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RTC Streetscape Fund — This Capital Project Fund was created to account for all costs related to
<br />streetscape improvements in the Ramsey Town Center area, Streetscape improvements constructed in
<br />2008 were funded by a $3 million dollar Letter of Credit.
<br />Proprietary Funds — The City's Proprietary Funds provide the same type of information found in the
<br />government-wide financial statements, but in more detail. The City's Enterprise Funds had a combined
<br />net asset balance of $71,880,428 at December 31, 2008. The financial activities of these funds have been
<br />summarized in previous charts within this discussion.
<br />The Enterprise Funds consist of the Water Utility Fund, Sewer Utility Fund, Street Light Utility Fund,
<br />Recycling Utility Fund, and Storm Water Utility Fund. The growth in the assets, indicated in the above
<br />paragraph, reflect the ongoing expansion and provision of services to the various service areas of the
<br />utilities.
<br />Capital Assets — The City's investment in capital assets (net of accumulated depreciation) for its
<br />governmental and business-type activities as of December 31, 2008 are as follows:
<br />Land
<br />Buildings and structures
<br />Improvements other than buildings
<br />Office equipment
<br />Motor vehicles
<br />Machinery and equipment
<br />Infrastructure
<br />Water and sewer linos
<br />Construction in progress
<br />Less accumulated depreciation
<br />Governmental
<br />Activities
<br />2008 2007
<br />Total capital assets, net of depreciation $ 56,050,476 $
<br />Depreciation expense
<br />$ 2,133,570 $ L907,854 $
<br />$ 5,552,293 8 3,446,349 $ 100,000
<br />25,621,905 25,159,675 2,509,688
<br />3,493,451 3,326,451 9,583,088
<br />709,044 709,044
<br />3,880,100 3,311,998
<br />4,945,480 4,877,192 544,323
<br />19,239,052 15,492,788
<br />36,349,532
<br />1,260,543 4,458,221 9,209,532
<br />64,701,868 60,781,718 58,296,163
<br />8,651,392 6,693,451 8,940,931
<br />Business-Type
<br />Activities
<br />2007
<br />$ 100,000
<br />2,509,688
<br />9,497,064
<br />210,563
<br />35,496,946
<br />9,298,436
<br />57,112,697
<br />7,939,639
<br />54,088,267 $ 49,355,232 $ 49,173,058
<br />- 10 -
<br />$ 105, ,405 708
<br />1,010,889 8 976,388 $ 3,144,459
<br />Totals
<br />2008 220/
<br />$ 5,652,293 $ 3,546,349
<br />28,131,593 27,669,363
<br />13,076,539 12,823,515
<br />709,044 709,044
<br />3,880,100 3,311,998
<br />5,489,803 5,087,755
<br />19,239,052 15,492,788
<br />36,349,532 35,496,946
<br />10,470,075 13,756,657
<br />122,998,031 117,894,415
<br />17,592,323 14,633,090
<br />$ 103,261,325
<br />$ 2,884,242
<br />The City's investment in capital assets for its governmental and business-type activities as of
<br />December 31, 2008 amounts to $105.4 million (net of accumulated depreciation).
<br />The governmental activities show an increase of nearly $2 million. The City purchased land with the
<br />intent to use this as a future public works facility site. Final completion of two wells and a storm sewer
<br />account for the nearly $200,000 increase in business-type activities.
<br />Additional details of capital asset activity for the year can be found in Note 4 of the notes to basic
<br />financial statements.
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