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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2003
<br />Note 2 DEPOSITS AND INVESTMENTS (CONTINUED)
<br />The City's investments are categorized above to give an indication of the level of custodial credit risk
<br />assumed at year -end. Category 1 includes investments that are insured or registered or for which the
<br />securities are held by the City or its agent in the City's name. Category 2 includes uninsured or
<br />unregistered investments for which the securities are held by the counterparty's trust department or
<br />agent in the City's name. Category 3 includes uninsured and unregistered investments for which the
<br />securities are held by the counterparty or by its trust department or agent but not in the City's name.
<br />Cash and investments with escrow agent consist of undisbursed proceeds of the Public Project Bonds
<br />of 1999C and the Lease Revenue Bonds of 1998 which are restricted for the payment of debt associated
<br />with the City's fire station and the payment for construction and capitalized interest costs of the Civic
<br />Complex, respectively.
<br />Note 3 CAPITAL ASSETS
<br />Capital asset activity for the year ended December 31, 2003 was as follows:
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental Activities:
<br />Capital Assets, Not Being Depreciated
<br />Land $ 3,113,490 $ $ - $ 3,113,490
<br />Total capital assets, not being depreciated 3,113,490 - 3,113,490
<br />Capital Assets, Being Depreciated:
<br />Buildings 6,470,929 - 6,470,929
<br />Office Equipment and Furniture 925,836 78,311 (39,147) 965,000
<br />Vehicles 1,272,160 231,386 (157,288) 1,346,258
<br />Machinery and Shop Equipment 618,889 618,889
<br />Other 911,907 17,858 929,765
<br />Infrastructure 59,877,027 2,763,365 62,640,392
<br />Total Capital Assets, Being Depreciated 70,076,748 3,090,920 (196,435) 72,971,233
<br />Accumulated Depreciation for:
<br />Buildings (1,053,015) (216,073) (1,269,088)
<br />Office Equipment and Furniture (428,458) (87,016) 39,147 (476,327)
<br />Vehicles (591,828) (149,365) 126,129 (615,064)
<br />Machinery and Shop Equipment (338,726) (36,973) (375,699)
<br />Other (336,992) (53,403) (390,395)
<br />Infrastructure (25,486,333) (2,183,720) (27,670,053)
<br />Total Accumulated Depreciation (28,235,352) (2,726,550) 165,276 (30,796,626)
<br />Total Capital Assets, Being Depreciated, Net 41,841,396 364,370 (31,159) 42,174,607
<br />Governmental Activities Capital Assets, Net $ 44,954,886 $ 364,370 $ (31,159) $ 45,288,097
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