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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />June 30, 2024
<br />May 31, 2024
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />5,693,124
<br />5,771,470
<br />(78,345)
<br />ACCOUNTS RECEIVABLE
<br />3,097,224
<br />2,730,688
<br />366,536
<br />INVENTORIES
<br />1,360,708
<br />1,392,685
<br />(31,978)
<br />PREPAID ITEMS
<br />260,807
<br />225,759
<br />35,047
<br />CONSTRUCTION IN PROGRESS
<br />1,868,621
<br />1,536,682
<br />331,939
<br />TOTAL CURRENT ASSETS
<br />12,280,483
<br />11,657,284
<br />623,199
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,221,903
<br />7,191,602
<br />30,301
<br />TOTAL RESTRICTED ASSETS
<br />9,000,919
<br />8,970,618
<br />30,301
<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 />49,758,323
<br />49,617,387
<br />140,936
<br />GENERAL
<br />24,593,356
<br />24,532,672
<br />60,683
<br />FIXED ASSETS (COST)
<br />77,480,767
<br />77,279,148
<br />201,619
<br />LESS ACCUMULATED DEPRECIATION
<br />(35,556,157)
<br />(35,336,734)
<br />(219,423)
<br />TOTAL FIXED ASSETS, NET
<br />41,924,610
<br />41,942,414
<br />(17,804)
<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 />(3,840,627)
<br />(3,784,949)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,928,864
<br />23,984,542
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />690,058
<br />0
<br />TOTAL ASSETS
<br />87,824,935
<br />87,244,916
<br />580,018
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,880,911
<br />4,381,401
<br />499,510
<br />SALARIES AND BENEFITS PAYABLE
<br />716,517
<br />696,406
<br />20,111
<br />DUE TO CITY
<br />863,890
<br />759,180
<br />104,710
<br />BONDS PAYABLE -CURRENT PORTION
<br />460,000
<br />460,000
<br />0
<br />UNEARNED REVENUE
<br />11,985
<br />13,982
<br />(1,998)
<br />TOTAL CURRENT LTABILTTIES
<br />6,933,303
<br />6,310,970
<br />622,333
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />28,230,331
<br />28,235,319
<br />(4,989)
<br />PENSION LIABILITIES
<br />2,720,477
<br />2,720,477
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />30,950,808
<br />30,955,796
<br />(4,989)
<br />TOTAL LIABILITIES
<br />37,884,111
<br />37,266,766
<br />617,345
<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 />522,778
<br />560,104
<br />(37,326)
<br />TOTAL FUND EQUITY
<br />49,104,011
<br />49,141,337
<br />(37,326)
<br />TOTAL LIABILITIES & FUND EQUITY
<br />87,824,935
<br />87,244,916
<br />580,018
<br />63
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