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<br />NOTE 3 – CAPITAL ASSETS (CONTINUED)
<br />
<br />C. Depreciation Expense by Function
<br />
<br />Depreciation expense was charged to the following functions:
<br />
<br />Governmental activities
<br />General government 123,202$
<br />Public safety 2,964
<br />Public works 427,960
<br />Parks and recreation 137,493
<br />Economic development 6,373
<br />697,992$
<br />Business-type activities
<br />Water 238,736$
<br />Sewer 164,833
<br />Surface water management 85,311
<br />488,880$
<br /> D. Construction Commitments
<br />
<br />At December 31, 2017, the City had the following construction project commitments:
<br />
<br />Project Amount
<br />Water Fund – Water Tower Rehabilitation 519,800$
<br />Sewer Fund – Sewer Lining Project 197,398
<br />717,198$
<br />
<br />NOTE 4 – LONG-TERM LIABILITIES
<br />
<br />Long-term debt outstanding at year-end includes compensated absences payable and net pension liability,
<br />which are described elsewhere in these notes. For the governmental activities, compensated absences and
<br />the net pension liability are generally liquidated by the General Fund and special revenue funds.
<br />
<br />Long-term liability activity for the year ended December 31, 2017 was as follows:
<br />
<br />Beginning Ending Due Within
<br />Balance Additions Deletions Balance One Year
<br />Governmental activities
<br />Compensated absences payable 64,277$ 155,324$ 169,907$ 49,694$ 37,270$
<br />Net pension liability 1,389,901 131,721 550,574 971,048 –
<br />Total governmental activities
<br /> long-term liabilities 1,454,178$ 287,045$ 720,481$ 1,020,742$ 37,270$
<br />Business-type activities
<br />Compensated absences payable 52,721$ 2,705$ 10,710$ 44,716$ 33,537$
<br />Net pension liability 778,008 88,290 369,041 497,257 –
<br />Total business-type activities
<br /> long-term liabilities 830,729$ 90,995$ 379,751$ 541,973$ 33,537$
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