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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2024
<br />Note 5 CAPITAL ASSETS
<br />Capital asset activity for the year ended December 31, 2024 was as follows:
<br />Beginning Fading
<br />Governmental activities:
<br />Capital assets, not being depreciated:
<br />Land $5,698,330 $33,000 $ $ - $5,731,330
<br />Wetland credits 49,042 - - 49,042
<br />Construction in progress 5,871,019 10,517,723 (8,575,362) (6,008,188) 1,805,192
<br />Total capital assets, not being depreciated 11,618,391 10,550,723 (8,575,362) (6,008,188) 7,585,564
<br />Capital assets, being depreciated:
<br />Buildings
<br />Equipment
<br />Land improvements
<br />Other equipment
<br />Infrastructure
<br />Total capital assets, being depreciated
<br />Less accumulated depreciation for:
<br />16,795,552
<br />-
<br />16,795,552
<br />10,867,225
<br />872,574 (677,323)
<br />- 11,062,476
<br />2,915,803
<br />1,310,861
<br />- 4,226,664
<br />161,713
<br />-
<br />- 161,713
<br />108,681,789
<br />7,264,501
<br />- 115,946,290
<br />139,422,082
<br />9,447,936 (677,323)
<br />- 148,192,695
<br />Buildings
<br />7,865,844
<br />662,332
<br />-
<br />8,528,176
<br />Equipment
<br />5,868,278
<br />812,856
<br />(480,627)
<br />-
<br />6,200,507
<br />Land improvements
<br />1,239,650
<br />154,364
<br />-
<br />1,394,014
<br />Other equipment
<br />127,057
<br />2,835
<br />-
<br />129,892
<br />Infrastructure
<br />69,939,348
<br />2,708,739
<br />-
<br />72,648,087
<br />Total accumulated depreciation
<br />85,040,177
<br />4,341,126
<br />(480,627)
<br />-
<br />88,900,676
<br />Total capital assetsbeingdepreciated - net
<br />54,381,905
<br />5,106,810
<br />(196,696)
<br />-
<br />59,292,019
<br />Governmental activities capital assets -net
<br />$66,000,296
<br />$15,657,533
<br />($8,772,058)
<br />($6,008,188)
<br />$66,877,583
<br />Business -type activities:
<br />Capital assets, not being depreciated:
<br />Land
<br />$374,867
<br />$ -
<br />$ -
<br />$ -
<br />$374,867
<br />Construction in progress
<br />4,040,557
<br />2,119,226
<br />(5,252,672)
<br />6,008,188
<br />6,915,299
<br />Total capital assets, not being depreciated
<br />4,415,424
<br />2,119,226
<br />(5,252,672)
<br />6,008,188
<br />7,290,166
<br />Capital assets, being depreciated:
<br />Machinery and shop equipment
<br />669,366
<br />220,272
<br />(12,067)
<br />-
<br />877,571
<br />Water and sewer systems
<br />70,342,718
<br />5,252,674
<br />-
<br />75,595,392
<br />Total capital assets, being depreciated
<br />71,012,084
<br />5,472,946
<br />(12,067)
<br />-
<br />76,472,963
<br />Less accumulated depreciation for:
<br />Machinery and shop equipment
<br />250,622
<br />80,393
<br />(12,067)
<br />-
<br />318,948
<br />Water and sewer systems
<br />25,057,714
<br />1,600,673
<br />26,658,387
<br />Total accumulated depreciation
<br />25,308,336
<br />1,681,066
<br />(12,067)
<br />-
<br />26,977,335
<br />Total capital assets being depreciated - net
<br />45,703,748
<br />3,791,880
<br />49,495,628
<br />Business -type activitiescapitalassets - net
<br />$50,119,172
<br />$5,911,106
<br />($5,252,672)
<br />S6,008,188
<br />$56,785,794
<br />*As of January 1, 2024, the City reclassified certain capital assets and retitled certain capital asset categories to
<br />better reflect the nature of its assets. This reclassification had no impact on total capital assets or accumulated
<br />depreciation.
<br />60
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