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CITY OF ELK RIVER
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />YEAR ENDING DECEMBER 31, 2016
<br />In 2015, the HRA issued loans to applicants under the rehabilitation loan program. The
<br />terms of each loan vary and are payable over 5-15 years with rates from 1.25-3.25 percent.
<br />Notes receivable of $131,802 in the HRA are outstanding at December 31, 2016.
<br />NOTE 5 CAPITAL ASSETS
<br />Capital asset activity for the year ended December 31, 2016 was as follows:
<br />Beginning Ending
<br />PRIMARY GOVERNMENT Balance Additions Deletions Transfers Balance
<br />Governmental Activities:
<br />Capital Assets, Not Being Depreciated:
<br />Land
<br />Construction in Progress
<br />Total Capital Assets, Not Being Depreciated
<br />Capital Assets, Being Depreciated:
<br />Buildings
<br />Other Improvements
<br />Equipment
<br />Infrastructure
<br />Total Capital Assets, Being Depreciated
<br />Accumulated Depreciation for:
<br />Buildings
<br />Other Improvements
<br />Equipment
<br />Infrastructure
<br />Total Accumulated Depreciation
<br />Total Capital Assets, Being Depreciated, Net
<br />Governmental Activities Capital Assets, Net
<br />$ 40,876,833
<br />$ -
<br />$ - $
<br />$ 40,876,833
<br />3,602,680
<br />1,748,140
<br />(4,913,319)
<br />437,501
<br />44,479,513
<br />1,748,140
<br />(4,913,319)
<br />41,314,334
<br />45,048,097
<br />-
<br />(425,631)
<br />45,048,097
<br />5,393,304
<br />45,162
<br />$ 83,084
<br />5,438,466
<br />11,989,388
<br />1,141,093
<br />(390,632)
<br />24,250 12,764,099
<br />62,627,885
<br />4,913,319
<br />(1,430,520)
<br />- 66,110,684
<br />125,058,674
<br />6,099,574
<br />(1,821,152)
<br />24,250 129,361,346
<br />(17,196,857) (1,646,735)
<br />(3,456,239) (305,786)
<br />(8,284,603) (838,248)
<br />(40,388,769) (2,393,634)
<br />(69,326,468) (5,184,403)
<br />55,732,206 915,171
<br />$ 100,211,719 $ 2,663,311
<br />356,517
<br />1,413,743
<br />1,770,260
<br />(50,892)
<br />_L_(4,964,21 1)
<br />Accumulated Depreciation for:
<br />Buildings
<br />Equipment
<br />Collection and Distribution
<br />Total Accumulated Depreciation
<br />Total Capital Assets, Being Depreciated, Ne'
<br />Business -Type Activities Capital Assets, Net
<br />COMPONENT UNIT
<br />Capital Assets, Not Being Depreciated:
<br />Land
<br />Capital Assets, Being Depreciated:
<br />Other Improvements
<br />(10,156,734)
<br />Beginning
<br />3,246,667
<br />(2,138,248)
<br />PRIMARY GOVERNMENT
<br />Balance
<br />Increases
<br />Decreases
<br />Business -Type Activities:
<br />(63,376,638)
<br />(4,705,727)
<br />3,506,697
<br />Capital Assets, Not Being Depreciated:
<br />14,601,519
<br />(425,631)
<br />$ 93,681,707
<br />Land
<br />1,526,407
<br />$ 83,084
<br />$
<br />Intangible Assets
<br />-
<br />9,804,951
<br />Decreases
<br />Construction in Progress
<br />13,745,714
<br />3,841,023
<br />(13,871,803)
<br />Total Capital Assets, Not Being Depreciated
<br />15,272,121
<br />13,729,058
<br />(13,871,803)
<br />Capital Assets, Being Depreciated: .
<br />Buildings
<br />19,525,901
<br />8,381,453
<br />(3,543,574)
<br />Equipment
<br />4,408,461
<br />6,458,744
<br />(177,133)
<br />Collection and Distribution
<br />117,851,862
<br />4,467,049
<br />(211,621)
<br />Total Capital Assets, Being Depreciated
<br />141,786,224
<br />19,307,246
<br />(3,932,328)
<br />Accumulated Depreciation for:
<br />Buildings
<br />Equipment
<br />Collection and Distribution
<br />Total Accumulated Depreciation
<br />Total Capital Assets, Being Depreciated, Ne'
<br />Business -Type Activities Capital Assets, Net
<br />COMPONENT UNIT
<br />Capital Assets, Not Being Depreciated:
<br />Land
<br />Capital Assets, Being Depreciated:
<br />Other Improvements
<br />(10,156,734)
<br />(609,368)
<br />3,246,667
<br />(2,138,248)
<br />(341,511)
<br />155,309
<br />(51,081,656)
<br />(3,754,848)
<br />104,721
<br />(63,376,638)
<br />(4,705,727)
<br />3,506,697
<br />78,409,586
<br />14,601,519
<br />(425,631)
<br />$ 93,681,707
<br />$ 28,330,577
<br />_L 14,297,434)
<br />Beginning
<br />Balance
<br />Increases
<br />Decreases
<br />$ 257,100
<br />$ -
<br />$
<br />174,290
<br />(18,843,592)
<br />(3,762,025)
<br />(24,250) (8,790,584)
<br />- (41,368,660)
<br />(24,250) (72,764,861)
<br />56,596,485
<br />$ $ 97,910,819
<br />Ending
<br />Transfers Balance
<br />$ $ 1,609,491
<br />9,804,951
<br />3,714,934
<br />15,129,376
<br />- 24,363,780
<br />(24,250) 10,665,822
<br />122,107,290
<br />(24,250) 157,136,892
<br />(7,519,435)
<br />24,250 (2,300,200)
<br />- (54,731,783)
<br />24,250 (64,551,418)
<br />- 92,585,474
<br />$ $ 107,714,850
<br />Ending
<br />Transfers Balance
<br />$ - $ 257,100
<br />174,290
<br />Accumulated Depreciation for:
<br />Other Improvements (35,826) (11,619) (47,445)
<br />Total Capital Assets, Being Depreciated, Net 138,464 11,619 126,845
<br />Component Unit Capital Assets, Net
<br />(52)
<br />
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