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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />Prior MonthJune 30, 2022 May 31, 2022
<br />ASSETS
<br />CURRENT ASSETS
<br /> CASH 13,135,978 13,522,365 (386,388)
<br /> ACCOUNTS RECEIVABLE 4,153,502 3,531,245 622,257
<br /> INVENTORIES 1,101,006 1,151,411 (50,405)
<br /> PREPAID ITEMS 237,690 228,839 8,850
<br /> CONSTRUCTION IN PROGRESS 10,753,471 9,955,265 798,206
<br /> TOTAL CURRENT ASSETS 29,381,645 28,389,126 992,520
<br />RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,779,016 1,779,016 0
<br /> EMERGENCY RESERVE FUND 2,857,398 2,852,369 5,029
<br /> TOTAL RESTRICTED ASSETS 4,636,414 4,631,385 5,029
<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 45,388,333 45,362,913 25,420
<br /> GENERAL 11,808,072 11,808,072 0
<br /> FIXED ASSETS (COST)64,141,631 64,116,211 25,420
<br /> LESS ACCUMULATED DEPRECIATION (34,800,051)(34,606,925)(193,126)
<br /> TOTAL FIXED ASSETS, NET 29,341,581 29,509,286 (167,705)
<br />INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 21,546,212 0
<br /> LOSS OF REVENUE INTANGIBLE 4,349,653 4,349,653 0
<br /> LESS ACCUMULATED AMORTIZATION (2,504,356)(2,448,678)(55,678)
<br /> TOTAL INTANGIBLE ASSETS, NET 23,391,509 23,447,186 (55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS 1,431,143 1,431,143 0
<br /> TOTAL ASSETS 88,182,291 87,408,126 774,165
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 5,953,016 5,055,612 897,405
<br /> SALARIES AND BENEFITS PAYABLE 548,855 506,350 42,505
<br /> DUE TO CITY 831,436 714,293 117,143
<br /> NOTES PAYABLE-CURRENT PORTION 104,562 121,989 (17,427)
<br /> BONDS PAYABLE-CURRENT PORTION 345,000 345,000 0
<br /> UNEARNED REVENUE 6,261 7,126 (866)
<br /> TOTAL CURRENT LIABILITIES 7,789,130 6,750,370 1,038,760
<br />LONG TERM LIABILITIES
<br /> DUE TO CITY 90,720 90,720 0
<br /> BONDS PAYABLE, LESS CURRENT PORTION 30,220,055 30,225,044 (4,989)
<br /> PENSION LIABILITIES 1,978,758 1,978,758 0
<br /> TOTAL LONG TERM LIABILITIES 32,289,533 32,294,522 (4,989)
<br /> TOTAL LIABILITIES 40,078,663 39,044,892 1,033,772
<br />DEFERRED INFLOWS OF RESOURCES 1,818,303 1,818,303 0
<br />FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 1,779,016 1,779,016 0
<br /> RETAINED EARNINGS 45,088,631 45,088,631 0
<br /> NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(582,322)(322,715)(259,606)
<br /> TOTAL FUND EQUITY 46,285,325 46,544,932 (259,606)
<br /> TOTAL LIABILITIES & FUND EQUITY 88,182,291 87,408,126 774,165
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