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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING MARCH 2O23
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />10,924,929
<br />8,381,529
<br />ACCOUNTS RECEIVABLE
<br />2,799,299
<br />5,696,716
<br />INVENTORIES
<br />1,398,553
<br />29,273
<br />PREPAID ITEMS
<br />336,724
<br />71,603
<br />CONSTRUCTION IN PROGRESS
<br />1,119,184
<br />940,617
<br />TOTAL CURRENT ASSETS
<br />16,578,689
<br />15,119,738
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,910,942
<br />1,356,176
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,689,957
<br />1,356,176
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />16,510,965
<br />LFG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />46,796,693
<br />26,729,422
<br />GENERAL
<br />22,967,764
<br />1,117,615
<br />FIXED ASSETS (COST)
<br />72,893,546
<br />44,358,001
<br />LESS ACCUMULATED DEPRECIATION
<br />(32,731,466)
<br />(22,391,401)
<br />TOTAL FIXED ASSETS, NET
<br />40,162,080
<br />21,966,600
<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 />(3,005,457)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,830,874
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,187,557
<br />226,587
<br />TOTAL ASSETS
<br />86,449,158
<br />38,669,101
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,296,881
<br />298,718
<br />SALARIES AND BENEFITS PAYABLE
<br />582,663
<br />132,207
<br />DUE TO CITY
<br />797,988
<br />915
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />435,000
<br />60,000
<br />UNEARNED REVENUE
<br />160,966
<br />174,926
<br />TOTAL CURRENT LIABILITIES
<br />6,273,498
<br />666,767
<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 />29,260,159
<br />1,626,934
<br />PENSION LIABILITIES
<br />3,789,381
<br />725,038
<br />TOTAL LONG TERM LIABILITIES
<br />33,049,540
<br />2,351,972
<br />TOTAL LIABILITIES
<br />39,323,037
<br />3,018,738
<br />DEFERRED INFLOWS OF RESOURCES
<br />54,129
<br />5,121,831
<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 />45,204,945
<br />30,887,406
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />88,031
<br />(358,874)
<br />TOTAL FUND EQUITY
<br />47,071,992
<br />30,528,532
<br />TOTAL LIABILITIES & FUND EQUITY
<br />86,449,158
<br />38,669,101
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