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CITY OF LITTLE CANADA, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2015
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<br />(53)
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<br />NOTE 5 CAPITAL ASSETS
<br />A. Changes in Capital Assets Used in Governmental Activities
<br />
<br />Capital asset activity for the year ended December 31, 2015 was as follows:
<br />
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental Activities:
<br />Capital Assets, Not Being Depreciated:
<br />Land 3,377,751$ 180,957$ -$ 3,558,708$
<br />Construction in progress 5,677,866 2,329,340 (4,936,580) 3,070,626
<br />Total Capital Assets, Not Being Depreciated 9,055,617 2,510,297 (4,936,580) 6,629,334
<br />Capital Assets, Being Depreciated:
<br />Buildings and Building Improvements 3,011,409 4,202,559 - 7,213,968
<br />Other Improvements 374,126 - (1,812) 372,314
<br />Machinery and Equipment 3,810,272 830,604 (68,748) 4,572,128
<br />Streets 36,028,368 1,030,918 - 37,059,286
<br />Total Capital Assets, Being Depreciated 43,224,175 6,064,081 (70,560) 49,217,696
<br />Accumulated Depreciation for:
<br />Buildings and Building Improvements (1,674,560) (129,074) - (1,803,634)
<br />Other Improvements (117,774) (11,224) - (128,998)
<br />Machinery and Equipment (2,597,782) (110,757) (68,748) (2,639,791)
<br />Streets (20,741,313) (1,271,396) - (22,012,709)
<br />Total Accumulated Depreciation (25,131,429) (1,522,451) (68,748) (26,585,132)
<br />Total Capital Assets, Being Depreciated, Net 18,092,746 4,541,630 (1,812) 22,632,564
<br />Governmental Activities Capital Assets, Net 27,148,363$ 7,051,927$ (4,938,392)$ 29,261,898$
<br />B. Changes in Capital Assets Used in Business-Type Activities
<br />
<br />Capital asset activity for the year ended December 31, 2015 was as follows:
<br />
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Business-Type Activities:
<br />Capital Assets, Not Being Depreciated:
<br />Permanent Easements 103,301$ -$ -$ 103,301$
<br />Construction in Progress 335,565 - (325,535) 10,030
<br />Total Capital Assets, Not Being Depreciated 438,866 - (325,535) 113,331
<br />Capital Assets, Being Depreciated:
<br />Machinery and Equipment 870,035 - - 870,035
<br />Distribution and Collection System 18,001,401 426,964 - 18,428,365
<br />Total Capital Assets, Being Depreciated 18,871,436 426,964 - 19,298,400
<br />Accumulated Depreciation for:
<br />Machinery and Equipment (755,154) (14,275) - (769,429)
<br />Distribution and Collection System (9,293,865) (382,000) - (9,675,865)
<br />Total Accumulated Depreciation (10,049,019) (396,275) - (10,445,294)
<br />Total Capital Assets, Being Depreciated, Net 8,822,417 30,689 - 8,853,106
<br />Business-Type Activities Capital Assets, Net 9,261,283$ 30,689$ (325,535)$ 8,966,437$
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