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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />May 31, 2024
<br />April 30, 2024
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />5,771,470
<br />10,528,080
<br />(4,756,611)
<br />ACCOUNTS RECEIVABLE
<br />2,730,688
<br />2,042,847
<br />687,841
<br />INVENTORIES
<br />1,392,685
<br />1,434,907
<br />(42,221)
<br />PREPAID ITEMS
<br />225,759
<br />244,152
<br />(18,393)
<br />CONSTRUCTION IN PROGRESS
<br />1,536,682
<br />1,300,146
<br />236,536
<br />TOTAL CURRENT ASSETS
<br />11,657,284
<br />15,550,132
<br />(3,892,848)
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,191,602
<br />2,977,508
<br />4,214,095
<br />TOTAL RESTRICTED ASSETS
<br />8,970,618
<br />4,756,523
<br />4,214,095
<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 />49,617,387
<br />49,498,519
<br />118,868
<br />GENERAL
<br />24,532,672
<br />24,522,131
<br />10,541
<br />FIXED ASSETS (COST)
<br />77,279,148
<br />77,149,739
<br />129,409
<br />LESS ACCUMULATED DEPRECIATION
<br />(35,336,734)
<br />(35,116,690)
<br />(220,044)
<br />TOTAL FIXED ASSETS, NET
<br />41,942,414
<br />42,033,049
<br />(90,635)
<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 />6,223,278
<br />6,223,278
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(3,784,949)
<br />(3,729,271)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,984,542
<br />24,040,220
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />690,058
<br />0
<br />TOTAL ASSETS
<br />87,244,916
<br />87,069,983
<br />174,934
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,381,401
<br />4,182,105
<br />199,295
<br />SALARIES AND BENEFITS PAYABLE
<br />696,406
<br />741,136
<br />(44,730)
<br />DUE TO CITY
<br />759,180
<br />939,717
<br />(179,537)
<br />BONDS PAYABLE -CURRENT PORTION
<br />460,000
<br />460,000
<br />0
<br />UNEARNED REVENUE
<br />13,982
<br />15,980
<br />(1,998)
<br />TOTAL CURRENT LIABILITIES
<br />6,310,970
<br />6,337,939
<br />(26,969)
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />28,235,319
<br />28,240,308
<br />(4,989)
<br />PENSION LIABILITIES
<br />2,720,477
<br />2,720,477
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />30,955,796
<br />30,960,785
<br />(4,989)
<br />TOTAL LIABILITIES
<br />37,266,766
<br />37,298,723
<br />(31,957)
<br />DEFERRED INFLOWS OF RESOURCES
<br />836,813
<br />836,813
<br />0
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />1,779,016
<br />0
<br />RETAINED EARNINGS
<br />46,802,217
<br />46,802,217
<br />0
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />560,104
<br />353,213
<br />206,891
<br />TOTAL FUND EQUITY
<br />49,141,337
<br />48,934,446
<br />206,891
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,244,916
<br />87,069,983
<br />174,934
<br />145
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