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CITY OF RAMSEY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1996
<br />Note 4. CHANGES IN FIXED ASSETS
<br />A. Changes in General Fixed Assets
<br />Changes in the General Fixed Assets Account Group were as follows:
<br />Land
<br />Buildings and
<br />improvements
<br />Improvements other
<br />than buildings
<br />Office equipment
<br />Motor vehicles
<br />Machinery and
<br />equipment
<br />Balance Balance
<br />1/1/96. Additions Deletions 12/31/96
<br />$ 396,597 $ - $ - $ 396,597
<br />1,514,207 578,311 - 2,092,518
<br />627,903 4,015 - 631,918
<br />375,960 25,342 (6,757) 394,545
<br />1,178,570 122,960 (14,459) 1,287,071
<br />806,157 57,407 (749) 862,815
<br />$ 4,899,394 $ 788,035 $ 21,965 $ 5,665,464
<br />B. Fnterprise Fund Fixed Assets
<br />Enterprise Fund fixed assets at December 31, 1996, were as follows:
<br />Buildings and structures
<br />Machinery and equipment
<br />Water and sewer lines
<br />Improvements other than buildings
<br />Less accumulated depreciation
<br />Net Property and Equipment
<br />Note 5. LONG-TERM OBLIGATIONS
<br />A. ,~m~onents of Long-Term Debt
<br />$ 748,631
<br />48,199
<br />12,864,336
<br />139,490
<br />13,800,656
<br />1,397,743
<br />$ 12,402,913
<br />Debt service expenditures for the long-term portion of compensated absences are recorded in the General Fund
<br />and the Economic Development Authority Fund. All other long-term debt obligations are supported by ad
<br />valorem property taxes, tax increments and special assessments and are accounted for in the Debt Service Funds.
<br />The long-term debt obligations outstanding at year-end are summarized. as follows:
<br />Maturities
<br />General Obligation -
<br />Tax increment bonds 1997-2010
<br />Special assessment bonds 1997-2001
<br />Compensated absences
<br />Rates
<br />3.10 - 9.75%
<br />4.15 - 6.40%
<br />Balance
<br />12/31/96
<br />$ 5,315,000
<br />215,000
<br />192,752
<br />$ 5,722,752
<br />-19-
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