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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />COMBINED BALANCE SHEET
<br />FOR PERIOD ENDING DECEMBER 2024
<br />ELECTRIC
<br />WATER
<br />ASSETS
<br />CURRENT ASSETS
<br />CASH
<br />5,508,725
<br />5,847,299
<br />ACCOUNTS RECEIVABLE
<br />2,162,381
<br />5,435,291
<br />INVENTORIES
<br />1,637,838
<br />56,846
<br />PREPAID ITEMS
<br />252,217
<br />56,336
<br />CONSTRUCTION IN PROGRESS
<br />2,263,494
<br />1,092,947
<br />TOTAL CURRENT ASSETS
<br />11,824,655
<br />12,488,719
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND
<br />1,779,016
<br />0
<br />EMERGENCY RESERVE FUND
<br />7,393,332
<br />4,226,774
<br />UNRESTRICTED RESERVE FUND
<br />0
<br />0
<br />TOTAL RESTRICTED ASSETS
<br />9,172,348
<br />4,226,774
<br />FIXED ASSETS
<br />PRODUCTION
<br />824,065
<br />17,172,651
<br />LEG PROJECT
<br />0
<br />0
<br />TRANSMISSION
<br />2,305,024
<br />0
<br />DISTRIBUTION
<br />52,617,602
<br />30,354,171
<br />GENERAL
<br />25,401,305
<br />1,553,633
<br />FIXED ASSETS (COST)
<br />81,147,995
<br />49,080,455
<br />LESS ACCUMULATED DEPRECIATION
<br />(36,852,268)
<br />(24,489,598)
<br />TOTAL FIXED ASSETS, NET
<br />44,295,727
<br />24,590,857
<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 />(4,174,694)
<br />0
<br />TOTAL INTANGIBLE ASSETS, NET
<br />23,594,796
<br />0
<br />OTHER ASSETS AND DEFERRED OUTFLOWS
<br />690,058
<br />126,311
<br />TOTAL ASSETS
<br />89,577,584
<br />41,432,660
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE
<br />4,558,327
<br />452,009
<br />SALARIES AND BENEFITS PAYABLE
<br />878,182
<br />129,806
<br />DUE TO CITY
<br />1,027,238
<br />149,746
<br />DUE TO OTHER FUNDS
<br />(112,881)
<br />112,881
<br />NOTES PAYABLE -CURRENT PORTION
<br />0
<br />0
<br />BONDS PAYABLE -CURRENT PORTION
<br />990,000
<br />65,000
<br />UNEARNED REVENUE
<br />4,305
<br />459,500
<br />TOTAL CURRENT LIABILITIES
<br />7,345,170
<br />1,368,942
<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 />27,210,400
<br />1,490,295
<br />PENSION LIABILITIES
<br />2,720,477
<br />500,450
<br />TOTAL LONG TERM LIABILITIES
<br />29,930,877
<br />1,990,745
<br />TOTAL LIABILITIES
<br />37,276,047
<br />3,359,687
<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 />2,883,492
<br />14,977
<br />TOTAL FUND EQUITY
<br />51,464,724
<br />33,134,990
<br />TOTAL LIABILITIES & FUND EQUITY
<br />89,577,584
<br />41,432,660
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