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City of Elk River
<br />Notes to Basic Financial Statements
<br />NOTE 8 — CAPITAL ASSETS
<br />Capital asset activity for the year ended December 31, 2022, was as follows:
<br />Primary Government
<br />Beginning
<br />Ending
<br />Balance
<br />Increases
<br />Decreases
<br />Balance
<br />Governmental activities
<br />Capital assets not being depreciated
<br />Land
<br />$ 38,802,663
<br />$ 36,296
<br />$ -
<br />$ 38,838,959
<br />Construction in progress
<br />16,442,587
<br />2,648,123
<br />17,176,928
<br />1,913,782
<br />Total capital assets
<br />not being depreciated
<br />55,245,250
<br />2,684,419
<br />17,176,928
<br />40,752,741
<br />Other capital assets
<br />Buildings
<br />68,613,007
<br />13,555,854
<br />1,989,200
<br />80,179,661
<br />Other Improvements
<br />10,808,095
<br />4,280,008
<br />43,645
<br />15,044,458
<br />Equipment
<br />16,371,053
<br />2,495,046
<br />348,364
<br />18,517,735
<br />Infrastructure
<br />74,076,919
<br />4,813,851
<br />137,556
<br />78,753,214
<br />Leased equipment
<br />-
<br />518,603
<br />8,576
<br />510,027
<br />Total other capital assets
<br />at historical cost
<br />169,869,074
<br />25,663,362
<br />2,527,341
<br />193,005,095
<br />Less accumulated depreciation for
<br />Buildings
<br />23,053,463
<br />2,574,419
<br />1,981,627
<br />23,646,255
<br />Other Improvements
<br />4,891,118
<br />629,514
<br />43,645
<br />5,476,987
<br />Equipment
<br />9,873,834
<br />1,248,285
<br />348,364
<br />10,773,755
<br />Infrastructure
<br />46,654,305
<br />2,638,942
<br />70,040
<br />49,223,207
<br />Less accumulated amortization for
<br />Leased equipment
<br />-
<br />109,514
<br />8,576
<br />100,938
<br />Total accumulated
<br />depreciation and amortization
<br />84,472,720
<br />7,200,674
<br />2,452,252
<br />89,221,142
<br />Total other capital
<br />assets, net
<br />85,396,354
<br />18,462,688
<br />75,089
<br />103,783,953
<br />Governmental activities capital
<br />assets, net
<br />$ 140,641,604
<br />$ 21,147,107
<br />$ 17,252,017
<br />$ 144,536,694
<br />Depreciation and amortization expense was charged to functions/programs of the governmental
<br />activities as follows:
<br />Governmental activities
<br />General government $ 305,036
<br />Public safety 1,227,923
<br />Public works 3,312,201
<br />Culture and recreation 2,355,514
<br />Total depreciation expense - governmental activities $ 7,200,674
<br />70
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