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The COR (formerly known as Ramsey Town Center) Streetscape Fund — This Capital Project Fund was
<br />created to account for all costs related to streetscape improvements in The COR project area. Streetscape
<br />improvements were completed in 2010.
<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 net
<br />asset balance of $75,345,808 at December 31, 2010. The financial activities of these funds have been
<br />summarized in previous charts within this discussion.
<br />The Enterprise Funds consist of the Water Utility Fund, Sewer Utility Fund, Street Light Utility Fund,
<br />Recycling Utility Fund, and Storm Water Utility Fund. The growth in the assets reflect the ongoing expansion
<br />and provision of services to the various service areas of the utilities.
<br />Capital Assets — The City's investment in capital assets (net of accumulated depreciation) for its governmental
<br />and business -type activities as of December 31, 2010 are as follows:
<br />Depreciation expense
<br />2010
<br />Governmental Business -Type
<br />Activities Activities Totals
<br />ZQQ$ 29.19 2009 Z919 ZQQ$
<br />Land 6,772,024 $ 5,604,199 868,513 $ 868,513 $ 7,640,537 $ 6,472,712
<br />Buildings and structures 25,748,276 25,621,905 2,509,688 2,509,688 28,257,964 28,131,593
<br />Improvements other than buildings 4,077,621 3,704,005 10,837,169 10,335,587 14,914,790 14,039,592
<br />Office equipment 691,719 691,719 — — 691,719 691,719
<br />Motor vehicles 3,816,420 3,747,808 — — 3,816,420 3,747,808
<br />Machinery and equipment 4,739,350 4,699,886 536,395 549,040 5,275,745 5,248,926
<br />Infrastructure 22,459,019 22,766,439 — — 22,459,019 22,766,439
<br />Water and sewer lines — — 45,284,740 44,969,992 45,284,740 44,969,992
<br />Construction in progress 3,959,865 1,734,289 3,803,277 2,729,646 7,763,142 4,463,935
<br />72,264,294 68,570,250 63,839,782 61,962,466 136,104,076 130,532,716
<br />Less accumulated depreciation 12,432,482 10,408,281 11,339,733 10,139,104 23,772,215 20,547,385
<br />Total capital assets, net of depreciation $ 59,831,812 $ 58,161,969 $ 52,500,049 $ 51,823,362 $ 112,331,861 $ 109,985,331
<br />$ 2,155,186 $ 2,276,358 $ 1,213,274 $ 1,198,172 $ 3,368,460 $ 3,474,530
<br />The City's investment in capital assets for its governmental and business -type activities as of December 31,
<br />2010 amounts to over $112 million (net of accumulated depreciation).
<br />The governmental activities show an increase of approximately $1.7 million in capital assets. This increase is
<br />attributable to the construction of The Draw Park in The COR (formerly known as Ramsey Town Center). The
<br />nearly $700,000 increase in business -type activities is attributable to the construction of a third water tower for
<br />the City. This remains in construction in progress, with an estimated completion date in spring 2011.
<br />Additional details of capital asset activity for the year can be found in Note 4 of the notes to basic financial
<br />statements.
<br />Long -Term Liabilities — The Debt Service Funds account for the accumulation of resources to finance all of
<br />the City's general obligation bonds. The revenue sources for these funds include annual tax levies and special
<br />assessments. At year -end, the total fund balance of these funds was $2,524,951.
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