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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2023
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<br />Note 5 CAPITAL ASSETS
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<br />Capital asset activity for the year ended December 31, 2023 was as follows:
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<br />Beginning Ending
<br />Balance Increases Decreases Transfers Balance
<br />Governmental activities:
<br />Capital assets, not being depreciated:
<br />Land $5,675,330 $23,000 $ - $ - $5,698,330
<br />Wetland credits 49,042 - - - 49,042
<br />Construction in progress 8,635,602 3,854,452 (5,013,341) (1,605,694) 5,871,019
<br />Total capital assets, not being depreciated 14,359,974 3,877,452 (5,013,341) (1,605,694) 11,618,391
<br />Capital assets, being depreciated:
<br />Buildings 16,613,793 - - - 16,613,793
<br />Office equipment and furniture 826,345 10,918 - - 837,263
<br />Vehicles 4,815,305 2,528,836 (13,434) - 7,330,707
<br />Machinery and shop equipment 2,876,669 33,591 (34,206) - 2,876,054
<br />Other equipment 2,640,282 155,265 - - 2,795,547
<br />Infrastructure 102,527,364 6,441,353 - - 108,968,717
<br />Total capital assets, being depreciated 130,299,758 9,169,963 (47,640) - 139,422,081
<br />Less accumulated depreciation for:
<br />Buildings 7,153,720 651,423 - - 7,805,143
<br />Office equipment and furniture 626,874 47,696 - - 674,570
<br />Vehicles 2,971,542 344,245 (13,434) - 3,302,353
<br />Machinery and shop equipment 1,920,339 218,929 (34,206) - 2,105,062
<br />Other equipment 875,765 113,535 - - 989,300
<br />Infrastructure 67,839,647 2,324,101 - - 70,163,748
<br />Total accumulated depreciation 81,387,887 3,699,929 (47,640) - 85,040,176
<br />Total capital assets being depreciated - net 48,911,871 5,470,034 - - 54,381,905
<br />Governmental activities capital assets - net $63,271,845 $9,347,486 ($5,013,341) ($1,605,694) $66,000,296
<br />Business-type activities:
<br />Capital assets, not being depreciated:
<br />Land $ - $ - $ - $374,867 $374,867
<br />Construction in progress 9,883,094 30,928 (7,104,292) 1,230,827 4,040,557
<br />Total capital assets, not being depreciated 9,883,094 30,928 (7,104,292) 1,605,694 4,415,424
<br />Capital assets, being depreciated:
<br />Machinery and shop equipment 790,154 97,680 - - 887,834
<br />Water and sewer systems 63,019,958 7,104,292 - - 70,124,250
<br />Total capital assets, being depreciated 63,810,112 7,201,972 - - 71,012,084
<br />Accumulated depreciation for:
<br />Machinery and shop equipment 360,339 63,446 - - 423,785
<br />Water and sewer systems 23,540,304 1,344,247 - - 24,884,551
<br />Total accumulated depreciation 23,900,643 1,407,693 - - 25,308,336
<br />Total capital assets being depreciated - net 39,909,469 5,794,279 - - 45,703,748
<br />Business-type activities capital assets - net $49,792,563 $5,825,207 ($7,104,292) $1,605,694 $50,119,172
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