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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING FEBRUARY 2023
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />9,916,641
<br />8,662,626
<br />ACCOUNTS RECEIVABLE
<br />4,488,337
<br />5,718,356
<br />INVENTORIES
<br />1,326,540
<br />29,929
<br />PREPAID ITEMS
<br />254,381
<br />56,229
<br />CONSTRUCTION IN PROGRESS
<br />938,169
<br />956,617
<br />TOTAL CURRENT ASSETS
<br />16,524,069
<br />15,423,756
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,905,678
<br />1,354,860
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,684,694
<br />1,354,860
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />16,510,965
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />46,763,545
<br />26,724,925
<br />GENERAL
<br />23,000,701
<br />1,125,849
<br />FIXED ASSETS (COST)
<br />72,893,336
<br />44,361,739
<br />LESS ACCUMULATED DEPRECIATION
<br />(32,556,302)
<br />(22,302,248)
<br />TOTAL FIXED ASSETS, NET
<br />40,337,034
<br />22,059,491
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />5,290,120
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(2,949,780)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,886,552
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,187,557
<br />226,587
<br />TOTAL ASSETS
<br />87,019,906
<br />39,064,695
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,169,822
<br />535,406
<br />SALARIES AND BENEFITS PAYABLE
<br />656,374
<br />153,042
<br />DUE TO CITY
<br />1,252,449
<br />30,421
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />435,000
<br />60,000
<br />UNEARNED REVENUE
<br />162,963
<br />174,926
<br />TOTAL CURRENT LIABILITIES
<br />6,676,609
<br />953,794
<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 />0
<br />0
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />29,265,147
<br />1,627,488
<br />PENSION LIABILITIES
<br />3,789,381
<br />725,038
<br />TOTAL LONG TERM LIABILITIES
<br />33,054,528
<br />2,352,526
<br />TOTAL LIABILITIES
<br />39,731,137
<br />3,306,320
<br />DEFERRED INFLOWS OF RESOURCES
<br />54,129
<br />5,121,831
<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 />45,204,945
<br />30,887,406
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />250,679
<br />(250,863)
<br />TOTAL FUND EQUITY
<br />47,234,640
<br />30,636,543
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,019,906
<br />39,064,695
<br />
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