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<br />NOTE 3 – CAPITAL ASSETS
<br />
<br />Capital asset activity for the year ended December 31, 2020 was as follows:
<br />
<br />A. Changes in Capital Assets Used in Governmental Activities
<br />
<br />Balance –Transfers and
<br />Beginning Completed Balance –
<br />of Year Additions Deletions Construction End of Year
<br />Capital assets, not depreciated
<br />Land 2,500$ –$ –$ –$ 2,500$
<br />Construction in progress – 8,853 – – 8,853
<br />Total capital assets, not depreciated 2,500 8,853 – – 11,353
<br />Capital assets, depreciated
<br />Buildings 902,232 – – – 902,232
<br />Office equipment 17,900 – – – 17,900
<br />Infrastructure 1,563,728 – – – 1,563,728
<br />Total capital assets, depreciated 2,483,860 – – – 2,483,860
<br />Less accumulated depreciation for
<br />Buildings (267,068) (22,497) – – (289,565)
<br />Office equipment (12,905) (1,099) – – (14,004)
<br />Infrastructure (603,305) (67,327) – – (670,632)
<br />Total accumulated depreciation (883,278) (90,923) – – (974,201)
<br />Net capital assets, depreciated 1,600,582 (90,923) – – 1,509,659
<br />Net capital assets 1,603,082$ (82,070)$ –$ –$ 1,521,012$
<br /> B. Changes in Capital Assets Used in Business-Type Activities
<br />
<br />Balance –Transfers and
<br />Beginning Completed Balance –
<br />of Year Additions Deletions Construction End of Year
<br />Capital assets, depreciated
<br />Infrastructure 1,537,630$ 10,310$ –$ –$ 1,547,940$
<br />Less accumulated depreciation for
<br />Infrastructure (226,598) (29,536) – – (256,134)
<br />Net capital assets 1,311,032$ (19,226)$ –$ –$ 1,291,806$
<br />
<br />C. Depreciation Expense by Function
<br />
<br />Depreciation expense was charged to the following functions:
<br />
<br />Governmental activities
<br />General government 23,596$
<br />Public works 66,627
<br />Conservation and development 750
<br />Total depreciation expense – governmental activities 90,973$
<br />
<br />Business-type activities
<br />Water 13,469$
<br />Sewer 16,067
<br />Total depreciation expense – business-type activities 29,536$
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