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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />September 30, 2023
<br />August 31, 2023
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />9,832,573
<br />11,068,255
<br />(1,235,682)
<br />ACCOUNTS RECEIVABLE
<br />4,026,191
<br />2,720,964
<br />1,305,227
<br />INVENTORIES
<br />1,185,630
<br />1,164,694
<br />20,936
<br />PREPAID ITEMS
<br />195,997
<br />214,256
<br />(18,259)
<br />CONSTRUCTION IN PROGRESS
<br />2,534,118
<br />2,315,878
<br />218,241
<br />TOTAL CURRENT ASSETS
<br />17,774,510
<br />17,484,047
<br />290,463
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,935,328
<br />2,929,845
<br />5,482
<br />TOTAL RESTRICTED ASSETS
<br />4,714,343
<br />4,708,861
<br />5,482
<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 />47,610,417
<br />47,527,131
<br />83,286
<br />GENERAL
<br />23,135,471
<br />23,176,510
<br />(41,039)
<br />FIXED ASSETS (COST)
<br />73,874,977
<br />73,832,729
<br />42,247
<br />LESS ACCUMULATED DEPRECIATION
<br />(33,845,383)
<br />(33,678,256)
<br />(167,127)
<br />TOTAL FIXED ASSETS, NET
<br />40,029,594
<br />40,154,474
<br />(124,880)
<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 />(3,339,525)
<br />(3,283,847)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,496,807
<br />23,552,484
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,187,557
<br />1,187,557
<br />0
<br />TOTAL ASSETS
<br />87,202,810
<br />87,087,423
<br />115,387
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,858,927
<br />5,619,802
<br />(760,875)
<br />SALARIES AND BENEFITS PAYABLE
<br />537,540
<br />668,166
<br />(130,625)
<br />DUE TO CITY
<br />880,932
<br />773,573
<br />107,359
<br />UNEARNED REVENUE
<br />148,981
<br />150,978
<br />(1,998)
<br />TOTAL CURRENT LIABILITIES
<br />6,426,380
<br />7,212,519
<br />(786,140)
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />29,230,227
<br />29,235,216
<br />(4,989)
<br />PENSION LIABILITIES
<br />3,789,381
<br />3,789,381
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />33,019,608
<br />33,024,597
<br />(4,989)
<br />TOTAL LIABILITIES
<br />39,445,988
<br />40,237,116
<br />(791,128)
<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 />718,732
<br />(187,783)
<br />906,515
<br />TOTAL FUND EQUITY
<br />47,702,693
<br />46,796,178
<br />906,515
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,202,810
<br />87,087,423
<br />115,387
<br />
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