5.1a ERMUSR 05-09-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING MARCH 2O23
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
10,924,929
8,381,529
ACCOUNTS RECEIVABLE
2,799,299
5,696,716
INVENTORIES
1,398,553
29,273
PREPAID ITEMS
336,724
71,603
CONSTRUCTION IN PROGRESS
1,119,184
940,617
TOTAL CURRENT ASSETS
16,578,689
15,119,738
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
2,910,942
1,356,176
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
4,689,957
1,356,176
FIXED ASSETS
PRODUCTION
824,065
16,510,965
LFG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
46,796,693
26,729,422
GENERAL
22,967,764
1,117,615
FIXED ASSETS (COST)
72,893,546
44,358,001
LESS ACCUMULATED DEPRECIATION
(32,731,466)
(22,391,401)
TOTAL FIXED ASSETS, NET
40,162,080
21,966,600
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
5,290,120
0
LESS ACCUMULATED AMORTIZATION
(3,005,457)
0
TOTAL INTANGIBLE ASSETS, NET
23,830,874
0
OTHER ASSETS AND DEFERRED OUTFLOWS
1,187,557
226,587
TOTAL ASSETS
86,449,158
38,669,101
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
4,296,881
298,718
SALARIES AND BENEFITS PAYABLE
582,663
132,207
DUE TO CITY
797,988
915
DUE TO OTHER FUNDS
0
0
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
435,000
60,000
UNEARNED REVENUE
160,966
174,926
TOTAL CURRENT LIABILITIES
6,273,498
666,767
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
29,260,159
1,626,934
PENSION LIABILITIES
3,789,381
725,038
TOTAL LONG TERM LIABILITIES
33,049,540
2,351,972
TOTAL LIABILITIES
39,323,037
3,018,738
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)
88,031
(358,874)
TOTAL FUND EQUITY
47,071,992
30,528,532
TOTAL LIABILITIES & FUND EQUITY
86,449,158
38,669,101
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