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<br />Public Improvement Revolving Ramsey Town Center - This Capital Project Fund reported a fund
<br />balance of $476,941. The decrease in fund balance represents the financing of a portion of the
<br />infrastructure costs in the Ramsey Town Center project area.
<br />
<br />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 were substantially
<br />completed in 2009. The City transferred $1,583,185 into the Housing Redevelopment Authority fund to
<br />help finance the purchase of the RTC land.
<br />
<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 $73,456,372 at December 31,2009. The financial activities of these funds have been
<br />summarized in previous charts within this discussion.
<br />
<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 />
<br />Capital Assets - The City's investment III capital assets (net of accumulated depreciation) for its
<br />governmental and business-type activities as of December 31, 2009 are as follows:
<br /> Governmental Business-Type
<br /> A ctiv it ies Activities Totals
<br /> 2009 2008 2009 2008 2009 2008
<br />Land $ 5,604,199 $ 5,552,293 $ 868,513 $ lOO,<XXJ $ 6,472,712 $ 5,652,293
<br />Buildings and structures 25,621,905 25,621,905 2,509,688 2,509,688 28,131,593 28,131,593
<br />Improvements other than buildings 3,704,005 3,493,451 10,335,587 9,583,088 14,039,592 13,076,539
<br />Office equipment 691,719 709,044 691,719 709,044
<br />Motor vehicles 3,747,808 3,880,100 3,747,808 3,880,100
<br />Machinery and equipment 4,699,886 4,945,480 549,04D 544,323 5,248,926 5,489,803
<br />Infrastructure 22,766,439 19,239,052 22,766,439 19,239,052
<br />Water and sewer lines 44,969,992 36,349,532 44,969,992 36,349,532
<br />Construction in progress 1,734,289 1,260,543 2,729,646 9,209,532 4,463,935 10,470,075
<br /> 68,570,250 64,701,868 61,962,466 58,296,163 130,532,716 122,998,031
<br />Less accumulated depreciation 10,408,281 8,651,392 10,139,104 8,940,932 20,547,385 17,592,324
<br />Total capital assets, net of depreciation $ 58,161,969 $ 56,050,476 $ 51,823,362 $ 49,355,231 $ 109,985,331 $ 105,405,707
<br />Depreciation expense $ 2,276,358 $ 2,133,570 $ 1,198,172 $ 1,01 0,889 $ 3,474,530 $ 3,144,459
<br />
<br />The City's investment in capital assets for its governmental and business-type activities as of
<br />December 31, 2009 amounts to nearly $110 million (net of accumulated depreciation).
<br />
<br />The governmental activities show an increase of approximately $2.1 million for the construction of
<br />Sunfish Lake Boulevard. The nearly $2.5 million increase in business-type activities is attributable to the
<br />construction and related land purchase for a third water tower for the City. This remains in construction
<br />in progress, with an estimated completion date in 2010.
<br />
<br />Additional details of capital asset activity for the year can be found in Note 4 of the notes to basic
<br />financial statements.
<br />
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