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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING SEPTEMBER 2022
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />9,820,820
<br />9,872,698
<br />ACCOUNTS RECEIVABLE
<br />5,337,650
<br />506,976
<br />INVENTORIES
<br />1,237,863
<br />24,889
<br />PREPAID ITEMS
<br />208,828
<br />37,992
<br />CONSTRUCTION IN PROGRESS
<br />12,322,884
<br />961,070
<br />TOTAL CURRENT ASSETS
<br />28,928,045
<br />11,403,625
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,866,473
<br />1,345,059
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,645,489
<br />1,345,059
<br />FIXED ASSETS
<br />PRODUCTION
<br />788,761
<br />14,931,054
<br />LEG PROJECT
<br />3,851,442
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />45,784,048
<br />25,751,342
<br />GENERAL
<br />11,953,834
<br />1,081,462
<br />FIXED ASSETS (COST)
<br />64,683,109
<br />41,763,858
<br />LESS ACCUMULATED DEPRECIATION
<br />(35,343,076)
<br />(21,819,309)
<br />TOTAL FIXED ASSETS, NET
<br />29,340,034
<br />19,944,549
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />4,349,653
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(2,671,390)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,224,475
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,431,143
<br />266,964
<br />TOTAL ASSETS
<br />87,569,185
<br />32,960,197
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />5,267,999
<br />557,514
<br />SALARIES AND BENEFITS PAYABLE
<br />548,359
<br />129,885
<br />DUE TO CITY
<br />880,559
<br />4,911
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />52,281
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />UNEARNED REVENUE
<br />2,597
<br />178,499
<br />TOTAL CURRENT LIABILITIES
<br />6,751,795
<br />870,808
<br />LONG TERM LIABILITIES
<br />OPEB LIABILITY
<br />0
<br />0
<br />LEG PROJECT
<br />0
<br />0
<br />DUE TO COUNTY
<br />0
<br />0
<br />DUE TO CITY
<br />90,720
<br />22,680
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />30,205,090
<br />1,690,259
<br />PENSION LIABILITIES
<br />1,978,758
<br />369,988
<br />TOTAL LONG TERM LIABILITIES
<br />32,274,568
<br />2,082,927
<br />TOTAL LIABILITIES
<br />39,026,363
<br />2,953,735
<br />DEFERRED INFLOWS OF RESOURCES
<br />1,818,303
<br />339,354
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />0
<br />CONTRIBUTED CAPITAL
<br />0
<br />0
<br />RETAINED EARNINGS
<br />45,088,631
<br />28,234,009
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />(143,127)
<br />1,433,098
<br />TOTAL FUND EQUITY
<br />46,724,519
<br />29,667,107
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,569,185
<br />32,960,197
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