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NOTE 6 — LONG-TERM DEBT (CONTINUED)
<br />C. Changes in Long -Term Debt
<br />I3alan -
<br />Bcginn ng 13alancc — Doc Within
<br />ofYear Additions Deletions End of Zear One Year
<br />trio. ommcntal actis hies
<br />G.O. Improvement Eloncts $ 25,885,000 $ 10.765.000 $ 1,755.000 $ 34.895.000 $ 2,330,000
<br />Capital Lquipment Certificates 420.000 160.000 260,000 165,000
<br />Unainorti,cd bond prctniatns 795.714 1,240,343 84.363 1,951,694 —
<br />Conlpensatect absences payable 1,113,049 631,055 674.178 1.069.926 695,542
<br />Net pens ion liability 4,128.461 12,044,076 916.442 15.256.095
<br />"Total OPE6liability 563,334 239,917 6,965 796,286
<br />"Total governmental activities 32.905558 24,920,391 3,596.948 54,229,001 3,190,542
<br />.1ositt ss type Activities
<br />Not pension liability 395.230 380,964 59.827 716,367
<br />"Total governmental and business
<br />t) pc acti. hies $ '13.300 788
<br />D. Minimum Debt Payments
<br />$ 25,301,355 $ 3,656.775
<br />$ 54,945,368 $ 3,190,542
<br />Minimum annual principal and interest payments required to retire bonds and capital equipment certificates
<br />are as follows:
<br />Year Ending
<br />December 31,
<br />2023
<br />2024
<br />2025
<br />2026
<br />2027
<br />2028-2032
<br />2033-2037
<br />2038-2041
<br />Governmental Activities
<br />Bonded and Capital Equipment Certificate Debt
<br />Principal Interest
<br />$
<br />2,495,000
<br />2,535,000
<br />2,525,000
<br />2,155,000
<br />2,045,000
<br />9,955,000
<br />9,675,000
<br />3,770,000
<br />$
<br />1,078,581
<br />988,978
<br />909,508
<br />828,815
<br />755,765
<br />2,743,425
<br />1,215,487
<br />152,075
<br />35, 155,000 $
<br />8,672,634
<br />NOTE 7 — NET INVESTMENT IN CAPITAL ASSETS
<br />A. Net Investment in Capital Assets
<br />The government -wide statement of net position at December 31, 2022 includes the City's net investment
<br />in capital assets calculated as follows:
<br />Net investment in capital assets:
<br />Capital assets
<br />Not depreciated
<br />Depreciated
<br />Less capital -related long-term debt outstanding -
<br />adiustcd for unspent proceeds
<br />Less capital -related accounts, contracts,
<br />and retanagc payables
<br />(4o v erntnernal 13u s inc s s-Type
<br />A ct iv it isa
<br />Activities Total
<br />$ 10,772,232 $ 2,329,071 $ 13,101,303
<br />77,499,164 61,157,637 138,656,801
<br />(24,291 ,934) (24,291 ,934)
<br />(183,341) (183,341)
<br />Total net investments iti capital assets $ 63,796,121
<br />$ 63,486,708 $ 127,282,829
<br />79
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