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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />July 31, 2024
<br />June 30, 2024
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />6,487,770
<br />5,693,124
<br />794,645
<br />ACCOUNTS RECEIVABLE
<br />2,504,184
<br />3,097,224
<br />(593,040)
<br />INVENTORIES
<br />1,262,622
<br />1,360,708
<br />(98,086)
<br />PREPAID ITEMS
<br />265,464
<br />260,807
<br />4,658
<br />CONSTRUCTION IN PROGRESS
<br />2,054,890
<br />1,868,621
<br />186,269
<br />TOTAL CURRENT ASSETS
<br />12,574,929
<br />12,280,483
<br />294,446
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,248,402
<br />7,221,903
<br />26,499
<br />TOTAL RESTRICTED ASSETS
<br />9,027,418
<br />9,000,919
<br />26,499
<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 />50,011,394
<br />49,758,323
<br />253,071
<br />GENERAL
<br />24,618,312
<br />24,593,356
<br />24,957
<br />FIXED ASSETS (COST)
<br />77,758,795
<br />77,480,767
<br />279,028
<br />LESS ACCUMULATED DEPRECIATION
<br />(35,775,528)
<br />(35,556,157)
<br />(219,370)
<br />TOTAL FIXED ASSETS, NET
<br />41,983,267
<br />41,924,610
<br />58,657
<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 />(3,896,305)
<br />(3,840,627)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,873,186
<br />23,928,864
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />690,058
<br />0
<br />TOTAL ASSETS
<br />88,148,859
<br />87,824,935
<br />323,924
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />5,408,020
<br />4,880,911
<br />527,109
<br />SALARIES AND BENEFITS PAYABLE
<br />758,687
<br />716,517
<br />42,170
<br />DUE TO CITY
<br />939,669
<br />863,890
<br />75,779
<br />BONDS PAYABLE -CURRENT PORTION
<br />460,000
<br />460,000
<br />0
<br />UNEARNED REVENUE
<br />9,988
<br />11,985
<br />(1,998)
<br />TOTAL CURRENT LIABILITIES
<br />7,576,363
<br />6,933,303
<br />643,060
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />28,225,342
<br />28,230,331
<br />(4,989)
<br />PENSION LIABILITIES
<br />2,720,477
<br />2,720,477
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />30,945,819
<br />30,950,808
<br />(4,989)
<br />TOTAL LIABILITIES
<br />38,522,183
<br />37,884,111
<br />638,072
<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 />208,630
<br />522,778
<br />(314,148)
<br />TOTAL FUND EQUITY
<br />48,789,863
<br />49,104,011
<br />(314,148)
<br />TOTAL LIABILITIES & FUND EQUITY
<br />88,148,859
<br />87,824,935
<br />323,924
<br />57
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