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CITY OF GEM LAKE, MINNESOTA <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2017 <br /> <br /> <br /> <br />(24) <br /> <br />NOTE 2 DEPOSITS AND INVESTMENTS (CONTINUED) <br />B. Investments (Continued) <br />Fair Value Measurements (Continued) <br />The levels of investments at December 31, 2017 are as follows: <br /> <br />Investment Type Level 1 Level 2 Level 3 Total <br />Negotiable Certificates of Deposit with Maturities <br />at Purchase of Greater Than 1 Year -$ 360,316$ -$ 360,316$ <br />Investments Measured at Amortized Cost 1,675 <br />361,991$ <br /> <br />NOTE 3 CAPITAL ASSETS <br />Capital asset activity for the year ended December 31, 2017 was as follows: <br /> <br />Beginning Ending <br /> Balance Increases Decreases Balance <br />Governmental Activities <br />Capital Assets Not Being Depreciated: <br />Construction in Progress -$ 19,964$ -$ 19,964$ <br />Capital Assets Being Depreciated: <br />Buildings 902,232 - - 902,232 <br />Office Equipment 12,895 - - 12,895 <br />Infrastructure 1,131,144 - - 1,131,144 <br />Total Capital Assets Being Depreciated 2,046,271 - - 2,046,271 <br />Accumulated Depreciation: <br />Buildings (199,577) (22,497) - (222,074) <br />Office Equipment (11,229) (1,242) - (12,471) <br />Infrastructure (471,675) (46,804) - (518,479) <br />Total Accumulated Depreciation (682,481) (70,543) - (753,024) <br />Net Capital Assets - Capital Activities 1,363,790$ (50,579)$ -$ 1,313,211$ <br /> <br />Depreciation expense was charged to the governmental functions as follows: <br /> <br />General Government 23,739$ <br />Public Works 46,804 <br />Total Depreciation - Governmental Activities 70,543$