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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING NOVEMBER 2024
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />5,599,803
<br />5,822,103
<br />ACCOUNTS RECEIVABLE
<br />3,124,603
<br />5,492,763
<br />INVENTORIES
<br />1,746,242
<br />66,147
<br />PREPAID ITEMS
<br />255,641
<br />58,894
<br />CONSTRUCTION IN PROGRESS
<br />3,281,158
<br />3,348,085
<br />TOTAL CURRENT ASSETS
<br />14,007,446
<br />14,787,991
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,362,685
<br />4,219,152
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />9,141,701
<br />4,219,152
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />17,087,067
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />51,039,597
<br />28,171,542
<br />GENERAL
<br />24,838,418
<br />1,249,095
<br />FIXED ASSETS (COST)
<br />79,007,104
<br />46,507,705
<br />LESS ACCUMULATED DEPRECIATION
<br />(36,629,962)
<br />(24,375,690)
<br />TOTAL FIXED ASSETS, NET
<br />42,377,142
<br />22,132,015
<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 />(4,119,016)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,650,474
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />126,311
<br />TOTAL ASSETS
<br />89,866,821
<br />41,265,469
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,937,743
<br />422,358
<br />SALARIES AND BENEFITS PAYABLE
<br />805,044
<br />122,406
<br />DUE TO CITY
<br />757,985
<br />2,250
<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 />1,998
<br />455,414
<br />TOTAL CURRENT LIABILITIES
<br />6,502,769
<br />1,002,428
<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 />28,205,388
<br />1,555,849
<br />PENSION LIABILITIES
<br />2,720,477
<br />500,450
<br />TOTAL LONG TERM LIABILITIES
<br />30,925,865
<br />2,056,299
<br />TOTAL LIABILITIES
<br />37,428,634
<br />3,058,727
<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 />3,020,141
<br />148,745
<br />TOTAL FUND EQUITY
<br />51,601,374
<br />33,268,758
<br />TOTAL LIABILITIES & FUND EQUITY
<br />89,866,821
<br />41,265,469
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