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4.1a ERMUSR 04-13-2021Elk River Municipal Utilities 2020 Financial Statement Audit 133 Introduction Bveju!Pqjojpo!boe! Sftqpotjcjmjuz Fmfdusjd!Gvoe!Sftvmut Xbufs!Gvoe!Sftvmut 2 134 Audit Results Bvejups“t!Pqjojpo Njooftpub!Mfhbm! Dpnqmjbodf 3 135 Electric Fund !%41-111-111 Expenditures !%36-111-111 by Type !%31-111-111 !%26-111-111 !%21-111-111 !%6-111-111 !%. !Qvsdibtfe!Qpxfs!Qspevdujpo!boe!Dvtupnfs!Efqsfdjbujpo!Hfofsbm!boe EjtusjcvujpoBddpvoutBenjojtusbujwf 3129312:3131 4 136 !%56-111-111 !%51-111-111 !%46-111-111 !%41-111-111 Electric Fund - !%36-111-111 !%31-111-111 Cash Flows from !%26-111-111 Operations and !%21-111-111 !%6-111-111 Cash Balances !%. 3128312831293129312:312:31313131 Pqfsbujoh!EjtcvstfnfoutEfcu!QbznfoutPqfsbujoh!Sfdfjqut !%31-111-111 %28-763-18:! !%29-111-111 %27-254-392! !%27-111-111 %26-38:-558! %24-914-7:3! !%25-111-111 !%23-111-111 !%21-111-111 !%9-111-111 !%7-111-111 !%5-111-111 !%3-111-111 !%. 31283129312:3131 Vosftusjdufe!DbtiSftusjdufe!gps!Efcu!TfswjdfVosftusjdufe!Eftjhobufe!Dbti!Sftfswf 5 137 !%56-111-111 Electric !%51-111-111 Operations !%46-111-111 !%41-111-111 !%36-111-111 !%31-111-111 !%26-111-111 !%21-111-111 !%6-111-111 !%. 3129312:3131 Pqfsbujoh!SfwfovftPqfsbujoh!Fyqfotft Dbti!boe!JowftunfoutCpoet!boe!Opuft!Qbzbcmf 6 138 Water Fund !%2-511-111 Expenditures !%2-311-111 by Type !%2-111-111 !%911-111 !%711-111 !%511-111 !%311-111 !%. QspevdujpoEjtusjcvujpoEfqsfdjbujpoDvtupnfs!bddpvoutHfofsbm!boe benjojtusbujwf 3129312:3131 7 139 !%4-611-111 !%4-111-111 !%3-611-111 Water Fund - !%3-111-111 Cash Flows from !%2-611-111 !%2-111-111 Operations and !%611-111 Cash Balances !%. 3128312831293129312:312:31313131 Pqfsbujoh!EjtcvstfnfoutEfcu!QbznfoutPqfsbujoh!Sfdfjqut !%21-111-111 !%:-111-111 %9-449-734! %8-7:3-496! !%9-111-111 %7-829-262! !%8-111-111 !%7-111-111 %6-446-181! !%6-111-111 !%5-111-111 !%4-111-111 !%3-111-111 !%2-111-111 !%. 31283129312:3131 Vosftusjdufe!Dbti!CbmbodfVosftusjdufe!Eftjhobufe!Sftfswf 8 140 Water !%:-111-111 Operations !%9-111-111 !%8-111-111 !%7-111-111 !%6-111-111 !%5-111-111 !%4-111-111 !%3-111-111 !%2-111-111 !%. 3129312:3131 Pqfsbujoh!SfwfovftPqfsbujoh!FyqfotftDbtiCpoet 9 141 Bvuipsj{feCpoetZfbs!pg Eftdsjqujpo boe!JttvfePvutuboejohNbuvsjuz Fmfdusjd!Sfwfovf!Sfgvoejoh!Cpoet-!Tfsjft!3127C%!2-481-111%586-1113133 H/P/!Xbufs!Sfwfovf!Sfgvoejoh!Cpoet!pg!31194-196-111641-1113133 Mboegjmm!.!Hfofsbups!Opuf4-632-111526-8513133 Debt H/P/!Dbqjubm!Jnqspwfnfou!Qmbo!Cpoet!pg!3121B2-376-111461-1113134 Fmfdusjd!Sfwfovf!Cpoet-!Tfsjft!3127B:-866-1119-:21-1113147 Obligations Fmfdusjd!Sfwfovf!Cpoet-!Tfsjft!3129B21-111-111:-711-1113159 Upubmt%!31-391-851 Upubm!Sfnbjojoh!Joufsftu!Qbznfout%9-2:8-922 %3-611-111 !%3-111-111 !%2-611-111 !%2-111-111 !%611-111 !%. 31323133313431353136313731383139313:3141 QsjodjqbmJoufsftu 10 142 !%41-111-111 %36-::1-813! !%38-111-111 Cash and %34-946-777! !%35-111-111 %32-::8-6:9! Investments !%32-111-111 Balance by Fund !%29-111-111 !%26-111-111 !%23-111-111 !%:-111-111 !%7-111-111 !%4-111-111 !%. 3129312:3131 !Fmfdusjd!Xbufs Evsjoh!pvs!bveju-!ju!xbt!opufe!uibu!pwfs!91&!pg!dbti!po!iboe!jt!jo!b! tbwjoht!bddpvou!fbsojoh!1/66&/!!Xf!sfdpnnfoe!sfwjfxjoh!npouimz! mjrvjejuz-!dvssfou!jowftunfout-!boe!nbslfu!dpoejujpot!jo!buufnqu!up! nbyjnj{f!joufsftu!fbsojoht!gps!uif!Vujmjujft/ 11 143 Audit Team Contacts Justin Nilson,CPA Jeff Hines,CPA Andy Berg, CPA Manager Associate Partner ustin.nilson@aemcpas.com eff.hines@aemcpas.com Andrew.berg@aemcpas.com JohnStachel Caydin Wolter,CPA Intern Associate hn.stachel@aemcpas.com aydin.wolter@aemcpas.com 12 144