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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING FEBRUARY 2024
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />9,546,799
<br />9,319,821
<br />ACCOUNTS RECEIVABLE
<br />2,917,927
<br />5,326,401
<br />INVENTORIES
<br />1,228,597
<br />15,041
<br />PREPAID ITEMS
<br />237,881
<br />56,003
<br />CONSTRUCTION IN PROGRESS
<br />1,065,513
<br />2,196,872
<br />TOTAL CURRENT ASSETS
<br />14,996,707
<br />16,914,139
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,959,556
<br />1,368,330
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,738,571
<br />1,368,330
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />16,825,898
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />49,436,721
<br />28,135,913
<br />GENERAL
<br />24,501,072
<br />1,224,612
<br />FIXED ASSETS (COST)
<br />77,066,982
<br />46,186,423
<br />LESS ACCUMULATED DEPRECIATION
<br />(34,678,141)
<br />(23,469,984)
<br />TOTAL FIXED ASSETS, NET
<br />42,398,741
<br />22,716,439
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />6,223,278
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(3,617,915)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />24,151,576
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />126,311
<br />TOTAL ASSETS
<br />86,965,653
<br />41,125,219
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,144,074
<br />747,657
<br />SALARIES AND BENEFITS PAYABLE
<br />816,940
<br />126,802
<br />DUE TO CITY
<br />889,061
<br />31,805
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />460,000
<br />60,000
<br />UNEARNED REVENUE
<br />19,975
<br />181,455
<br />TOTAL CURRENT LIABILITIES
<br />6,329,050
<br />1,147,718
<br />LONG TERM LIABILITIES
<br />OPEB LIABILITY
<br />0
<br />0
<br />LFG 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 />28,250,285
<br />1,560,837
<br />PENSION LIABILITIES
<br />2,720,477
<br />500,450
<br />TOTAL LONG TERM LIABILITIES
<br />30,970,762
<br />2,061,287
<br />TOTAL LIABILITIES
<br />37,299,812
<br />3,209,005
<br />DEFERRED INFLOWS OF RESOURCES
<br />836,813
<br />4,937,984
<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 />46,802,217
<br />33,120,013
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />247,795
<br />(141,784)
<br />TOTAL FUND EQUITY
<br />48,929,028
<br />32,978,229
<br />TOTAL LIABILITIES & FUND EQUITY
<br />86,965,653
<br />41,125,219
<br />50
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