5.1a ERMU 12-12-2023ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING OCTOBER 2023
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
11,372,408
9,722,565
ACCOUNTS RECEIVABLE
2,454,403
5,617,495
INVENTORIES
1,112,052
13,222
PREPAID ITEMS
260,994
54,335
CONSTRUCTION IN PROGRESS
2,631,049
1,387,698
TOTAL CURRENT ASSETS
17,830,905
16,795,314
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
2,943,090
1,364,213
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
4,722,105
1,364,213
FIXED ASSETS
PRODUCTION
824,065
16,525,311
LFG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
47,950,378
26,858,844
GENERAL
23,149,360
1,204,196
FIXED ASSETS (COST)
74,228,827
44,588,350
LESS ACCUMULATED DEPRECIATION
(34,054,500)
(23,069,785)
TOTAL FIXED ASSETS, NET
40,174,327
21,518,566
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
5,290,120
0
LESS ACCUMULATED AMORTIZATION
(3,395,203)
0
TOTAL INTANGIBLE ASSETS, NET
23,441,129
0
OTHER ASSETS AND DEFERRED OUTFLOWS
1,187,557
226,587
TOTAL ASSETS
87,356,023
39,904,680
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
4,352,383
438,705
SALARIES AND BENEFITS PAYABLE
582,037
127,906
DUE TO CITY
930,252
2,993
DUE TO OTHER FUNDS
0
0
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
0
0
UNEARNED REVENUE
146,983
438,961
TOTAL CURRENT LIABILITIES
6,011,656
1,008,564
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
29,225,239
1,623,054
PENSION LIABILITIES
3,789,381
725,038
TOTAL LONG TERM LIABILITIES
33,014,620
2,348,092
TOTAL LIABILITIES
39,026,276
3,356,656
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)
1,291,657
538,787
TOTAL FUND EQUITY
48,275,618
31,426,193
TOTAL LIABILITIES & FUND EQUITY
87,356,023
39,904,680
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