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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING NOVEMBER 2022
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />10,517,616
<br />10,287,364
<br />ACCOUNTS RECEIVABLE
<br />3,840,884
<br />514,788
<br />INVENTORIES
<br />1,159,723
<br />29,463
<br />PREPAID ITEMS
<br />242,478
<br />51,580
<br />CONSTRUCTION IN PROGRESS
<br />13,155,126
<br />966,592
<br />TOTAL CURRENT ASSETS
<br />28,915,826
<br />11,849,788
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,872,333
<br />1,346,524
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,651,349
<br />1,346,524
<br />FIXED ASSETS
<br />PRODUCTION
<br />788,807
<br />14,962,754
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />46,066,818
<br />25,751,342
<br />GENERAL
<br />12,018,578
<br />1,081,462
<br />FIXED ASSETS (COST)
<br />61,179,227
<br />41,795,558
<br />LESS ACCUMULATED DEPRECIATION
<br />(31,899,423)
<br />(22,003,222)
<br />TOTAL FIXED ASSETS, NET
<br />29,279,804
<br />19,792,335
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />4,349,653
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(2,782,746)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,113,119
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,431,143
<br />266,964
<br />TOTAL ASSETS
<br />87,391,240
<br />33,255,611
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,804,380
<br />561,107
<br />SALARIES AND BENEFITS PAYABLE
<br />615,837
<br />143,795
<br />DUE TO CITY
<br />722,554
<br />2,198
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />UNEARNED REVENUE
<br />866
<br />161,214
<br />TOTAL CURRENT LIABILITIES
<br />6,143,636
<br />868,315
<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 />90,720
<br />22,680
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />30,195,113
<br />1,689,151
<br />PENSION LIABILITIES
<br />1,978,758
<br />369,988
<br />TOTAL LONG TERM LIABILITIES
<br />32,264,591
<br />2,081,819
<br />TOTAL LIABILITIES
<br />38,408,227
<br />2,950,133
<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 />297,064
<br />1,732,115
<br />TOTAL FUND EQUITY
<br />47,164,710
<br />29,966,124
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,391,240
<br />33,255,611
<br />67
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