5.1a ERMUSR 02-14-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING DECEMBER 2022
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
11,994,192
8,713,701
ACCOUNTS RECEIVABLE
3,719,870
476,569
INVENTORIES
1,111,834
28,388
PREPAID ITEMS
256,387
53,748
CONSTRUCTION IN PROGRESS
824,514
942,826
TOTAL CURRENT ASSETS
17,506,798
10,215,231
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
2,901,679
1,353,860
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
4,680,694
1,353,860
FIXED ASSETS
PRODUCTION
824,065
16,510,965
LEG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
46,705,080
26,461,173
GENERAL
22,930,110
1,122,302
FIXED ASSETS (COST)
72,764,279
44,094,440
LESS ACCUMULATED DEPRECIATION
(32,108,672)
(22,101,213)
TOTAL FIXED ASSETS, NET
40,655,607
21,993,226
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
5,290,120
0
LESS ACCUMULATED AMORTIZATION
(2,838,424)
0
TOTAL INTANGIBLE ASSETS, NET
23,997,908
0
OTHER ASSETS AND DEFERRED OUTFLOWS
1,431,143
266,964
TOTAL ASSETS
88,672,150
33,829,282
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
5,868,153
538,040
SALARIES AND BENEFITS PAYABLE
644,522
150,472
DUE TO CITY
905,366
24,643
DUE TO OTHER FUNDS
0
0
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
915,000
60,000
UNEARNED REVENUE
0
141,184
TOTAL CURRENT LIABILITIES
8,333,042
914,339
LONG TERM LIABILITIES
OPEB LIABILITY
0
0
LEG PROJECT
0
0
DUE TO COUNTY
0
0
DUE TO CITY
0
0
BONDS PAYABLE, LESS CURRENT PORTION
29,275,124
1,628,596
PENSION LIABILITIES
1,978,758
369,988
TOTAL LONG TERM LIABILITIES
31,253,882
1,998,584
TOTAL LIABILITIES
39,586,924
2,912,924
DEFERRED INFLOWS OF RESOURCES
1,818,303
339,354
FUND EQUITY
CAPITAL ACCOUNT CONST COST
1,779,016
0
CONTRIBUTED CAPITAL
0
0
RETAINED EARNINGS
45,088,631
28,234,009
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
399,277
2,342,996
TOTAL FUND EQUITY
47,266,923
30,577,005
TOTAL LIABILITIES & FUND EQUITY
88,672,150
33,829,282
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