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' CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />' DECEMBER 31, 2007
<br />Note 3: DETAILED NOTES ON ALL FUNDS -CONTINUED
<br />D. Capital Assets
<br />' In accordance with GASB Statement No.
<br />government-wide statement of net assets. 34, the City has reported all capital assets including infrastructure in the
<br />Capital asset activity for the year ended December 31, 2007 was as follows:
<br />
<br />' Beginning Ending
<br /> Primary Government Balance Additions Deletions Balance
<br /> Governmental activities:
<br />' Capital assets not being depreciated:
<br /> Land $ 36,591,200 $ 506,184 $ (451,075) $ 36,646;309
<br /> Construction in progress 3,768,482 8,004,652 (2,868,632) 8,304.502
<br /> Total capital assets
<br /> not being depreciated 39,759,682 8,510,836 (3,3]9,707) 44,95Q,811
<br /> Capita] assets being depreciated:
<br />' Buildings 19,552,881 4,439,878 - 23,992,7>9
<br /> Other improvements 3,012,807 1,058,049 4,07Q,856
<br /> Equipment 7,9]9,200 965,150 (271,360) 8,672,990
<br /> Infrastruchtre 64,901,251 1.287,814 (132,210) 66,056,855
<br />' Total capita] assets
<br /> being depreciated 95,386,139 7.750,891 (343,570) 102.793,460
<br /> Less accumulated depreciation for:
<br />' Buildings 5,058,295 960,778 6,019,073
<br /> Other improvements 1,009,089 266,299 - 1,275,388
<br /> Equipment 4,397,359 759,858 (199,791) 4,957,426
<br /> Infrastructure 23,309,409 2,716,575 (132,210) 25,893,714
<br /> Total accumulateddepreciatioo 33,774,152 4,703,450 (332.OOt) 38,145,601
<br /> Total capital assets
<br /> being depreciated, net 61,61].987 3,047,441 (11,569) 64,647.859
<br /> Governmental activities
<br /> capital assets, net $ 101.371.669 $ 11,558,277 $(3,331,276) $ 109,598,670
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