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Capital Assets and Debt Administration
<br /> Capital assets. The Utilities' investment in capital assets for its business-type activities as of December 31,2015 amounts to
<br /> $48,151,150(net of accumulated depreciation). This investment in capital assets includes land,buildings,improvements and
<br /> equipment. A table summarizing the balances by fund follows:
<br /> Increase
<br /> 2015 2014 (Decrease)
<br /> Land $ 361,351 $ 361,303 $ 48
<br /> Land improvements 8,000 8,936 (936)
<br /> Buildings 2,015,126 2,096,195 (81,069)
<br /> Machinery and equipment 1,626,892 1,582,080 44,812
<br /> Infrastructure 43,949,775 43,389,804 559,971
<br /> Construction in progress 190,006 815,710 (625,704)
<br /> Total $ 48,151,150 $ 48,254,028 $ (102,878)
<br /> The total decrease in the Utilities' investment in capital assets for the current fiscal year was 0.2 percent.
<br /> Major capital asset events during the current fiscal year included the following:
<br /> • The Electric Department acquired additional territory that included approximately 1,000 customers,increasing Infrastructure.
<br /> • Construction in progress decreased as projects started in the prior year were completed and there were not as many carryover
<br /> projects for 2015.
<br /> Additional information on the Utilities'capital assets can be found in Note 2B starting on page 34 of this report.
<br /> Long-term debt. At year end,the Utilities had$7,369,182 in long-term debt down from$8,460,327 in fiscal 2014. More detailed
<br /> information about the Utilities' long-term liabilities can be found in Note 2C starting on page 35 and below:
<br /> Increase
<br /> 2015 2014 (Decrease)
<br /> G.O.revenue bonds $ 2,535,000 $ 2,835,000 $ (300,000)
<br /> Revenue bonds 2,985,000 3,585,000 (600,000)
<br /> Unamortized premium on bonds 65,234 83,233 (17,999)
<br /> Promissory note 1,408,368 1,599,876 (191,508)
<br /> Compensated absences payable 312,539 302,286 10,253
<br /> OPEB liability 63,041 54,932 8,109
<br /> Total $ 7,369,182 $ 8,460,327 $ (1,091,145)
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