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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING DECEMBER 2022
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />11,994,192
<br />8,713,701
<br />ACCOUNTS RECEIVABLE
<br />3,719,870
<br />476,569
<br />INVENTORIES
<br />1,111,834
<br />28,388
<br />PREPAID ITEMS
<br />256,387
<br />53,748
<br />CONSTRUCTION IN PROGRESS
<br />824,514
<br />942,826
<br />TOTAL CURRENT ASSETS
<br />17,506,798
<br />10,215,231
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,901,679
<br />1,353,860
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,680,694
<br />1,353,860
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />16,510,965
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />46,705,080
<br />26,461,173
<br />GENERAL
<br />22,930,110
<br />1,122,302
<br />FIXED ASSETS (COST)
<br />72,764,279
<br />44,094,440
<br />LESS ACCUMULATED DEPRECIATION
<br />(32,108,672)
<br />(22,101,213)
<br />TOTAL FIXED ASSETS, NET
<br />40,655,607
<br />21,993,226
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />5,290,120
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(2,838,424)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,997,908
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,431,143
<br />266,964
<br />TOTAL ASSETS
<br />88,672,150
<br />33,829,282
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />5,868,153
<br />538,040
<br />SALARIES AND BENEFITS PAYABLE
<br />644,522
<br />150,472
<br />DUE TO CITY
<br />905,366
<br />24,643
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />915,000
<br />60,000
<br />UNEARNED REVENUE
<br />0
<br />141,184
<br />TOTAL CURRENT LIABILITIES
<br />8,333,042
<br />914,339
<br />LONG TERM LIABILITIES
<br />OPEB LIABILITY
<br />0
<br />0
<br />LEG PROJECT
<br />0
<br />0
<br />DUE TO COUNTY
<br />0
<br />0
<br />DUE TO CITY
<br />0
<br />0
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />29,275,124
<br />1,628,596
<br />PENSION LIABILITIES
<br />1,978,758
<br />369,988
<br />TOTAL LONG TERM LIABILITIES
<br />31,253,882
<br />1,998,584
<br />TOTAL LIABILITIES
<br />39,586,924
<br />2,912,924
<br />DEFERRED INFLOWS OF RESOURCES
<br />1,818,303
<br />339,354
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />0
<br />CONTRIBUTED CAPITAL
<br />0
<br />0
<br />RETAINED EARNINGS
<br />45,088,631
<br />28,234,009
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />399,277
<br />2,342,996
<br />TOTAL FUND EQUITY
<br />47,266,923
<br />30,577,005
<br />TOTAL LIABILITIES & FUND EQUITY
<br />88,672,150
<br />33,829,282
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