5.02a ERMUSR 11-14-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING SEPTEMBER 2023
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
9,832,573
9,490,824
ACCOUNTS RECEIVABLE
4,026,191
5,802,528
INVENTORIES
1,185,630
15,383
PREPAID ITEMS
195,997
44,230
CONSTRUCTION IN PROGRESS
2,534,118
1,117,125
TOTAL CURRENT ASSETS
17,774,510
16,470,090
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
2,935,328
1,362,273
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
4,714,343
1,362,273
FIXED ASSETS
PRODUCTION
824,065
16,525,311
LEG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
47,610,417
26,858,844
GENERAL
23,135,471
1,199,663
FIXED ASSETS (COST)
73,874,977
44,583,817
LESS ACCUMULATED DEPRECIATION
(33,845,383)
(22,972,246)
TOTAL FIXED ASSETS, NET
40,029,594
21,611,571
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
5,290,120
0
LESS ACCUMULATED AMORTIZATION
(3,339,525)
0
TOTAL INTANGIBLE ASSETS, NET
23,496,807
0
OTHER ASSETS AND DEFERRED OUTFLOWS
1,187,557
226,587
TOTAL ASSETS
87,202,810
39,670,521
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
4,858,927
382,337
SALARIES AND BENEFITS PAYABLE
537,540
120,149
DUE TO CITY
880,932
2,141
DUE TO OTHER FUNDS
0
0
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
0
0
UNEARNED REVENUE
148,981
407,124
TOTAL CURRENT LIABILITIES
6,426,380
911,752
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
29,230,227
1,623,608
PENSION LIABILITIES
3,789,381
725,038
TOTAL LONG TERM LIABILITIES
33,019,608
2,348,646
TOTAL LIABILITIES
39,445,988
3,260,398
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)
718,732
400,886
TOTAL FUND EQUITY
47,702,693
31,288,292
TOTAL LIABILITIES & FUND EQUITY
87,202,810
39,670,521
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