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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />March 31, 2023
<br />February 28, 2023
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />10,924,929
<br />9,916,641
<br />1,008,288
<br />ACCOUNTS RECEIVABLE
<br />2,799,299
<br />4,488,337
<br />(1,689,038)
<br />INVENTORIES
<br />1,398,553
<br />1,326,540
<br />72,012
<br />PREPAID ITEMS
<br />336,724
<br />254,381
<br />82,343
<br />CONSTRUCTION IN PROGRESS
<br />1,119,184
<br />938,169
<br />181,015
<br />TOTAL CURRENT ASSETS
<br />16,578,689
<br />16,924,069
<br />(345,380)
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,910,942
<br />2,905,678
<br />5,263
<br />TOTAL RESTRICTED ASSETS
<br />4,689,957
<br />4,684,694
<br />5,263
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />824,065
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />46,796,693
<br />46,763,545
<br />33,147
<br />GENERAL
<br />22,967,764
<br />23,000,701
<br />(32,937)
<br />FIXED ASSETS (COST)
<br />72,893,546
<br />72,893,336
<br />210
<br />LESS ACCUMULATED DEPRECIATION
<br />(32,731,466)
<br />(32,556,302)
<br />(175,164)
<br />TOTAL FIXED ASSETS, NET
<br />40,162,080
<br />40,337,034
<br />(174,954)
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />5,290,120
<br />5,290,120
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(3,005,457)
<br />(2,949,780)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,830,874
<br />23,886,552
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,187,557
<br />1,187,557
<br />0
<br />TOTAL ASSETS
<br />86,449,158
<br />87,019,906
<br />(570,748)
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,296,881
<br />4,169,822
<br />127,059
<br />SALARIES AND BENEFITS PAYABLE
<br />582,663
<br />656,374
<br />(73,711)
<br />DUE TO CITY
<br />797,988
<br />1,252,449
<br />(454,462)
<br />BONDS PAYABLE -CURRENT PORTION
<br />435,000
<br />435,000
<br />0
<br />UNEARNED REVENUE
<br />160,966
<br />162,963
<br />(1,998)
<br />TOTAL CURRENT LIABILITIES
<br />6,273,498
<br />6,676,609
<br />(403,111)
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />29,260,159
<br />29,265,147
<br />(4,989)
<br />PENSION LIABILITIES
<br />3,789,381
<br />3,789,381
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />33,049,540
<br />33,054,528
<br />(4,989)
<br />TOTAL LIABILITIES
<br />39,323,037
<br />39,731,137
<br />(408,100)
<br />DEFERRED INFLOWS OF RESOURCES
<br />54,129
<br />54,129
<br />0
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />1,779,016
<br />0
<br />RETAINED EARNINGS
<br />45,204,945
<br />45,204,945
<br />0
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />88,031
<br />250,679
<br />(162,648)
<br />TOTAL FUND EQUITY
<br />47,071,992
<br />47,234,640
<br />(162,648)
<br />TOTAL LIABILITIES & FUND EQUITY
<br />86,449,158
<br />87,019,906
<br />(570,748)
<br />63
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