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City of Little Canada, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2024
<br />Note 3: Detailed Notes on All Funds (Continued)
<br />C.Capital Assets
<br />Capital asset activity for the year ended December 31, 2024 was as follows:
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental Activities
<br />Capital Assets not Being Depreciated
<br />Land 3,620,111$ 2,391,114$ -$ 6,011,225$
<br />Construction in progress 3,732,018 511,185 (3,462,410) 780,793
<br />Total Capital Assets not
<br />Being Depreciated 7,352,129 2,902,299 (3,462,410) 6,792,018
<br />Capital Assets Being Depreciated
<br />Buildings and buildings improvements 8,213,605 71,724 - 8,285,329
<br />Other Improvements 2,709,633 1,867,542 - 4,577,175
<br />Machinery and equipment 5,992,647 1,513,228 - 7,505,875
<br />Streets 47,912,668 3,390,987 - 51,303,655
<br />Total Capital Assets
<br />Being Depreciated 64,828,553 6,843,481 - 71,672,034
<br />Less Accumulated Depreciation for
<br />Buildings and buildings improvements (3,314,378) (211,974) - (3,526,352)
<br />Other Improvements (417,237) (104,378) - (521,615)
<br />Machinery and equipment (3,343,104) (320,803) - (3,663,905)
<br />Streets (30,246,145) (1,439,064) - (31,685,209)
<br />Total Accumulated
<br />Depreciation (37,320,864) (2,076,219) - (39,397,081)
<br />Total Capital Assets
<br />Being Depreciated, Net 27,507,689 4,767,262 - 32,274,953
<br />Governmental Activities
<br />Capital Assets, Net 34,859,818$ 7,669,561$ (3,462,410)$ 39,066,971$
<br />Depreciation expense was charged to functions/programs of the governmental activities as follows:
<br />Governmental Activities
<br />General government 216,825$
<br />Public safety 151,440
<br />Public works 1,564,858
<br />Parks and recreation 143,096
<br />Total Depreciation Expense - Governmental Activities 2,076,219$
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