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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />ELECTRIC BALANCE SHEET
<br />Current Month
<br />Change from
<br />August 31, 2024
<br />July 31, 2024
<br />Prior Month
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />4,815,497
<br />6,487,770
<br />(1,672,273)
<br />ACCOUNTS RECEIVABLE
<br />3,981,775
<br />2,504,184
<br />1,477,591
<br />INVENTORIES
<br />1,301,600
<br />1,262,622
<br />38,978
<br />PREPAID ITEMS
<br />232,178
<br />265,464
<br />(33,286)
<br />CONSTRUCTION IN PROGRESS
<br />2,150,374
<br />2,054,890
<br />95,484
<br />TOTAL CURRENT ASSETS
<br />12,481,423
<br />12,574,929
<br />(93,506)
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,274,898
<br />7,248,402
<br />26,496
<br />TOTAL RESTRICTED ASSETS
<br />9,053,914
<br />9,027,418
<br />26,496
<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 />50,349,261
<br />50,011,394
<br />337,867
<br />GENERAL
<br />24,629,229
<br />24,618,312
<br />10,917
<br />FIXED ASSETS (COST)
<br />78,107,579
<br />77,759,795
<br />349,784
<br />LESS ACCUMULATED DEPRECIATION
<br />(35,995,185)
<br />(35,775,528)
<br />(219,657)
<br />TOTAL FIXED ASSETS, NET
<br />42,112,394
<br />41,983,267
<br />129,127
<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 />(3,951,982)
<br />(3,896,305)
<br />(55,678)
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,817,508
<br />23,873,186
<br />(55,678)
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />690,058
<br />0
<br />TOTAL ASSETS
<br />88,155,298
<br />88,148,859
<br />6,439
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />5,321,957
<br />5,408,020
<br />(86,062)
<br />SALARIES AND BENEFITS PAYABLE
<br />690,051
<br />759,687
<br />(68,636)
<br />DUE TO CITY
<br />810,977
<br />939,669
<br />(128,693)
<br />BONDS PAYABLE -CURRENT PORTION
<br />0
<br />460,000
<br />(460,000)
<br />UNEARNED REVENUE
<br />7,990
<br />9,988
<br />(1,998)
<br />TOTAL CURRENT LIABILITIES
<br />6,830,975
<br />7,576,363
<br />(745,389)
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />28,220,354
<br />28,225,342
<br />(4,989)
<br />PENSION LIABILITIES
<br />2,720,477
<br />2,720,477
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />30,940,831
<br />30,945,819
<br />(4,989)
<br />TOTAL LIABILITIES
<br />37,771,805
<br />38,522,183
<br />(750,377)
<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 />965,446
<br />208,630
<br />756,816
<br />TOTAL FUND EQUITY
<br />49,546,679
<br />48,789,863
<br />756,816
<br />TOTAL LIABILITIES & FUND EQUITY
<br />88,155,298
<br />88,148,859
<br />6,439
<br />42
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