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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />WATER BALANCE SHEET
<br />Current Month
<br />Change from
<br />Prior MonthJuly 31, 2022 June 30, 2022
<br />ASSETS
<br />CURRENT ASSETS
<br /> CASH 9,337,228 8,718,724 618,504
<br /> ACCOUNTS RECEIVABLE 502,185 429,861 72,324
<br /> INVENTORIES 17,095 15,399 1,696
<br /> PREPAID ITEMS 37,310 39,730 (2,420)
<br /> CONSTRUCTION IN PROGRESS 924,302 918,187 6,116
<br /> TOTAL CURRENT ASSETS 10,818,120 10,121,900 696,220
<br />RESTRICTED ASSETS
<br /> EMERGENCY RESERVE FUND 1,343,029 1,342,790 239
<br /> TOTAL RESTRICTED ASSETS 1,343,029 1,342,790 239
<br />FIXED ASSETS
<br /> PRODUCTION 14,897,830 14,897,830 0
<br /> DISTRIBUTION 25,751,342 25,751,342 0
<br /> GENERAL 1,071,732 1,071,732 0
<br /> FIXED ASSETS (COST)41,720,904 41,720,904 0
<br /> LESS ACCUMULATED DEPRECIATION (21,635,576)(21,543,890)(91,685)
<br /> TOTAL FIXED ASSETS, NET 20,085,328 20,177,013 (91,685)
<br />INTANGIBLE ASSETS
<br />OTHER ASSETS AND DEFERRED OUTFLOWS 266,964 266,964 0
<br /> TOTAL ASSETS 32,513,442 31,908,668 604,774
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 530,277 522,550 7,727
<br /> SALARIES AND BENEFITS PAYABLE 137,352 132,716 4,635
<br /> DUE TO CITY 1,830 3,659 (1,829)
<br /> BONDS PAYABLE-CURRENT PORTION 50,000 50,000 0
<br /> UNEARNED REVENUE 185,573 209,507 (23,934)
<br /> TOTAL CURRENT LIABILITIES 905,032 918,433 (13,401)
<br />LONG TERM LIABILITIES
<br /> DUE TO CITY 22,680 22,680 0
<br /> BONDS PAYABLE, LESS CURRENT PORTION 1,691,368 1,691,922 (554)
<br /> PENSION LIABILITIES 369,988 369,988 0
<br /> TOTAL LONG TERM LIABILITIES 2,084,036 2,084,590 (554)
<br /> TOTAL LIABILITIES 2,989,068 3,003,023 (13,955)
<br />DEFERRED INFLOWS OF RESOURCES 339,354 339,354 0
<br />FUND EQUITY
<br /> RETAINED EARNINGS 28,234,009 28,234,009 0
<br /> NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)951,011 332,282 618,728
<br /> TOTAL FUND EQUITY 29,185,020 28,566,291 618,728
<br /> TOTAL LIABILITIES & FUND EQUITY 32,513,442 31,908,668 604,774
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