4.2 ERMUSR 04-12-2022149
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
ELECTRIC BALANCE SHEET
Current Month
Change from
February 28, 2022January 31, 2022
ASSETS
CURRENT ASSETS
CASH15,818,02318,345,074(2,527,051)
ACCOUNTS RECEIVABLE2,662,1622,675,981(13,819)
INVENTORIES1,083,5981,009,66873,930
PREPAID ITEMS245,546276,932(31,386)
CONSTRUCTION IN PROGRESS8,330,8596,826,8351,504,024
TOTAL CURRENT ASSETS28,140,18829,134,491(994,302)
RESTRICTED ASSETS
BOND RESERVE FUND1,779,0161,779,0160
EMERGENCY RESERVE FUND2,844,9562,844,556400
TOTAL RESTRICTED ASSETS4,623,9724,623,572400
FIXED ASSETS
PRODUCTION788,761788,7610
LFG PROJECT3,851,4423,851,4420
TRANSMISSION2,305,0242,305,0240
DISTRIBUTION45,241,76945,159,44282,327
GENERAL11,808,97611,778,69630,280
FIXED ASSETS (COST)63,995,97163,883,364112,607
LESS ACCUMULATED DEPRECIATION(34,132,105)(33,937,682)(194,424)
TOTAL FIXED ASSETS, NET29,863,86529,945,682(81,817)
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY-IN21,546,21221,546,2120
LOSS OF REVENUE INTANGIBLE4,349,6534,349,6530
LESS ACCUMULATED AMORTIZATION(2,281,644)(2,225,966)(55,678)
TOTAL INTANGIBLE ASSETS, NET23,614,22023,669,898(55,678)
OTHER ASSETS AND DEFERRED OUTFLOWS1,431,1431,431,1430
TOTAL ASSETS 87,673,38988,804,786(1,131,397)
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE5,354,5015,529,460(174,959)
SALARIES AND BENEFITS PAYABLE577,562558,09419,468
DUE TO CITY805,633961,387(155,754)
NOTES PAYABLE-CURRENT PORTION174,270191,697(17,427)
BONDS PAYABLE-CURRENT PORTION345,0001,055,000(710,000)
UNEARNED REVENUE9,72310,588(866)
TOTAL CURRENT LIABILITIES7,266,6898,306,226(1,039,538)
LONG TERM LIABILITIES
DUE TO CITY90,72090,7200
BONDS PAYABLE, LESS CURRENT PORTION30,240,00930,244,998(4,989)
PENSION LIABILITIES1,978,7581,978,7580
TOTAL LONG TERM LIABILITIES32,309,48732,314,476(4,989)
TOTAL LIABILITIES 39,576,17640,620,702(1,044,526)
DEFERRED INFLOWS OF RESOURCES1,818,3031,818,3030
FUND EQUITY
CAPITAL ACCOUNT CONST COST1,779,0161,779,0160
RETAINED EARNINGS45,088,63145,088,6310
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(588,737)(501,866)(86,871)
TOTAL FUND EQUITY46,278,91046,365,781(86,871)
TOTAL LIABILITIES & FUND EQUITY 87,673,38988,804,786(1,131,397)
150
ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
WATER BALANCE SHEET
Current Month
Change from
February 28, 2022January 31, 2022
ASSETS
CURRENT ASSETS
CASH8,814,5459,334,148(519,603)
ACCOUNTS RECEIVABLE268,396268,148249
INVENTORIES21,45421,598(144)
PREPAID ITEMS43,90647,614(3,708)
CONSTRUCTION IN PROGRESS98,965202,971(104,006)
TOTAL CURRENT ASSETS9,247,2669,874,479(627,213)
RESTRICTED ASSETS
EMERGENCY RESERVE FUND1,339,6801,339,580100
TOTAL RESTRICTED ASSETS1,339,6801,339,580100
FIXED ASSETS
PRODUCTION14,875,33314,850,40624,927
DISTRIBUTION25,721,85525,610,706111,149
GENERAL1,070,5461,070,5460
FIXED ASSETS (COST)41,667,73441,531,658136,075
LESS ACCUMULATED DEPRECIATION(21,175,437)(21,082,642)(92,795)
TOTAL FIXED ASSETS, NET20,492,29720,449,01643,280
INTANGIBLE ASSETS
OTHER ASSETS AND DEFERRED OUTFLOWS266,964266,9640
TOTAL ASSETS 31,346,20731,930,039(583,833)
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE490,433720,858(230,425)
SALARIES AND BENEFITS PAYABLE141,113136,8704,243
DUE TO CITY25,72930,569(4,840)
BONDS PAYABLE-CURRENT PORTION50,000320,000(270,000)
UNEARNED REVENUE121,675145,157(23,482)
TOTAL CURRENT LIABILITIES828,9511,353,455(524,504)
LONG TERM LIABILITIES
DUE TO CITY22,68022,6800
BONDS PAYABLE, LESS CURRENT PORTION1,694,1391,694,693(554)
PENSION LIABILITIES369,988369,9880
TOTAL LONG TERM LIABILITIES2,086,8072,087,361(554)
TOTAL LIABILITIES 2,915,7583,440,816(525,058)
DEFERRED INFLOWS OF RESOURCES339,354339,3540
FUND EQUITY
RETAINED EARNINGS28,234,00928,234,0090
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(142,914)(84,140)(58,775)
TOTAL FUND EQUITY28,091,09528,149,869(58,775)
TOTAL LIABILITIES & FUND EQUITY 31,346,20731,930,039(583,833)
151
152
153
Elk River Municipal Utilities Monthly Electrical Demand
80.0
75.0
70.0
65.0
60.0
55.0
Demand in MW 50.0
45.0
40.0
35.0
Month
20212022
Elk River Municipal Utilities Monthly Energy Purchases
40,000
35,000
30,000
25,000
20,000
Energy Purchases in MWH
15,000
Month
20212022
154