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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING OCTOBER 2023
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />11,372,408
<br />9,722,565
<br />ACCOUNTS RECEIVABLE
<br />2,454,403
<br />5,617,495
<br />INVENTORIES
<br />1,112,052
<br />13,222
<br />PREPAID ITEMS
<br />260,994
<br />54,335
<br />CONSTRUCTION IN PROGRESS
<br />2,631,049
<br />1,387,698
<br />TOTAL CURRENT ASSETS
<br />17,830,905
<br />16,795,314
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />2,943,090
<br />1,364,213
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />4,722,105
<br />1,364,213
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />16,525,311
<br />LFG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />47,950,378
<br />26,858,844
<br />GENERAL
<br />23,149,360
<br />1,204,196
<br />FIXED ASSETS (COST)
<br />74,228,827
<br />44,588,350
<br />LESS ACCUMULATED DEPRECIATION
<br />(34,054,500)
<br />(23,069,785)
<br />TOTAL FIXED ASSETS, NET
<br />40,174,327
<br />21,518,566
<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 />(3,395,203)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,441,129
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />1,187,557
<br />226,587
<br />TOTAL ASSETS
<br />87,356,023
<br />39,904,680
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,352,383
<br />438,705
<br />SALARIES AND BENEFITS PAYABLE
<br />582,037
<br />127,906
<br />DUE TO CITY
<br />930,252
<br />2,993
<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 />146,983
<br />438,961
<br />TOTAL CURRENT LIABILITIES
<br />6,011,656
<br />1,008,564
<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 />29,225,239
<br />1,623,054
<br />PENSION LIABILITIES
<br />3,789,381
<br />725,038
<br />TOTAL LONG TERM LIABILITIES
<br />33,014,620
<br />2,348,092
<br />TOTAL LIABILITIES
<br />39,026,276
<br />3,356,656
<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 />1,291,657
<br />538,787
<br />TOTAL FUND EQUITY
<br />48,275,618
<br />31,426,193
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,356,023
<br />39,904,680
<br />77
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