6.1a1 ERMUSR 11-09-2021Minnesota Municipal Power Agency
Statement of Net Position
As of September 30, 2021 - Unaudited
Assets and Deferred Outflows of Resources
Current Assets
Cash and cash equivalents$65,682,091
Restricted cash and cash equivalents12,062,105
Accrued interest receivable 158,637
Power sales and other receivables14,280,535
y999,468
Fuel inventor
Plant inventory - spares3,875,458
Prepaid expenses772,028
Total current assets97,830,322
Noncurrent Assets
Capital assets
Electric generation assets432,231,897
Land10,223,081
n(168,587,075)
Less: accumulated depreciatio
Property and equipment, net273,867,903
Construction in progress1,108,129
Total capital assets, net274,976,032
Restricted cash, cash equivalents, and investments10,895,463
Prepaid expenses449,316
Future recoverable costs49,385,569
Total noncurrent assets335,706,380
Total assets433,536,702
Deferred Outflows of Resources
Deferred outflows of resources - other1,098,557
Total assets and deferred outflows of resources$434,635,259
Liabilities, Deferred Inflows of Resources and Net Position
Current Liabilities
Accounts payable and accrued liabilities$9,114,375
Accrued interest payable3,793,773
r8,268,333
Long-term debt due within one yea
Capital lease liability due within one year1,256,648
Total current liabilities22,433,129
Noncurrent Liabilities
Long-term debt, net176,387,077
t14,306,149
Capital lease liability, ne
Total noncurrent liabilities190,693,226
Total liabilities213,126,355
Deferred Inflows of Resources
Rate stabilization28,671,000
Other10,085,193
Total liabilities and deferred inflows of resources251,882,548
Net Position
Net investment in capital assets87,050,110
Restricted for debt service12,062,105
Unrestricted83,640,496
Total net position182,752,711
Total liabilities and deferred inflows of resources and net position$434,635,259
102
Minnesota Municipal Power Agency
Statements of Revenues, Expenses and Changes in Net Position
YTD September 30, 2021 - Unaudited
Operating Revenues
Power sales to members$123,126,224
Power sales to non-members1,046,557
Total operating revenues124,172,781
Operating Expenses
Power acquisition expense48,726,428
Transmission19,222,632
Other operating expenses21,494,831
Depreciation11,901,216
Total operating expenses101,345,107
Operating income (loss)22,827,674
Nonoperating Revenues (Expenses)
Interest expense(5,585,463)
Investment income312,244
Net (decrease) increase in the fair value of investments(213,321)
Other63,000
Total nonoperating revenues (expenses), net(5,423,540)
Change in net position before future recoverable costs17,404,134
Future Recoverable Costs(5,798,209)
Change in net position11,605,925
Net Position, Beginning of Year 171,146,786
Net Position, September 30, 2021$182,752,711
103