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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING OCTOBER 2024
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />5,545,428
<br />5,666,528
<br />ACCOUNTS RECEIVABLE
<br />2,971,160
<br />5,586,707
<br />INVENTORIES
<br />1,747,109
<br />60,706
<br />PREPAID ITEMS
<br />230,494
<br />57,202
<br />CONSTRUCTION IN PROGRESS
<br />2,358,140
<br />3,260,091
<br />TOTAL CURRENT ASSETS
<br />12,852,331
<br />14,631,233
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,338,990
<br />4,213,228
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />9,118,006
<br />4,213,228
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />17,072,086
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />50,732,650
<br />28,138,612
<br />GENERAL
<br />24,780,734
<br />1,246,964
<br />FIXED ASSETS (COST)
<br />78,642,472
<br />46,457,662
<br />LESS ACCUMULATED DEPRECIATION
<br />(36,410,017)
<br />(24,275,504)
<br />TOTAL FIXED ASSETS, NET
<br />42,232,455
<br />22,182,158
<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 />(4,063,338)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,706,152
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />126,311
<br />TOTAL ASSETS
<br />88,599,002
<br />41,152,930
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,494,657
<br />318,771
<br />SALARIES AND BENEFITS PAYABLE
<br />781,952
<br />124,659
<br />DUE TO CITY
<br />700,485
<br />2,476
<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 />3,995
<br />455,414
<br />TOTAL CURRENT LIABILITIES
<br />5,981,089
<br />901,321
<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 />28,210,377
<br />1,556,403
<br />PENSION LIABILITIES
<br />2,720,477
<br />500,450
<br />TOTAL LONG TERM LIABILITIES
<br />30,930,854
<br />2,056,853
<br />TOTAL LIABILITIES
<br />36,911,943
<br />2,958,174
<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 />2,269,014
<br />136,760
<br />TOTAL FUND EQUITY
<br />50,850,246
<br />33,256,773
<br />TOTAL LIABILITIES & FUND EQUITY
<br />88,599,002
<br />41,152,930
<br />57
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