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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />WATER 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 />5,438,922
<br />5,401,639
<br />37,283
<br />ACCOUNTS RECEIVABLE
<br />5,486,738
<br />5,372,529
<br />114,209
<br />INVENTORIES
<br />56,166
<br />59,219
<br />(3,053)
<br />PREPAID ITEMS
<br />56,151
<br />60,967
<br />(4,816)
<br />CONSTRUCTION IN PROGRESS
<br />3,105,514
<br />3,014,520
<br />90,993
<br />TOTAL CURRENT ASSETS
<br />14,143,490
<br />13,909,874
<br />234,616
<br />RESTRICTED ASSETS
<br />EMERGENCY RESERVE FUND
<br />4,197,165
<br />4,190,541
<br />6,624
<br />TOTAL RESTRICTED ASSETS
<br />4,197,165
<br />4,190,541
<br />6,624
<br />FIXED ASSETS
<br />PRODUCTION
<br />17,050,836
<br />17,050,836
<br />0
<br />DISTRIBUTION
<br />28,138,612
<br />28,135,913
<br />2,699
<br />GENERAL
<br />1,242,733
<br />1,241,173
<br />1,560
<br />FIXED ASSETS (COST)
<br />46,432,181
<br />46,427,922
<br />4,259
<br />LESS ACCUMULATED DEPRECIATION
<br />(24,075,450)
<br />(23,974,927)
<br />(100,522)
<br />TOTAL FIXED ASSETS, NET
<br />22,356,731
<br />22,452,994
<br />(96,263)
<br />INTANGIBLE ASSETS
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />126,311
<br />126,311
<br />0
<br />TOTAL ASSETS
<br />40,823,698
<br />40,678,721
<br />144,976
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />356,759
<br />383,371
<br />(26,612)
<br />SALARIES AND BENEFITS PAYABLE
<br />100,315
<br />121,644
<br />(21,328)
<br />DUE TO CITY
<br />1,313
<br />4,846
<br />(3,533)
<br />BONDS PAYABLE -CURRENT PORTION
<br />0
<br />60,000
<br />(60,000)
<br />UNEARNED REVENUE
<br />334,127
<br />334,127
<br />0
<br />TOTAL CURRENT LIABILITIES
<br />792,514
<br />903,988
<br />(111,474)
<br />LONG TERM LIABILITIES
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />1,557,512
<br />1,559,066
<br />(554)
<br />PENSION LIABILITIES
<br />500,450
<br />500,450
<br />0
<br />TOTAL LONG TERM LIABILITIES
<br />2,057,962
<br />2,059,516
<br />(554)
<br />TOTAL LIABILITIES
<br />2,850,475
<br />2,962,503
<br />(112,028)
<br />DEFERRED INFLOWS OF RESOURCES
<br />4,937,984
<br />4,937,984
<br />0
<br />FUND EQUITY
<br />RETAINED EARNINGS
<br />33,120,013
<br />33,120,013
<br />0
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />(84,775)
<br />(341,779)
<br />257,005
<br />TOTAL FUND EQUITY
<br />33,035,238
<br />32,779,234
<br />257,005
<br />TOTAL LIABILITIES & FUND EQUITY
<br />40,823,698
<br />40,678,721
<br />144,976
<br />43
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