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NOTE 5 — LONG-TERM DEBT (CONTINUED)
<br />C. Changes in Long -Term Debt
<br />Governmental activities
<br />G.O. Innproveuent Bonds
<br />Capital Equipment Certificates
<br />Unannortized bond premiums
<br />Compensated absences payable
<br />Net pension liability
<br />Total OPEB liability
<br />Total governmental activities
<br />Business type Activities
<br />Net pension liability
<br />Balance -
<br />Beginning Balance — Due Within
<br />of Year Additions Deletions End of Year One Year
<br />$ 28325,000 $ 9.845,000 $ 12.285,000 $ 25,885,000 $ 1.755,000
<br />575,000 155,000 420.000 160.000
<br />809.201 13.487 795,714
<br />1.093.863 741.485 722.299 1.113.049 723.482
<br />6.043.916 6,546.629 8.462.084 4.128.461 461.540 110.905 9,111 563,334
<br />36.499.319 18.053,220 21.646.981 32.905,558 2.638.482
<br />509,015 417.313 531,098 395,230
<br />Total governmental and business
<br />type activities $ 37.008334 $ 18.47OS33 $ 22.178.079 $ 33300.788 $ 2.638.482
<br />D. Minimum Debt Payments
<br />Minimum annual principal and interest payments required to retire bonds and capital equipment certificates
<br />are as follows:
<br />Year Ending
<br />D eceinber 31,
<br />2022
<br />2023
<br />2024
<br />2025
<br />2026
<br />2027-203 1
<br />2032-2036
<br />2037-2041
<br />Governmental Activities
<br />Bonded and Capital Equipment Certificate Debt
<br />Principal Interest
<br />1,915,000
<br />2,010,000
<br />2,010,000
<br />1,975,000
<br />1,575,000
<br />6,775,000
<br />5,370,000
<br />4,675,000
<br />616,201
<br />526,875
<br />474,977
<br />421,757
<br />368,565
<br />1,243,275
<br />602,068
<br />224,160
<br />$ 26,305,000 $ 4,477,878
<br />NOTE 6 — NET INVESTMENT IN CAPITAL ASSETS
<br />A. Net Investment in Capital Assets
<br />The government -wide statement of net position at December 31, 2021 includes the City's net investment
<br />in capital assets calculated as follows:
<br />Governmental Business -Type
<br />Activities Activities
<br />Total
<br />Net investment in capital assets:
<br />Capital assets
<br />Not depreciated $ 7,800,527 $ 1,740,097 $ 9,540,624
<br />Depreciated 76,405,000 56,274,411 132,679,411
<br />Less capital -related long-term debt outstanding (25,900,714) — (25,900,714)
<br />Less capital -related accounts, contracts,
<br />and retainage payables (982,809) (74,066) (1,056,875)
<br />Total net investments in capital assets $ 57,322,004 $ 57,940,442 $ 115,262,446
<br />77
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