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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2008 AND 2007
<br />Note 2: DETAILED NOTES ON ALL FUNDS -CONTINUED
<br />B. Capital Assets
<br />Electric fund capital asset activity for the year ended December 31, 2008 was as follows:
<br /> Beginning Prior Period Ending
<br /> Balance Adjustments Increases Decreases Balance
<br />Capital assets not
<br />being depreciated
<br />Land $ 200,236 $ - $ - $ 200,236
<br />Construction in progress 1,586,925 - - (1,442,426) 144,499
<br />Total capital assets
<br />not being depreciated 1,787,161 - - (1,442,426) 344,735
<br />Capital assets being depreciated
<br />Land improvements 63,147 - - - 63,147
<br />Buildings 2,716,260 - 9,081 - 2,725,341
<br />Machinery and equipment 3,580,644 - 203,207 - 3,783,851
<br />Infrastructure 39,621,130 - 3,252,427 42,873,557
<br />Total capital assets
<br />being depreciated 45,981,181 3,464,715 49,445,896
<br />Less accumulated
<br />depreciation for
<br />Land improvements (34,146) - (2,526) - (36,672)
<br />Buildings (685,034) - (93,718) - (778,752)
<br />Machinery and equipment (2,436,610) - (277,045) - (2,713,655)
<br />Infrastructure (14,653,395) (108,417) (1,684,562) - (16,446,374)
<br />Total accumulated
<br />depreciation (17,809,185) (108,417) (2,057,851) - (19,975,453)
<br />Total capital assets
<br />being depreciated, net 28,171,996 (108,417) 1,406,864 - 29,470,443
<br />Business-type activities
<br />capital assets, net $ 29,959,157 $ (108,417) $ 1,406,864 $ (1,442,426) $ 29,815,178
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