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CITY OF GEM LAKE, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2018
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<br />(24)
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<br />NOTE 2 DEPOSITS AND INVESTMENTS (CONTINUED)
<br />B. Investments (Continued)
<br />Fair Value Measurements (Continued)
<br />The levels of investments at December 31, 2018 are as follows:
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<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 -$ 560,177$ -$ 560,177$
<br />Investments Measured at Amortized Cost 7,685
<br />567,862$
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<br />NOTE 3 CAPITAL ASSETS
<br />Capital asset activity for the year ended December 31, 2018 was as follows:
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<br />Beginning Ending
<br /> Balance Increases Decreases Transfers Balance
<br />Governmental Activities
<br />Capital Assets Not Being Depreciated:
<br />Construction in Progress 19,964$ 541,567$ -$ -$ 561,531$
<br />Capital Assets Being Depreciated:
<br />Buildings 902,232 - - 902,232
<br />Office Equipment 12,895 - - 12,895
<br />Infrastructure 1,131,144 381,748 (418,356) 1,094,536
<br />Total Capital Assets Being Depreciated 2,046,271 381,748 - (418,356) 2,009,663
<br />Total Capital Assets 2,066,235 923,315 - (418,356) 2,571,194
<br />Accumulated Depreciation:
<br />Buildings (222,074) (22,497) - (244,571)
<br />Office Equipment (12,471) (314) - (12,785)
<br />Infrastructure (518,479) (46,413) - 12,551 (552,341)
<br />Total Accumulated Depreciation (753,024) (69,224) - 12,551 (809,697)
<br />Net Capital Assets - Capital Activities 1,313,211$ 854,091$ -$ (405,805)$ 1,761,497$
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<br />Depreciation expense was charged to the governmental functions as follows:
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<br />General Government 22,811$
<br />Public Works 46,413
<br />Total Depreciation - Governmental Activities 69,224$
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