5.1b ERMUSR 08-09-2022ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
ELECTRIC BALANCE SHEET
Current Month
Change from
Prior MonthJune 30, 2022 May 31, 2022
ASSETS
CURRENT ASSETS
CASH 13,135,978 13,522,365 (386,388)
ACCOUNTS RECEIVABLE 4,153,502 3,531,245 622,257
INVENTORIES 1,101,006 1,151,411 (50,405)
PREPAID ITEMS 237,690 228,839 8,850
CONSTRUCTION IN PROGRESS 10,753,471 9,955,265 798,206
TOTAL CURRENT ASSETS 29,381,645 28,389,126 992,520
RESTRICTED ASSETS
BOND RESERVE FUND 1,779,016 1,779,016 0
EMERGENCY RESERVE FUND 2,857,398 2,852,369 5,029
TOTAL RESTRICTED ASSETS 4,636,414 4,631,385 5,029
FIXED ASSETS
PRODUCTION 788,761 788,761 0
LFG PROJECT 3,851,442 3,851,442 0
TRANSMISSION 2,305,024 2,305,024 0
DISTRIBUTION 45,388,333 45,362,913 25,420
GENERAL 11,808,072 11,808,072 0
FIXED ASSETS (COST)64,141,631 64,116,211 25,420
LESS ACCUMULATED DEPRECIATION (34,800,051)(34,606,925)(193,126)
TOTAL FIXED ASSETS, NET 29,341,581 29,509,286 (167,705)
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY-IN 21,546,212 21,546,212 0
LOSS OF REVENUE INTANGIBLE 4,349,653 4,349,653 0
LESS ACCUMULATED AMORTIZATION (2,504,356)(2,448,678)(55,678)
TOTAL INTANGIBLE ASSETS, NET 23,391,509 23,447,186 (55,678)
OTHER ASSETS AND DEFERRED OUTFLOWS 1,431,143 1,431,143 0
TOTAL ASSETS 88,182,291 87,408,126 774,165
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 5,953,016 5,055,612 897,405
SALARIES AND BENEFITS PAYABLE 548,855 506,350 42,505
DUE TO CITY 831,436 714,293 117,143
NOTES PAYABLE-CURRENT PORTION 104,562 121,989 (17,427)
BONDS PAYABLE-CURRENT PORTION 345,000 345,000 0
UNEARNED REVENUE 6,261 7,126 (866)
TOTAL CURRENT LIABILITIES 7,789,130 6,750,370 1,038,760
LONG TERM LIABILITIES
DUE TO CITY 90,720 90,720 0
BONDS PAYABLE, LESS CURRENT PORTION 30,220,055 30,225,044 (4,989)
PENSION LIABILITIES 1,978,758 1,978,758 0
TOTAL LONG TERM LIABILITIES 32,289,533 32,294,522 (4,989)
TOTAL LIABILITIES 40,078,663 39,044,892 1,033,772
DEFERRED INFLOWS OF RESOURCES 1,818,303 1,818,303 0
FUND EQUITY
CAPITAL ACCOUNT CONST COST 1,779,016 1,779,016 0
RETAINED EARNINGS 45,088,631 45,088,631 0
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)(582,322)(322,715)(259,606)
TOTAL FUND EQUITY 46,285,325 46,544,932 (259,606)
TOTAL LIABILITIES & FUND EQUITY 88,182,291 87,408,126 774,165
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