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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />Prior MonthJuly 31, 2022 June 30, 2022
<br />ASSETS
<br />CURRENT ASSETS
<br /> CASH 12,305,240 13,135,978 (830,738)
<br /> ACCOUNTS RECEIVABLE 4,552,720 4,153,502 399,218
<br /> INVENTORIES 1,234,045 1,101,006 133,039
<br /> PREPAID ITEMS 215,787 237,690 (21,903)
<br /> CONSTRUCTION IN PROGRESS 11,470,058 10,753,471 716,587
<br /> TOTAL CURRENT ASSETS 29,777,849 29,381,645 396,203
<br />RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,779,016 1,779,016 0
<br /> EMERGENCY RESERVE FUND 2,858,354 2,857,398 956
<br /> TOTAL RESTRICTED ASSETS 4,637,370 4,636,414 956
<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 45,622,954 45,388,333 234,621
<br /> GENERAL 11,949,063 11,808,072 140,991
<br /> FIXED ASSETS (COST)64,517,243 64,141,631 375,611
<br /> LESS ACCUMULATED DEPRECIATION (34,994,867)(34,800,051)(194,817)
<br /> TOTAL FIXED ASSETS, NET 29,522,376 29,341,581 180,795
<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 (2,560,034)(2,504,356)(55,678)
<br /> TOTAL INTANGIBLE ASSETS, NET 23,335,831 23,391,509 (55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS 1,431,143 1,431,143 0
<br /> TOTAL ASSETS 88,704,568 88,182,291 522,277
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 6,462,212 5,953,016 509,195
<br /> SALARIES AND BENEFITS PAYABLE 571,995 548,855 23,139
<br /> DUE TO CITY 912,126 831,436 80,690
<br /> NOTES PAYABLE-CURRENT PORTION 87,135 104,562 (17,427)
<br /> BONDS PAYABLE-CURRENT PORTION 345,000 345,000 0
<br /> UNEARNED REVENUE 5,395 6,261 (866)
<br /> TOTAL CURRENT LIABILITIES 8,383,862 7,789,130 594,732
<br />LONG TERM LIABILITIES
<br /> DUE TO CITY 90,720 90,720 0
<br /> BONDS PAYABLE, LESS CURRENT PORTION 30,215,067 30,220,055 (4,989)
<br /> PENSION LIABILITIES 1,978,758 1,978,758 0
<br /> TOTAL LONG TERM LIABILITIES 32,284,545 32,289,533 (4,989)
<br /> TOTAL LIABILITIES 40,668,407 40,078,663 589,743
<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)(649,788)(582,322)(67,467)
<br /> TOTAL FUND EQUITY 46,217,858 46,285,325 (67,467)
<br /> TOTAL LIABILITIES & FUND EQUITY 88,704,568 88,182,291 522,277
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