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CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2011
<br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED
<br />D. Capital Assets
<br />In accordance with GAS13 Statement No. 34, the City has reported all capital assets including infrastructure in the
<br />government -wide statement of net assets. Capital asset activity for the year ended December 31, 2011 was as follows:
<br />48
<br />Beginning
<br />Ending
<br />Primary Government
<br />Balance
<br />Additions
<br />Deletions
<br />Balance
<br />Governmental activities:
<br />Capital assets not being depreciated:
<br />Land
<br />$ 37,469,632
<br />$ 225,000
<br />$ -
<br />$ 37,694,632
<br />Construction in progress
<br />-
<br />2,180,426
<br />2,180,426
<br />Total capital assets
<br />not being depreciated
<br />37,469,632
<br />2,405,426
<br />39,875,058
<br />Capital assets being depreciated:
<br />Buildings
<br />36,233,521
<br />35,463
<br />-
<br />36,268,984
<br />Other improvements
<br />4,642,152
<br />78,505
<br />-
<br />4,720,657
<br />Equipment
<br />9,946,062
<br />640,533
<br />(276,426)
<br />10,310,169
<br />Infrastructure
<br />75,128,542
<br />75,128,542
<br />Total capital assets
<br />being depreciated
<br />125,950,277
<br />754,501
<br />(276,426)
<br />126,428,352
<br />Less accumulated depreciation for:
<br />Buildings
<br />9,742,063
<br />1,375,847
<br />11,117,910
<br />Other improvements
<br />2,111,427
<br />301,876
<br />2,413,303
<br />Equipment
<br />6,146,132
<br />857,193
<br />(230,231)
<br />6,773,094
<br />Infrastructure
<br />33,399,799
<br />2,997,784
<br />36,397,583
<br />Total accumulated depreciation
<br />51,399,421
<br />5,532,700
<br />(230,231)
<br />56,701,890
<br />Total capital assets
<br />being depreciated, net
<br />74,550,856
<br />(4,778,199)
<br />(46,195)
<br />69,726,462
<br />Governmental activities
<br />capital assets, net
<br />$ 112,020,488
<br />$ (2,372,773)
<br />$ (46,195)
<br />$ 109,601,520
<br />Business -type activities:
<br />Capital assets not being depreciated:
<br />Land
<br />$ 1,516,631
<br />$ -
<br />$ -
<br />$ 1,516,631
<br />Construction in progress
<br />418,985
<br />965,332
<br />(1,178,591)
<br />205,726
<br />Total capital assets
<br />not being depreciated
<br />1,935,616
<br />965,332
<br />(1,178,591)
<br />1,722,357
<br />Capital assets being depreciated:
<br />Buildings
<br />19,342,790
<br />-
<br />-
<br />19,342,790
<br />Equipment
<br />4,752,351
<br />462,816
<br />(84,778)
<br />5,130,389
<br />Collection and distribution
<br />99,071,720
<br />1,985,915
<br />-
<br />101,057,635
<br />Total capital assets
<br />being depreciated
<br />123,166,861
<br />2,448,731
<br />(84,778)
<br />125,530,814
<br />Less accumulated depreciation for:
<br />Buildings
<br />7,052,539
<br />647,848
<br />7,700,387
<br />Equipment
<br />3,569,911
<br />277,579
<br />(26,493)
<br />3,820,997
<br />Collection and distribution
<br />38,092,375
<br />3,212,660
<br />41,305,035
<br />Total accumulated depreciation
<br />48,714,825
<br />4,138,087
<br />(26,493)
<br />52,826,419
<br />Total capital assets
<br />being depreciated, net
<br />74,452,036
<br />(1,689,356)
<br />(58,285)
<br />72,704;395
<br />Business -type activities
<br />capital assets, net
<br />$ 76,387,652
<br />$ (724,024)
<br />$ (1,236,876)
<br />$ 74,426,752
<br />48
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