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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING SEPTEMBER 2024
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />5,819,975
<br />5,638,588
<br />ACCOUNTS RECEIVABLE
<br />3,394,606
<br />5,501,346
<br />INVENTORIES
<br />1,347,190
<br />69,218
<br />PREPAID ITEMS
<br />198,444
<br />48,498
<br />CONSTRUCTION IN PROGRESS
<br />2,397,675
<br />3,165,245
<br />TOTAL CURRENT ASSETS
<br />13,157,889
<br />14,422,895
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,307,146
<br />4,205,227
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />9,086,162
<br />4,205,227
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />17,050,836
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />50,387,525
<br />28,138,612
<br />GENERAL
<br />24,602,367
<br />1,242,733
<br />FIXED ASSETS (COST)
<br />78,118,980
<br />46,432,181
<br />LESS ACCUMULATED DEPRECIATION
<br />(36,187,727)
<br />(24,175,552)
<br />TOTAL FIXED ASSETS, NET
<br />41,931,254
<br />22,256,629
<br />INTANGIBLE ASSETS
<br />POWER AGENCY MEMBERSHIP BUY -IN
<br />21,546,212
<br />0
<br />LOSS OF REVENUE INTANGIBLE
<br />6,223,278
<br />0
<br />LESS ACCUMULATED AMORTIZATION
<br />(4,007,660)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,761,830
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />126,311
<br />TOTAL ASSETS
<br />88,627,193
<br />41,011,062
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />5,013,271
<br />326,604
<br />SALARIES AND BENEFITS PAYABLE
<br />727,683
<br />113,089
<br />DUE TO CITY
<br />885,668
<br />2,871
<br />DUE TO OTHER FUNDS
<br />0
<br />0
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />UNEARNED REVENUE
<br />5,992
<br />422,941
<br />TOTAL CURRENT LIABILITIES
<br />6,632,614
<br />865,506
<br />LONG TERM LIABILITIES
<br />OPEB LIABILITY
<br />0
<br />0
<br />LEG PROJECT
<br />0
<br />0
<br />DUE TO COUNTY
<br />0
<br />0
<br />DUE TO CITY
<br />0
<br />0
<br />BONDS PAYABLE, LESS CURRENT PORTION
<br />28,215,365
<br />1,556,957
<br />PENSION LIABILITIES
<br />2,720,477
<br />500,450
<br />TOTAL LONG TERM LIABILITIES
<br />30,935,842
<br />2,057,407
<br />TOTAL LIABILITIES
<br />37,568,456
<br />2,922,913
<br />DEFERRED INFLOWS OF RESOURCES
<br />836,813
<br />4,937,984
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST
<br />1,779,016
<br />0
<br />CONTRIBUTED CAPITAL
<br />0
<br />0
<br />RETAINED EARNINGS
<br />46,802,217
<br />33,120,013
<br />NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
<br />1,640,691
<br />30,153
<br />TOTAL FUND EQUITY
<br />50,221,924
<br />33,150,166
<br />TOTAL LIABILITIES & FUND EQUITY
<br />88,627,193
<br />41,011,062
<br />73
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