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Elk River Municipal Utilities <br />Elk River, Minnesota <br />Notes to the Financial Statements <br />December 31, 2023 <br />Note 2: Detailed Notes on All Funds (Continued) <br />Changes in Long-term Liabilities <br />Long-term liability activity for the year ended December 31, 2023 was as follows: <br />Beginning <br />Ending <br />Due Within <br />Balance Increases Decreases <br />Balance <br />One Year <br />Business -type Activities <br />Bonds Payable <br />General obligation <br />revenue bonds <br />$ 1,565,000 $ - $ (60,000) <br />$ 1,505,000 <br />$ 60,000 <br />Revenue bonds <br />28,875,000 - (915,000) <br />27,960,000 <br />955,000 <br />Unamortized premium <br />on bonds <br />1,438,720 - (66,513) <br />1,372,207 <br />- <br />Total Bonds Payable, Net <br />31,878,720 - (1,041,513) <br />30,837,207 <br />1,015,000 <br />Compensated <br />Absences Payable <br />476,800 489,097 (443,785) <br />522,112 <br />522,112 <br />Business -type Activity <br />Long-term <br />Liabilities <br />$ 32,355,520 $ 489,097 $ (1,485,298) <br />$ 31,359,319 <br />$ 1,537,112 <br />41 <br />106 <br />