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Equipment Revolving Fund — This Capital Project Fund reported ayear-end fund balance of $1,673,000 which
<br />represented a $272,183 decrease in fund balance due to a 50% share of the 2017 capital equipment purchases as
<br />outlined in the 2017 General Fund adopted budget.
<br />Road Reconstruction/Overlay Fund — This capital project fund increased overall fund balance $66,090.
<br />The increase is attributable to funds received from bond proceeds and other sources to be used for the
<br />reconstruction and overlay projects as outlined in the City's Long -Term Street Maintenance Plan.
<br />Public Facilities Construction Fund — This Capital Project Fund had a year-end fund balance of $964,900, or
<br />a decrease of $21,270 which was mostly attributed to expenditures to demolish the old city hall/police building.
<br />Fire Station #2 Fund — This Capital Project Fund was created to fund the construction of the City's second fire
<br />station. Remaining bond proceeds are being used to reduce debt service. The fund balance at year end 2017
<br />was $74,822.
<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 />position balance of $92,162,136 at December 31, 2017. The City's Internal Service Fund had an ending net
<br />position of $497,361. The financial activities of these funds have been summarized in previous charts within
<br />this discussion.
<br />The Enterprise Funds consist of the Water Utility Fund, Sewer Utility Fund, Street Light Utility Fund, Recycling
<br />Utility Fund, and Storm Water Utility Fund. The growth in net position reflects the ongoing expansion and
<br />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, 2017 are as follows:
<br />Governmental Bus mes s-Type
<br />Activities Activities Totals
<br />2017 2016 2017 2016 2017 2016
<br />Land $ 6,848,022 $ 6,848,022 $ 868,513 $ 868,513 $ 7,716,535 $ 7,716,535
<br />Construction in progress 1,615,891 2,369,983 1,214,149 597,780 2,830,040 2,967,763
<br />Buildmgs and structures 29,402,849 30,685,842 6,058,847 6,058,847 35,461,696 36,744,689
<br />Improvements other than buildings 11,089,703 11,385,776 15,744,605 14,554,985 26,834,308 25,940,761
<br />Office equipment 668,396 657,196 - - 668,396 657,196
<br />Motor vehicles 3,968,685 3,832,880 - - 3,968,685 3,832,880
<br />Machinery and equipment 6,635,538 6,336,603 834,318 834,318 7,469,856 7,170,921
<br />Infrastructure 36,965,046 33,733,257 - - 36,965,046 33,733,257
<br />Water and sewer lines - - 50,097,118 48,495,448 50,097,118 48,495,448
<br />97,194,130 95,849,559 74,817,550 71,409,891 172,011,680 167,259,450
<br />Less accumulated depreciation 30,279,339 27,968,849 20,962,265 19,450,297 51,241,604 47,419,146
<br />Totalcaptalassets,net of depreciation $ 66,914,791 $ 67,880,710 $ 53,855,285 $ 51,959,594 $ 120,770,076 $ 119,840,304
<br />Depreciation expense $ 3,335,799 $ 3,181,236 $ L51L968 $ 1,463,213 $ 4,847,767 $ 4,644,449
<br />The City's investment in capital assets for its governmental and business -type activities as of December 31, 2017
<br />amounts to approximately $121 million (net of accumulated depreciation).
<br />The governmental activities show a decrease of $965,919 in capital assets attributable to the demolition of the
<br />old city hall. Business -type activities show an increase of $1,895,691 in capital assets. The increase is
<br />attributable to developer contributions to the City's utility system as part of their private developments.
<br />Additional details of capital asset activity for the year can be found in Note 4 of the notes to basic financial
<br />statements.
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