5.1a EMRUSR 02-11-2025ELK RIVER MUNICIPAL UTILITIES
ELK RIVER, MINNESOTA
COMBINED BALANCE SHEET
FOR PERIOD ENDING DECEMBER 2024
ELECTRIC
WATER
ASSETS
CURRENT ASSETS
CASH
5,508,725
5,847,299
ACCOUNTS RECEIVABLE
2,162,381
5,435,291
INVENTORIES
1,637,838
56,846
PREPAID ITEMS
252,217
56,336
CONSTRUCTION IN PROGRESS
2,263,494
1,092,947
TOTAL CURRENT ASSETS
11,824,655
12,488,719
RESTRICTED ASSETS
BOND RESERVE FUND
1,779,016
0
EMERGENCY RESERVE FUND
7,393,332
4,226,774
UNRESTRICTED RESERVE FUND
0
0
TOTAL RESTRICTED ASSETS
9,172,348
4,226,774
FIXED ASSETS
PRODUCTION
824,065
17,172,651
LEG PROJECT
0
0
TRANSMISSION
2,305,024
0
DISTRIBUTION
52,617,602
30,354,171
GENERAL
25,401,305
1,553,633
FIXED ASSETS (COST)
81,147,995
49,080,455
LESS ACCUMULATED DEPRECIATION
(36,852,268)
(24,489,598)
TOTAL FIXED ASSETS, NET
44,295,727
24,590,857
INTANGIBLE ASSETS
POWER AGENCY MEMBERSHIP BUY -IN
21,546,212
0
LOSS OF REVENUE INTANGIBLE
6,223,278
0
LESS ACCUMULATED AMORTIZATION
(4,174,694)
0
TOTAL INTANGIBLE ASSETS, NET
23,594,796
0
OTHER ASSETS AND DEFERRED OUTFLOWS
690,058
126,311
TOTAL ASSETS
89,577,584
41,432,660
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
4,558,327
452,009
SALARIES AND BENEFITS PAYABLE
878,182
129,806
DUE TO CITY
1,027,238
149,746
DUE TO OTHER FUNDS
(112,881)
112,881
NOTES PAYABLE -CURRENT PORTION
0
0
BONDS PAYABLE -CURRENT PORTION
990,000
65,000
UNEARNED REVENUE
4,305
459,500
TOTAL CURRENT LIABILITIES
7,345,170
1,368,942
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
27,210,400
1,490,295
PENSION LIABILITIES
2,720,477
500,450
TOTAL LONG TERM LIABILITIES
29,930,877
1,990,745
TOTAL LIABILITIES
37,276,047
3,359,687
DEFERRED INFLOWS OF RESOURCES
836,813
4,937,984
FUND EQUITY
CAPITAL ACCOUNT CONST COST
1,779,016
0
CONTRIBUTED CAPITAL
0
0
RETAINED EARNINGS
46,802,217
33,120,013
NET INCOME (LOSS) (THROUGH PREVIOUS MONTH)
2,883,492
14,977
TOTAL FUND EQUITY
51,464,724
33,134,990
TOTAL LIABILITIES & FUND EQUITY
89,577,584
41,432,660