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CITY OF LITTLE CANADA, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2018
<br />
<br />
<br />
<br />(54)
<br />
<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, 2018 was as follows:
<br />
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental Activities:
<br />Capital Assets, Not Being Depreciated:
<br />Land 3,620,111$ -$ -$ 3,620,111$
<br />Construction in Progress 8,782,220 778,077 (6,356,620) 3,203,677
<br />Total Capital Assets, Not Being Depreciated 12,402,331 778,077 (6,356,620) 6,823,788
<br />Capital Assets, Being Depreciated:
<br />Buildings and Building Improvements 7,213,968 160,847 - 7,374,815
<br />Other Improvements 372,314 244,097 - 616,411
<br />Machinery and Equipment 5,594,988 146,375 (165,173) 5,576,190
<br />Streets 38,927,656 1,765,466 (576,139) 40,116,983
<br />Total Capital Assets, Being Depreciated 52,108,926 2,316,785 (741,312) 53,684,399
<br />Accumulated Depreciation for:
<br />Buildings and Building Improvements (2,164,332) (180,349) - (2,344,681)
<br />Other Improvements (168,352) (17,564) - (185,916)
<br />Machinery and Equipment (2,896,855) (274,225) 165,173 (3,005,907)
<br />Streets (24,654,959) (1,337,932) 485,001 (25,507,890)
<br />Total Accumulated Depreciation (29,884,498) (1,810,070) 650,174 (31,044,394)
<br />Total Capital Assets, Being Depreciated, Net 22,224,428 506,715 (91,138) 22,640,005
<br />Governmental Activities Capital Assets, Net 34,626,759$ 1,284,792$ (6,447,758)$ 29,463,793$
<br />
<br />The decrease in construction in progress includes $4,506,155 in capital assets
<br />transferred to Ramsey County. See Note 19 for additional information.
<br />
<br />B. Changes in Capital Assets Used in Business-Type Activities
<br />Capital asset activity for the year ended December 31, 2018 was as follows:
<br />
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Business-Type Activities:
<br />Capital Assets, Not Being Depreciated:
<br />Permanent Easements 103,301$ -$ -$ 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 698,533 51,701 - 750,234
<br />Distribution and Collection System 18,509,672 - - 18,509,672
<br />Total Capital Assets, Being Depreciated 19,208,205 51,701 - 19,259,906
<br />Accumulated Depreciation for:
<br />Machinery and Equipment (370,983) (10,490) - (381,473)
<br />Distribution and Collection System (10,466,241) (415,544) - (10,881,785)
<br />Total Accumulated Depreciation (10,837,224) (426,034) - (11,263,258)
<br />Total Capital Assets, Being Depreciated, Net 8,370,981 (374,333) - 7,996,648
<br />Business-Type Activities Capital Assets, Net 8,484,312$ (374,333)$ -$ 8,109,979$
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