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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />September 30, 2022
<br />August 31, 2022
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />9,820,820
<br />10,986,137
<br />(1,165,317)
<br />ACCOUNTS RECEIVABLE
<br />5,337,650
<br />4,279,516
<br />1,058,134
<br />INVENTORIES
<br />1,237,863
<br />1,279,278
<br />(41,414)
<br />PREPAID ITEMS
<br />208,828
<br />178,914
<br />29,914
<br />CONSTRUCTION IN PROGRESS
<br />12,322,884
<br />11,829,499
<br />493,385
<br />TOTAL CURRENT ASSETS
<br />28,928,045
<br />28,553,343
<br />374,702
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,866,473
<br />2,861,042
<br />5,431
<br />TOTAL RESTRICTED ASSETS
<br />4,645,489
<br />4,640,057
<br />5,431
<br />FIXED ASSETS
<br />PRODUCTION
<br />788,761
<br />788,761
<br />0
<br />LEG PROJECT
<br />3,851,442
<br />3,851,442
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />45,784,048
<br />45,760,329
<br />23,719
<br />GENERAL
<br />11,953,834
<br />11,986,088
<br />(32,254)
<br />FIXED ASSETS (COST)
<br />64,683,109
<br />64,691,644
<br />(8,535)
<br />LESS ACCUMULATED DEPRECIATION
<br />(35,343,076)
<br />(35,190,269)
<br />(152,806)
<br />TOTAL FIXED ASSETS, NET
<br />29,340,034
<br />29,501,375
<br />(161,341)
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />4,349,653
<br />4,349,653
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(2,671,390)
<br />(2,615,712)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,224,475
<br />23,280,153
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,431,143
<br />1,431,143
<br />0
<br />TOTAL ASSETS
<br />87,569,185
<br />87,406,071
<br />163,114
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />5,267,999
<br />5,527,892
<br />(259,893)
<br />SALARIES AND BENEFITS PAYABLE
<br />548,359
<br />628,899
<br />(80,540)
<br />DUE TO CITY
<br />880,559
<br />764,943
<br />115,616
<br />NOTES PAYABLE -CURRENT PORTION
<br />52,281
<br />69,708
<br />(17,427)
<br />UNEARNED REVENUE
<br />2,597
<br />4,529
<br />(1,933)
<br />TOTAL CURRENT LIABILITIES
<br />6,751,795
<br />6,995,972
<br />(244,177)
<br />LONG TERM LIABILITIES
<br />DUE TO CITY
<br />90,720
<br />90,720
<br />0
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />30,205,090
<br />30,210,078
<br />(4,989)
<br />PENSION LIABILITIES
<br />1,978,758
<br />1,978,758
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />32,274,568
<br />32,279,556
<br />(4,989)
<br />TOTAL LIABILITIES
<br />39,026,363
<br />39,275,528
<br />(249,166)
<br />DEFERRED INFLOWS OF RESOURCES
<br />1,818,303
<br />1,818,303
<br />0
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />1,779,016
<br />0
<br />RETAINED EARNINGS
<br />45,088,631
<br />45,088,631
<br />0
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />(143,127)
<br />(555,407)
<br />412,280
<br />TOTAL FUND EQUITY
<br />46,724,519
<br />46,312,239
<br />412,285
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,569,185
<br />87,406,071
<br />163,114
<br />
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