale
<br />175,000
<br />-
<br />175,000
<br />382,000
<br />Prepaid items
<br />160,451
<br />307,852
<br />468,303
<br />-
<br />Pension asset
<br />994,423
<br />-
<br />994,423
<br />-
<br />Capital assets not
<br />being depreciated
<br />Land
<br />38,802,663
<br />1,924,686
<br />40,727,349
<br />257,100
<br />Construction in progress
<br />16,442,587
<br />7,243,598
<br />23,686,185
<br />-
<br />Capital assets being depreciated
<br />Buildings and building improvements
<br />68,613,007
<br />27,762,844
<br />96,375,851
<br />-
<br />Improvements other
<br />than buildings
<br />10,808,095
<br />266,259
<br />11,074,354
<br />174,290
<br />Infrastructure
<br />74,076,919
<br />-
<br />74,076,919
<br />-
<br />Collection and distribution systems
<br />-
<br />140,337,044
<br />140,337,044
<br />-
<br />Intangible assets
<br />-
<br />25,895,865
<br />25,895,865
<br />Equipment and furniture
<br />16,371,053
<br />12,144,130
<br />28,515,183
<br />-
<br />Less accumulated depreciation
<br />(84,472,720)
<br />(93,309,638)
<br />(177,782,358)
<br />(105,542)
<br />Total assets
<br />194,965,634
<br />184,409,500
<br />379,375,134
<br />2,145,405
<br />Deferred Outflows of Resources
<br />Deferred outflows of resources
<br />related to OPEB 85,487 11,553 97,040 -
<br />Deferred outflows of resources
<br />related to pensions 7,586,984 2,242,888 9,829,872 20,255
<br />Total deferred outflows
<br />of resources 7,672,471 2,254,441 9,926,912 20,255
<br />Total assets and deferred
<br />outflows of resources $ 202,638,105 $ 186,663,941 $ 389,302,046 $ 2,165,660
<br />See notes to basic financial statements. 34
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