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Elk River Municipal Utilities
<br />Elk River, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2022
<br />Note 2: Detailed Notes on All Funds (Continued)
<br />Future lease receivable payments are as follows:
<br />Year Ending
<br />December 31,
<br />Principal
<br />Interest
<br />Total
<br />2023
<br />$ 220,218
<br />$ 81,781
<br />$ 301,999
<br />2024
<br />235,035
<br />78,407
<br />313,442
<br />2025
<br />250,524
<br />74,806
<br />325,330
<br />2026
<br />266,714
<br />70,966
<br />337,680
<br />2027
<br />283,634
<br />66,879
<br />350,513
<br />2028 - 2032
<br />1,699,668
<br />263,565
<br />1,963,233
<br />2033 - 2037
<br />1,507,025
<br />127,261
<br />1,634,286
<br />2038 - 2042
<br />632,816
<br />34,262
<br />667,078
<br />2043 - 2045
<br />93,039
<br />2,520
<br />95,559
<br />Total
<br />$ 5,188,673
<br />$ 800,447
<br />$ 5,989,120
<br />C. Capital Assets
<br />Capital asset activity for the year ended December
<br />31, 2022 was as follows:
<br />Beginning
<br />Ending
<br />Balance
<br />Increases
<br />Decreases
<br />Balance
<br />Capital Assets not
<br />being Depreciated
<br />Land
<br />$ 858,244
<br />$ 40,340
<br />$
<br />$ 898,584
<br />Intangible
<br />25,895,865
<br />940,467
<br />26,836,332
<br />Construction in progress
<br />71243,598
<br />8,795,778
<br />(13,687,789)
<br />2,351,587
<br />Total Capital Assets
<br />not being Depreciated
<br />33,997,707
<br />9,776,585
<br />(13,687,789)
<br />30,086,503
<br />Capital Assets being Depreciated
<br />Land improvements
<br />34,081
<br />-
<br />34,081
<br />Buildings
<br />4,537,236
<br />12,381,413
<br />16,918,649
<br />Machinery and equipment
<br />4,677,490
<br />856,937
<br />(193,819)
<br />5,340,608
<br />Infrastructure
<br />95,008,180
<br />2,773,811
<br />(3,851,442)
<br />93,930,549
<br />Total Capital Assets
<br />being Depreciated
<br />104,256,987
<br />16,012,161
<br />(4,045,261)
<br />116,223,887
<br />Less Accumulated
<br />Depreciation for
<br />Intangible
<br />(2,170,287)
<br />(668,136)
<br />(2,838,423)
<br />Land improvements
<br />(21,477)
<br />(1,649)
<br />(23,126)
<br />Buildings
<br />(2,351,838)
<br />(194,015)
<br />-
<br />(2,545,853)
<br />Machinery and equipment
<br />(2,896,712)
<br />(419,518)
<br />148,068
<br />(3,168,162)
<br />Infrastructure
<br />(49,463,770)
<br />(2,896,790)
<br />3,851,442
<br />(48,509,118)
<br />Total Accumulated
<br />Depreciation
<br />(56,904,084)
<br />(4,180,108)
<br />3,999,510
<br />(57,084,682)
<br />Total Capital Assets
<br />being Depreciated, Net
<br />47,352,903
<br />11,832,053
<br />(45,751)
<br />59,139,205
<br />Business -type Activities
<br />Capital Assets, Net
<br />$ 81,350,610
<br />$ 21,608,638
<br />$ (13,733,540)
<br />$ 89,225,708
<br />37
<br />120
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