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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />March 31, 2024 February 29, 2024 Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />9,669,216
<br />9,546,799
<br />122,417
<br />ACCOUNTS RECEIVABLE
<br />2,715,384
<br />2,917,927
<br />(202,543)
<br />INVENTORIES
<br />1,203,668
<br />1,228,587
<br />(24,919)
<br />PREPAID ITEMS
<br />251,673
<br />237,881
<br />13,793
<br />CONSTRUCTION IN PROGRESS
<br />1,086,598
<br />1,065,513
<br />21,085
<br />TOTAL CURRENT ASSETS
<br />14,926,539
<br />14,996,707
<br />(70,168)
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,968,730
<br />2,959,556
<br />9,175
<br />TOTAL RESTRICTED ASSETS
<br />4,747,746
<br />4,738,571
<br />9,175
<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 />49,427,765
<br />49,436,721
<br />(8,956)
<br />GENERAL
<br />24,501,072
<br />24,501,072
<br />0
<br />FIXED ASSETS (COST)
<br />77,057,927
<br />77,066,882
<br />(8,956)
<br />LESS ACCUMULATED DEPRECIATION
<br />(34,896,831)
<br />(34,678,141)
<br />(218,690)
<br />TOTAL FIXED ASSETS, NET
<br />42,161,095
<br />42,388,741
<br />(227,646)
<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 />6,223,278
<br />6,223,278
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(3,673,593)
<br />(3,617,915)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />24,095,898
<br />24,151,576
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />690,058
<br />0
<br />TOTAL ASSETS
<br />86,621,336
<br />86,965,653
<br />(344,317)
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />3,835,718
<br />4,144,074
<br />(308,356)
<br />SALARIES AND BENEFITS PAYABLE
<br />698,864
<br />816,940
<br />(118,076)
<br />DUE TO CITY
<br />835,632
<br />888,061
<br />(52,429)
<br />BONDS PAYABLE -CURRENT PORTION
<br />460,000
<br />460,000
<br />0
<br />UNEARNED REVENUE
<br />17,978
<br />19,975
<br />(1,998)
<br />TOTAL CURRENT LIABILITIES
<br />5,848,192
<br />6,329,050
<br />(480,859)
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />28,245,296
<br />28,250,285
<br />(4,989)
<br />PENSION LIABILITIES
<br />2,720,477
<br />2,720,477
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />30,965,773
<br />30,970,762
<br />(4,989)
<br />TOTAL LIABILITIES
<br />36,813,965
<br />37,299,812
<br />(485,847)
<br />DEFERRED INFLOWS OF RESOURCES
<br />836,813
<br />836,813
<br />0
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />1,779,016
<br />0
<br />RETAINED EARNINGS
<br />46,802,217
<br />46,802,217
<br />0
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />389,325
<br />247,795
<br />141,530
<br />TOTAL FUND EQUITY
<br />48,970,558
<br />48,829,028
<br />141,535
<br />TOTAL LIABILITIES & FUND EQUITY
<br />86,621,336
<br />86,965,653
<br />(344,317)
<br />153
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