5.1a ERMUSR 06-13-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING APRIL 2023
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
10,775,888
8,513,001
ACCOUNTS RECEIVABLE
2,479,608
5,470,859
INVENTORIES
1,394,117
25,250
PREPAID ITEMS
233,160
49,378
CONSTRUCTION IN PROGRESS
1,075,097
974,872
TOTAL CURRENT ASSETS
15,957,871
15,033,360
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
2,918,876
1,358,160
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
4,697,892
1,358,160
FIXED ASSETS
PRODUCTION
824,065
16,525,311
LEG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
46,946,016
26,766,971
GENERAL
23,017,618
1,129,389
FIXED ASSETS (COST)
73,092,723
44,421,670
LESS ACCUMULATED DEPRECIATION
(32,939,798)
(22,489,038)
TOTAL FIXED ASSETS, NET
40,152,925
21,932,632
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
5,290,120
0
LESS ACCUMULATED AMORTIZATION
(3,061,135)
0
TOTAL INTANGIBLE ASSETS, NET
23,775,196
0
OTHER ASSETS AND DEFERRED OUTFLOWS
1,187,557
226,587
TOTAL ASSETS
85,771,441
38,550,739
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
3,747,356
287,510
SALARIES AND BENEFITS PAYABLE
516,779
118,914
DUE TO CITY
627,596
1,658
DUE TO OTHER FUNDS
0
0
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
435,000
60,000
UNEARNED REVENUE
158,968
174,926
TOTAL CURRENT LIABILITIES
5,485,700
643,007
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
29,255,170
1,626,379
PENSION LIABILITIES
3,789,381
725,038
TOTAL LONG TERM LIABILITIES
33,044,551
2,351,417
TOTAL LIABILITIES
38,530,251
2,994,425
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)
203,100
(452,923)
TOTAL FUND EQUITY
47,187,061
30,434,483
TOTAL LIABILITIES & FUND EQUITY
85,771,441
38,550,739
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