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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF NET ASSETS -CONTINUED
<br />DECEMBER 31, 2008 AND 2007
<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 />Compensated absences -current portion
<br />Notes payable -current portion
<br />Bonds payable -current portion
<br />TOTAL CURRENT LIABILITIES
<br />NON-CURRENT LIABILITIES
<br />Net other postemployment benefits liability
<br />Compensated absences, less current portion
<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 />2008
<br />Electric
<br />Water
<br />Total
<br />$ 1,572,455 $ 39,387 $ 1,611,842
<br />39,723 4,758 44,481
<br />131,489 119,956 251,445
<br />323,415 17,978 341,393
<br />97,749 - 97,749
<br />139,970 7,500 147,470
<br />99,464 33,154 132,618
<br />177,348 - 177,348
<br />328,750. 426,250 755,000
<br />2,910,363 648,983 3,559,346
<br />
<br />10,213 - 10,213
<br />99,359 34,948 134,307
<br />2,524,646 - 2,524,646
<br />7,525,000 7,180,000 14,705,000
<br />10,159,218 7,214,948 17,374,166
<br />13,069,581 7,863,931 20,933,512
<br />
<br />19,388,328 16,039,577 35,427,905
<br />724,500 - 724,500
<br />4,839,708 4,737,017 9,576,725
<br />TOTAL NET ASSETS
<br />$ 24,952,536 $ 20,776,594 $ 45,729,130
<br />The notes to the financial statements are an integral part of this statement.
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