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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING APRIL 2023
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />10,775,888
<br />8,513,001
<br />ACCOUNTS RECEIVABLE
<br />2,479,608
<br />5,470,859
<br />INVENTORIES
<br />1,394,117
<br />25,250
<br />PREPAID ITEMS
<br />233,160
<br />49,378
<br />CONSTRUCTION IN PROGRESS
<br />1,075,097
<br />974,872
<br />TOTAL CURRENT ASSETS
<br />15,957,871
<br />15,033,360
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,918,876
<br />1,358,160
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,697,892
<br />1,358,160
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />16,525,311
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />46,946,016
<br />26,766,971
<br />GENERAL
<br />23,017,618
<br />1,129,389
<br />FIXED ASSETS (COST)
<br />73,092,723
<br />44,421,670
<br />LESS ACCUMULATED DEPRECIATION
<br />(32,939,798)
<br />(22,489,038)
<br />TOTAL FIXED ASSETS, NET
<br />40,152,925
<br />21,932,632
<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 />(3,061,135)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,775,196
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,187,557
<br />226,587
<br />TOTAL ASSETS
<br />85,771,441
<br />38,550,739
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />3,747,356
<br />287,510
<br />SALARIES AND BENEFITS PAYABLE
<br />516,779
<br />118,914
<br />DUE TO CITY
<br />627,596
<br />1,658
<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 />158,968
<br />174,926
<br />TOTAL CURRENT LIABILITIES
<br />5,485,700
<br />643,007
<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 />29,255,170
<br />1,626,379
<br />PENSION LIABILITIES
<br />3,789,381
<br />725,038
<br />TOTAL LONG TERM LIABILITIES
<br />33,044,551
<br />2,351,417
<br />TOTAL LIABILITIES
<br />38,530,251
<br />2,994,425
<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 />203,100
<br />(452,923)
<br />TOTAL FUND EQUITY
<br />47,187,061
<br />30,434,483
<br />TOTAL LIABILITIES & FUND EQUITY
<br />85,771,441
<br />38,550,739
<br />.a
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