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Elk River Municipal Utilities <br />Elk River, Minnesota <br />Notes to the Financial Statements <br />December 31, 2024 <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, 2024 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 />$ 1,505,000 $ $ (60,000) <br />$ 1,445,000 <br />$ 65,000 <br />Revenue bonds <br />27,960,000 (955,000) <br />27,005,000 <br />990,000 <br />Unamortized premium <br />on bonds <br />1,372,207 (66,512) <br />1,305,695 <br />- <br />Total Bonds Payable, Net <br />30,837,207 - (1,081,512) <br />29,755,695 <br />1,055,000 <br />Compensated <br />Absences Payable <br />522,112 981,478 (536,226) <br />967,364 <br />967,364 <br />Business -type Activity <br />Long-term <br />Liabilities <br />$ 31,359,319 $ 981,478 $ (1,617,738) <br />$ 30,723,059 <br />$ 2,022,364 <br />41 <br />104 <br />