|
<br />32
<br />City of Elk River
<br />Management’s Discussion and Analysis
<br />
<br />
<br />GOVERNMENT-WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />
<br />Capital Asset and Debt Administration
<br />
<br />Capital Assets. The City’s investment in capital assets for its governmental and business-type
<br />activities as of December 31, 2024, amounts to $279,300,984 (net of accumulated depreciation). This
<br />investment in capital assets includes land, structures, improvements, machinery and equipment,
<br />park facilities, roads, highways and bridges.
<br />
<br />Major capital asset events during the current fiscal year included the following:
<br />
<br />• New playgrounds at Lion John Weicht Park and Trott Brook Park
<br />• Trail improvements
<br />• Fire training equipment including a live burn trailer
<br />• Completion of Rolling Hills sewer extension
<br />• Purchases of vehicles and equipment
<br />
<br />City of Elk River’s Capital Assets
<br />(Net of Accumulated Depreciation and Amortization)
<br />
<br />2024 2023
<br />Increase
<br />(Decrease)2024 2023
<br />Increase
<br />(Decrease)
<br />Land 38,948,651 38,838,959$ 109,692$ 1,965,026$ 1,965,026$ -$
<br />Construction in progress 299,347 20,000 279,347 325,998 3,828,700 (3,502,702)
<br />Buildings 52,585,319 55,397,058 (2,811,739) 27,058,988 27,466,772 (407,784)
<br />Improvements other than buildings 9,465,485 9,006,154 459,331 127,253 142,755 (15,502)
<br />Equipment 9,192,115 8,370,431 821,684 6,515,278 7,186,638 (671,360)
<br />Infrastructure 30,801,861 32,305,395 (1,503,534) 77,198,469 69,985,042 7,213,427
<br />Intangible assets - - - 24,540,931 24,262,932 277,999
<br />Equipment lease asset 231,421 294,120 (62,699) 44,842 32,486 12,356
<br />Total 141,524,199$ 144,232,117$ (2,707,918)$ 137,776,785$ 134,870,351$ 2,906,434$
<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 />
<br />Page 222 of 637
|