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CITY OF LITTLE CANADA, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2017
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<br />
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<br />(56)
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<br />NOTE 5 CAPITAL ASSETS
<br />A. Changes in Capital Assets Used in Governmental Activities
<br />Capital asset activity for the year ended December 31, 2017 was as follows:
<br />
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental Activities:
<br />Capital Assets, Not Being Depreciated:
<br />Land 3,619,339$ 6,834$ (6,062)$ 3,620,111$
<br />Construction in Progress 7,234,285 1,547,935 - 8,782,220
<br />Total Capital Assets, Not Being Depreciated 10,853,624 1,554,769 (6,062) 12,402,331
<br />Capital Assets, Being Depreciated:
<br />Buildings and Building Improvements 7,213,968 - - 7,213,968
<br />Other Improvements 372,314 - - 372,314
<br />Machinery and Equipment 4,761,192 1,018,560 (184,764) 5,594,988
<br />Streets 38,790,966 136,690 - 38,927,656
<br />Total Capital Assets, Being Depreciated 51,138,440 1,155,250 (184,764) 52,108,926
<br />Accumulated Depreciation for:
<br />Buildings and Building Improvements (1,976,000) (188,332) - (2,164,332)
<br />Other Improvements (150,788) (17,564) - (168,352)
<br />Machinery and Equipment (2,725,370) (252,318) (80,833) (2,896,855)
<br />Streets (23,347,994) (1,306,965) - (24,654,959)
<br />Total Accumulated Depreciation (28,200,152) (1,765,179) (80,833) (29,884,498)
<br />Total Capital Assets, Being Depreciated, Net 22,938,288 (609,929) (103,931) 22,224,428
<br />Governmental Activities Capital Assets, Net 33,791,912$ 944,840$ (109,993)$ 34,626,759$
<br />B. Changes in Capital Assets Used in Business-Type Activities
<br />Capital asset activity for the year ended December 31, 2017 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 10,030 - - 10,030
<br />Total Capital Assets, Not Being Depreciated 113,331 - - 113,331
<br />Capital Assets, Being Depreciated:
<br />Machinery and Equipment 908,735 214,998 (425,200) 698,533
<br />Distribution and Collection System 18,428,365 81,307 - 18,509,672
<br />Total Capital Assets, Being Depreciated 19,337,100 296,305 (425,200) 19,208,205
<br />Accumulated Depreciation for:
<br />Machinery and Equipment (783,878) (12,305) 425,200 (370,983)
<br />Distribution and Collection System (10,065,695) (400,546) - (10,466,241)
<br />Total Accumulated Depreciation (10,849,573) (412,851) 425,200 (10,837,224)
<br />Total Capital Assets, Being Depreciated, Net 8,487,527 (116,546) - 8,370,981
<br />Business-Type Activities Capital Assets, Net 8,600,858$ (116,546)$ -$ 8,484,312$
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