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NOTE 4 - CAPITAL ASSETS
<br />
<br />Ao Changes in Capital Assets Used in Governmental Activities
<br />
<br />Balance -
<br />Beginning
<br />of Year
<br />
<br />Adjustments (1)
<br />
<br />Additions
<br />
<br />Deletions
<br />
<br /> Balance -
<br />End of Year
<br />
<br />Capital assets, not deprecia~d
<br />Land $ 1,199,672 $ (1,990) $ 8,500 $ - $ 1,206,182
<br />Construction in progress - 222,172 6,422,561 - 6,644,733
<br />Capital assets, depreciated
<br />Buildings and structures 3,614,211 153,625 - - 3,767,836
<br />Improvements other than buildings 1,175,445 (262,311) 7,800 - 920,934
<br />Office equipment 293,837 (80,839) 8,251 (3,335) 217,914
<br />Motor vehicles 2,827,474 (89,641) 346,453 (109,073) 2,975,213
<br />Machinery and equipment 1,916,235 (422,267) 590,481 (139,421) 1,945,028
<br />Infi~astructure * - - 2,437,742 - 2,437,742
<br />Total capital assets 11,026,874 (481,251) 9,821,788 (251,829) 20,115,582
<br />Less accumulated depreciation on
<br />Buildings and structures - (760,758) (77,291) - (838,049)
<br />Improvements other than buildings - (555,306) (25,538) - (580,844)
<br />Office equipment - (135,608) (15,998) 3,335 (148,271)
<br />Motor vehicles - (1,269,849) (239,830) 109,073 (1,400,606)
<br />Machinery and equipment - (749,707) (150,248) 139,421 (760,534)
<br />Infi:astructure - - (97,702) - (97,702)
<br />Total accumulated depreciation - (3,471,228) (606,607) 251,829 (3,826,006)
<br />
<br /> Net capitalassets $ 11,026,874 $ (3,952,479) $ 9,215,181 $ - $ 16,289,576
<br />
<br />The City was not required to report governmental activity infrastructure prior to implementing GASB
<br />Statement No. 34. As allowed by GASB Statement No. 34, the City has recorded only governmental
<br />infrastructure capital assets purchased or completed in the current year at this time. The statement's
<br />transition provisions allows that governments of the third tier to not retroactively restate prior periods.
<br />
<br />B. Changes in Capital Assets Used in Business-Type Activities
<br />
<br />Balance -
<br />Beginning Balance -
<br />of Year Adjustments (1) Additions Deletions End of Year
<br />
<br />Capital assets, not depreciated
<br /> Land
<br /> Construction in progress
<br />Capital assets, depreciated
<br /> Buildings and structures
<br /> Improvements other than buildings
<br /> Machinery and equipment
<br /> Water and sewer lines
<br /> Total capital assets
<br />Less accumulated depreciation on
<br /> Buildings and structures
<br /> Improvements other than buildings
<br /> Machinery and equipment
<br /> Water and sewer lines
<br /> Total accumulated depreciation
<br />
<br />Net capital assets
<br />
<br />$ 100,000 $ - $ - $ - $ 100,000
<br />- - 54,941 - 54,941
<br />
<br /> 2,554,881 (45,193) - - 2,509,688
<br /> 4,349,360 - 1,739,724 - 6,089,084
<br /> 158,031 3,926 - - 161,957
<br /> 23,679,922 41,267 4,242,636 - 27,963,825
<br />
<br /> 30,842,194 - 6,037,301 - 36,879,495
<br />
<br /> - (301,315) (50,308) - (351,623)
<br /> (280,076) (464) (132,773) - (413,313)
<br /> - (76,361 ) (7,558) - (83,919)
<br /> (4,186,987) 378,140 (557,573) - (4,366,420)
<br /> (4,467,063) - (748,212) - (5,215,275)
<br />
<br />$ 26,375,131 $ - $ 5~289,089 $ - $ 31,664~220
<br />
<br />(1) The adjustments listed above were necessary to remove assets less than the capitalization threshold
<br /> and to re-class assets by type. Also, as part of adopting GASB Statement No. 34, adjustments were
<br /> made to record prior period construction in progress of $222,172 on infrastructure assets that were
<br /> completed this year or that will be completed in future years, and to recognize accumulated
<br /> depreciation of $3,471,228 on capital assets used in governmental activities through the previous
<br /> year-end~
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<br />-381
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