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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING OCTOBER 2022
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />10,677,649
<br />10,193,814
<br />ACCOUNTS RECEIVABLE
<br />3,802,239
<br />376,660
<br />INVENTORIES
<br />1,210,235
<br />24,598
<br />PREPAID ITEMS
<br />249,079
<br />52,284
<br />CONSTRUCTION IN PROGRESS
<br />12,304,449
<br />966,397
<br />TOTAL CURRENT ASSETS
<br />28,243,650
<br />11,613,753
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,871,258
<br />1,346,255
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,650,274
<br />1,346,255
<br />FIXED ASSETS
<br />PRODUCTION
<br />788,807
<br />14,962,754
<br />LEG PROJECT
<br />3,851,442
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />45,972,447
<br />25,751,342
<br />GENERAL
<br />12,004,715
<br />1,081,462
<br />FIXED ASSETS (COST)
<br />64,922,435
<br />41,795,558
<br />LESS ACCUMULATED DEPRECIATION
<br />(35,573,555)
<br />(21,911,266)
<br />TOTAL FIXED ASSETS, NET
<br />29,348,880
<br />19,884,292
<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 />(2,727,068)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,168,797
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,431,143
<br />266,964
<br />TOTAL ASSETS
<br />86,842,744
<br />33,111,265
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,155,121
<br />582,997
<br />SALARIES AND BENEFITS PAYABLE
<br />571,706
<br />134,059
<br />DUE TO CITY
<br />910,410
<br />2,930
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />UNEARNED REVENUE
<br />1,731
<br />185,463
<br />TOTAL CURRENT LIABILITIES
<br />5,638,968
<br />905,448
<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 />30,200,101
<br />1,689,705
<br />PENSION LIABILITIES
<br />1,978,758
<br />369,988
<br />TOTAL LONG TERM LIABILITIES
<br />32,269,579
<br />2,082,373
<br />TOTAL LIABILITIES
<br />37,908,547
<br />2,987,821
<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 />248,247
<br />1,550,080
<br />TOTAL FUND EQUITY
<br />47,115,894
<br />29,784,090
<br />TOTAL LIABILITIES & FUND EQUITY
<br />86,842,744
<br />33,111,265
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