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CITY OF HUGO, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />Capital Asset and Debt Administration
<br />Capital assets. The City of Hugo's investment in capital assets for its governmental and business -type
<br />activities as of December 31, 2015, amounts to $45,881,694 (net of accumulated depreciation). This
<br />investment in capital assets includes land, buildings and systems, improvements, machinery and
<br />equipment, park facilities, roads, and highways. The total increase in the City of Hugo's reported
<br />investment in capital assets for the current fiscal year was $1,606,972, or 3.6 percent. The increase in
<br />governmental activities and in business -type activities capital assets is due primarily to various street
<br />construction projects within the City during 2015.
<br />City of Hugo, Minnesota's Capital Assets
<br />(net of depreciation)
<br />Additional information on the City of Hugo's capital assets can be found in Note 3:C. on pages 46-47 of
<br />this report.
<br />Long-term debt. At the end of the current fiscal year, the City of Hugo had $8,795,000 in bonds
<br />outstanding. The entire amount of this debt is backed by the full faith and credit of the government.
<br />City of Hugo, Minnesota's Outstanding Debt
<br />General Obligation Bonds Payable
<br />Governmental
<br />Activities
<br />Business -Type
<br />Activities
<br />Total
<br />2015 2014 2015 2014 2015 2014
<br />General obligation bonds $ 8,795,000 $ 15,865,000 $ $ $ 8,795,000 $ 15,865,000
<br />13
<br />Governmental Activities
<br />Business-TypeActivities
<br />Totals
<br />2015
<br />2014
<br />2015
<br />2014
<br />2015
<br />2014
<br />Land
<br />$ 4,628,249
<br />$ 4,578,710
<br />$ 259,560
<br />$ 259,560
<br />$ 4,887,809
<br />$ 4,838,270
<br />Construction in progress
<br />48,245
<br />48,245
<br />48,245
<br />48,245
<br />Buildings
<br />3,763,902
<br />3,892,287
<br />16,221,606
<br />15,747,968
<br />19,985,508
<br />19,640,255
<br />Improvements other than
<br />buildings
<br />457,990
<br />597,334
<br />457,990
<br />597,334
<br />Machinery and equipment
<br />2,175,999
<br />2,175,711
<br />150,495
<br />150,909
<br />2,326,494
<br />2,326,620
<br />Infrastructure
<br />18,175,648
<br />16,866,465
<br />18,175,648
<br />16,866,465
<br />Total
<br />$ 29,201,788
<br />$ 28,110,507
<br />$ 16,679,906
<br />$ 16,206,682
<br />$ 45,881,694
<br />$ 44,317,189
<br />Additional information on the City of Hugo's capital assets can be found in Note 3:C. on pages 46-47 of
<br />this report.
<br />Long-term debt. At the end of the current fiscal year, the City of Hugo had $8,795,000 in bonds
<br />outstanding. The entire amount of this debt is backed by the full faith and credit of the government.
<br />City of Hugo, Minnesota's Outstanding Debt
<br />General Obligation Bonds Payable
<br />Governmental
<br />Activities
<br />Business -Type
<br />Activities
<br />Total
<br />2015 2014 2015 2014 2015 2014
<br />General obligation bonds $ 8,795,000 $ 15,865,000 $ $ $ 8,795,000 $ 15,865,000
<br />13
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