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<br />City of Elk River
<br />Management’s Discussion and Analysis
<br />GOVERNMENT-WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />Capital Asset and Debt Administration
<br />Capital Assets. The City’s investment in capital assets for its governmental and business-type
<br />activities as of December 31, 2023, amounts to $279,102,468 (net of accumulated depreciation). This
<br />investment in capital assets includes land, structures, improvements, machinery and equipment,
<br />park facilities, roads, highways and bridges.
<br />Major capital asset events during the current fiscal year included the following:
<br />Reroof of city hall, Northbound liquor store, and public safety facility
<br />Construction in progress of Rolling Hills sewer extension
<br />Purchases of vehicles
<br />Purchase of new Zamboni ice resurfacer
<br />Various street improvement projects
<br />City of Elk River’s Capital Assets
<br />(Net of Accumulated Depreciation)
<br />2023 2022
<br />Increase
<br />(Decrease)2023 2022
<br />Increase
<br />(Decrease)
<br />Land 38,838,959$ 38,838,959$ -$ 1,965,026$ 1,965,026$ -$
<br />Construction in progress 20,000 1,913,782 (1,893,782) 3,828,700 2,351,587 1,477,113
<br />Buildings 55,397,058 56,533,406 (1,136,348) 27,466,772 27,401,128 65,644
<br />Improvements other than buildings 9,006,154 9,567,471 (561,317) 142,755 158,677 (15,922)
<br />Equipment 8,370,431 7,743,980 626,451 7,186,638 7,005,001 181,637
<br />Infrastructure 32,305,395 29,530,007 2,775,388 69,985,042 68,750,797 1,234,245
<br />Intangible assets - - - 24,262,932 23,997,909
<br />Leased equipment 294,120 409,089 (114,969) 32,486 42,088 (9,602)
<br />Total 144,232,117$ 144,536,694$ (304,577)$ 134,870,351$ 131,672,213$ 2,933,115$
<br />Governmental Activities Business-Type Activities
<br />Additional information on the City’s capital assets can be found in Note 8 starting on page 73 of this
<br />report.
<br />Page 153 of 464
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