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<br />CITY OF CENTERVILLE, MINNESOTA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />DECEMBER 31, 2007
<br />
<br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED
<br />
<br />D. Deferred Revenue
<br />
<br />Governmental funds report deferred revenue in connection with receivables for revenues that are not considered to
<br />be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in
<br />connection with resources that have been received, but not yet earned. At the end of the current fiscal year, the
<br />various components of deferred revenue and unearned revenue reported in the governmental funds were as follows:
<br />
<br />General fund
<br />Taxes receivable
<br />Special assessments receivable
<br />Antennae lease
<br />Debt service funds
<br />Special assessments receivable
<br />
<br />Total
<br />
<br />Capital Assets
<br />
<br />Unavailable
<br />
<br />Unearned
<br />
<br />$ 70,612
<br />12,404
<br />
<br />$
<br />
<br />15,011
<br />
<br />1,356,319
<br />$ 1,439,335
<br />
<br />$
<br />
<br />15,011
<br />
<br />Capital asset activity for the year ended December 31, 2007 was as follows:
<br />
<br />Beginning
<br />Balance
<br />
<br />Governmental activities
<br />Capital assets not being depreciated
<br />Land
<br />Construction in progress
<br />
<br />$ 2,594,350
<br />
<br />Total capital assets
<br />not being depreciated
<br />
<br />2,594,350
<br />
<br />Capital assets being depreciated
<br />Buildings
<br />Infrastructure
<br />Machinery and equipment
<br />
<br />954,581
<br />8,414,303
<br />800,587
<br />
<br />Total capital assets
<br />being depreciated
<br />
<br />10,169,471
<br />
<br />Less accumulated depreciation for
<br />Buildings
<br />Infrastructure
<br />Machinery and equipment
<br />
<br />(482,483)
<br />(1,549,032)
<br />(317,207)
<br />
<br />(2,348,722)
<br />
<br />Total accumulated depreciation
<br />
<br />Total capital assets
<br />being depreciated, net
<br />
<br />7,820,749
<br />
<br />Governmental activities
<br />capital assets, net
<br />
<br />$ 10,415,099
<br />
<br />-31-
<br />
<br />Increases
<br />
<br />Ending
<br />Balance
<br />
<br />Decreases
<br />
<br />$
<br />
<br />$
<br />
<br />$ 2,594,350
<br />1,730,567
<br />
<br />1,730,567
<br />
<br />1,730,567
<br />
<br />4,324,917
<br />
<br />368,054
<br />
<br />1,322,635
<br />8,414,303
<br />813,831
<br />
<br />97,170
<br />
<br />(83,926)
<br />
<br />465,224
<br />
<br />(83,926)
<br />
<br />10,550,769
<br />
<br />(25,555)
<br />(328,848)
<br />(66,735)
<br />
<br />(421,138)
<br />
<br />59,055
<br />
<br />(508,038)
<br />(1,877 ,880)
<br />(324,887)
<br />
<br />(2,710,805)
<br />
<br />59,055
<br />
<br />44,086
<br />
<br />(24,871)
<br />
<br />7,839,964
<br />
<br />$ 1,774.653
<br />
<br />$
<br />
<br />(24,871) $ 12,164,881
<br />
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