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<br />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 , 2024, was as follows:
<br />Primary Government
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental activities
<br />Capital assets not being depreciated
<br />Land 38,838,959$ 135,600$ 25,908$ 38,948,651$
<br />Construction in progress 20,000 279,347 - 299,347
<br />Total capital assets
<br /> not being depreciated 38,858,959 414,947 25,908 39,247,998
<br />Other capital assets
<br />Buildings 81,818,173 30,690 - 81,848,863
<br />Other improvements 15,175,353 1,144,654 - 16,320,007
<br />Equipment 19,798,937 2,249,067 480,482 21,567,522
<br />Infrastructure 82,670,355 1,137,294 - 83,807,649
<br />Equipment lease asset 507,518 132,029 160,724 478,823
<br />Total other capital assets
<br /> at historical cost 199,970,336 4,693,734 641,206 204,022,864
<br />Less accumulated depreciation for
<br />Buildings 26,421,115 2,842,429 - 29,263,544
<br />Other improvements 6,169,199 685,323 - 6,854,522
<br />Equipment 11,428,506 1,417,464 470,563 12,375,407
<br />Infrastructure 50,364,960 2,640,828 - 53,005,788
<br />Less accumulated amortization for
<br />Equipment lease asset 213,398 112,759 78,755 247,402
<br />Total accumulated
<br /> depreciation and amortization 94,597,178 7,698,803 549,318 101,746,663
<br />Total other capital
<br /> assets, net 105,373,158 (3,005,069) 91,888 102,276,201
<br />Governmental activities capital
<br /> assets, net 144,232,117$ (2,590,122)$ 117,796$ 141,524,199$
<br />Depreciation and amortization expense was charged to functions/programs of the governmental
<br />activities as follows:
<br />Governmental activities
<br />General government 363,641$
<br />Public safety 1,431,181
<br />Public works 3,404,679
<br />Culture and recreation 2,499,302
<br />Total depreciation and amortization expense - governmental activities 7,698,803$
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