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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />February 28, 2023
<br />January 31, 2023
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />9,916,641
<br />12,246,486
<br />(2,329,845)
<br />ACCOUNTS RECEIVABLE
<br />4,488,337
<br />3,013,854
<br />1,474,483
<br />INVENTORIES
<br />1,326,540
<br />1,296,333
<br />30,207
<br />PREPAID ITEMS
<br />254,381
<br />285,854
<br />(31,473)
<br />CONSTRUCTION IN PROGRESS
<br />938,169
<br />912,849
<br />25,321
<br />TOTAL CURRENT ASSETS
<br />16,924,069
<br />17,755,375
<br />(831,306)
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,905,678
<br />2,902,770
<br />2,908
<br />TOTAL RESTRICTED ASSETS
<br />4,684,694
<br />4,681,786
<br />2,908
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />824,065
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />46,763,545
<br />46,756,375
<br />7,170
<br />GENERAL
<br />23,000,701
<br />22,995,206
<br />5,496
<br />FIXED ASSETS (COST)
<br />72,893,336
<br />72,880,670
<br />12,666
<br />LESS ACCUMULATED DEPRECIATION
<br />(32,556,302)
<br />(32,348,106)
<br />(208,196)
<br />TOTAL FIXED ASSETS, NET
<br />40,337,034
<br />40,532,564
<br />(195,530)
<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 />5,290,120
<br />5,290,120
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(2,949,780)
<br />(2,894,102)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,886,552
<br />23,942,230
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,187,557
<br />1,187,557
<br />0
<br />TOTAL ASSETS
<br />87,019,906
<br />88,099,512
<br />(1,079,606)
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,169,822
<br />5,809,581
<br />(1,639,759)
<br />SALARIES AND BENEFITS PAYABLE
<br />656,374
<br />655,512
<br />861
<br />DUE TO CITY
<br />1,252,449
<br />858,676
<br />393,773
<br />BONDS PAYABLE -CURRENT PORTION
<br />435,000
<br />915,000
<br />(480,000)
<br />UNEARNED REVENUE
<br />162,963
<br />21,972
<br />140,991
<br />TOTAL CURRENT LIABILITIES
<br />6,676,609
<br />8,260,742
<br />(1,584,133)
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />29,265,147
<br />29,270,136
<br />(4,989)
<br />PENSION LIABILITIES
<br />3,789,381
<br />3,789,381
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />33,054,528
<br />33,059,517
<br />(4,989)
<br />TOTAL LIABILITIES
<br />39,731,137
<br />41,320,259
<br />(1,589,122)
<br />DEFERRED INFLOWS OF RESOURCES
<br />54,129
<br />54,129
<br />0
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />1,779,016
<br />0
<br />RETAINED EARNINGS
<br />45,204,945
<br />45,204,945
<br />0
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />250,679
<br />(258,836)
<br />509,515
<br />TOTAL FUND EQUITY
<br />47,234,640
<br />46,725,125
<br />509,515
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,019,906
<br />88,099,512
<br />(1,079,606)
<br />161
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