5.1a ERMUSR 01-10-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING NOVEMBER 2022
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
10,517,616
10,287,364
ACCOUNTS RECEIVABLE
3,840,884
514,788
INVENTORIES
1,159,723
29,463
PREPAID ITEMS
242,478
51,580
CONSTRUCTION IN PROGRESS
13,155,126
966,592
TOTAL CURRENT ASSETS
28,915,826
11,849,788
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
2,872,333
1,346,524
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
4,651,349
1,346,524
FIXED ASSETS
PRODUCTION
788,807
14,962,754
LEG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
46,066,818
25,751,342
GENERAL
12,018,578
1,081,462
FIXED ASSETS (COST)
61,179,227
41,795,558
LESS ACCUMULATED DEPRECIATION
(31,899,423)
(22,003,222)
TOTAL FIXED ASSETS, NET
29,279,804
19,792,335
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
4,349,653
0
LESS ACCUMULATED AMORTIZATION
(2,782,746)
0
TOTAL INTANGIBLE ASSETS, NET
23,113,119
0
OTHER ASSETS AND DEFERRED OUTFLOWS
1,431,143
266,964
TOTAL ASSETS
87,391,240
33,255,611
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
4,804,380
561,107
SALARIES AND BENEFITS PAYABLE
615,837
143,795
DUE TO CITY
722,554
2,198
DUE TO OTHER FUNDS
0
0
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
0
0
UNEARNED REVENUE
866
161,214
TOTAL CURRENT LIABILITIES
6,143,636
868,315
LONG TERM LIABILITIES
OPEB LIABILITY
0
0
LEG PROJECT
0
0
DUE TO COUNTY
0
0
DUE TO CITY
90,720
22,680
BONDS PAYABLE, LESS CURRENT PORTION
30,195,113
1,689,151
PENSION LIABILITIES
1,978,758
369,988
TOTAL LONG TERM LIABILITIES
32,264,591
2,081,819
TOTAL LIABILITIES
38,408,227
2,950,133
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)
297,064
1,732,115
TOTAL FUND EQUITY
47,164,710
29,966,124
TOTAL LIABILITIES & FUND EQUITY
87,391,240
33,255,611
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