5.1a ERMUSR 04-11-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING FEBRUARY 2023
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
9,916,641
8,662,626
ACCOUNTS RECEIVABLE
4,488,337
5,718,356
INVENTORIES
1,326,540
29,929
PREPAID ITEMS
254,381
56,229
CONSTRUCTION IN PROGRESS
938,169
956,617
TOTAL CURRENT ASSETS
16,524,069
15,423,756
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
2,905,678
1,354,860
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
4,684,694
1,354,860
FIXED ASSETS
PRODUCTION
824,065
16,510,965
LEG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
46,763,545
26,724,925
GENERAL
23,000,701
1,125,849
FIXED ASSETS (COST)
72,893,336
44,361,739
LESS ACCUMULATED DEPRECIATION
(32,556,302)
(22,302,248)
TOTAL FIXED ASSETS, NET
40,337,034
22,059,491
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
5,290,120
0
LESS ACCUMULATED AMORTIZATION
(2,949,780)
0
TOTAL INTANGIBLE ASSETS, NET
23,886,552
0
OTHER ASSETS AND DEFERRED OUTFLOWS
1,187,557
226,587
TOTAL ASSETS
87,019,906
39,064,695
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
4,169,822
535,406
SALARIES AND BENEFITS PAYABLE
656,374
153,042
DUE TO CITY
1,252,449
30,421
DUE TO OTHER FUNDS
0
0
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
435,000
60,000
UNEARNED REVENUE
162,963
174,926
TOTAL CURRENT LIABILITIES
6,676,609
953,794
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
29,265,147
1,627,488
PENSION LIABILITIES
3,789,381
725,038
TOTAL LONG TERM LIABILITIES
33,054,528
2,352,526
TOTAL LIABILITIES
39,731,137
3,306,320
DEFERRED INFLOWS OF RESOURCES
54,129
5,121,831
FUND EQUITY
CAPITAL ACCOUNT CONST COST
1,779,016
0
CONTRIBUTED CAPITAL
0
0
RETAINED EARNINGS
45,204,945
30,887,406
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
250,679
(250,863)
TOTAL FUND EQUITY
47,234,640
30,636,543
TOTAL LIABILITIES & FUND EQUITY
87,019,906
39,064,695