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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2024
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<br />Note 5 CAPITAL ASSETS
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<br />Capital asset activity for the year ended December 31, 2024 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 $5,698,330 $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 16,795,552 - - - 16,795,552
<br />Equipment 10,867,225 872,574 (677,323) - 11,062,476
<br />Land improvements 2,915,803 1,310,861 - - 4,226,664
<br />Other equipment 161,713 - - - 161,713
<br />Infrastructure 108,681,789 7,264,501 - - 115,946,290
<br />Total capital assets, being depreciated 139,422,082 9,447,936 (677,323) - 148,192,695
<br />Less accumulated depreciation for:
<br />Buildings 7,865,844 662,332 - - 8,528,176
<br />Equipment 5,868,278 812,856 (480,627) - 6,200,507
<br />Land improvements 1,239,650 154,364 - - 1,394,014
<br />Other equipment 127,057 2,835 - - 129,892
<br />Infrastructure 69,939,348 2,708,739 - - 72,648,087
<br />Total accumulated depreciation 85,040,177 4,341,126 (480,627) - 88,900,676
<br />Total capital assets being depreciated - net 54,381,905 5,106,810 (196,696) - 59,292,019
<br />Governmental activities capital assets - net $66,000,296 $15,657,533 ($8,772,058) ($6,008,188) $66,877,583
<br />Business-type activities:
<br />Capital assets, not being depreciated:
<br />Land $374,867 $ - $ - $ - $374,867
<br />Construction in progress 4,040,557 2,119,226 (5,252,672) 6,008,188 6,915,299
<br />Total capital assets, not being depreciated 4,415,424 2,119,226 (5,252,672) 6,008,188 7,290,166
<br />Capital assets, being depreciated:
<br />Machinery and shop equipment 669,366 220,272 (12,067) - 877,571
<br />Water and sewer systems 70,342,718 5,252,674 - - 75,595,392
<br />Total capital assets, being depreciated 71,012,084 5,472,946 (12,067) - 76,472,963
<br />Less accumulated depreciation for:
<br />Machinery and shop equipment 250,622 80,393 (12,067) - 318,948
<br />Water and sewer systems 25,057,714 1,600,673 - - 26,658,387
<br />Total accumulated depreciation 25,308,336 1,681,066 (12,067) - 26,977,335
<br />Total capital assets being depreciated - net 45,703,748 3,791,880 - - 49,495,628
<br />Business-type activities capital assets - net $50,119,172 $5,911,106 ($5,252,672) $6,008,188 $56,785,794
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<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.
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