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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, 2016, amounts to $46,943,369 (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 $1,061,675, or 2.3 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 2016.
<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 47-48 of
<br />this report.
<br />Long-term debt. At the end of the current fiscal year, the City of Hugo had $7,225,000 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 />2016 2015 2016 2015 2016 2015
<br />General obligation bonds $ 7,225,000 $ 8,795,000 $ $ $ 7,225,000 $ 8,795,000
<br />13
<br />Governmental Activities
<br />Business -Type
<br />Activities
<br />Totals
<br />2016
<br />2015
<br />2016
<br />2015
<br />2016
<br />2015
<br />Land
<br />$ 4,631,808
<br />$ 4,628,249
<br />$ 259,560
<br />$ 259,560
<br />$ 4,891,368
<br />$ 4,887,809
<br />Construction in progress
<br />48,245
<br />48,245
<br />48,245
<br />48,245
<br />Buildings
<br />3,570,052
<br />3,763,902
<br />16,217,227
<br />16,221,606
<br />19,787,279
<br />19,985,508
<br />Improvements other than
<br />buildings
<br />318,646
<br />457,990
<br />318,646
<br />457,990
<br />Machinery and equipment
<br />2,474,360
<br />2,175,999
<br />210,034
<br />150,495
<br />2,684,394
<br />2,326,494
<br />Infrastructure
<br />19,213,437
<br />18,175,648
<br />19,213,437
<br />18,175,648
<br />Total
<br />$ 30,208,303
<br />$ 29,201,788
<br />$ 16,735,066
<br />$ 16,679,906
<br />$ 46,943,369
<br />$ 45,881,694
<br />Additional information on the City of Hugo's capital assets can be found in Note 3:C. on pages 47-48 of
<br />this report.
<br />Long-term debt. At the end of the current fiscal year, the City of Hugo had $7,225,000 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 />2016 2015 2016 2015 2016 2015
<br />General obligation bonds $ 7,225,000 $ 8,795,000 $ $ $ 7,225,000 $ 8,795,000
<br />13
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