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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF NET ASSETS -CONTINUED
<br />DECEMBER 31, 2007 AND 2006
<br />CURRENT LIABILITIES
<br />Accounts payable
<br />Salaries and benefits payable
<br />Accrued interest payable
<br />Due to other city funds
<br />Due to other governments
<br />Customer deposits payable
<br />Notes payable -current portion
<br />Bonds payable -current portion
<br />TOTAL CURRENT LIABILITIES
<br />NON-CURRENT LIABILITIES
<br />Notes payable, less current portion
<br />Bonds payable, less current portion
<br />TOTAL NON-CURRENT LIABILITIES
<br />TOTAL LIABILITIES
<br />NET ASSETS
<br />Invested in capital assets net of related debt
<br />Restricted for debt service
<br />Unrestricted
<br />TOTAL NET ASSETS
<br />2007
<br />Electric Water Total
<br />$ 1,231,777 $ 107,853 $ 1,339,630
<br />239,372 75,412 314,784
<br />133,249 91,408 224,657
<br />296,315 - 296,315
<br />75,795 - 75,795
<br />53,007 5,000 58,007
<br />177,060 - 177,060
<br />320,000 790,000 1,110,000
<br />
<br />2,526,575 1,069,673 3,596,248
<br />
<br />2,701,994 - 2,701,994
<br />7,853,750 4,521,250 12,375,000
<br />
<br />10,555,744 4,521,250 15,076,994
<br />13,082,319 5,590,923 18,673,242
<br />
<br />18,906,353 18,219,883 37,126,236
<br />733,400 - 733,400
<br />4,375,821 2,610,533 6,986,354
<br />$ 24,015,574 $ 20,830,416 $ 44,845,990
<br />The notes to the fmancial statements are an integral part of this statement.
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