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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />Prior MonthJune 30, 2023 May 31, 2023
<br />ASSETS
<br />CURRENT ASSETS
<br /> CASH 11,674,061 11,116,466 557,595
<br /> ACCOUNTS RECEIVABLE 3,110,672 2,580,057 530,615
<br /> INVENTORIES 1,363,568 1,468,128 (104,559)
<br /> PREPAID ITEMS 212,345 199,697 12,647
<br /> CONSTRUCTION IN PROGRESS 1,720,828 1,479,490 241,338
<br /> TOTAL CURRENT ASSETS 18,081,475 16,843,838 1,237,636
<br />RESTRICTED ASSETS
<br /> BOND RESERVE FUND 1,779,016 1,779,016 0
<br /> EMERGENCY RESERVE FUND 2,925,488 2,920,176 5,312
<br /> TOTAL RESTRICTED ASSETS 4,704,504 4,699,192 5,312
<br />FIXED ASSETS
<br /> PRODUCTION 824,065 824,065 0
<br /> TRANSMISSION 2,305,024 2,305,024 0
<br /> DISTRIBUTION 47,142,388 47,039,651 102,737
<br /> GENERAL 22,980,770 22,980,551 219
<br /> FIXED ASSETS (COST)73,252,246 73,149,291 102,956
<br /> LESS ACCUMULATED DEPRECIATION (33,304,114)(33,098,570)(205,545)
<br /> TOTAL FIXED ASSETS, NET 39,948,132 40,050,721 (102,589)
<br />INTANGIBLE ASSETS
<br /> POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 21,546,212 0
<br /> LOSS OF REVENUE INTANGIBLE 5,290,120 5,290,120 0
<br /> LESS ACCUMULATED AMORTIZATION (3,172,491)(3,116,813)(55,678)
<br /> TOTAL INTANGIBLE ASSETS, NET 23,663,840 23,719,518 (55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS 1,187,557 1,187,557 0
<br /> TOTAL ASSETS 87,585,508 86,500,827 1,084,682
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br /> ACCOUNTS PAYABLE 5,532,877 4,692,554 840,323
<br /> SALARIES AND BENEFITS PAYABLE 604,342 552,854 51,487
<br /> DUE TO CITY 870,981 744,941 126,040
<br /> BONDS PAYABLE-CURRENT PORTION 435,000 435,000 0
<br /> UNEARNED REVENUE 154,973 156,971 (1,998)
<br /> TOTAL CURRENT LIABILITIES 7,598,173 6,582,320 1,015,853
<br />LONG TERM LIABILITIES
<br /> BONDS PAYABLE, LESS CURRENT PORTION 29,245,193 29,250,182 (4,989)
<br /> PENSION LIABILITIES 3,789,381 3,789,381 0
<br /> TOTAL LONG TERM LIABILITIES 33,034,574 33,039,563 (4,989)
<br /> TOTAL LIABILITIES 40,632,747 39,621,883 1,010,865
<br />DEFERRED INFLOWS OF RESOURCES 54,129 54,129 0
<br />FUND EQUITY
<br /> CAPITAL ACCOUNT CONST COST 1,779,016 1,779,016 0
<br /> RETAINED EARNINGS 45,204,945 45,204,945 0
<br /> NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(85,329)(159,146)73,817
<br /> TOTAL FUND EQUITY 46,898,632 46,824,815 73,817
<br /> TOTAL LIABILITIES & FUND EQUITY 87,585,508 86,500,827 1,084,682
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